SMBC Leases 50,000 Sq Ft in Mumbai BKC for Rs 189 Crore

Sumitomo Mitsui Banking Corporation (SMBC), a Japanese bank, has leased nearly 50,000 sq ft of office space in Mumbai's Bandra-Kurla Complex (BKC).

The landlord is Goisu Realty Private Limited, the Indian real estate arm of Japan's Sumitomo Realty and Development Co. Ltd. The space was leased for five years at a total rent of Rs 189 crore, according to property registration data accessed by Propstack.

Lease Details

The fresh lease covers 49,820 sq ft on a higher floor of Sumitomo C65, a commercial tower in BKC.

The agreement is dated October 6, 2026. It has a five-year tenure. The rent is Rs 694 per sq ft per month. This translates to a starting rent of about Rs 3.46 crore a month.

• Annual rent before escalation: about Rs 41.5 crore
• Rent escalation: 15 percent every three years
• Security deposit: Rs 35.115 crore
• Rent-free period: nine months, with rent starting in June 2027

At the stated monthly rent, the annual rental outgo would be approximately Rs 41.5 crore before escalation.

The agreement provides for a 15 percent rent increase every three years. The lease includes a nine-month rent-free period, so rent payments are scheduled to begin in June 2027. The security deposit is Rs 35.115 crore.

An email query was sent to SMBC and Goisu Realty Private Limited. The original report said it would be updated if a response is received.

Also Read: Sattva Eyes Data Centres, Expands Mumbai Redevelopment Pipeline

Japanese Group's Mumbai Expansion

Goisu Realty is a group company of Japan's Sumitomo Realty and Development. It develops commercial office space in Mumbai.

The Sumitomo C65 project in BKC is part of the group's expansion in India. It follows a long-term model of office development, leasing, and management.

In 2025, US-based financial services major JP Morgan Private Limited pre-leased 1.16 lakh sq ft in a tower being developed by Goisu Realty in BKC.

The monthly rent is Rs 6.91 crore, according to documents accessed by Propstack.

Also Read: SCLR-BKC Extension Nears Completion After Nine Years

BKC: India's Costliest Commercial District

BKC is widely known as India's costliest commercial district. It mixes government offices, global corporations, and luxury hotels in one business hub.

BKC is home to several government offices. These include MMRDA, the GST department, the Reserve Bank of India, the Income Tax Department, and the Family Court.

The US consulate is also there, near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are located in BKC.

Prominent companies with offices in BKC include Jio, Apple, Netflix, Google, Facebook, Amazon, Tesla, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone.

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