BNP Paribas India Solutions, the global banking group’s technology and operations arm, has picked up a commercial office spread over 145,000 sq ft in Thane through a long-term lease spanning over five years, marking one of the largest office transactions in the peripheral areas of the country's commercial capital.
The company has leased the office space across the 11th and 12th floors of commercial tower Centaurus from Roma Builders, part of the House of Hiranandani.
BNP Paribas India Solutions will be paying a monthly rent of Rs 94.95 lakh. The agreement includes a 4.75% rental escalation every year and a security deposit of Rs 8.50 crore.
The lease tenure begins on July 10, while rent commencement has been scheduled for April 10, 2026, showed documents accessed through realty data analytics firm Propstack.
This follows another transaction by BNP Paribas earlier this year. In March, the bank leased office space at Maker Maxity in business district Bandra Kurla Complex (BKC) at a record Rs 811 per sq ft per month. That deal was among the most expensive office rentals in the country and underlined BKC’s position as India’s costliest office market.
The Thane lease, in contrast, highlights a growing trend of large corporations and multinationals looking beyond conventional city-centric hubs such as BKC, Nariman Point and Lower Parel. With rising rentals in prime districts, companies are increasingly setting up significant back-office and support operations in peripheral locations like Thane, Navi Mumbai, and even areas along the extended western and central suburbs.
Industry experts point out that these markets offer large contiguous floor plates at relatively competitive rentals, something that central business districts cannot always provide.
BNP Paribas already occupies multiple offices in Mumbai and its Thane expansion signals continued confidence in India as a key hub for its global operations. The bank’s India solutions unit handles technology, operations and service delivery for several businesses across regions.
ET’s email queries to BNP Paribas and Hiranandani Group remained unanswered until the time of going to press.
Despite concerns around global economic growth, leasing activity by multinational companies has remained resilient, particularly in India’s financial capital. The BNP Paribas Thane transaction adds to a string of large office space deals signed over the past year, reaffirming demand for both premium and emerging business districts.
India’s commercial office market recorded a landmark performance in the last financial year, with leasing activity reaching an all-time high. The surge was driven by a mix of expansion plans by global and domestic occupiers, portfolio consolidation and the preference for high-quality, well-connected office spaces in major business hubs.
The company has leased the office space across the 11th and 12th floors of commercial tower Centaurus from Roma Builders, part of the House of Hiranandani.
BNP Paribas India Solutions will be paying a monthly rent of Rs 94.95 lakh. The agreement includes a 4.75% rental escalation every year and a security deposit of Rs 8.50 crore.
The lease tenure begins on July 10, while rent commencement has been scheduled for April 10, 2026, showed documents accessed through realty data analytics firm Propstack.
This follows another transaction by BNP Paribas earlier this year. In March, the bank leased office space at Maker Maxity in business district Bandra Kurla Complex (BKC) at a record Rs 811 per sq ft per month. That deal was among the most expensive office rentals in the country and underlined BKC’s position as India’s costliest office market.
The Thane lease, in contrast, highlights a growing trend of large corporations and multinationals looking beyond conventional city-centric hubs such as BKC, Nariman Point and Lower Parel. With rising rentals in prime districts, companies are increasingly setting up significant back-office and support operations in peripheral locations like Thane, Navi Mumbai, and even areas along the extended western and central suburbs.
Industry experts point out that these markets offer large contiguous floor plates at relatively competitive rentals, something that central business districts cannot always provide.
BNP Paribas already occupies multiple offices in Mumbai and its Thane expansion signals continued confidence in India as a key hub for its global operations. The bank’s India solutions unit handles technology, operations and service delivery for several businesses across regions.
ET’s email queries to BNP Paribas and Hiranandani Group remained unanswered until the time of going to press.
Despite concerns around global economic growth, leasing activity by multinational companies has remained resilient, particularly in India’s financial capital. The BNP Paribas Thane transaction adds to a string of large office space deals signed over the past year, reaffirming demand for both premium and emerging business districts.
India’s commercial office market recorded a landmark performance in the last financial year, with leasing activity reaching an all-time high. The surge was driven by a mix of expansion plans by global and domestic occupiers, portfolio consolidation and the preference for high-quality, well-connected office spaces in major business hubs.
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