Dow Chemicals Secures 1.79 Lakh Sq Ft Office Space in Mindspace Business Park, 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 ₹1.64 crore per month under a 10-year agreement.
Dow ChemicalsNavi MumbaiMindspace Business ParkOffice LeasingReal EstateReal Estate MumbaiAug 16, 2025
The deal is based on a chargeable area of around 2.56 lakh sq ft, translating to ₹64 per sq ft per month. The company has paid a ₹14.77 crore security deposit, with a 5% annual rent escalation clause.
In addition, Dow Chemicals has paid a fit-out security deposit of ₹82.09 crore, 10% of which will be refunded each year, along with a fit-out rent of ₹29.45 per sq ft per month.
Mindspace SEZ is constructed on a leasehold land measuring 1.98 lakh sq m and is located in Kalwa Industrial area of Trans Thane Creek Industrial area. It is notified as an IT/ITes sector special economic zone. The building in which the five floors have been leased is earmarked as a non-processing area of the SEZ, the document showed.
The office spaces come with 225 car parkings, the documents showed. Mindspace Business Parks in Airoli, Navi Mumbai, is home to several prominent domestic and international companies in sectors like IT, consulting, healthcare tech, and financial services.
Dow Chemicals' decision to lease this extensive space underscores the growing importance of Navi Mumbai as a hub for corporate expansion and operations. The strategic location of Mindspace Business Park, combined with its world-class infrastructure, makes it an attractive choice for leading firms looking to establish a strong presence in the region.
Frequently Asked Questions
How much office space has Dow Chemicals leased in Navi Mumbai?
Dow Chemicals has leased 1.79 lakh sq ft of office space at Mindspace Business Park in Airoli, Navi Mumbai.
What is the monthly rent for the leased space?
The monthly rent for the leased space is ₹1.64 crore.
How long is the lease agreement?
The lease agreement is for 10 years.
What is the security deposit paid by Dow Chemicals?
Dow Chemicals has paid a security deposit of ₹14.77 crore.
What additional deposits has Dow Chemicals paid?
Dow Chemicals has also paid a fit-out security deposit of ₹82.09 crore, 10% of which will be refunded each year, along with a fit-out rent of ₹29.45 per sq ft per month.
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