Apple Secures ₹65 Crore Lease Deal for Fifth India Store at DLF Mall of India, Noida

The technology giant Apple has reportedly expanded its retail presence in India with the opening of its fifth store at DLF Mall of India in Sector 18, Noida. Industry sources indicate that the store, which commenced operations on December 11, 2025, marks the company's second outlet in the Delhi NCR region and underscores its growing commitment to premium consumer markets across urban India.

Store Configuration and Location Details

The new Apple store occupies a total carpet area of approximately 8,240.78 square feet on the ground floor of the mall, market observers note. Reports suggest that six adjoining ground-floor retail units have been combined to create the flagship space. The location is expected to serve customers from Noida, Greater Noida, Ghaziabad, South Delhi, Agra, and surrounding areas, positioning it as a strategic hub for the tech-savvy consumer base in the region. This development aligns with Noida's emergence as the new epicentre of premium real estate in Delhi NCR.

Lease Terms and Rental Structure

According to property registration documents, Apple has reportedly signed an 11-year lease agreement with a total value of approximately ₹65 crore. The monthly rental commitment is understood to be around ₹45.3 lakh, translating to a rent of ₹263.15 per square foot. The annual rental obligation is estimated at approximately ₹5.4 crore, with a 15% rent escalation clause built into the agreement every three years.

Sources familiar with the matter indicate that the lease agreement, signed on February 25, 2025, includes a one-year rent-free period, a common incentive offered to premium anchor tenants in high-footfall retail destinations. Such deals reflect the growing demand for commercial property investments in Gurgaon and Noida.

Strategic Significance of the Expansion

The Noida store represents Apple's fifth retail outlet in India, following successful launches in Mumbai, Delhi, Bengaluru, and Pune. Real estate analysts observe that the store size of approximately 8,000 to 9,000 square feet aligns with Apple's broader India strategy of establishing presence in premium, high-visibility locations. The mall expansion momentum in Delhi-NCR has reportedly attracted several global brands seeking flagship retail spaces.

Being situated in one of India's largest malls with significant footfall, the store is strategically positioned to capture the attention of affluent, technology-oriented consumers. The move is seen as part of Apple's efforts to strengthen its direct retail presence amid rising demand for luxury retail and premium consumer experiences in India.

Real Estate Market Implications

Industry experts note that Apple's lease rate remains competitive given the mall's stature, where smaller retail units typically command higher per-square-foot rentals. The long-term lease commitment reportedly signals strong confidence in India's growing luxury retail segment and the consumer electronics market. The trend mirrors broader developments where India's top cities are witnessing record mall development.

The rental terms are indicative of sustained retailer demand for experiential flagship retail spaces in Tier-1 cities, market observers suggest. Similar premium retail investments have been witnessed with projects like Bharti Real Estate's ambitious Aerocity retail mall project.

Broader Market Context

The store's catchment area extends to rapidly developing regions, including Ghaziabad, which is emerging as a top real estate investment destination. With NCR's luxury segment continuing to expand, Delhi-NCR's dominance in the high-end market has created a conducive environment for premium international brands seeking direct consumer engagement.

Apple's Noida launch is expected to further strengthen its India retail network and represents a significant commitment to the NCR market. With a high-value lease in a top-tier location, the tech major appears to be betting on India's rising premium consumption trends while reinforcing its long-term vision for the market, according to retail industry analysts.

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