Cushman & Wakefield’s latest report “Navi Mumbai – The Next Growth Corridor” highlights how infrastructure development, cost advantages, and access to talent are shaping Navi Mumbai into an upcoming office destination within the Mumbai Metropolitan Region (MMR).
According to the report, Navi Mumbai currently offers 23.8 million sq. ft. of Grade A office stock, representing about 20% of MMR’s total 120 million sq ft supply, with an occupancy rate of 87%. A further 4 million sq. ft. of new supply is expected by FY2028, signaling sustained developer interest supported by robust occupier demand amid constrained availability.
The report also includes findings from a survey of over 30 Global Capability Centers (GCCs), which identified the top three factors influencing location strategy as talent availability (91%), cost-effective Grade A space (77%), and infrastructure (73%). Navi Mumbai’s fundamentals align with these priorities, offering occupiers a cost-efficient alternative within MMR.
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 rentals of INR 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 Navi Mumbai International Airport is expected to become operational by Q4 CY 2025, with an initial capacity of 20 million passengers annually and scalable up to 90 million. Once operational, it will position Navi Mumbai as a central node in the MMR. Other infrastructure 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.
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.
Gautam Saraf, Executive Managing Director, Mumbai & New Business commented, “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.”
