Navi Mumbai is rapidly emerging as a key office hub within the Mumbai Metropolitan Region (MMR), driven by cost advantages, abundant talent, and robust infrastructure upgrades. Once viewed primarily as a residential and industrial hub, the city is now transforming into a preferred choice for corporates and Global Capability Centers (GCCs), offering both scale and quality in office spaces.

A new report by Cushman & Wakefield highlights that Navi Mumbai already houses nearly one-fifth of MMR’s total Grade A office stock with robust occupancy, reflecting sustained demand from occupiers seeking cost-effective yet high-quality workspaces. With the upcoming Navi Mumbai International Airport, enhanced connectivity projects, and a steady pipeline of new supply, the region is poised to play a pivotal role in shaping the next wave of commercial real estate growth across MMR.

Navi Mumbai has 23.8 million sq ft of Grade A office stock, accounting for about 20% of MMR’s total supply of 120 million sq ft. The report notes that the region 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,” the report said.

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,” it 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,” said Gautam Saraf, Executive Managing Director, Mumbai and New Business at Cushman & Wakefield.