Dow Chemicals Leases 1.79 Lakh Sq Ft at Mindspace Business Park in Navi Mumbai
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. The lease includes 225 vehicle parking spaces and a 10-year agreement.
Dow ChemicalsNavi MumbaiMindspace Business ParkReal EstateLeasingReal Estate MaharashtraAug 16, 2025
The US-headquartered chemical major has taken up five floors from the 2nd to the 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 in rentals over the term of the lease.
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.
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, as shown in the documents accessed through the Department of Registration and Stamps, Government of Maharashtra.
Mindspace Business Park is a prominent business hub in Navi Mumbai, offering state-of-the-art infrastructure and a strategic location. This lease by Dow Chemicals underscores the growing importance of Navi Mumbai as a key commercial and industrial center in the region.
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Frequently Asked Questions
What is the total area leased by Dow Chemicals at Mindspace Business Park?
Dow Chemicals has leased 1.79 lakh sq ft of office space at Mindspace Business Park in Airoli, Navi Mumbai.
How much is the monthly rental for the leased space?
The monthly rental for the leased space is Rs 1.64 crore.
What is the term of the lease agreement?
The lease agreement is for a term of 10 years.
How many parking spaces are included in the lease?
The lease includes 225 vehicle parking spaces.
What is the security deposit required for the lease?
The security deposit required for the lease is Rs 14.77 crore.
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