Dow Chemicals Leases 1.79 Lakh Sq Ft at Mindspace Airoli for ₹1.64 Crore Monthly Rent
Dow Chemicals International Pvt Ltd has leased 1.79 lakh sq ft of office space at Mindspace Business Park in Airoli, Navi Mumbai, for Rs 1.64 crore per month under a 10-year agreement.
Dow ChemicalsNavi MumbaiMindspace Business ParkReal EstateLeasingReal EstateAug 16, 2025
Five Floors Taken At SEZ Tower
The US-headquartered chemical major has taken up five floors from 2nd to 6th in one of the towers of Mindspace Special Economic Zone, owned by Mindspace Business Parks. The company is estimated to pay around Rs 250 crore rentals.
Agreement Terms And Rental Structure
The lease, starting September 15, will see Dow Chemical paying a monthly rental of Rs 1.64 crore, translating into Rs 64 per sq ft on the chargeable area. The agreement includes a clause to escalate rentals by 5% every year. The transaction also involves a security deposit of Rs 14.77 crore.
Security Deposits And Fit-Out Costs
The deal includes a fit-out security deposit of Rs 82.09 crore, which will be refunded in tranches of 10% each year, and a fit-out rent of Rs 29.45 per sq ft per month, with no escalation through the term, showed the documents accessed through the department of registration and stamps Government of Maharashtra.
Dow Chemicals, a leading chemical company, has made a significant investment in Navi Mumbai's real estate market. This move underscores the growing importance of the region as a hub for international businesses. Airoli, a part of Navi Mumbai, is rapidly developing into a commercial and residential area, attracting major corporates and investors. The Mindspace Business Park, known for its state-of-the-art infrastructure and amenities, is a popular choice for companies looking to expand their operations in the region.
The leasing agreement not only benefits Dow Chemicals by providing a prime location for their operations but also boosts the local economy by creating job opportunities and driving further development in the area. The terms of the lease, including the rental escalation clause and the fit-out security deposit, are designed to ensure a stable and mutually beneficial arrangement for both the tenant and the landlord.
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Frequently Asked Questions
What is the total area leased by Dow Chemicals in Airoli?
Dow Chemicals has leased 1.79 lakh sq ft of office space at Mindspace Business Park in Airoli, Navi Mumbai.
What is the monthly rental cost for the leased space?
The monthly rental cost for the leased space is Rs 1.64 crore.
How long is the lease agreement?
The lease agreement is for a period of 10 years.
What is the security deposit for the lease?
The security deposit for the lease is Rs 14.77 crore.
What is the fit-out security deposit and how is it refunded?
The fit-out security deposit is Rs 82.09 crore and will be refunded in tranches of 10% each year.
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