The well-planned city, Navi Mumbai has a growing footprint of high- end and superior corporate offices. In addition, it is interestingly emerging as a hub for Outsourcing/off-shore business too.Outsourcing services represents a segment of Business Process Outsourcing (BPO) in which companies utilize wholly-owned subsidiaries in place of 3rd party vendors. Navi Mumbai continues to have the most affordable average rental rates among all micro-markets of Mumbai.
The availability of office spaces, good connectivity by road and rail to all areas within the Mumbai metropolitan region and access to a human capital in its proximity, it will emerge as one of India’s most prominent hubs for the BFSI sector.
Financial companies, like Axis Bank, IDFC or a MNC like UBS , increasingly prefer to base their back-end operations here. While Axis and IDFC have expanded considerably in this satellite city, SBI is also likely to follow.
Over the last few years, prominent companies such as Accenture, L&T Infotech, Capgemini (iGate), Cognizant and Syntel have made Navi Mumbai an established back office hub. Many more businesses are expected to set up their back-end operations here.
In Navi Mumbai, especially the Airoli-CBD Belapur stretch is preferred, followed by Vashi and Nerul which enjoys better rail and road connectivity.
Corporate office facilities are either built-to-suit or bought from a developer, post the project’s completion. As many more companies are expected to permanently move or set up in-house back-end processes here, taking care of these office space demand becomes hugely important. There is stronger momentum in demand for office spaces in Navi Mumbai for the past five years and is expected to rise over the next five years.
Apart from the rental rates , the location advantage of being situated so close to Mumbai,Thane and Pune helps the businesses operating here immensely. One can enjoy access to large talent pools from within the city as also from Thane, Panvel and Mumbai’s eastern suburbs. Employers here are able to offer the ‘walk-to-work’ or cab advantages to many of their employees.
Access to such large talent pools and residential catchments, good quality housing with all modern amenities is also available in abundance here. The social infrastructure is well developed and most areas have access to good schools, hospitals, malls and entertainment avenues.