By Arosh John, Founder, John Real Estate (MahaRERA Reg. No. A51700001835) | Editor-in-Chief, Thane Real Estate News (TREN)
MMR | 28 January 2026
Transaction Snapshot (As Reported)
HERE Solutions India Pvt Ltd (the India arm of HERE Technologies) has leased over 2.1 lakh sq ft of office space at Mindspace Airoli West (Gigaplex), Navi Mumbai, on a long-term lease of over 10 years, according to a media report that cites property documents accessed via a realty data analytics platform.
Reported Transaction Terms
- Asset / Location: Mindspace Airoli West (Gigaplex), Airoli, Navi Mumbai
- Owner / Lessor entity: Gigaplex Estate Pvt Ltd
- Lease term: Over 10 years
- Floors: 4th, 8th, and 9th floors (three floors)
- Carpet area: 145,983 sq ft
- Chargeable area: 208,547 sq ft
- Monthly rent: ₹71 per sq ft (on chargeable area)
- Approx. monthly rent outgo: ₹1.48 crore
- Security deposit: ₹13.32 crore
- Escalation: 4.5% per year
- Lease commencement: 20 December 2025 (as stated in the report)
Navi Mumbai Office Leasing: Airoli Keeps Attracting Large, Long-Term Commitments
This transaction reinforces a clear pattern along the Thane–Belapur corridor: large occupiers are concentrating into institutional-grade business parks when they need:
- Scale on one campus, not fragmented offices
- Operational reliability (managed infrastructure and predictable services)
- Consolidation-friendly floorplates that support growth
For business park owners, long-term occupancy improves income visibility and strengthens the narrative for Grade-A, manager-operated assets in Navi Mumbai.
Why Engineering-Led Occupiers Prefer Airoli’s Business Park Ecosystem
HERE operates in location data, mapping, and navigation, supporting industries such as automotive, mobility, logistics, and technology. Tenants in this category typically optimise for:
- Talent access and commute practicality
- Reliable building systems and uptime
- Room to expand within the same park over time
Airoli’s corporate cluster fits that requirement, which is why it continues to see larger-format office absorption.
Also READ: From Thane to Navi Mumbai Airport: The Roads, Metros & Trains That Will Get You There
Also READ: Panchshil Realty Acquires Capgemini’s Airoli Knowledge Park for ₹550 Crore
About the Author
Arosh John is the Founder of John Real Estate (MahaRERA Reg. No. A51700001835) and Editor-in-Chief of Thane Real Estate News (TREN). With over a decade of on-ground advisory experience across Thane and the wider MMR—spanning residential, luxury, villas, resale, and NRI investor transactions—he tracks how corporate expansion, infrastructure upgrades, and regulatory shifts translate into micro-market demand, pricing, and absorption trends.
Disclaimer
This article is published for information and editorial purposes. The transaction details are presented as reported by a credible media source, based on document references stated in that report. TREN has not independently verified the underlying transaction documents. This is not legal, tax, or investment advice.
