Global consulting firm McKinsey & Company has renewed its lease for a Mumbai office spanning four floors in Bandra Kurla Complex (BKC). This move underscores the persistent demand for Grade A office space in India’s most expensive commercial market.
The agreement, finalized through three separate contracts, features rentals up to Rs 759 per sq ft per month, marking it as one of the highest office lease rates in the country.
The lease, effective from October 1, 2026, encompasses the ground, first, second, and ninth floors at Maker Maxity-1 North Avenue in BKC. The 10-year agreement highlights global landlords’ long-term commitment despite rising rental prices.
According to documents from Propstack, a real estate analytics platform, McKinsey & Company India LLP is renewing its lease for a total chargeable area of 35,520 sq ft.
In addition, McKinsey & Company continues to lease 21,582 sq ft across the third and tenth floors of the building, while also maintaining its existing office at Express Towers, Nariman Point.
McKinsey & Company has chosen not to comment on this development.
The agreements include a 5% annual escalation clause, consistent with market norms for institutional-grade office spaces in high-demand commercial areas.
The rental prices reflect the premium associated with ground-floor office space in BKC. The ground floor is priced at Rs 759 per sq ft per month, while the second and ninth floors are set at Rs 705 per sq ft per month. The overall monthly rental commitment is projected to be approximately Rs 2.58 crore.
With the annual escalation factored in, the total rental commitment over the 10-year term is estimated at around Rs 390 crore. A security deposit of Rs 30.94 crore indicates a strong position for landlords in one of India’s most competitive office markets.
This transaction is among the top five most expensive office leases in India based on monthly rental rates. Other notable deals include Tesla’s lease at Rs 881 per sq ft at Maker Maxity 2 and Optiver India’s agreement at around Rs 822 per sq ft at FIFC. Additionally, BNP Paribas signed a lease at about Rs 811 per sq ft at Maker Maxity 1, while Qatar National Bank’s renewal was at Rs 775 per sq ft at Maker Maxity 4. This deal also surpasses Apple’s previous lease at Rs 739 per sq ft at Maker Maxity 5.
BKC remains one of India’s priciest commercial districts, bolstered by its proximity to financial institutions and consistent demand from multinational corporations, financial services firms, and global capability centers.
Experts claim that global companies are increasingly opting to remain and expand in established business districts, prioritizing infrastructure and location advantages over potentially lower rents elsewhere.
