Global consulting firm McKinsey & Company has renewed the lease for its Mumbai office spread across four floors in Bandra Kurla Complex (BKC), reinforcing sustained demand for Grade A commercial space in the country’s most expensive office market.
The deal, signed through three separate agreements, involves rentals of as much as Rs 759 per sq ft a month, placing it among the highest office lease rates recorded in India.
The lease, effective October 1, 2026, covers the ground, first, second and ninth floors at Maker Maxity-1 North Avenue in BKC and has been signed for 10 years, underlining the long-term commitment of global occupiers despite elevated rentals.
McKinsey & Company India LLP has renewed the lease for a total chargeable area of 35,520 sq ft, according to documents accessed through Propstack, a real estate data analytics platform.
Additionally, McKinsey & Company continues to occupy 21,582 sq ft across the third and tenth floors of this building, while retaining its existing office in Express Towers, Nariman Point.
McKinsey & Company declined to comment for the story.
The agreements include a 5% annual escalation clause, in line with prevailing market practice for institutional-grade office assets in high-demand commercial districts.
The rental structure reflects the premium commanded by ground-floor office space in BKC. The ground floor has been leased at Rs 759 per sq ft a month, while the second and ninth floors are priced at Rs 705 per sq ft a month. The total monthly rental outgo is estimated at around Rs 2.58 crore.
Including annual escalation, the total rental commitment over the 10-year tenure is estimated at around Rs 390 crore. The security deposit for the transaction stands at Rs 30.94 crore, indicating strong landlord leverage in one of India’s tightest office markets.
The transaction ranks among the country’s top five costliest office leases in terms of monthly rentals per sq ft. Other high-value transactions include Tesla’s lease at Rs 881 per sq ft at Maker Maxity 2, Optiver India’s deal at around Rs 822 per sq ft at FIFC, BNP Paribas’ lease at about Rs 811 per sq ft at Maker Maxity 1, and Qatar National Bank’s renewal at Rs 775 per sq ft at Maker Maxity 4. The deal also surpasses Apple’s earlier lease at Rs 739 per sq ft at Maker Maxity 5.
BKC remains among the country’s most expensive commercial districts, driven by proximity to financial institutions and continued demand from multinational corporations, financial services firms and global capability centres.
Experts said global firms are increasingly choosing to retain and expand within established business districts rather than relocate, prioritising infrastructure and location advantage over lower rentals elsewhere.
The deal, signed through three separate agreements, involves rentals of as much as Rs 759 per sq ft a month, placing it among the highest office lease rates recorded in India.
The lease, effective October 1, 2026, covers the ground, first, second and ninth floors at Maker Maxity-1 North Avenue in BKC and has been signed for 10 years, underlining the long-term commitment of global occupiers despite elevated rentals.
McKinsey & Company India LLP has renewed the lease for a total chargeable area of 35,520 sq ft, according to documents accessed through Propstack, a real estate data analytics platform.
Additionally, McKinsey & Company continues to occupy 21,582 sq ft across the third and tenth floors of this building, while retaining its existing office in Express Towers, Nariman Point.
McKinsey & Company declined to comment for the story.
The agreements include a 5% annual escalation clause, in line with prevailing market practice for institutional-grade office assets in high-demand commercial districts.
The rental structure reflects the premium commanded by ground-floor office space in BKC. The ground floor has been leased at Rs 759 per sq ft a month, while the second and ninth floors are priced at Rs 705 per sq ft a month. The total monthly rental outgo is estimated at around Rs 2.58 crore.
Including annual escalation, the total rental commitment over the 10-year tenure is estimated at around Rs 390 crore. The security deposit for the transaction stands at Rs 30.94 crore, indicating strong landlord leverage in one of India’s tightest office markets.
The transaction ranks among the country’s top five costliest office leases in terms of monthly rentals per sq ft. Other high-value transactions include Tesla’s lease at Rs 881 per sq ft at Maker Maxity 2, Optiver India’s deal at around Rs 822 per sq ft at FIFC, BNP Paribas’ lease at about Rs 811 per sq ft at Maker Maxity 1, and Qatar National Bank’s renewal at Rs 775 per sq ft at Maker Maxity 4. The deal also surpasses Apple’s earlier lease at Rs 739 per sq ft at Maker Maxity 5.
BKC remains among the country’s most expensive commercial districts, driven by proximity to financial institutions and continued demand from multinational corporations, financial services firms and global capability centres.
Experts said global firms are increasingly choosing to retain and expand within established business districts rather than relocate, prioritising infrastructure and location advantage over lower rentals elsewhere.
