Raheja Universal renews lease deal with Dow at Rs. 125/- sq. ft. at its Vashi NX Incubation Centre Navi Mumbai

Mumbai: In a notable commercial transaction in Navi Mumbai, Raheja Universal has renewed a significant lease agreement with Dow, a global leader in materials science committed to delivering innovative and sustainable solutions.

The agreement covers 72,811 sq. ft. of carpet area in the form of incubation sheds and has been signed at ₹125 per sq. ft., including maintenance. The deal is backed by a 12-month security deposit, carries a five-year lock-in for both parties, and includes a 5% annual escalation. The space also comes with 73 dedicated car parking spaces.

For Dow, this is not a new address. The company has been operating from the premises for more than 11 years. Vashi NX and the larger Navi Mumbai belt have changed visibly over the past decade. Improved road access, strong suburban rail connectivity, and proximity to key business corridors have made the area increasingly attractive. With the Navi Mumbai International Airport and ongoing infrastructure upgrades across the node, confidence in the region has further strengthened.

Raheja Universal has played a significant role in this transformation. In Vashi NX, its Raheja District mixed-use development that brings together residential, commercial, retail, leisure within an integrated ecosystem and industrial spaces in the same vicinity. Projects such as Solaris, and Lunaris have added to the skyline, while Prime at WTC Navi Mumbai has strengthened the commercial profile of the micro-market by attracting multinational occupiers and integrating the location into the larger global WTC network. On the industrial front, Raheja Tesla I & II have created organised infrastructure for businesses seeking well-connected facilities.

Over the years, the company has developed a diverse portfolio across residential, commercial, and industrial segments. The latest lease transaction reflects the continued presence of established occupiers in the micro-market and highlights the steady commercial activity in Vashi NX and the larger Navi Mumbai region.