NPCI Acquires 1.15 Lakh Sq Ft Office Space in Mumbai's Oberoi Commerz III
Mumbai real estate update: NPCI has leased commercial space on the 27th and 28th floors of Oberoi Commerz III, a prominent building constructed by Oberoi Realty, for an annual rent of over ₹25 crore.
Mumbai Real EstateNpciOberoi Commerz IiiOffice Space LeaseDigital PaymentsReal EstateJan 24, 2025
National Payments Corporation of India (NPCI) has recently made headlines by leasing a significant amount of office space in one of Mumbai's most prestigious commercial buildings, Oberoi Commerz III, located in Goregaon.
The leasing deal, which covers 1.15 lakh square feet of space, is set to cost NPCI an annual rent exceeding ₹25 crore.
This move underscores NPCI's commitment to expanding its operations and maintaining a strong presence in one of India's most dynamic cities.
NPCI, a non-profit organization founded in 2009, plays a crucial role in the Indian financial ecosystem.
It operates and manages a variety of retail payment and settlement systems, including the Unified Payments Interface (UPI), RuPay, and the Immediate Payment Service (IMPS).
These systems facilitate seamless and secure financial transactions across the country, contributing significantly to India's digital economy.
The decision to lease space in Oberoi Commerz III is strategic on multiple levels.
The building, developed by Oberoi Realty, is a state-of-the-art commercial complex that offers modern amenities and a prime location in Goregaon, a rapidly growing suburb of Mumbai.
The area is well-connected to major business hubs, making it an ideal choice for companies looking to expand their footprint in the city.
By choosing this location, NPCI is positioning itself to attract top talent and ensure efficient operations.
Oberoi Commerz III is known for its world-class infrastructure, which includes high-speed internet, advanced security systems, and eco-friendly features.
The building has been designed to meet the needs of modern businesses, offering a conducive environment for innovation and productivity.
The 27th and 28th floors, where NPCI will be located, are equipped with top-tier facilities, including conference rooms, breakout areas, and an array of collaborative spaces.
NPCI's expansion into this new space is expected to support its ongoing initiatives and future projects.
The organization has been at the forefront of driving digital payments in India, and this move will provide the necessary resources and facilities to continue its mission.
The new office will serve as a central hub for NPCI's growing team, enabling better coordination and collaboration among its various departments.
In recent years, Mumbai's commercial real estate market has seen a significant uptick in demand, driven by the city's economic growth and strategic location.
High-rent deals like NPCI's lease are indicative of the strong confidence businesses have in Mumbai's real estate sector.
Despite the challenges posed by the global economic landscape, the city remains a preferred destination for corporate expansions.
For NPCI, the new office space in Oberoi Commerz III represents a significant investment in its future.
The organization's commitment to providing robust payment solutions and fostering financial inclusion is likely to benefit from this strategic move.
As NPCI continues to grow and innovate, it is poised to play an even more critical role in India's financial landscape.
Frequently Asked Questions
What is NPCI?
NPCI, or National Payments Corporation of India, is a non-profit organization founded in 2009. It operates and manages various retail payment and settlement systems in India, including UPI, RuPay, and IMPS. These systems facilitate secure and seamless financial transactions across the country.
Why did NPCI lease space in Oberoi Commerz III?
NPCI leased space in Oberoi Commerz III to support its expanding operations and maintain a strong presence in Mumbai. The location offers modern amenities and a strategic position in a growing suburb, which is ideal for attracting top talent and ensuring efficient operations.
What are the key features of Oberoi Commerz III?
Oberoi Commerz III is a state-of-the-art commercial complex known for its high-speed internet, advanced security systems, and eco-friendly features. It is designed to meet the needs of modern businesses, with facilities like conference rooms, breakout areas, and collaborative spaces.
How much space did NPCI lease in Oberoi Commerz III?
NPCI leased 1.15 lakh square feet of office space on the 27th and 28th floors of Oberoi Commerz III.
What is the annual rent for the leased space?
The annual rent for the 1.15 lakh square feet of office space leased by NPCI in Oberoi Commerz III is over ₹25 crore.
Related News Articles
Current Gold Prices in Major Indian Cities: Latest Rates and Updates
Stay updated with the latest gold prices for 10 grams of 22-carat gold in major Indian cities across India.
Equinox India Developments Limited: The New Face of Indiabulls Real Estate
Listed real estate developer Indiabulls Real Estate Limited has undergone a transformation, changing its name to Equinox India Developments Limited with effect from June 20, 2024.
Real Estate Entrepreneur Kamlesh Kumar Jailed in Ranchi Amid Money Laundering Probe
The Enforcement Directorate (ED) has arrested Real Estate businessman Kamlesh Kumar in Ranchi under the Prevention of Money Laundering Act (PMLA).
Navneet Rana to Skip Maharashtra Assembly Polls, Eyes Rajya Sabha Seat
Navneet Rana, a prominent political figure in Maharashtra, has announced that he will not contest in the upcoming Maharashtra Assembly elections. Instead, he is setting his sights on a membership in the Rajya Sabha. This decision comes after a series of s
Micromitti to Launch SM-REITs: A New Era for Real Estate Investment in Central India
Micromitti, a leading PropTech firm in Central India, is set to introduce Real Estate Investment Trusts (REITs), AIF Category 2 Real Estate Funds, and Private Equity (PE) investments, providing high-return opportunities for individual investors.
Bhopal Sees Property Rates Soar by Up to 200% in 243 Locations
Property rates in Bhopal have increased by up to 200% in 243 locations, including prime areas like Arera Colony, 10 Number Market, and MP Nagar, sparking opposition from builders and developers.