Apple India has signed a fresh lease for approximately 64,125 square feet of office space at WaveRock Tower 2.1 in Hyderabad’s Nanakramguda tech hub. The five-year lease, beginning July 2025, further strengthens Apple’s position in one of its largest development centres in India, underscoring its long-term commitment to the country’s talent and technology landscape.
Lease and Facility Details
Major Terms of the Agreement
- The new office spans the upper ground and third floors of WaveRock Tower 2.1.
- Apple will pay a monthly rent of ₹80.15 lakh, pegged at ₹125 per square foot, with separate warm shell and fit-out charges.
- The agreement includes a three-year lock-in, 60-month overall tenure, and annual 4.77% rent escalation.
- A security deposit of ₹4.8 crore has been paid.
Amenities and Expansion Context
- Apple receives 64 complimentary car parking slots, each convertible for multi-vehicle use.
- With this addition, Apple’s total Hyderabad footprint now exceeds 5 lakh square feet, marking a substantial rise from its initial 2.32 lakh sq ft lease at the same tech park in 2016.
- The facility continues to play a significant role in development for Apple Maps and other geospatial technologies.
Broader India Expansion
Apple’s real estate activities in India have intensified recently. In Bengaluru, it leased 2.7 lakh sq ft at Embassy Zenith for 10 years, and expanded retail presence in Bengaluru and Pune this year. The Hyderabad expansion coincides with a surge in Apple’s local manufacturing partnerships, notably Foxconn’s new iPhone production hub in Bengaluru.
FlexInsights Take
Apple’s new lease at WaveRock signifies a robust vote of confidence in Hyderabad as a pivotal tech and innovation hub. The scale and terms of the lease reflect global tech majors’ growing focus on India despite economic headwinds. Apple’s strategic investments, both in office and retail, support India’s evolving role in its global operational and R&D footprint.
