Cognizant renews lease at Mindspace Navi Mumbai for ₹62.7 lakh/month

Cognizant Technology Solutions India has renewed its office lease at Mindspace Business Parks in Navi Mumbai, signing a fresh five-year agreement for 92,208 sq ft at a monthly rent of ₹62,70,144, according to registration documents accessed by CRE Matrix.

 

The transaction covers office spaces on the 2nd (Unit 201) and 6th floors (Unit 601) of Mindspace, Plot No. 3, TTC Industrial Area, MIDC. The renewal was registered on December 12, 2025, with a security deposit of ₹3.76 crore.

 

Key Commercial Terms

 

Total area: 92,208 sq ft

 

Monthly rent: ₹62.7 lakh

 

Rent per sq ft: ₹68

 

Security deposit: ₹3.76 crore

 

Lease tenure: 60 months

 

Lock-in period: 36 months

 

Annual escalation: 4.5%

 

Car parks: 99 slots

 

CAM charges: ₹11 per sq ft per month

 

Handover date: July 5, 2025

 

Rent-free period: May 5, 2030 – July 4, 2030

 

This renewal signals steady office space demand in institutional-grade parks even as workplace strategies evolve. Mindspace Business Parks continues to attract large technology tenants due to its Grade-A assets, transport connectivity and integrated business ecosystem.