Global consulting firm McKinsey & Company India LLP has renewed its office lease at Maker Maxity (1 North Avenue) in Mumbai’s Bandra-Kurla Complex (BKC), locking in a 10-year agreement at a monthly rent of Rs 2.58 crore. The transaction stands out as one of the most high-value commercial leasing deals in India’s financial capital, according to documents accessed from Propstack.
The lease renewal, effective from October 1, 2026, covers around 35,520 sq ft of premium office space spread across the ground, first, second, and ninth floors of the building. The deal structure reflects strong demand for Grade-A commercial real estate in BKC, Mumbai’s leading central business district.
As per the agreement, the ground floor space is priced at Rs 759 per sq ft per month, while the second and ninth floors are leased at Rs 705 per sq ft per month. The combined rental outgo totals Rs 2.58 crore monthly. The lease also includes a security deposit of Rs 30.94 crore and a standard 5% annual escalation clause, typical of institutional-grade corporate leases.
The renewal consolidates three earlier agreements signed in 2021. At that time, ground and first-floor spaces were leased at Rs 463 per sq ft, later rising to Rs 562 per sq ft by 2025. Similarly, the upper-floor spaces, initially contracted at Rs 410 per sq ft, had escalated to Rs 498 per sq ft before the current revision.
Bandra-Kurla Complex continues to be one of India’s most expensive and sought-after business districts, housing global corporations such as Apple, Amazon, Netflix, Facebook, Spotify, and Pfizer, along with financial institutions like the National Stock Exchange, Standard Chartered Bank, and Blackstone. The area also hosts co-working players like WeWork and key government offices, including the RBI and Income Tax Department.
Recent leasing activity highlights the momentum in BKC’s commercial market. Google India renewed its office leases worth Rs 304 crore over five years, while BNP Paribas and JP Morgan have also executed high-value transactions in the district, reinforcing its position as Mumbai’s premium business hub.
Source: Hindustan Times
