Cognizant Technology Solutions India Pvt. Ltd., an IT services company, has renewed the lease for over 92,000 sq ft of commercial office space at Mindspace Business Park in Airoli, Navi Mumbai, which is a home to several IT and technology firms. The office space is leased for over ₹39.66 crore, as per the property registration documents.

• Situated in Mindspace Business Park in Airoli, the commercial office spaces are on the second and sixth floors, comprising 45,000 sq ft and exceeding 46,000 sq ft respectively.
• The starting monthly rent is ₹62.70 lakh, which is estimated to increase by 4.5% annually.
• According to the documents, the office space with a three-year lock-in has been leased for a period of five years.
• The company paid a stamp duty of more than ₹42 lakh and a registration fees of ₹30,000 for the transaction registered on December 12, 2025.
• The documents further said that the transaction also covers a two-month rent-free period from May 5, 2030 to July 4, 2030.
• The tenant will need to pay Common Area Maintenance (CAM) charges of ₹11 per sq ft per month.

1. Dow Chemicals International Pvt Ltd

According to the documents, Dow Chemicals International Pvt Ltd leased an office space of 1.79 lakh sq ft for ₹1.64 crore per month in a 10-year agreement. The company paid a security deposit of ₹14.77 crore with an annual rent escalation of 5% on a chargeable area of around 2.56 lakh sq ft.

2. Wipro Limited

According to the property registration documents, earlier this year, Wipro Limited, another major IT company, leased a commercial office space for 10 years of 3.87 lakh sq ft with a monthly rent of ₹2.47 crore in Mindspace Business Park in Airoli, strengthening its presence.

With this expansion, Wipro currently occupies 3.45 lakh sq ft of office space in this business park. The company has leased eight floors in the building with a carpet area of 270,949 sq ft and a chargeable area of 387,072 sq ft.

3. HDFC Bank

Last year, HDFC Bank leased an office space of 4 lakh sq ft for a total contractual value of over ₹320 crore for 10 years in Mindspace Business Park in Airoli, Navi Mumbai.

HDFC Bank made the lease agreement in two separate deals with Mindspace Business Park, with the first lease being registered in November of 1.97 lakh sq ft of space in Gigaplex Building 5 and the second lease of 2.18 lakh sq ft.

Mindspace Business Parks, which is considered to be one of the best business parks, is a home to some of the prominent companies across various sectors such as IT, consulting, healthcare, tech and financial services. By leasing a commercial office space in Mindspace Business Park in Airoli, Navi Mumbai, Cognizant has access to excellent connectivity, lower congestion, comparatively sustainable operating costs and well planned infrastructure.