Mumbai, June 25, 2025 — In one of India’s largest commercial real estate transactions, global financial giant JP Morgan has leased over 116,210 sq ft of prime office space in Sumitomo Realty’s commercial tower at Mumbai’s prestigious Bandra-Kurla Complex (BKC). The deal marks a strategic commitment by the bank to expand its operations in India, with the new facility set to serve as JP Morgan’s India headquarters.
The 10-year lease includes an option to renew for three additional 5-year terms, potentially extending the tenure to 25 years. The total rental outflow is estimated at ₹1,000 crore for the initial 10 years and is projected to exceed ₹2,500 crore over the full 25-year term, making it one of the most significant long-term commercial commitments in India’s premium office market.
Inside the Landmark Deal
The office spans the 11th and 12th floors of the upcoming commercial tower located in BKC’s G Block. The project is being developed by Goisu Realty, the Indian arm of Japanese conglomerate Sumitomo Realty & Development, which acquired the 3-acre land parcel from MMRDA for ₹2,067 crore. The land was secured through an 80-year lease agreement, with Goisu emerging as the top bidder back in 2019.
As per the lease agreement, JP Morgan India will pay a monthly rent of ₹6.91 crore, calculated at ₹595 per sq ft of carpet area, with a 15% escalation every three years. A security deposit of ₹62.23 crore was paid, and the transaction was registered on June 12, 2025.
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JP Morgan’s Growing India Presence
JP Morgan Chase & Co., one of the world’s largest and most influential financial institutions, operates across over 100 countries with assets exceeding $3 trillion. In India, the firm has a significant footprint in Mumbai, Bengaluru, and Hyderabad, employing thousands in banking, technology, and operations.
This new BKC office is expected to become a central hub for JP Morgan’s client-facing operations in India. The firm had earlier leased over 1.16 million sq ft of office space at Nirlon Knowledge Park, Goregaon in 2022, signaling consistent expansion.
Boost for BKC’s Commercial Real Estate Market
BKC, Mumbai’s most prominent business district, continues to attract top global firms owing to its superior infrastructure, central location, and Grade-A office inventory. With recent large-scale transactions from Citigroup and now JP Morgan, the area cements its position as India’s most expensive and sought-after commercial zone.
Sumitomo’s tower, still under construction, includes 6 basements, a ground floor, and 12 upper floors, and is part of a broader strategy by Japanese developers to invest in India’s rapidly growing urban centers.
Key Deal Highlights
| Details | Specifications |
|---|---|
| Tenant | JP Morgan India |
| Developer | Sumitomo Realty (Goisu Realty India) |
| Location | BKC G Block, Mumbai |
| Office Area | 116,210 sq ft |
| Lease Term | 10 years (extendable to 25 years) |
| Monthly Rent | ₹6.91 crore |
| Security Deposit | ₹62.23 crore |
| Total Value | ₹1,000 crore (10 years), ₹2,500 crore (25 years est.) |
India’s Emergence as a Strategic Global Hub
This deal is one of the largest commercial real estate leases by any multinational company in India and signifies growing confidence among American corporates in the Indian market. From Mumbai to Bengaluru, US-based firms are driving large-scale office expansion, reinforcing India’s role as a global back-office and innovation hub.
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