People outside Apple store. Photo: Reuters
Hyderabad: Apple has leased 64,125 sq ft in Wave Rock Tower 2.1 in Nanakramguda for a five-year with a monthly rent of Rs 80.15 lakh at a rate of Rs 125 per sq ft. This includes a warm shell rent of Rs 74.18 per sq ft and a fit-out rent of Rs 50.82 per sq ft.
The lease covers the upper ground and third floors of the tower, for which Apple, under the agreement starting from July 1, 2025.
Apple has been designated 64 car parking spaces (1 reserved space for every 1,000 sq. ft. of leasable area) at no additional cost. Each space can be used for either one car or up to six two-wheelers. The agreement showed that additional parking spaces may be provided, subject to availability and payment of extra rent.
The company paid the landlord a security deposit of Rs 4.8 crore. The documents showed that the rent would increase by 4.77 percent annually over the lease period. Apple has taken several office spaces in the project, totalling over 5 lakh sq ft, through multiple leases. The first lease spanning 2.32 lakh sq ft was signed in 2016.
This post was last modified on September 2, 2025 9:02 pm