Mumbai’s costliest real estate war: Why Apple and Tesla are paying top dollar to secure prime real estate in BKC

Mumbai’s commercial real estate market remains one of India’s hottest, with Bandra Kurla Complex (BKC) at its center. Known for its world-class infrastructure and strategic location, BKC has become the preferred hub for multinational corporations, financial institutions, and high-end businesses.  

This demand has driven premium pricing, making BKC one of the most expensive business districts in the country. A prime example of this competitive landscape is the leasing strategies of Apple and Tesla, which highlight how global brands maneuver for dominance in this space.  

In 2022, Apple secured a prime location in Jio World Drive, embedding a clause in its lease to prevent competitors — including Tesla — from setting up shop in the same building. The move underscores Apple’s strategic approach to controlling its environment.  

Tesla, however, found a workaround. The EV giant leased space in the adjacent Maker Maxity building, demonstrating its determination to establish a foothold in India’s burgeoning market.  

Real estate analytics firm Propstack recently analyzed these high-profile leases, reinforcing BKC’s reputation as one of the priciest commercial districts in the country.  

“Let’s dive into the lease details:  

Apple: Leased a larger space at Jio World Drive with a revenue share component, resulting in an estimated rate of ₹600-650/sq ft/month.  
Tesla: Secured a smaller space at Maker Maxity without a revenue share clause but at a higher rate of ₹881/sq ft/month.  

These leases underscore the immense potential of the Indian market and BKC’s importance as a hub for high-end consumption. The strategic moves by both Apple and Tesla are a testament to the intense competition for market share in India’s rapidly evolving economic landscape,” Propstack wrote in a post on X (formerly Twitter).  

While Mumbai’s commercial real estate market sees periodic fluctuations, BKC’s ability to attract top-tier global players like Apple and Tesla reinforces its position as a premier business destination.