Cognizant renews lease of over 92,000 sq ft in Navi Mumbai for nearly ₹40 crore
IT services major Cognizant Technology Solutions India Pvt. Ltd. has renewed a lease for over 92,000 sq ft of commercial office space in Mindspace Business Parks in Navi Mumbai, near Mumbai, for a total of over ₹39.66 crore, according to property registration documents accessed by CRE Matrix.
The commercial office spaces are located in Mindspace Business Park, a building in Airoli, on the second and sixth floors. The second floor comprises 45,000 sq ft, and the sixth floor exceeds 46,000 sq ft.
The starting monthly rent is ₹62.70 lakh, and the rent is expected to increase by 4.5% annually.
The commercial office space has been leased for a period of five years, with a three-year lock-in, as per the documents.
The transaction was registered on December 12, 2025, for which a stamp duty of over ₹42 lakh and a registration fees of ₹30,000 was paid.
The deal also includes a two-month rent-free period from May 5, 2030, to July 4, 2030, documents show.
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Additionally, the tenant will pay Common Area Maintenance (CAM) charges of ₹11 per sq ft per month.
The Mindspace Business Park in Airoli, Navi Mumbai, is home to several IT and technology firms.
An email query sent to Mindspace Business Parks REIT and Cognizant did not get any response. The story will be updated if a response is received.
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Wipro has leased 3.87 lakh sq ft in Mindspace Business Park for 10 years
Earlier, IT major Wipro Limited had expanded its presence by leasing 3.87 lakh sq ft of commercial space in Mindspace Business Parks, Airoli, near Mumbai, at a monthly rent of ₹2.47 crore, according to property registration documents accessed by Propstack.
The new lease expands Wipro’s existing footprint in the business park, where it currently occupies 3.45 lakh sq ft.
Also Read: Wipro leases 3.87 lakh sq ft in Mindspace Business Park in Navi Mumbai’s Airoli for 10 years
According to the documents, Wipro will occupy eight floors in the building, with a carpet area of 270,949 sq ft and a chargeable area of 387,072 sq ft.
