Apple has leased 64,125 sq ft of extra office space in Hyderabad for a monthly rent of ₹80.15 lakh over five years. It expands Apple’s current offices in the project developed by TSI Business Parks Ltd in Hyderabad. Reports show that company has rented several office spaces in this project, totals over 5 lakh sq ft through various leases. The first lease, covering 2.32 lakh sq ft, signed in 2016. The newly leased space is in WaveRock Tower 2.1, located in Nanakramguda. This lease is with TSI Business Parks (Hyderabad) Private Limited, starting on July 1, 2025.
Apple pays ₹80.15 lakh monthly rent
The lease includes the upper ground and third floors of the tower, set for 60 months. Apple will pay a monthly rent of ₹80.15 lakh, at a rate of ₹125 per sq ft. This amount consists of a warm shell rent of ₹74.18 per sq ft and a fit-out rent of ₹50.82 per sq ft. A warm shell rent means the office space has some basic work done, making it almost ready for use.
Rent increase by 4.77% during Lease
The company has paid the landlord a security deposit of ₹4.8 crore. The documents show that the rent will rise by 4.77% each year during the lease. Apple assigned 64 car parking spaces, with one reserved space for every 1,000 sq ft of leased area, at no extra cost. Each space can accommodate either one car or up to six two-wheelers. The lease has a lock-in period of three years from the start date. During this time, neither party can end the lease except under specific conditions stated in the agreement. A email inquiry sent to Apple India Private Limited and TSI Business Parks.
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