Panchshil Realty has purchased Capgemini’s Thane Knowledge Park for Rs 550 crore, marking a significant expansion of its office space portfolio amid shifts in Mumbai’s commercial real estate market.
The Pune-based developer acquired five buildings located on land parcels from Capgemini Technology Services India, the Indian branch of the French IT firm Capgemini. The property has been assigned to Prime Lohegaon Infraspaces LLP, a subsidiary of Panchshil Realty, according to real estate analytics firm CRE Matrix. The transaction included a stamp duty payment of Rs 27.5 crore and a registration fee of Rs 30,000.
Spanning 15.38 acres, the property is situated in the Thane Creek Industrial Area in Dighe. Efforts to get comments from Panchshil Realty and Capgemini have not yet received a response.
This acquisition adds to Panchshil’s existing portfolio of 22.77 million square feet of developed office space. The company also has 32.1 million square feet under development, including eight tech parks, five mixed-use developments, and two special economic zone properties. In addition to office spaces, Panchshil’s portfolio includes data centres, residential projects, and hospitality assets.
The Mumbai Metropolitan Region (MMR) remains a key player in India’s office market. According to Knight Frank India, as of the first half of 2025, MMR holds a total office stock of 169 million square feet, making it the third-largest office market in the country and accounting for 17 per cent of India’s total office space.
Mumbai’s commercial real estate landscape is undergoing a major shift. Secondary Business Districts like Bandra-Kurla Complex, Andheri, Goregaon, and Powai now hold 58 per cent of the city’s office stock. Traditional Central Business Districts, including Nariman Point and Fort, which once dominated corporate India, now represent only 15 per cent. Peripheral Business Districts such as Thane, Navi Mumbai, Airoli, and Belapur account for 27 per cent, reflecting growing demand for affordable and well-connected locations.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
