Japan-based Sumitomo Mitsui Banking Corporation (SMBC) has leased nearly 50,000 square feet of commercial office space in Mumbai’s Bandra-Kurla Complex (BKC) for five years, committing to a total rental outlay of approximately Rs 189 crore. The property has been leased from Goisu Realty Private Limited, the Indian real estate arm of Japan’s Sumitomo Realty and Development Co. Ltd., according to registration documents accessed by Propstack.
The transaction covers 49,820 square feet on an upper floor of Sumitomo C65, a commercial tower in BKC. Dated October 6, 2026, the agreement specifies a monthly rental rate of ₹694 per square foot, amounting to an initial monthly rent of approximately Rs 3.46 crore.
At this rate, the annual rental expenditure is estimated at around Rs 41.5 crore before applicable escalations. The agreement provides for a 15% increase in rent every three years. SMBC has also paid a security deposit of Rs 35.115 crore.
The lease includes a rent-free period of nine months, with rental payments scheduled to begin in June 2027. Emails seeking comments from SMBC and Goisu Realty were sent, and the report stated that it would be updated if responses were received.
Japanese Developer Expands Its Mumbai Presence
Goisu Realty operates as part of Japan’s Sumitomo Realty and Development group, which has been developing commercial office properties in Mumbai. Sumitomo C65 is part of the group’s broader Indian expansion strategy, built around long-term office development, leasing and property management.
The latest transaction follows another major deal involving the developer. In 2025, US financial services company JP Morgan Private Limited pre-leased approximately 1.16 lakh square feet in a commercial tower being developed by Goisu Realty in BKC. The transaction reportedly carried a monthly rent of Rs 6.91 crore.
BKC Continues to Attract Major Corporate Occupiers
Bandra-Kurla Complex has emerged as a major commercial hub in Mumbai, hosting government departments, financial institutions, multinational companies and premium hospitality establishments.
Key public institutions in the district include the Mumbai Metropolitan Region Development Authority (MMRDA), the Reserve Bank of India, the Income Tax Department, the Goods and Services Tax authorities and the Family Court. The US Consulate is also located in the vicinity of the Jio World Convention Centre.
The business district houses offices of several prominent companies, including Jio, Apple, Netflix, Google, Amazon, Tesla, the National Stock Exchange, Standard Chartered Bank, Cisco, Pfizer, Spotify and Blackstone. Luxury hotels such as Sofitel and Trident further strengthen its commercial appeal.
SMBC’s lease adds to the series of large office transactions recorded in BKC, reflecting continued corporate demand for premium commercial space in one of Mumbai’s key business districts.
Source: Hindustan Times
