Apple is planning to expand its business in India. For this, Apple has recently taken a commercial building in Bengaluru on a 10-year lease. Earlier, Apple has also opened its first store in India in Mumbai. Apple will pay crores of rupees every month for the leased building in Bengaluru.
Let us tell you, Apple has not taken the entire building of the Prestige Assets project in the posh area of the city, but several of its floors on rent. For which the company will pay rent of crores of rupees.
will have to pay this much rent
With the opening of Apple's stores and offices in India, the people of India will not have to depend on foreign countries to buy Apple products. According to data analytics firm Propstack, Apple has leased the seventh, eighth and ninth floors along with the fourth and sixth floors of the Prestige Assets project building for 10 years. For this, Apple will pay Rs 2.43 crore as rent every month. Apart from this, Rs 16.56 lakh will go separately every month for car parking. This deal of lease has been done between Apple India and Private Musa Sait Waqf.
Rent will be revised after 3 years
Like the normal lease agreement, the rent of Apple will also increase after 3 years. As per the terms of the lease agreement, the deal will have a lock-in period of five years and the rent will increase by 15% every three years. At the same time, the special thing about this lease is that no competitor company of Apple will be given space in this building.
India's first Apple Store opens in Mumbai
The company has recently opened India's first center in Mumbai. For this, the company has taken the shop at Jio World Drive Mall on lease for 133 months. For this, the company will pay Rs 42 lakh as rent every month.
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