Mindspace Airoli East

A Preferred Location with Accessible Talent

Mindspace Airoli East, the largest business park in the Mumbai Region, offers an exceptional blend of expansive amenities, lush gardens, and a vibrant campus-style setting. This premier destination will enhance its appeal with a new recreational and entertainment zone featuring a curated selection of dining, retail, and F&B experiences. With direct access to Thane-Belapur Road and proximity to Airoli Railway Station, Mindspace Airoli East is a prime choice for businesses seeking a vibrant and well-connected location.

A new mixed-use development of about 0.8 million square feet is underway at the park, featuring office space and a hotel sub-leased to Chalet Hotels. This project integrates seamlessly with the existing landscape, including over 250 hotel rooms and 0.5 million square feet of office space, enhancing convenience and appeal for tenants and visitors.

SEZ Reforms to Propel Occupancy Growth
In Q3 FY24, the Indian Government’s Ministry of Commerce and Industry announced significant amendments to SEZ rules. These changes enable parts of SEZ areas to be classified as Non-Processing Areas (NPA) after repaying certain tax benefits. Previously, organizations could only convert entire land parcels from SEZ to non-SEZ status, which required vacating all built-up areas before the de-notification could begin. This development led to a slow tenant exit and declining SEZ occupancy levels.

The new SEZ reforms allow developers to convert SEZ processing areas into NPAs, exempting them from SEZ compliance. This granular approach will support leasing activities to address the increasing demand for NPA spaces. We have proactively leveraged these regulatory changes and received approval for all the areas that were applied for demarcation. Under these new regulations, a total area of 2.1 million sq ft is being converted.

The Business Park has received several honors including the ‘Best Sustainable Project of the Year – Awarded ‘Sword of Honour’ and Five Star Rating from the British Safety Council , ‘Best Sustainable Project of the Year – Commercial’ by the Golden Brick Award 2019, ‘Most Environment-Friendly Commercial Space of the Year’ by Realty Plus Conclave and Excellence Award 2019, ‘Developer of the Year - Commercial’ by ET NOW at the Real Estate Awards 2018. ‘Best Environment-Friendly Office Space’ at Realty Plus Conclave and Excellence Awards, 2019