Navi Mumbai's Office Space Market: A Hub of Growth and Development
Navi Mumbai is rapidly emerging as a key office destination within the Mumbai Metropolitan Region (MMR), thanks to its high occupancy rates, cost advantages, and robust infrastructure. The region is expected to add 4 million square feet of office space by FY28.
Navi MumbaiOffice SpaceReal EstateMmrInfrastructureReal Estate MumbaiAug 28, 2025
The occupancy level in Navi Mumbai is currently at 87 per cent, making it a highly attractive location for businesses. The report notes that Navi Mumbai is emerging as a significant office destination in the MMR due to its 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 findings from a survey of over 30 Global Capability Centers (GCCs) suggest that talent availability, cost-effective Grade A space, and infrastructure are the three most important factors when choosing a location for establishing GCCs. Navi Mumbai aligns well with these priorities, making it an attractive choice for businesses.
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 is a significant factor driving the demand for office space in Navi Mumbai.
On the infrastructure front, the Navi Mumbai International Airport is expected to become operational by the end of this year. Other key 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 expected to further boost the growth of Navi Mumbai as a key office destination, making it an attractive option for businesses looking to expand in the Mumbai Metropolitan Region.
Frequently Asked Questions
What percentage of MMR's total office supply 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 in Navi Mumbai's office spaces?
The current occupancy level in Navi Mumbai's office spaces is 87 per cent.
How much new office supply is expected 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 key factors driving the demand for office space in Navi Mumbai?
The key factors driving the demand for office space 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 foot per month.
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