Qatar National Bank has renewed its lease for an 8,079 sq ft office space at Maker Maxity in Mumbai’s Bandra Kurla Complex (BKC), one of the city’s most premium commercial districts. The starting monthly rent for the space has been set at ₹62.6 lakh, according to documents accessed by Propstack.
The lease covers the ground floor of 4 North Avenue, with the rent working out to ₹775 per sq ft per month. The bank has been in the property since 2016 when the rent was ₹381 per sq ft. Before the recent renewal, it went up to ₹438 per sq ft in 2020, thus showing the gradual rise of rental rates in the top commercial areas of Mumbai.
The fresh lease is a five-year one, beginning from October 26, 2026, and it comprises of a yearly increment of 4.5% in the rent A security deposit of ₹7.51 crore has also been registered. The lease comes with a lock-in period of five years, extending until October 25, 2031, and includes 10 car parking spaces. The landlord for the property is Agni Commex LLP.
“This deal reflects the continued strength and confidence in Mumbai’s prime commercial real estate,” said Raja Seetharaman, Co Founder of Propstack. “It also shows a strategic move by a global bank to reinforce its long-term presence in a key business district. Maker Maxity continues to attract strong demand for top-grade office spaces, with supply remaining limited.”
Located at BKC, Bandra Kurla Complex is the centre of the city's Mumbai central business district. BKC has become the city’s most prominent hub for the banking, finance, and corporate sectors. Perfectly placed , the hub also has spaces for the luxury retail that pamper the area too, besides the high-end office spaces.
Besides global banks, the area also houses leading investment houses, along with a spread of challenges facing worldwide insurance companies and wealth management agencies.
BKC is home to the MMRDA, GST offices, and RBI besides the Income Tax Department and Family Court. The US consulate, Jio Convention Centre, Trident and Sofitel luxury hotels together define the area’s VIP side, a spot fashionable enough to host the best. Cheerleaders Jio, Apple, Netflix, Google, Facebook, Amazon, NSE, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify and Blackstone are some of the biggies that have chosen BKC as their office space.
The region of BKC (Bandra Kurla Complex) is still one of those places where office leases are signed with sky-high prices. In August 2025, BNP Paribas is renting a 3,497 sq ft ground-floor space at Maker Maxity for ₹811 per sq ft per month. The 5-year lease, which was coupled with the provision of three car parking spots, amounted to around ₹17 crore, thus BKC is India's most expensive commercial district.
In June 2025 JP Morgan Private Limited tapped a new office site at Goisu Realty Tower by signing a pre-lease agreement for 1.16 lakh sq ft of space. Goisu Realty Private Limited is a Japan’s Sumitomo Realty & Development Company subsidiary. The tower is located at Plot No. 65 in G Block, BKC and is expected to open by October 1, 2026. The minimum monthly rent for the agreement is ₹6.91 crore, or ₹595 per sq ft.
The BKC is a perfect match for multinational firms because of its well-designed business district, top-of-the-line offices, and the fact that it is near the airport. Top world companies in the market keep growing at this location and therefore demand for the class A offices is still very high as the supply is less and rental rates engendered are kept at a high level.
Moreover, by renewing its lease, Qatar National Bank is just another proof of the high level and low risk of Mumbai’s commercial real estate sector, which is evolving in a way that most companies are willing to pay a premium to secure prime locations in the city’s financial hub.
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