Panchshil Realty buys Capgemini's Thane Knowledge Park for ₹550 crore

Panchshil Realty has bought Capgemini's Thane Knowledge Park for Rs 550 crore, expanding its office space portfolio as Mumbai's commercial property market sees major shifts

Pune-based real estate developer Panchshil Realty has acquired land parcels consisting of five buildings of Capgemini Knowledge Park from Capgemini Technology Services India, the Indian arm of the French information technology firm, for Rs 550 crore.

 

According to CRE Matrix, a real estate data analytics firm, the property has been assigned to Prime Lohegaon Infraspaces LLP, a subsidiary of Panchshil Realty. The firm has paid a stamp duty of Rs 27.5 crore and a registration fee of Rs 30,000 for the transaction.

 

The property spans 15.38 acres and is located in the Thane Creek Industrial Area in Dighe. Emails sent to Panchshil Realty and Capgemini have not been answered yet.

 

 

Besides, the property is an addition to Panchshil’s 22.77 million square feet (msf) of developed office space portfolio. The company also has an under-development portfolio of 32.1 msf. This portfolio consists of eight tech parks, five mixed-use developments, and two special economic zone (SEZ) properties. The company also has data centres, residential projects, and hospitality assets in its portfolio.

 

Additionally, the Mumbai Metropolitan Region (MMR) has played a pivotal role in shaping India’s office market evolution. According to Knight Frank India, with a total stock of 169 msf as of the first half of 2025 (H1 2025), MMR stands as the third-largest office market in India, contributing 17 per cent to the nation’s total office stock.

 

Mumbai’s commercial footprint is undergoing a fundamental transformation, with 58 per cent of the office stock now concentrated in Secondary Business Districts (SBDs) such as Bandra-Kurla Complex (BKC), Andheri, Goregaon, and Powai. The traditional Central Business Districts (CBDs) like Nariman Point and Fort, once the epicentres of corporate India, now account for only 15 per cent of the market’s stock. The Peripheral Business Districts (PBDs) – Thane, Navi Mumbai, Airoli, and Belapur – comprise 27 per cent, indicating growing traction in affordable and infrastructure-enabled corridors.