NPCI Secures 1.15 Lakh Sq Ft Office Space in Mumbai's Goregaon for ₹25 Crore Annual Rent
Mumbai real estate update: NPCI has leased commercial space on the 27th and 28th floors of Oberoi Commerz III, constructed by Oberoi Realty in Goregaon, for an annual rent exceeding ₹25 crore.
NpciMumbai Real EstateGoregaonCommercial SpaceOberoi Commerz IiiReal Estate MumbaiJan 24, 2025
The organization has secured 1.15 lakh square feet of commercial space on the 27th and 28th floors of the Oberoi Commerz III building, located in the bustling suburb of Goregaon.
The annual rent for this prime location is over ₹25 crore, reflecting the high demand and value of commercial properties in the city.
NPCI, established in 2009, is a non-profit organization that manages and operates a variety of retail payment and settlement systems in India.
It is owned by major banks and financial institutions, and its primary role is to promote the adoption of electronic payment systems and improve the efficiency of the payments ecosystem in the country.
The organization plays a crucial role in the financial infrastructure of India, managing systems such as UPI (Unified Payments Interface), IMPS (Immediate Payment Service), and RuPay, among others.
The decision to lease space in Oberoi Commerz III is part of NPCI's strategic expansion plans to accommodate its growing workforce and enhance operational efficiency.
Goregaon, known for its well-developed infrastructure and connectivity, is a preferred location for many corporate entities.
The building, developed by Oberoi Realty, is a state-of-the-art commercial complex that offers modern amenities and a business-friendly environment.
The lease agreement, which is expected to span several years, underscores the confidence of NPCI in the Mumbai real estate market.
The high annual rent of ₹25 crore is a testament to the premium nature of the property and the strong demand for Grade A office spaces in Mumbai.
This move is likely to boost the local economy and attract other corporations to the area, further solidifying Goregaon's position as a key business hub.
Oberoi Commerz III, a 30-story building, is part of the Oberoi Commercial Park, which is a prominent commercial development in Mumbai.
It offers world-class office facilities, including advanced security systems, high-speed internet, and efficient power backup, making it an ideal choice for companies looking to establish a robust operational base in the city.
The building is also strategically located near major transportation hubs, providing convenient access to the rest of Mumbai.
NPCI's expansion plans are in line with its mission to drive innovation and digital transformation in the payments sector.
The new office space will serve as a hub for the organization's growing team of experts and will support its efforts to develop and implement cutting-edge payment solutions.
The move is expected to enhance NPCI's operational capabilities and contribute to the overall growth of the financial services industry in India.
In conclusion, NPCI's strategic move to lease 1.15 lakh square feet of office space in Oberoi Commerz III in Goregaon, at an annual rent of over ₹25 crore, highlights the organization's commitment to growth and innovation.
It also reflects the strong demand for high-quality commercial properties in Mumbai, particularly in areas with well-developed infrastructure and connectivity.
Frequently Asked Questions
What is NPCI?
NPCI (National Payments Corporation of India) is a non-profit organization established in 2009 to manage and operate retail payment and settlement systems in India. It is owned by major banks and financial institutions and plays a crucial role in promoting electronic payment systems and improving the payments ecosystem in the country.
Where is the new NPCI office located?
The new NPCI office is located in the Oberoi Commerz III building, on the 27th and 28th floors, in Goregaon, Mumbai.
What is the annual rent for the new NPCI office space?
The annual rent for the new NPCI office space in Oberoi Commerz III is over ₹25 crore.
Why did NPCI choose Goregaon for its new office?
NPCI chose Goregaon for its new office due to the area's well-developed infrastructure, connectivity, and its status as a preferred location for many corporate entities. The high demand for Grade A office spaces in Mumbai also played a role in this decision.
What are the key features of the Oberoi Commerz III building?
The Oberoi Commerz III building is a 30-story commercial complex that offers world-class office facilities, including advanced security systems, high-speed internet, and efficient power backup. It is strategically located near major transportation hubs, providing convenient access to the rest of Mumbai.
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