Mumbai real estate: BNP Paribas leases office space at a record rent of ₹811 per sq ft in BKC
Mumbai real estate: Global banking major BNP Paribas has leased 3,497 sq ft office space in Maker Maxity in BKC for ₹811 per sq ft, setting a new benchmark
Global banking giant BNP Paribas has secured a premium office space at Maker Maxity in Mumbai's Bandra Kurla Complex (BKC), leasing a 3,497 sq ft ground-floor unit at a monthly rent of ₹811 per sq ft. The Mumbai real estate lease deal, valued at around ₹17 crore over five years, ranks among the highest-value commercial property deals in India, solidifying BKC as the country’s most expensive commercial district, documents accessed by Propstack showed.
Documents show that the lease was registered on February 18, 2025, with the lease period commencing on August 16, 2025. The office space is located in Maker Maxity, Tower 1 North Avenue. The landlord is Neelammegha Investments and Trading Company Private Limited, it added.
The monthly rent for the deal amounts to ₹28.36 lakh, with the space and three car parking spots rented, according to the documents.
Elon Musk's automotive company, Tesla, has taken 4,000 sq ft of showroom space in BKC's Maker Maxity for ₹23.38 crore for five years. The space has been taken on rent by Tesla along with two car parking spaces, and the per sq ft rent works out to be ₹881.
Documents for the BNP Paribas deal show that the security deposit for the Mumbai real estate transaction is ₹3.4 crore, and the rental agreement has a 5% per month rent escalation clause on a per annum basis.
An email query has been sent to BNP Paribas and Neelammegha Investments and Trading Company Private Limited. If a response is received, the story will be updated.
The transaction marks the second-highest per sq. ft. rent recently, following Tesla’s office lease in BKC’s Maker Maxity.
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All about Bandra Kurla Complex
BKC is Mumbai's central business district (CBD) and a key hub for the Banking and Financial Services Industry (BFSI) and Fortune 500 companies. It ranks among India's most expensive commercial districts, hosting global giants like Apple, Netflix, Facebook, Amazon, Spotify, and Pfizer, alongside financial heavyweights such as the National Stock Exchange, Standard Chartered Bank, and Blackstone.
The commercial district also houses major co-working spaces like WeWork and tech firms like CISCO. Additionally, BKC has several government offices, including the Reserve Bank of India, the GST and Income Tax departments, and the Family Court. The US Consulate’s expansive campus further solidifies BKC’s status as a powerhouse of business and governance.
In February 2025, Google India Private Limited and Google Cloud India Private Limited were in the news for extending their Mumbai real estate office space leases in Bandra-Kurla Complex (BKC), the country's priciest commercial district. According to property registration documents accessed by SquareYards, the renewed leases are valued at ₹304 crore for five years.
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