India, June 6 -- Apple is opening its fourth retail store in India. The big tech major has reportedly selected Mumbai's Borivali as the location of its newest outlet, which will span 12,616 square feet on the ground floor of the Sky City Mall.

According to an NDTV Profit report, the lease runs nearly 11 years, starting at a monthly rent of INR 17.35 Lakh. The rent will increase by 15% every three years, with Apple already paying a security deposit of over INR 1 Cr for the premises.

This will be Apple's second store in Mumbai, following the flagship outlet at Bandra Kurla Complex that opened in April 2023. The big tech giant, which also has a store in Delhi's Select City Walk, has signed a lease for another location in Bengaluru's Phoeni...