BNP Paribas Secures Prime Office Space in Mumbai’s BKC at 811 Per Sq. Ft. Per Month

Global banking giant BNP Paribas has leased a 3,497 sq. ft. office space in Maker Maxity’s 1 North Avenue, Bandra Kurla Complex (BKC) at a monthly rental of Rs. 811 per sq. ft., making it one of the most expensive commercial property deals in India. The lease, finalized on February 18, will commence on August 16 for a five-year term, with the bank paying a total monthly rent of Rs. 28.36 lakh to Neelammegha Investments and Trading Company. As part of the agreement, BNP Paribas has provided a 12-month security deposit of Rs. 3.4 crore, and the lease includes a 5% annual rental escalation clause, according to Propstack records.

This high-value transaction follows Tesla Inc.'s recent record-setting lease in BKC at Rs. 881 per sq. ft., surpassing Apple Inc.'s previous Rs. 738 per sq. ft. deal in January. The transaction reflects Mumbai’s sustained demand for premium office spaces, reinforcing its status as a preferred hub for multinational corporations, financial institutions, and investment firms. Despite global economic fluctuations, industry experts note that high-profile leasing deals such as this highlight the resilience and continued growth of India’s commercial real estate market.

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