HERE Solutions Leases Over 2 Lakh Sq Ft Office Space in Navi Mumbai’s Mindspace Business Park

HERE Solutions India Private Limited, a prominent IT firm, has signed a long-term lease for commercial office space spanning 2.08 lakh sq ft in Mindspace Business Park, Airoli, Navi Mumbai, near Mumbai. The lease is set for a 10-year period, with a total rent of ₹147 crore, according to property registration documents accessed by Propstack.

The commercial office space is spread across four units on the fourth, eighth, and ninth floors. These units measure a total of 1.45 lakh sq ft (carpet area) and have a chargeable area of 2.08 lakh sq ft, as per the documents.

According to the documents, the India arm of global tech firm HERE Technologies has leased the office space at a starting monthly rent of ₹1.48 crore, or ₹71 per sq ft, with an annual rent escalation of 4.5%. The security deposit for the transaction stands at ₹13.32 crore.

The transaction was registered on December 20, 2025, for which a stamp duty of over ₹2.84 crore and a registration fee of ₹1.20 lakh were paid, the documents show. The commercial office units were leased along with a total of 194 car parking spaces.

Mindspace Business Parks in Airoli, Navi Mumbai, is a sought-after location for several prominent domestic and international companies across sectors such as IT, consulting, healthcare tech, and financial services. The area has seen significant activity in recent commercial lease deals.

Earlier, IT major Wipro Limited expanded its presence in December 2025 by leasing 1.45 lakh sq ft of commercial space in Mindspace Business Parks, Airoli, near Mumbai, for a period of five years at a total rent of over ₹61 crore, according to property registration documents accessed by CRE Matrix.

In the same month, IT services major Cognizant Technology Solutions India Pvt. Ltd. renewed a lease for over 92,000 sq ft of commercial office space in Mindspace Business Parks in Navi Mumbai, near Mumbai, for a total of over ₹39.66 crore, according to property registration documents accessed by CRE Matrix.

Some of the key occupiers in the Mindspace Business Parks REIT include L&T Infotech (LTI), LTI–Mindtree, Accenture, Cognizant, IBM India, CRISIL (a subsidiary of S&P Global), Axis Bank, Capgemini India, among several others.

Mindspace Business Parks REIT, sponsored by K Raheja Corp, announced in November 2025 that it had acquired three commercial assets in Mumbai and Pune for ₹2,916 crore to expand its REIT portfolio. Mindspace REIT, which had a commercial portfolio of 38.2 million sq ft as of September 30, will see its portfolio rise to 39 million sq ft after this acquisition.

The three commercial assets are located in Mumbai’s business districts of Worli and Bandra-Kurla Complex, and in Pune’s Kalyani Nagar, for a total of ₹2,916 crore, the company had said in a regulatory filing.