What is Apple paying for its new Noida store? Lease duration, floor plan, more

Apple has launched its second store in the National Capital Region (NCR) and its fifth overall in India. This new location marks the tech giant's inaugural outlet in Uttar Pradesh, strategically positioned to cater to residents in nearby areas such as Ghaziabad, Greater Noida, and Agra. While the exact leasing costs have not been officially disclosed by Apple or DLF Mall of India, a report from Hindustan Times provides insights into the financial arrangements. According to CRE Matrix data cited by the publication, Apple is reportedly paying around ₹45 lakh per month for the Noida store. This figure aligns closely with the effective rent for their Saket outlet. The leasing dynamics appear to vary within the mall, with smaller stores reportedly paying between ₹500 to ₹700 per square foot. In contrast, larger outlets like Apple’s are leased at more favorable rates due to their size and enhanced bargaining power. For the new store, Apple has secured six units on the ground floor of DLF Mall, encompassing a carpet area of 8,240.78 square feet at a monthly rate of ₹263.15 per square foot over an 11-year lease, which includes a year of rent-free occupancy. Notably, this new store is nearly double the size of the Apple Store located in Select Citywalk, Saket. Apple’s first store in Mumbai's Bandra Kurla Complex was followed by the Saket location, and more recently, the company has opened two additional stores in Bengaluru and Pune. In conjunction with the store opening, Apple is introducing exclusive Noida-themed wallpapers and a specially curated Apple Music playlist that reflects the city's unique sounds. As with its other stores, the Apple Noida location operates on 100% renewable energy and maintains a carbon-neutral status. Customers will have access to a comprehensive range of Apple products, including the latest iPhones, Apple Watch Ultra 3, Apple Watch Series 11, iPad Pro, and MacBook Pro lines.