If you’re curious about where Apple is planning to open its fourth store in India, we’ve got all the answers for you — from the store’s location and size to how much rent Apple will pay and the security deposit involved.
After opening flagship stores in Delhi and Mumbai, Apple is now preparing to open another new store in Borivali (East), Mumbai, making it the company’s second outlet in Mumbai and the fourth Apple Store in India.
According to property registration documents accessed by CRE Matrix and Propstack, Apple India has leased 12,616 sq. ft. of space in Sky City Mall, owned by Oberoi Realty, for this upcoming store. The lease agreement was signed on May 8, 2025, for a total duration of 130 months (nearly 11 years) with Incline Realty Private Limited.
Apple Borivali Store: Rent & Lease Details
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Monthly Rent: ₹17.35 lakh
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Security Deposit: ₹1 crore
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Location: Ground floor, Sky City Mall, Borivali East, Mumbai
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Parking & Storage: Includes 5 reserved parking slots and 150 sq. meters of additional storage space
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Revenue Sharing Clause:
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First 42 months: Apple to share 2% of store revenue
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Post 42 months: Revenue share increases to 2.5%
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A Look Back: Apple’s Store Expansion in India
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First Store: Opened in April 2023 at Jio World Drive, Bandra Kurla Complex, Mumbai
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Second Store: Located in Select Citywalk Mall, Saket, New Delhi
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Third Store (Upcoming): Lease signed for a 7,998 sq. ft. store at Phoenix Mall of Asia, Bengaluru in November 2024. Apple will pay a monthly rent of ₹17.44 lakh for this store, under a 10-year lease agreement.