By Arosh John | Founder – John Real Estate (MahaRERA Reg. No. A51700001835) | Editor-in-Chief – Thane Real Estate News (TREN)
Thane – MMR | November 2025
India’s managed-workspace sector has just marked its most significant milestone yet.
Smartworks, one of the country’s leading providers of enterprise-grade flexible offices, has signed a landmark lease agreement with the Hiranandani Group for an 8.15 lakh sq. ft. campus at Eastbridge, the upcoming commercial development by Regalia Office Parks (Hiranandani Group) on LBS Marg, Vikhroli (West).
This makes it India’s largest single managed-workspace campus and one of the largest globally. The facility is targeted for completion in Q4 2026, offering a fully serviced ecosystem of offices, cafés, wellness zones, and event spaces — built to WELL Core and IGBC Gold standards.
The lease, spanning five years, is estimated at around ₹121 per sq. ft., underscoring renewed confidence in Mumbai’s Grade-A office market. Smartworks already operates across 40+ locations in India and continues expanding through large-block deals in Navi Mumbai (Tata Realty’s Intellion Park) and Pune (Baner district).
A Visionary Collaboration
Announcing the partnership on LinkedIn, Dr. Niranjan Hiranandani, Founder & Chairman of Hiranandani Group, said:
“This partnership signifies a shift toward next-generation workplaces that integrate design innovation, sustainability, and human-centric experiences. As India’s enterprises grow bolder and more global, spaces like Eastbridge will empower their journey.”
He added that Eastbridge embodies a vision to build environments that inspire productivity, collaboration, and long-term value — a hallmark of Hiranandani’s approach to business infrastructure.
A Game-Changer for Mumbai’s East Corridor
The Hiranandani Group’s Eastbridge project forms part of a 20-acre integrated office precinct, planned as a next-generation business campus. With direct access to LBS Marg, JVLR, the Eastern and Western Express Highways, and the Central Railway network, Vikhroli is rapidly positioning itself as a strategic enterprise hub connecting Mumbai and Thane.
The new Smartworks campus will feature:
- EV-charging bays and parking for over 1,000 cars
- Rainwater harvesting and solar-roof systems
- Meditation decks, jogging tracks, and a Miyawaki forest
- Smart-access and environmental monitoring systems
Such amenity-driven campuses mark a decisive shift from conventional office towers to flexible, experience-oriented ecosystems tailored for large corporate occupiers.
Why This Matters
Scale Meets Flexibility:
At 8.15 lakh sq. ft., Smartworks’ lease shows that managed-workspace operators are now occupying entire campuses — reflecting the growing preference for plug-and-play enterprise workspaces.
Eastward Business Migration:
As western micro-markets approach saturation, Vikhroli–Kanjurmarg–Thane is emerging as the new growth axis — driven by transport infrastructure and cost-efficient Grade-A supply.
Sustainability and ESG Alignment:
WELL and IGBC certifications underscore how corporate real estate decisions now center on wellness, design, and energy efficiency rather than just cost per square foot.
Implications for Thane’s Office Market
The Smartworks–Hiranandani partnership sets a clear benchmark for developers and investors eyeing Thane’s evolving business zones. With Metro Lines 4 and 5 and the Thane Ring Metro boosting connectivity, micro-markets such as Kolshet, Balkum, and Majiwada could soon attract similar large-format office campuses.
Developers that integrate sustainability, flexibility, and tenant experience will define Thane’s next commercial growth phase — bridging the residential, retail, and workspace ecosystems that the MMR economy increasingly demands.
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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) — a digital platform dedicated to factual, insight-driven coverage of the Mumbai Metropolitan Region’s evolving property landscape. With over a decade of on-ground experience across Thane’s residential, resale, NRI advisory, and luxury villa segments, Arosh combines local market intelligence with regulatory insight to decode how policies, infrastructure, and urban planning shape real estate value. He is widely regarded as one of the emerging voices of Thane’s new-age property journalism — bridging professional advisory and data-backed reporting for investors, developers, and end-users alike.
Disclaimer
All project details have been verified through official press communications from Smartworks Coworking Spaces Ltd. and Hiranandani Group (Regalia Office Parks) dated November 3, 2025, as well as statements issued by Dr. Niranjan Hiranandani on his verified LinkedIn account. No speculative or unverified financial data has been included.
