Cognizant Renews 5-Year Lease at Mindspace Business Parks in 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 new 5-year agreement for 92,208 sq ft at a monthly rent of ₹62,70,144, as per news reports. The lease renewal was registered on December 12, 2025, with a security deposit of ₹3.76 crore. 

Key Details of the Lease Agreement 

The lease agreement covers office spaces on the 2nd (Unit 201) and 6th floors (Unit 601) of Mindspace, Plot No. 3, TTC Industrial Area, MIDC. The lease tenure is set for 60 months, with a lock-in period of 36 months. An annual escalation of 4.5% is included in the terms. 

Additionally, the agreement provides for 99 car parking slots and CAM charges of ₹11 per sq ft per month. The handover date for the office space is July 5, 2025, with a rent-free period from May 5, 2030, to July 4, 2030. 

Significance of the Lease Renewal 

This lease renewal highlights the steady demand for office space 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. 

Read More: Elon Musk's Starlink Leases First Office in New Delhi with CorporatEdge! 

Conclusion 

The renewal of Cognizant's lease at Mindspace Navi Mumbai underscores the company's commitment to maintaining a significant presence in this strategic location. The terms of the lease reflect the ongoing demand for high-quality office spaces in well-connected business parks. 

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