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Apple expands Hyderabad presence, leases fresh 64,125 sq ft in WaveRock IT Park, taking total footprint to 5 lakh sq ft
Hyderabad real estate: Apple has leased 64,125 sq ft of additional office space in WaveRock Tower at ₹125 per sq ft, property documents show
Apple India has leased 64,125 sq ft of additional office space in Hyderabad for a monthly rent of ₹80.15 lakh for five years, documents accessed by Propstack showed.
This marks an expansion of Apple’s existing offices located in the project by TSI Business Parks Ltd in Hyderabad. According to Propstack, the company has taken several office spaces in the project, totalling over 5 lakh sq ft, through multiple leases. The first lease spanning 2.32 lakh sq ft was signed in 2016.
The additional space Apple recently leased is located in WaveRock Tower 2.1 in Nanakramguda. It has been leased from TSI Business Parks (Hyderabad) Private Limited, with the agreement starting on July 1, 2025.
The lease covers the upper ground and third floors of the tower and has been signed for 60 months. Apple will pay a monthly rent of ₹80.15 lakh at a rate of ₹125 per sq ft. This includes a warm shell rent of ₹74.18 per sq ft and a fit out rent of ₹50.82 per sq ft, the documents showed.
Also Read: Apple expands India footprint, leases 2.7 lakh sq ft office space in Bengaluru for 10 years at ₹1,010 crore
A warm shell rent refers to the rental cost for office space that comes with basic interior work already done, making it nearly ready to occupy.
The company paid the landlord a security deposit of ₹4.8 crore. The documents showed that the rent would increase by 4.77% annually over the lease period.
Apple has been designated 64 car parking spaces (1 reserved space for every 1,000 sq. ft. of leasable area) at no additional cost. Each space can be used for either one car or up to six two-wheelers. The agreement showed that additional parking spaces may be provided, subject to availability and payment of extra rent.
The lease has a lock-in period of three years from the rent commencement date. During this time, neither party can terminate the lease, except under the specific conditions mentioned in the agreement.
Apple’s Hyderabad office, officially inaugurated by CEO Tim Cook in May 2016, serves as a key development hub for Apple Maps, specializing in geospatial technology and data modeling.
An email query has been sent to Apple India Private Limited and TSI Business Parks. The story will be updated if a response is received.
Also Read: Apple's new Bengaluru office to seat over 1,200 employees, largest in India yet: Report
Previous real estate transactions by Apple
Last month, Apple leased around 2.7 lakh sq ft of office space in real estate developer Embassy Group’s project Embassy Zenith in Bengaluru for a 10-year term, with a total rental outlay of over ₹1,000 crore, setting a benchmark with lease rates touching almost ₹235 per sq ft per month.
In May 2025, Apple India leased 7997.8 sq ft of retail space in North Bengaluru's upscale Phoenix Mall of Asia for an annual rent of ₹2.09 crore for 10 years, according to documents accessed by Propstack. The lease has a tenure of 10 years with a 15% escalation in both rent and security deposit every three years. Apple has paid a security deposit of ₹1.046 crore, the document showed.
Real estate experts say Foxconn’s new facility in Bengaluru is driving demand for homes and commercial spaces in Devanahalli, supported by job creation and improving infrastructure.
Foxconn is the largest manufacturer of iPhones, and the second-biggest facility outside China in Devanahalli near Bengaluru, being set up at an investment of $2.8 billion (about ₹25,000 crore).
The Taiwanese electronics major has recently begun small-scale production of the iPhone 17 at the plant, which is its second-largest manufacturing unit, according to sources cited by PTI.
