{"id":1262,"date":"2025-12-26T09:23:45","date_gmt":"2025-12-26T03:53:45","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=1262"},"modified":"2026-03-12T13:20:57","modified_gmt":"2026-03-12T07:50:57","slug":"cognizant-renews-92000-sq-ft-office-lease-in-navi-mumbai-in-%e2%82%b940-cr-deal","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/cognizant-renews-92000-sq-ft-office-lease-in-navi-mumbai-in-%e2%82%b940-cr-deal\/","title":{"rendered":"Cognizant Renews 92,000+ Sq Ft Office Lease in Navi Mumbai in \u20b940 Cr Deal"},"content":{"rendered":"\n

Cognizant Technology Solutions India Pvt. Ltd. has renewed a large office lease in Navi Mumbai, reaffirming its long-term presence in one of Mumbai\u2019s key IT hubs. According to property registration documents accessed by CRE Matrix<\/a>, the IT services major has secured over 92,000 sq ft of commercial office space at Mindspace Business Park in Airoli for a total lease value of nearly \u20b940 crore. The transaction highlights continued demand for Grade A office spaces in established technology parks.<\/p>\n\n\n\n

Details of the Lease Renewal<\/strong><\/h4>\n\n\n\n

Cognizant occupies the renewed office space across the second and sixth floors of Mindspace Business Park. The second floor measures around 45,000 sq ft, while the sixth floor exceeds 46,000 sq ft. Notably, the lease term is five years, with a lock-in period of three years.<\/p>\n\n\n\n

Cognizant will start with a monthly rent of \u20b962.70 lakh. The rent will escalate annually by 4.5%. The agreement also includes a two-month rent-free period from May 5, 2030, to July 4, 2030. In addition, the company will pay common area maintenance charges of \u20b911 per sq ft per month.<\/p>\n\n\n\n

Registration and Location Significance<\/strong><\/h4>\n\n\n\n

The transaction was registered on December 12, 2025. Cognizant paid stamp duty of over \u20b942 lakh and registration fees of \u20b930,000 for the deal.<\/p>\n\n\n\n

Meanwhile, Mindspace Business Park in Airoli continues to attract leading IT and technology firms. Owing to its strong infrastructure, reliable connectivity, and campus-style development, the location remains a preferred office destination. As a result, such large-scale renewals further strengthen Navi Mumbai\u2019s position as a stable and mature commercial office market.<\/p>\n\n\n\n

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