Major global companies are making significant moves and Navi Mumbai is rapidly becoming a top choice for office space leasing and investment.
Navi Mumbai is quickly solidifying its position as a key commercial and IT hub, attracting high-value investment from both national and international companies. In a recent notable transaction sees Morningstar, a global American financial services giant, leasing 300,000 sq ft of office space in Vishwaroop IT Park, Vashi.
This long-term, 10-year lease is valued at Rs 38 crore annually, with a 5% annual escalation, totaling approximately Rs 450 crore over the lease period. This deal highlights Navi Mumbai’s growing appeal as a business destination, thanks to its superior infrastructure and connectivity to Mumbai.
The area, along with other parts of the Mumbai Metropolitan Region (MMR) such as Shilphata Region, is increasingly favored for leasing, with Vashi, Turbhe and aligned regions like Juinagar and Nerul emerging as a key commercial center.
In addition, Amazon India recently invested Rs 450 crore to acquire a 38.18-acre site in Lodha Palava Industrial and Logistic Park for a hyper-scale data center, further cementing the region's potential.
Vishwaroop IT Park, developed by The Wadhwa Group, already hosts leading IT companies such as ICICI Lombard, Nomura, and Alight Solutions. This makes Navi Mumbai a key choice for businesses seeking high-quality office spaces in close proximity to Mumbai’s commercial hub.
With such significant investments, Navi Mumbai is positioned to be a key player in the commercial real estate sector, presenting a lucrative opportunity, fueled by its strategic location, growing demand for office space and continuous infrastructure developments in an emerging market.
This location is further expected to gain a significant growth, benefiting from its close proximity to the Navi Mumbai International Airport (NMIA), the establishment of a new city under the Navi Mumbai Airport Influence Notified Areas (NAINA), Kharghar Corporate Park and the proposed World Trade Centre near Juinagar. (Refer to Figure 1.1)
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The information provided above is accurate to the best of our knowledge. However, we do not guarantee the accuracy of the information presented in this article. Readers are advised to verify the details independently.
Article source: Times News Network
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