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Dow Chemicals leases almost 2 lakh sq ft office space in Navi Mumbai’s Mindspace Business Park for ₹1.64 crore a month
Dow Chemicals has leased five floors at Mindspace Business Park in Navi Mumbai's Airoli, for 10 years. The complex hosts leading domestic and global firms
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
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.
