BA Continuum has leased 1.11 lakh sq ft of Grade-A space at Cignus in Powai for ₹1.43 crore per month, strengthening corporate demand in the micro-market. Meanwhile, Tusshar Kapoor and Jitendra Kapoor sold a 3.25 lakh sq ft commercial property in Chandivali for ₹559.25 crore, underscoring rising investor activity.
Mumbai’s Powai commercial market has recorded another major Grade-A office leasing transaction, with BA Continuum India Pvt Ltd securing 1.11 lakh sq ft at the Cignus building for a starting monthly rent of ₹1.43 crore. The deal, registered on December 24, 2025, highlights Powai’s strong appeal among corporates seeking premium workspaces supported by established business infrastructure and connectivity.
The leased premises include Units 2201 and 2301 on the 22nd and 23rd floors, totalling 1,11,023 sq ft. According to registration details, the agreement carries a rental rate of ₹129 per sq ft and includes “a security deposit of ₹8.59 crore” along with “112 car parking spaces.” The lease spans 10 years and nine months, with a three-year lock-in period. Both lease commencement and rent commencement began on January 1, 2026. In addition to the base rent, the tenant will pay “common area maintenance (CAM) charges of ₹20 per sq ft per month.”
Powai’s Rising Demand for Grade-A Stock
Powai has become a preferred office destination for large financial and technology firms due to its mix of new-age office buildings, accessible transport links and steady supply of institutional-grade assets. In December last year, JP Morgan Services India Private Limited also leased 2.71 lakh sq ft in Powai at One Downtown Central for a monthly rent of ₹9.23 crore, a deal licensed by Cowrks India. The transaction underscored rising absorption in high-quality spaces, especially in eastern Mumbai’s established business precincts.
High-Value Commercial Transaction in Chandivali
In a separate major development, the Chandivali micro-market witnessed a high-value commercial asset sale. Bollywood actor Tusshar Kapoor, through Tushar Infra Developers Private Limited, together with his father Jitendra Kapoor via Pantheon Buildcon Private Limited, sold a commercial property for ₹559.25 crore, as per documents reviewed by Square Yards.
The property is part of Balaji IT Park (DC-10 Building) and spans “approximately 30,195 sq metres (around 3.25 lakh sq ft).” The transaction, registered in January 2026, adds to Chandivali’s growing list of large-ticket deals. Notably, the same IT park recorded a transaction worth ₹ 855 crore in May 2025, signalling persistent investor interest in high-quality commercial assets in the area.
Eastern Mumbai Emerging as a Corporate and Investor Hub
With large leasing commitments and major asset sales taking place within weeks of each other, Powai and Chandivali continue to strengthen their positions as key commercial hotspots. Institutional landlords, global occupiers, and private investors are gravitating toward these micro-markets due to stable rents, strong infrastructure, and the availability of scalable workspace formats.
The latest transactions reflect a broader industry trend: sustained appetite for Grade-A inventory, rising institutional investments and long-term corporate expansion plans across Mumbai’s eastern business belt.
