Wipro Secures 1.45 Lakh Sq Ft Expansion at Mindspace SEZ, Navi Mumbai

By Cygnus | 06 Jan 2026

Wipro’s latest expansion in Navi Mumbai’s Mindspace SEZ brings its total campus footprint to nearly 8.8 lakh square feet, following a record year for Indian office leasing. (Image: AI Generated)

IT giant Wipro Limited has further consolidated its presence in the Mumbai Metropolitan Region (MMR) by leasing 145,157 square feet of Grade-A office space at the Mindspace SEZ in Airoli East. The five-year lease underscores the continued reliance of major technology firms on premium business parks to support large-scale operations.

The agreement, signed with Mindspace Business Parks Pvt Ltd (a unit of Mindspace Business Parks REIT), was registered in late December 2025. This deal takes Wipro’s cumulative occupancy at the Airoli campus to approximately 8.77 lakh square feet, following a massive 3.87 lakh sq ft expansion in mid-2025.

Key Commercial Terms

The transaction, accessed via real estate data platform CRE Matrix, includes the following specific terms:

Monthly Rental: ₹97.25 lakh (₹67 per sq ft).
Security Deposit: ₹5.83 crore, equivalent to six months’ rent.
Timeline: Possession is scheduled for January 7, 2026, with rent commencement starting April 1, 2026.
Maintenance: Common Area Maintenance (CAM) charges are fixed at ₹12 per sq ft.
Escalation: 5% annual increase on both monthly rent and security deposit.

Market Momentum: A Record 2025

Wipro’s move aligns with a historic year for Indian commercial real estate. According to Anarock Research, net office absorption across India’s top seven cities hit an all-time high of 55.16 million square feet in 2025, a 10% year-on-year increase.

The MMR market specifically saw absorption rise by 15% to 8.23 million square feet, driven by a mix of Global Capability Centres (GCCs) and domestic IT giants. Average rentals in the region rose by approximately 5% over the last year, as vacancy rates in prime hubs like Navi Mumbai tightened to 14.7%.

Summary

Wipro has leased 145,157 sq ft at Mindspace SEZ, Navi Mumbai, for five years at a starting rent of ₹97.25 lakh per month. The deal reflects the sustained demand for scalable office hubs in the MMR. With possession starting January 7, 2026, the transaction caps a record-breaking year for the Indian office market, which saw a peak absorption of 55.16 million sq ft in 2025.