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Hindustan Times
3 hours ago
- Business
- Hindustan Times
Apple India leases 2.7 lakh sq ft office space from Embassy Group in Bengaluru for 10 years at over ₹1,000 crore
Apple India Pvt Ltd has 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, documents accessed by Propstack showed. Apple India Pvt Ltd has leased about 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 (Representational photo)(Pixabay) The tech giant will pay a total of ₹1,010 crore over 10 years, inclusive of rent, parking, and common area maintenance charges, the documents showed. The iPhones and IPads maker has leased nine floors, from the 5th to the 13th, with a carpet area of 1.96 lakh sq ft and a chargeable area of 2.68 lakh sq ft in Bengaluru's Sankey Road from Mac Charles (India) Ltd. Apple will pay ₹6.31 crore per month, translating to ₹235 per sq ft. Apple will receive a total of 362 car parking spaces as part of the deal, the documents showed. The company has deposited ₹31.57 crore as security, and the agreement includes an annual rent escalation of 4.5%, the documents showed. The company also has the option to lease additional space measuring 1.21 lakh sq ft across the ground to fourth floors, the documents showed. An email query has been sent to Apple India Private Limited and Embassy Group. The story will be updated if a response is received. Apple Inc has leased office space in a commercial project on a 2.3-acre land parcel, previously occupied by the Le Meridien hotel, overlooking Bangalore Golf Club and Cubbon Park. Embassy Group, which acquired the property years ago, is developing the tower comprising two basements, a ground floor, and 13 upper floors, the documents showed. 'Apple's 10-year commitment for prime office space in Bengaluru highlights their immense confidence in the Indian market. This investment in talent and operations runs parallel to their manufacturing scale-up for iPhones with companies like Foxconn. Together, these moves solidify India's crucial position at the heart of Apple's global supply chain and innovation efforts,' said Raja Seetharaman, co-founder Propstack. Other Apple India transactions in Bengaluru 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. Also Read: Bengaluru: Here's how Foxconn's iPhone plant is reshaping Devanahalli's real estate market The lease also included a revenue-sharing component, 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. According to media reports, in 2023 Apple leased several floors of Prestige Estates Projects' commercial building, Prestige Minsk Square, in Bengaluru's central business district on Cubbon Road, for 10 years at a starting monthly rent of ₹2.44 crore. Foxconn facility in Bengaluru Real estate experts note that Foxconn's facility in Bengaluru is already fueling demand for residential and commercial properties in Devanahalli, driven by rising employment opportunities and infrastructure development. Taiwanese electronics giant Foxconn's Bengaluru factory, its second-largest manufacturing unit, has commenced operation with production of iPhone 17 recently at a small scale, sources aware of the development told PTI. Also Read: Office leasing across top 8 cities clocks 48.9 mn sq ft in H1 2025; Bengaluru sees record absorption at 18.2 mn sq ft 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). "Foxconn Bengaluru unit has commenced operation with the production of iPhone 17. This is in addition to the production of iPhone 17 at its Chennai unit," a source aware of the development told PTI.
News18
2 days ago
- Entertainment
- News18
Hrithik Roshan And Rakesh Roshan Buy Three Offices Under HRX Digitech For THIS Whopping Amount
Hrithik Roshan and Rakesh Roshan have expanded their real estate portfolio by buying three office units in Mumbai's Chandivali under HRX Digitech LLP, worth crores. Hrithik Roshan is currently busy estimating the box office performance of his recently released film War 2, co-starring Kiara Advani and Jr NTR. In the midst of this, a report suggests that the actor has expanded his real estate portfolio by purchasing three office units in Mumbai's Chandivali under his and his father Rakesh Roshan's company, HRX Digitech LLP. As per property registration documents accessed by Propstack, the three office units are located on the first floor of the Boomerang building in Andheri East. The agreement was registered on July 9 and spans 13,546 sq ft. The transaction involved a registration fee of ₹30,000 along with a stamp duty of ₹1.86 crore. The sellers in the deal are Manish Krishangopal Bazari, Shalini Manish Bazari, and Bazspace Pvt. Ltd. This isn't Hrithik Roshan and his father Rakesh Roshan's company's first purchase in the building. Last year, the actor bought five office units on the fifth floor of the same building under the company's name, at a cost of about ₹37.75 crore. These offices cover a total carpet area of 17,389 sq ft. The deal was registered on September 5, 2024, with a stamp duty payment of ₹2.26 crore and a registration fee of ₹30,000. Last year, the father-son duo also made headlines for selling three residential flats in Mumbai's Andheri area for ₹6.75 crore. The combined size of the flats is about 2,000 sq ft, spread across two different buildings. Reportedly, Rakesh sold a 1,025 sq ft flat with two parking spaces in Veejays Niwas CHS, Andheri West, to Sonali Ajmera for ₹3.75 crore. Meanwhile, in the second sale, he sold a 625 sq ft flat in Raheja Classique, Andheri West, for ₹2.20 crore to Jeevan Bhavanani, Shilpa Wadhwani, and Gaurav Wadhwani. About War 2 Hrithik Roshan, Jr NTR, and Kiara Advani's high-octane spy thriller War 2 hit theatres on August 14, coinciding with the release of Rajinikanth's Coolie. According to early estimates from Sacnilk, War 2 earned ₹52.50 crore on its opening day across all languages. The Hindi version led the collections with ₹29 crore, while Telugu contributed ₹23.25 crore, and ₹0.25 crore came from other languages. The film also features notable supporting actors including Anil Kapoor, Ashutosh Rana, and a cameo by Bobby Deol, marking his introduction in Alpha and expanding the YRF spy universe. Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
3 days ago
- Entertainment
- Time of India
Hrithik Roshan buys Rs.31 crore office spaces in Mumbai's Chandivali
, along with his father , through their company HRX Digitech LLP, acquired three commercial office spaces in Mumbai's locality for a sum of Rs 31 crore, as per property registration data reviewed by Propstack. Tired of too many ads? go ad free now Location and property features According to a report by HT, the newly bought offices are located on the first floor of the Boomerang building in Chandivali, Andheri East. The property covers a carpet area of 13,546 sq ft and the purchase was officially registered on July 9, 2025. The transaction included a stamp duty payment of Rs 1.86 crore and registration charges amounting to Rs 30,000. Previous investment by Roshan family The Roshan family had previously invested in the same commercial complex, with HRX Digitech LLP acquiring five office units on the fifth floor of the Boomerang building in September 2024. Valued at Rs 37.75 crore, these spaces span 17,389 sq ft and involved a stamp duty of Rs 2.26 crore along with registration fees of Rs 30,000. Real estate activity The father and son have been actively engaging in Mumbai's property sector. In the past year, they offloaded three residential flats in Andheri, fetching Rs 6.75 crore from the sales. Bollywood celebrities' real estate trend in Andheri Hrithik has joined a rising wave of Bollywood stars investing in Andheri, alongside names like Randeep Hooda, , , Gauahar Khan, Zaid Darbar, Ronit Bose Roy, and , who have all recently acquired properties there. Career updates: Film releases and upcoming projects On the career front, Hrithik's film 'War 2', co-starring and Jr NTR, hit the theaters on August 14 and received a mixed response from audiences and critics alike. Additionally, Hrithik is gearing up for his directorial debut with 'Krrish 4', where he will also return as the lead. Although specific details about the project are still under wraps, filming is anticipated to commence by late 2025.
Hindustan Times
4 days ago
- Business
- Hindustan Times
Hrithik Roshan's firm purchases three office units in Mumbai's Chandivali area for ₹31 crore
Bollywood actor Hrithik Roshan and his father Rakesh Roshan's company HRX Digitech LLP has purchased three office units in Mumbai's Chandivali area for ₹31 crore, according to the property registration documents accessed by Propstack. Bollywood actor Hrithik Roshan and his father Rakesh Roshan's HRX Digitech LLP bought three Mumbai office units in Chandivali for ₹ 31 crore, Propstack said. (Representational Image)(File Photo ) The three office units are on the first floor of the Boomerang building in the Chandivali area of Andheri East. Documents show that the three office units are spread across an area of 13,546 sq ft, for which an agreement was registered on July 9, 2025. According to the property registration documents, the transaction involved a stamp duty of ₹1.86 crore and registration fees of ₹30,000. The sellers for the transaction include Manish Krishangopal Bazari, Shalini Manish Bazari, and Bazspace Pvt. Ltd. Neither the sellers nor the buyers could be reached for comment. A query sent to HRX Digitech LLP did not receive a response. If a response is received, the story will be updated. Also Read: John Abraham rents out three sea-facing apartments for ₹6.30 lakh per month in Mumbai's Bandra area Five office units bought last year by Hrithik Roshan and the Rakesh Roshan firm According to the property registration documents accessed by Propstack, the Roshan family entity bought five office units on the fifth floor of the same building in September 2024 for ₹37.75 crore. The five office units, spread across 17,389 sq ft carpet area, were purchased on September 5, 2024, after paying a stamp duty of ₹2.26 crore and a registration fee of ₹30,000, documents accessed by Propstack showed. According to property registration documents, Hrithik Roshan and his father, Rakesh Roshan, were also in the news last year for selling three residential apartments for ₹6.75 crore in Mumbai's Andheri area. Also Read: Hrithik Roshan and father Rakesh Roshan sell three apartments in Mumbai's Andheri for ₹6.75 crore Documents show that the three apartments measure close to 2,000 sq ft and have been sold in two different buildings. In the first transaction, Rakesh Roshan sold a 1,025 sq ft apartment in a building named Veejays Niwas CHS Limited in Andheri West. The property, along with two parking spaces, was sold to Sonali Ajmera for Rs. 3.75 crore. The transaction was registered on May 25, involving a stamp duty payment of Rs. 18.75 lakh and registration charges of ₹30,000, documents show. In the second transaction, Rakesh Roshan sold a 625 sq ft apartment in a building named Raheja Classique in Andheri West for Rs. 2.20 crore to three individuals named Jeevan Bhavanani, Shilpa Wadhwani, and Gaurav Wadhwani. The transaction was registered on May 17, and a stamp duty payment of Rs. 13.20 lakh and registration charges of Rs. 30,000 were paid for it.
Time of India
25-07-2025
- Business
- Time of India
Mahindra Logistics leases nearly 3 lakh sq ft industrial space in Pune
Mahindra Group's logistics and supply chain services arm Mahindra Logistics has picked up nearly 3 lakh sq ft of warehousing space at Sudhawadi, along the Talegaon-Chakan highway near Pune, through a long-term lease agreement spanning over five years. According to the lease agreement, the monthly rental is Rs 24 per sq ft, translating to a total monthly rent of Rs 71.37 lakh. The lease also includes an annual escalation of 5%, and the company has paid a security deposit of Rs 1.26 crore. The facility is expected to support Mahindra Logistics' expanding warehousing and distribution operations in western India. The company's warehouse space under management stands at 21.1 million sq ft. The lease covers a chargeable area of 297,400 sq ft, with a built-up area of 270,364 sq ft and it commenced on June 1, showed the documents accessed through realty data analytics platform Propstack. This deal adds to the growing list of long-term industrial leases being executed in the region, underlining continued demand for Grade A logistics and warehousing space from third-party logistics providers and manufacturers. Live Events ET's email queries to Mahindra Logistics remained unanswered until the time of going to press. India's warehousing and logistics sector continues to see a surge in activity, supported by rising consumption, government-led infrastructure initiatives, and evolving supply chain requirements. Long-duration leases such as this reflect the sector's growing maturity and occupiers' long-term confidence. India's warehousing and logistics sector is witnessing a surge in large-scale, long-term leasing activity, driven by robust demand from industries such as renewable energy, e-commerce, manufacturing, and third-party logistics. Developers are closing high-value deals, often with long-term tenures, signalling growing confidence in India's consumption-driven economy and supply chain infrastructure. These long-term commitments not only provide operational stability to tenants but also reflect the maturing nature of India's logistics market as it aligns with global standards.
