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BNP Paribas has leased a 3,497 sq. ft. office at Maker Maxity, BKC, at INR 811 per sq. ft. per month, totaling INR 17 crore over five years. This deal reinforces BKC's status as India's most expensive commercial hub. The lease includes three parking spaces and a 5% annual rent escalation. Tesla recently secured a INR 881 per sq. ft. lease at Maker Maxity, marking another high-profile transaction. BKC, Mumbai's central business district (CBD), houses global giants like Apple, Netflix, Amazon, and Pfizer, along with key financial institutions and government offices, solidifying its status as India's premier corporate hub.
Global banking institution BNP Paribas has recently secured a premium office space at Maker Maxity, located within Mumbai's Bandra Kurla Complex (BKC). The banking major has leased a 3,497 sq ft unit on the ground floor at a monthly rental rate of INR 811 per sq ft. According to documents reviewed by Propstack, the lease transaction has been valued at approximately INR 17 crore over a five-year term, positioning it among the highest-value commercial property deals in the country. This agreement has further reinforced BKC's standing as India's most expensive commercial office district. Advertisement
BNP Paribas has secured a lease for office premises located in Maker Maxity, Mumbai, at a monthly rental rate of INR 2,836,000, subject to an annual escalation of 5%. The leased premise is situated in Maker Maxity, Tower 1 North Avenue, with Neelammegha Investments and Trading Company Private Limited listed as the landlord. The lease agreement encompasses provision for three car parking spaces and is scheduled to commence later this calendar year.
This marks the second lease transaction in BKC where the monthly rent has crossed INR 800 per sq ft. In a similar high-profile deal, Elon Musk's Tesla Motors and Energy had recently leased a 4,003 sq ft space at 2 North Avenue, Maker Maxity, at INR 881 per sq ft per month. This lease, secured for Tesla's showroom, is valued at INR 23.38 crore over a five-year duration.
Serving as Mumbai's central business district (CBD), BKC is a critical hub for the Banking and Financial Services Industry (BFSI), as well as for Fortune 500 companies. The area ranks among India's most expensive commercial precincts, accommodating industry giants such as Apple, Netflix, Facebook, Amazon, Spotify, and Pfizer. In addition, BKC is home to prominent financial institutions, including the National Stock Exchange, Standard Chartered Bank, and Blackstone. As of the end of last year, the district's weighted average quoted rents (WAQR) ranged between INR 250 and INR 400 per sq ft per month.
The district also offers substantial space for major co-working providers like WeWork and serves as a base for leading technology firms such as CISCO. BKC accommodates several government offices, including the Reserve Bank of India, the GST and Income Tax departments, and the Family Court.
With its mix of Fortune 500 firms, financial institutions, technology giants, and key government offices, BKC remains a powerhouse for business and commerce. These developments further cement its position as the country's costliest and most prestigious business hub.
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