Navi Mumbai: A Rising Star in the MMR Office Space Market
Navi Mumbai is rapidly emerging as a major office hub within the Mumbai Metropolitan Region (MMR), boasting 23.8 million sq ft of Grade A office space and contributing 20% to the region's commercial supply. A Cushman & Wakefield report highlights its growth potential and cost advantages.
Navi MumbaiOffice SpaceMmrGrade ACushman WakefieldReal EstateAug 29, 2025
The report notes that Navi Mumbai has an occupancy rate of 87%, supported by cost advantages, talent availability, and infrastructure upgrades. An additional 4 million sq ft of new office space is projected by FY2028, underscoring steady developer interest and strong demand from occupiers.
The region benefits from proximity to educational institutions, providing access to a talent pool of nearly 150,000 graduates annually. The presence of modern infrastructure and a variety of residential options, from budget to premium, adds to its attractiveness for enterprises considering new office locations. At an average quoted rent of ₹70 per sq ft per month, about 57% lower than prime MMR sub-markets, it provides companies with a compelling cost advantage without compromising on quality.
Survey findings of over 30 Global Capability Centers (GCCs) highlighted talent availability (91%), cost-effective Grade A space (77%), and infrastructure (73%) as the top factors influencing location strategy. Navi Mumbai aligns closely with these, offering access to nearly 150,000 graduates annually, modern infrastructure, and diverse housing options.
At average rentals of ₹70 per sq ft per month, roughly 57% lower than prime MMR markets, Navi Mumbai provides companies with a cost-efficient alternative. The upcoming Navi Mumbai International Airport, expected to be operational by late 2025 with an initial 20 million passenger capacity, along with projects like the Kharghar Turbhe Tunnel and Palm Beach Road extension, are expected to further strengthen its connectivity, Cushman & Wakefield said.
India’s GCC sector is expanding rapidly, with its share of leasing projected to rise from 23% in 2023 to 29% by 2025, underscoring the demand for high-quality office space across both established and emerging corridors. Within MMR, Navi Mumbai is gaining traction supported by infrastructure upgrades, cost-effective supply, and a growing talent base, reinforcing its role as part of the region’s evolving office ecosystem.
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, said Gautam Saraf, Executive Managing Director, Mumbai and New Business at Cushman & Wakefield.
Frequently Asked Questions
What is the current office stock in Navi Mumbai?
Navi Mumbai currently has 23.8 million sq ft of Grade A office stock, contributing about 20% of MMR’s total supply of 120 million sq ft.
What is the occupancy rate in Navi Mumbai's office market?
The occupancy rate in Navi Mumbai's office market is 87%, supported by cost advantages, talent availability, and infrastructure upgrades.
What are the key factors driving the growth of Navi Mumbai as an office hub?
The key factors driving the growth of Navi Mumbai as an office hub include access to a large talent pool, cost-effective Grade A space, and modern infrastructure.
What is the average quoted rent in Navi Mumbai's office market?
The average quoted rent in Navi Mumbai's office market is ₹70 per sq ft per month, which is about 57% lower than prime MMR sub-markets.
What are some upcoming infrastructure projects in Navi Mumbai?
Some upcoming infrastructure projects in Navi Mumbai include the Navi Mumbai International Airport, expected to be operational by late 2025, and projects like the Kharghar Turbhe Tunnel and Palm Beach Road extension.
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