Navi Mumbai: A Rising Star in the Mumbai Metropolitan Region's Office Market
Navi Mumbai has emerged as a major office hub with 23.8 million sq ft of Grade A office space, contributing 20% to MMR's total commercial supply. A Cushman & Wakefield report highlights the city's growth, driven by cost advantages, talent availability, and infrastructure upgrades.
Navi MumbaiOffice SpaceReal EstateMmrCushman WakefieldReal Estate NewsAug 28, 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 Grade A office stock in Navi Mumbai?
Navi Mumbai currently has 23.8 million sq ft of Grade A office stock.
What percentage of MMR's total commercial supply does Navi Mumbai contribute?
Navi Mumbai contributes about 20% to MMR's total commercial supply of 120 million sq ft.
What are the main factors driving Navi Mumbai's growth as an office hub?
The main factors driving Navi Mumbai's growth include cost advantages, talent availability, and infrastructure upgrades.
How much new office space is expected by FY2028 in Navi Mumbai?
An additional 4 million sq ft of new office space is expected by FY2028 in Navi Mumbai.
What is the average quoted rent for office space in Navi Mumbai?
The average quoted rent for office space in Navi Mumbai is ₹70 per sq. ft. per month, which is about 57% lower than prime MMR sub-markets.
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