Navi Mumbai Drives 20% of Prime Office Space in MMR, Set to Add 4 Million Sq ft by FY28
Navi Mumbai, with its robust infrastructure and cost-effective Grade A office spaces, is poised to become a significant commercial hub. According to Cushman & Wakefield, the city currently houses 24 million square feet of prime office space, accounting for 20% of the total supply in the Mumbai Metropolitan Region (MMR).
Navi MumbaiReal EstateOffice SpaceMmrInfrastructureReal Estate MumbaiAug 28, 2025
Real estate consultant Cushman & Wakefield (C&W) on Thursday released a report, 'Navi Mumbai – The Next Growth Corridor', which underscores the city's emergence as a key office market in the MMR. This growth is driven by infrastructure development, cost advantages, and access to talent.
Gautam Saraf, Executive Managing Director - Mumbai and New Business at C&W, 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. This expansion is expected to further solidify Navi Mumbai's position as a key commercial hub in the region.
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. Navi Mumbai aligns with these priorities, making it an attractive location for GCCs, which 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 foot per month, which is about 57 per cent lower than prime MMR sub-markets. This cost advantage, combined with the city's growing infrastructure, makes it a compelling choice for businesses looking to expand their operations.
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. These developments are set to further boost the city's appeal as a prime location for business and investment.
Cushman & Wakefield's report provides valuable insights into the real estate market in Navi Mumbai and highlights the city's potential for sustained growth and development. As infrastructure projects come to fruition and more businesses recognize the benefits of operating in Navi Mumbai, the city is well-positioned to become a leading commercial center in the MMR.
Frequently Asked Questions
What is the current office space supply in Navi Mumbai?
Navi Mumbai currently has nearly 24 million square feet of prime office spaces, accounting for 20 per cent of the total supply in the Mumbai Metropolitan Region (MMR).
What is the occupancy rate in Navi Mumbai's office spaces?
The occupancy rate in Navi Mumbai's office spaces is high at 87 per cent.
What factors make Navi Mumbai an attractive location for Global Capability Centers (GCCs)?
Navi Mumbai is attractive for GCCs due to its talent availability, cost-effective Grade A office spaces, and robust infrastructure.
What is the average rental cost for office spaces in Navi Mumbai?
The average quoted rentals in Navi Mumbai are Rs 70 per square foot per month, which is about 57 per cent lower than prime MMR sub-markets.
What major infrastructure projects are underway in Navi Mumbai?
Key infrastructure projects in Navi Mumbai include the Navi Mumbai International Airport, Airoli Katai Naka Road, Kharghar Turbhe Tunnel Link Road, and Palm Beach Road extension, all of which are expected to enhance accessibility and connectivity within the city.
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