India, June 5 -- Apple India has leased 12,616 sq ft retail space in Mumbai's Borivali suburb for Rs.17.35 lakh monthly rent, according to documents accessed by data analytical firm Propstack.

The lease commenced on May 8, 2025, and covers a ground-floor unit of Oberoi Sky City Mall with a carpet area of 12,616 sq ft, along with an additional 150 sq m of storage space and five designated car parking slots, the documents showed.

Apple will pay an annual rental of about Rs.2.08 crore, and the landlord is Incline Realty Pvt Ltd. The agreement includes a revenue-sharing clause where Apple will pay 2% of its revenue from the store for the first 42 months and 2.5% from the 43rd month onwards.

The lease is for a total period of 130 months (ne...