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Wipro Leases 1.45 Lakh Sq Ft at Mindspace Airoli, Strengthens Navi Mumbai Presence.

IT services major Wipro has leased around 1.45 lakh sq ft of Grade A office space at Mindspace Business Park, Airoli East, Navi Mumbai, on a long-term basis, highlighting continued demand for cost-efficient offices in peripheral business districts. The lease agreement, registered on December 29, is for a tenure of 60 months, with a lock-in period of 36 months. The starting monthly rent is approximately ₹97.25 lakh, translating to about ₹67 per sq ft, with an annual escalation of 5%. Wipro has paid a security deposit of nearly ₹5.83 crore and will have access to 97 car parking spaces. The premises will be handed over on January 7, while rent will commence from April 1, with an 84-day rent-free fit-out period. Additionally, common area maintenance charges are set at ₹12 per sq ft per month. The deal reflects growing preference among large IT firms for scalable, affordable office locations like Airoli, supported by improving connectivity and availability of large office campuses.