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Apple opens third India store in Bengaluru’s Hebbal, spanning 8,000 sq ft with an annual rent of ₹2.09 crore
Bengaluru real estate: Apple’s new store at Phoenix Mall of Asia spans 8,000 sq ft and has been leased for 10 years at an annual rent of ₹2.09 crore
Apple’s much-anticipated retail outlet at Phoenix Mall of Asia in North Bengaluru’s Hebbal opened on September 2, marking the company’s third official store in India after Apple BKC in Mumbai’s Bandra Kurla Complex and Apple Saket in Delhi, both launched in 2023.
The Bengaluru store spans 7,997.8 sq ft under a 10-year lease signed in November 2024. According to documents accessed by Propstack, rent payments began in August 2025 at an annual ₹2.09 crore, with Apple placing a ₹1.046 crore security deposit. Both rent and deposit will increase by 15% every three years.
Alongside the fixed lease, Apple has also agreed to a revenue-sharing model, almost 2% of revenue for the first 36 months and 2.5% thereafter. However, revenue share payments are capped at twice the value of the applicable yearly minimum guaranteed rent, the document showed.
The move builds on CEO Tim Cook’s earlier commitment to deepen Apple’s presence in India, a market the company views as central to its long-term growth strategy.
Also Read: Apple India leases 8000 sq ft of retail space in Bengaluru for ₹2 crore annual rent as Foxconn facility nears completion
Apple Hebbal: What’s inside
The new Apple Hebbal store is staffed by a diverse team of 70 specialists hailing from 15 states across India, reflecting the company’s focus on inclusivity and local representation. True to Apple’s global standards, the store operates entirely on renewable energy and maintains a carbon-neutral footprint, reports said.
Shoppers will find Apple’s complete product lineup on display, from the newly launched iPhone 16 series to iPads, AirPods, and a wide range of accessories. The store also houses a Genius Bar for technical support, while dedicated Business Pros are available to guide entrepreneurs and small companies on using Apple products effectively. Adding to the experience are daily Today at Apple sessions designed to spark creativity and help customers make the most of their devices, the reports said.
For those who prefer the convenience of digital shopping, the store includes a streamlined pickup zone where online orders can be collected with ease.
Also Read: Apple Hebbal store opens, first customer queues 7 hours for entry
Apple India’s landmark rental deal
In December last year, Apple India signed one of the country’s most expensive commercial lease agreements when it secured 6,526 square feet of space at Bandra Kurla Complex (BKC) in Mumbai. The space, located in Maker Maxity-5, came at a staggering rental rate of ₹738 per square foot per month.
The five-year lease translated into a monthly outgo of ₹48.19 lakh, with Apple placing a hefty security deposit of ₹4.33 crore at the time of signing. The arrangement also included two lock-in periods, the first ending on December 31, 2027, and the second a year later, on December 31, 2028, ensuring stability for both the landlord, Agni Commex LLP, and the tenant, documents shared by Propstack had said.
Apple’s store in Delhi is located in Saket at Select Citywalk Mall. The retail store spans across 22,000 sq ft with an initial rent of ₹40 lakh per month, reports said.
