Mumbai’s office property market has set a new benchmark with the highest-ever lease rentals in the country. Apple Inc. has secured a 6,526 sq ft office space in Bandra-Kurla Complex (BKC), committing to a monthly rental of ₹738 per sq ft.

The American tech giant’s India arm has leased the office space in Maker Maxity for a five-year term. Located on the 10th floor of one of the towers, the office also includes a 2,126 sq ft open terrace.

The lease agreement was officially registered in December, with the tenancy beginning on January 1, according to reports.

Before Apple’s deal, the record for the most expensive office lease was held by IMC India Securities. The global market maker had leased a 5,830 sq ft office space in the same BKC complex for ₹700 per sq ft, though for a significantly shorter five-month term.