BNP Paribas leases office in Mumbai's BKC for Rs 811 per square feet

In another Rs 800+ lease deal, BNP Paribas has leased 3,497 square feet (sq ft) of space in Mumbai’s Bandra Kurla Complex (BKC) at a monthly rent of Rs 811 per sq ft, as per the registration documents provided by Propstack.

 

The French financial services firm will pay a total rent of Rs 28.36 lakh per month. The office space is located at 1 North Avenue, Maker Maxity. The lease tenure is five years, and the rent will escalate by 5 per cent every year. By August 2030, the firm will pay a rent of Rs 34.14 lakh.

 

The lease period will commence on August 16, 2025. BNP Paribas has paid a security deposit of Rs 3.4 crore.

   

The transaction was registered on February 18, 2025. It incurred a stamp duty of Rs 5.11 lakh and a registration fee of Rs 1,000.

 

This is the second lease deal in BKC with a rent of more than Rs 800 per sq ft per month. Recently, Elon Musk’s Tesla Motors and Energy leased a space of 4,003 sq ft at 2 North Avenue, Maker Maxity, at Rs 881 per sq ft per month for its showroom.

 

Mumbai's BKC is India’s costliest office market. It hosts numerous multinational companies, including Google and Apple. As of December 2024, the area's weighted average quoted rents (WAQR) ranged from Rs 250 to Rs 400 per sq ft per month.

 

BNP Paribas leased the space from Neelammegha Investments and Trading Company.