BNP Paribas Secures Premium Office Space in BKC, Mumbai at INR 811 per Sq Ft

Setting a New Benchmark in Commercial Leasing

Global banking leader BNP Paribas has finalized a lease for a prime office space in Mumbai's prestigious Bandra Kurla Complex (BKC). The bank has taken a ground-floor unit in the commercial complex Maker Maxity's 1 North Avenue, agreeing to a monthly rental rate of ₹811 per square foot.

This transaction stands among the most expensive commercial property deals in India. ​

Lease Agreement Details

Lease Finalization Date: February 18, 2025​

Lease Commencement Date: August 16, 2025​

Lease Tenure: 5 years​ hindustantimes.com

Occupied Area: 3,497 sq ft​ business-standard.com

Monthly Rent: ₹28.36 lakh​ Security Deposit: ₹3.4 crore​

Annual Rent Escalation: 5%​ The lease agreement includes a clause for a 5% annual escalation in rent. ​

BKC: A Magnet for High-Profile Leases

BKC continues to attract global corporations seeking premium office spaces. Notably, Tesla, the electric vehicle manufacturer owned by Elon Musk, recently leased a 4,003 sq ft showroom space in the same complex at a record ₹881 per sq ft per month. This sets a new national benchmark for lease rentals, making it the most expensive auto showroom lease deal in the country. ​

BNP Paribas' Strategic Expansion

BNP Paribas' decision to secure this premium space underscores its commitment to strengthening its presence in India's financial hub. While the bank already operates offices across several floors in the building, it remains unconfirmed whether this lease represents a renewal or a new agreement. ​