A recent report titled “Navi Mumbai – The Next Growth Corridor” highlights Navi Mumbai’s rise as a major office destination in the Mumbai Metropolitan Region (MMR), supported by strong infrastructure, competitive rentals, and a growing talent base.
According to the report, Navi Mumbai currently offers 23.8 million square feet of Grade A office stock, making up around 20 percent of MMR’s total supply of 120 million square feet, with an impressive occupancy rate of 87 percent. Developers are expected to add another 4 million square feet of supply by FY2028, reflecting continued demand from occupiers and limited availability in other parts of the region.
A survey of more than 30 Global Capability Centres revealed that the top factors influencing location strategy are talent availability (91 percent), cost-effective Grade A office space (77 percent), and infrastructure (73 percent). Navi Mumbai aligns strongly with these needs, offering a cost-efficient yet high-quality option within MMR.
The city benefits from proximity to educational institutions that generate nearly 150,000 graduates every year, ensuring access to a steady pool of talent. A mix of residential options, ranging from affordable to premium housing, further enhances its appeal for enterprises looking to set up operations. Average rentals of INR 70 per square foot per month are about 57 percent lower than those in prime sub-markets of MMR, offering significant cost advantages.
The upcoming Navi Mumbai International Airport, expected to be operational by Q4 CY 2025 with an initial capacity of 20 million passengers annually, will further strengthen the city’s position as a key business hub. Additional projects such as the Airoli Katai Naka Road, Kharghar Turbhe Tunnel Link Road, and Palm Beach Road extension will further improve connectivity.
India’s GCC sector is projected to increase its share of office leasing from 23 percent in 2023 to 29 percent by 2025, driving demand for high-quality office spaces across established and emerging markets. Within MMR, Navi Mumbai is gaining momentum as an office corridor due to its infrastructure upgrades, affordable supply, and skilled workforce.
An industry leader commented, “With Mumbai’s infrastructure push unlocking new corridors, Navi Mumbai’s integrated and scalable urban framework is perfectly positioned to absorb the next wave of real estate growth.”
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