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What is Apple paying for its new Noida store? Lease duration, floor plan, more
What is Apple paying for its new Noida store? Lease duration, floor plan and other key details
Apple has opened its second store in the NCR region and its fifth overall store in India today. The new store is also the first official outlet by the tech giant in Uttar Pradesh, and the Noida outlet will potentially serve as a more accessible option for people in Ghaziabad, Greater Noida and Agra.
Apple Noida store rent:
While Apple or DLF Mall of India have not clarified how much the tech giant is paying monthly to lease out the place, a new report by Hindustan Times shares a key update on this. As per data by CRE Matrix quoted by HT, Apple is paying close to ₹45 lakh per month for its new outlet, which is said to be comparable to the effective rent the tech giant pays for its Saket outlet.Reportedly, the smaller stores at the mall pay ₹500 to ₹700 per sq ft, but larger outlets are said to be leased at lower rates owing to their size and stronger negotiation leverage.
Apple Noida store size:
For the new Apple Store, the tech giant is said to have leased six units on the ground floor of DLF Mall, which amounts to 8,240.78 sq ft (carpet area) at a price of ₹263.15 per sq ft per month for an 11 year period. This also includes one year of free rent.Reportedly, all the Apple Stores so far, except the one in Mumbai's Bandra Kurla Complex, are in the 8,000 to 9,000 sq ft range. The new store at DLF Mall of India is said to be almost twice the Apple Store in Select Citywalk in Saket.
How many Apple Stores are there in India?
Apple opened its first ever store in Mumbai's BKC and then soon followed it up with Apple Saket in Delhi. Just a couple of months back, the tech giant opened two new outlets with Apple Hebbal in Bengaluru and Apple Koregaon Park in Pune.With the launch of the new Apple Store, the company is also launching exclusive Apple Noida wallpapers and a curated Apple Music playlist, which it says is ‘inspired by the sounds of the city'.
Similar to other Apple Stores, the company says Apple Noida also runs on 100 percent renewable energy and is carbon neutral. Customers at the new outlet will be able to shop for the full lineup of products and services from Apple, including the latest iPhones, Apple Watch Ultra 3 and Apple Watch Series 11 models, the all new iPad Pro and MacBook Pro lineup.
Source: LiveMint
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