Sumitomo Mitsui Banking Corporation (SMBC) has leased nearly 50,000 sq ft of premium office space in Mumbai's Bandra-Kurla Complex (BKC) from Goisu Realty Private Limited, the Indian real estate arm of Japan's Sumitomo Realty and Development Co. Ltd., according to property registration documents accessed by Propstack. The five-year lease agreement was signed on October 6, 2026, covering 49,820 sq ft on a higher floor of Sumitomo C65, a commercial tower in BKC. The rental agreement is priced at ₹694 per sq ft per month, translating to a starting monthly rent of approximately ₹3.46 crore.
At the current rate, the annual rental outgo will stand at about ₹41.5 crore before any escalation, as reported by Propstack. The contract includes a 15 per cent rent increase every three years and requires a security deposit of ₹35.115 crore. Additionally, the agreement includes a nine-month rent-free period, with rent payments scheduled to commence in June 2027. This represents a significant investment by SMBC in India's commercial real estate market, demonstrating the bank's commitment to expanding its operations in the country.
This transaction aligns with Goisu Realty's broader expansion strategy in India, as part of Sumitomo Realty and Development's long-term model of office development, leasing, and management. According to Propstack documents, this is not the developer's first major transaction in the district. In 2025, US-based financial services giant JP Morgan Private Limited pre-leased 1.16 lakh sq ft in another commercial tower developed by Goisu Realty in BKC, which commanded a monthly rent of ₹6.91 crore.
BKC remains India's most expensive and sought-after commercial district, housing several key government and regulatory offices including the Reserve Bank of India (RBI), the Income Tax Department, the Goods and Services Tax (GST) office, the MMRDA, and the Family Court. The district is also home to the US consulate, the Jio Convention Centre, and luxury hospitality chains such as Sofitel and Trident. Prominent multinational corporations operating out of BKC include Apple, Google, Amazon, Netflix, Meta (Facebook), Tesla, Jio, the National Stock Exchange, Standard Chartered Bank, Pfizer, Blackstone, CISCO, and Spotify.
