Dow Chemicals International Pvt Ltd has leased 1.79 lakh sq ft of office space at Mindspace Business Park in Airoli, Navi Mumbai, for ₹1.64 crore per month under a 10-year agreement, according to documents accessed by Propstack.
According to documents, the deal is based on a chargeable area of around 2.56 lakh sq ft, translating to ₹64 per sq ft per month. The company has paid a ₹14.77 crore security deposit, with a 5% annual rent escalation clause.
In addition, Dow Chemicals has paid a fit-out security deposit of ₹82.09 crore, 10% of which will be refunded each year, along with a fit-out rent of ₹29.45 per sq ft per month.
Mindspace SEZ is constructed on a leasehold land measuring 1.98 lakh sq m and is located in Kalwa Industrial area of Trans Thane Creek Industrial area. It is notified as an IT/ITes sector special economic zone. The building in which the five floors have been leased are earmarked as non-processing area of the SEZ, the document showed.
The office spaces come with 225 car parkings, the documents showed
{{/usCountry}}The office spaces come with 225 car parkings, the documents showed
{{/usCountry}}Mindspace Business Parks in Airoli, Navi Mumbai, is home to several prominent domestic and international companies in sectors like IT, consulting, healthcare tech, and financial services.