Where did State Bank of India lease office space for its global capability centre?

State Bank of India leased 134,000 sq. ft of office space in Newa Bhakti Knowledge City, located in Airoli, Navi Mumbai.

What is the monthly rent for SBI's new office space in Navi Mumbai?

The monthly rent for the five-year lease is approximately ₹1.68 crore, which includes interior fit-outs.

How does SBI's new lease contribute to India's Global Capability Centre ecosystem?

The lease underscores SBI's commitment to supporting the growing GCC ecosystem by establishing a new centre and reinforcing Airoli as a hub for such facilities.

Home / Business and Economy / SBI Leases Navi Mumbai Office for Global Center

SBI Leases Navi Mumbai Office for Global Center

27 Feb

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Summary

SBI leased 134,000 sq. ft office space in Navi Mumbai's Airoli.
The monthly rent for the five-year lease is approximately ₹1.68 crore.
This move supports India's growing Global Capability Centre ecosystem.

SBI Leases Navi Mumbai Office for Global Center

State Bank of India (SBI) has secured a significant office space of 134,000 sq. ft on lease in Navi Mumbai's Airoli, specifically at Newa Bhakti Knowledge City. This expansion is aimed at establishing a global capability centre.

The lease agreement, signed in February, spans five years with a monthly rent of around ₹1.68 crore, inclusive of interior fit-outs. Following this period, a 15% rent escalation is stipulated for any renewal. This development reinforces Airoli's position as a prime location for GCCs within the Mumbai Metropolitan Region, attracting institutional tenants prioritizing consolidated, ready-to-use spaces for technological mandates.