Latest News Apple: Apple will pay rent of 17.35 lakhs per month, new store will open in this city
Latest News Apple: In which state is Apple's fourth store going to open? If you are also curious to know the answer to this question, then stay with us. In which state is the company's fourth store going to open, how much is the rent, what will be the size of the store and how much security deposit will have to be given to Apple Company for the fourth store? Let us answer all these questions.
After opening Apple stores in Delhi and Mumbai, now there is a lot of discussion about the company's next new store. Now recently it has come to light that the company is preparing to open a new store in Borivali (East) in Mumbai soon.
According to property registration documents accessed by CRE Matrix and Propstack, Apple India has leased 12616 square feet of space in Borivali, Mumbai. This will be Apple's second store in Mumbai.
This second Apple store to be opened in Mumbai will be opened on the ground floor of Oberoi Realty's Sky City Mall. The company's lease agreement with Incline Realty Private Limited has been signed on May 8, 2025 for a total period of 130 months (approximately 11 years).
Apple Borivali Store: How much is the rent?
This deal will include five reserved parking slots and 150 square meters of additional storage space. The company will pay a rent of Rs 17.35 lakh for the Borivali store, not only this, the company has also deposited a security deposit of Rs 1 crore for the store.
This agreement also includes a revenue sharing clause under which Apple will have to pay 2 percent of the store revenue in the first 42 months, after which it will increase to 2.5 percent.
Apple Store: When was the first store opened?
Let us remind you that in April 2023, Apple's first store was opened at Jio World Drive in Bandra Kurla Complex, Mumbai. The second Apple store was opened at Select Citywalk Mall in Saket, Delhi.
After Mumbai and Delhi, some time ago there were reports that Apple has signed a lease for a store at Phoenix Mall of Asia in Bengaluru.
The Bengaluru store will be opened in 7998 square feet, an agreement for this store has been signed for 10 years in November last year. Apple will have to pay a monthly rent of Rs 17.44 lakh for this store.