Navi Mumbai: A Rising Star in the MMR Office Market
Navi Mumbai is set to add 4 million square feet of prime office space by 2028, accounting for 20% of the total office supply in the Mumbai Metropolitan Region (MMR). With high occupancy rates and significant infrastructure developments, the city is becoming a major hub for global capability centers.
Navi MumbaiReal EstateOffice SpaceMmrInfrastructureReal Estate MumbaiAug 28, 2025
The consultant noted that Navi Mumbai is emerging as an important office destination in the MMR on the back of infrastructure development, cost advantages, and access to talent. Gautam Saraf, Executive Managing Director - Mumbai and New Business at Cushman & Wakefield, said, 'With Mumbai's infrastructure push unlocking new corridors, Navi Mumbai's integrated and scalable urban framework is perfectly positioned to absorb the next wave of real estate growth.'
As per the report, Navi Mumbai currently offers 23.8 million square feet of Grade A office stock, representing about 20 per cent of MMR's total 120 million sq ft supply. The consultant projected that 4 million square feet of new office supply is expected by 2027-28 in Navi Mumbai.
The report included findings from a survey of over 30 Global Capability Centers (GCCs), which suggested that talent availability, cost-effective Grade A space, and infrastructure are three important factors to choose any location for establishing GCCs. The consultant noted that Navi Mumbai aligns with these priorities. GCCs are a major driver of office space demand across seven major cities in India.
The average quoted rentals in Navi Mumbai are Rs 70 per square feet per month - about 57 per cent lower than prime MMR sub-markets. On the infrastructure front, the Navi Mumbai International Airport is expected to become operational by the end of this year. Other projects, such as the Airoli Katai Naka Road, Kharghar Turbhe Tunnel Link Road, and Palm Beach Road extension, are also expected to enhance accessibility within Navi Mumbai in the coming years.
Navi Mumbai's strategic location, combined with its cost-effective office spaces and robust infrastructure, makes it an attractive destination for businesses looking to expand in the MMR. The city's high occupancy rate and the influx of new office supply are expected to further solidify its position as a key player in the region's real estate market.
Frequently Asked Questions
What percentage of the total office supply in the MMR does Navi Mumbai account for?
Navi Mumbai accounts for 20 per cent of the total office supply in the Mumbai Metropolitan Region (MMR).
What is the current occupancy level of office spaces in Navi Mumbai?
The occupancy level of office spaces in Navi Mumbai is 87 per cent.
How much new office supply is expected to be added in Navi Mumbai by 2027-28?
Navi Mumbai is expected to add 4 million square feet of new office supply by 2027-28.
What are the main factors driving the demand for office spaces in Navi Mumbai?
The main factors driving the demand for office spaces in Navi Mumbai are talent availability, cost-effective Grade A space, and infrastructure development.
What is the average quoted rental rate in Navi Mumbai's office spaces?
The average quoted rental rate in Navi Mumbai's office spaces is Rs 70 per square feet per month, which is about 57 per cent lower than prime MMR sub-markets.
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