Written by Tanisha Cardozo || Team Allycaral Business Desk
Apple is set to open its first retail store in Noida at DLF Mall of India, marking the company’s fifth store in India and its second in the Delhi-NCR region, following the Saket outlet. The new store spans 8,240.78 sq ft across six units on the mall’s ground floor and has been leased for an 11-year tenure at a total rent of approximately ₹65 crore. The lease agreement, signed with Paliwal Real Estate Limited on February 25, 2025, includes one year of rent-free occupancy and a 15% rent escalation every three years.
The monthly rent for the Noida store comes to around ₹45.3 lakh, translating to an annual outgo of roughly ₹5.4 crore, comparable to Apple’s Saket store. Experts note that the lease reflects Apple’s strong brand pull and the footfall it attracts. While smaller stores in DLF Mall of India command rents between ₹500–700 per sq ft, larger stores such as Apple’s enjoy comparatively lower rates due to negotiation leverage and size.
Noida offers a strategic location for Apple, with a catchment area covering Ghaziabad, Greater Noida, South Delhi, Agra, Mathura, and emerging demand hubs, underlining the city’s growing market potential. DLF Mall of India, the largest mall in Noida at nearly one million sq ft, provides a high-visibility, premium retail environment and is expected to see further development with IKEA’s planned opening in Sector 52 by 2030.
Apple’s retail expansion in India has been methodical, with stores in Mumbai’s Bandra Kurla Complex, Pune’s Koregaon Park, Bengaluru’s Phoenix Mall of Asia in Hebbal, and Delhi’s Saket. Most stores are around 8,000–9,000 sq ft, ensuring brand consistency across locations, with the exception of Mumbai BKC, which spans 20,000 sq ft.
Recent openings, such as in Bengaluru and Pune, have featured Apple’s peacock-inspired launch campaigns, symbolizing pride and creativity. The Noida store follows the same creative approach, enhancing Apple’s brand narrative and retail experience.
Rental trends in Noida show a significant rise, particularly in Grade A-plus malls, with rents climbing from ₹225 per sq ft in 2017 to ₹330 per sq ft in 2025, reflecting a 47% growth. Apple’s lease agreement in Noida exemplifies the premium retailers’ interest in the city’s expanding consumer market and its importance within the Delhi-NCR region.
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