Apple India Private Limited has leased 57,000 sq ft of office space at WaveRock IT Park in Hyderabad for five years at a monthly rent of ₹71.6 lakh, expanding its total footprint at the campus to approximately 6.34 lakh sq ft, according to documents accessed by Propstack.
Apple India Private Limited has taken five floors in Tower 2.1 (Tower 1 of Phase II) at WaveRock, owned by TSI Business Parks (Hyderabad) Private Limited. The lease is a fresh transaction and commenced on December 1, 2025, the document showed.
The total chargeable area under the deal is 57,343 sq ft, with a monthly rent of approximately ₹71.67 lakh, at ₹125 per sq ft per month. This includes a warm shell rent of ₹74.18 per sq ft per month and a fit-out rent of ₹50.82 per sq ft per month.
A warm-shell rent refers to the rental cost for office space that already includes basic interior work, making it nearly ready to occupy.
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As part of the agreement, Apple has paid a security deposit of ₹4.30 crore. The lease also includes an annual escalation clause of 4.77% and a three-year lock-in period, according to the document.
The transaction also includes 57 car parking spaces, and additional spaces can be obtained by paying ₹3,500 per month per car park, it said.
WaveRock is one of Hyderabad’s prominent IT parks located in the Financial District of Nanakramguda.
Last September, Apple had leased 64,125 sq ft of additional office space in the same campus for a monthly rent of ₹80.15 lakh for five years. According to Propstack, the company has taken several office spaces in the project, totalling over 6 lakh sq ft, through multiple leases. The first lease spanning 2.32 lakh sq ft was signed in 2016.
An email query has been sent to Apple India Private Limited and TSI Business Parks. The story will be updated if a response is received.
Also Read: Apple expands Hyderabad presence, leases fresh 64,125 sq ft in WaveRock IT Park, taking total footprint to 5 lakh sq ft
Previous transactions by Apple
Earlier, Apple India Pvt Ltd had 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.
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The tech giant paid a total of ₹1,010 crore over 10 years, inclusive of rent, parking, and common area maintenance charges, the documents showed.
Apple’s much-anticipated retail outlet at Phoenix Mall of Asia in North Bengaluru’s Hebbal opened on September 2, 2025, 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 spanned 7,997.8 sq ft and was leased for 10 years, 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.
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 10-year term, with a 15% escalation in both rent and the security deposit every 3 years. Apple has paid a security deposit of ₹1.046 crore, according to the document.