By Kailash Babar
Copyright indiatimes
AgenciesRepresentative Image
Smartworks Coworking Spaces has leased over 557,000 sq ft office space spread across ground plus eight floors at Tata Realty & Infrastructure’s information technology park Intellion Park on Navi Mumbai’s Thane Belapur Road.The facility is expected to accommodate more than 12,000 seats. The lease has a tenure of 60+60 months, with a lock-in period of 54 months. Rentals are set at Rs 63.18 per sq ft, with an escalation clause of 15% every 36 months. The agreement also provides signage rights to Smartworks.“Mumbai is a strategic market and enterprise demand here continues to accelerate across sectors. Intellion Park, our largest managed office campus in the city, is designed for enterprises that need scale, speed, and experience under one roof,” said Neetish Sarda, Managing Director and Founder, Smartworks.The deal marks Smartworks’ largest managed office campus in the Mumbai region and takes its leased portfolio in the region past 1 million sq. ft.“With Intellion Park set to become Navi Mumbai’s largest IT Park, and Smartworks’ expertise in building scalable, enterprise-grade campuses, this collaboration is poised to set new benchmarks in the region’s commercial real estate landscape,” said Sanjay Dutt, Managing Director & CEO, Tata Realty.Live EventsThe new Smartworks campus in Navi Mumbai is expected to be operational in November-December.Thane Belapur Road has established residential hubs, connectivity, and access to a large talent pool, factors that have drawn interest from enterprise occupiers.Smartworks has a total footprint of about 12 million sq ft across 14 cities in India and Singapore, with more than 730 clients. Its portfolio includes four campuses of over 500,000 sq ft each, led by the 700,000 sq. ft. Vaishnavi Tech Park in Bengaluru.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onSmartworks Coworking SpacesEscalation ClauseRightsTata RealtyNavi Mumbai Intellion Parkoffice space leasingmanaged office campuscommercial real estateThane Belapur Roadworkspace solutions
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
(You can now subscribe to our Economic Times WhatsApp channel)Read More News onSmartworks Coworking SpacesEscalation ClauseRightsTata RealtyNavi Mumbai Intellion Parkoffice space leasingmanaged office campuscommercial real estateThane Belapur Roadworkspace solutions(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
