BNP Paribas India Solutions, the technology and operations division of the global banking group, has secured a long-term lease for a commercial office spanning 145,000 sq ft in Thane. This represents one of the largest office deals in the outskirts of India’s commercial hub.
The leased office occupies the 11th and 12th floors of the Centaurus commercial tower, developed by Roma Builders, a subsidiary of the House of Hiranandani.
The monthly rent for this space will be Rs 94.95 lakh, with a 4.75% annual rental escalation and a security deposit of Rs 8.50 crore.
The lease starts on July 10, while the rental payments will commence on April 10, 2026, according to data from realty analytics firm Propstack.
This deal follows BNP Paribas’s earlier transaction in March, where the bank rented space at Maker Maxity in Bandra Kurla Complex (BKC) for a notable Rs 811 per sq ft per month. That transaction highlighted BKC’s status as India’s most expensive office market.
The new Thane lease illustrates a trend, with major corporations and multinationals looking beyond traditional central business districts like BKC, Nariman Point, and Lower Parel. Rising rental costs in prime areas have led firms to establish significant back-office and support operations in peripheral regions such as Thane, Navi Mumbai, and the extended suburbs.
Experts indicate that these areas provide expansive floor space at competitive rental rates, a feature central business districts often lack.
BNP Paribas already has multiple offices in Mumbai, and this expansion into Thane reflects its ongoing confidence in India as a vital hub for global operations. The bank’s India solutions unit is responsible for technology, operations, and service delivery across various regions.
RealtyDailyNews’s inquiries via email to BNP Paribas and the Hiranandani Group received no response by press time.
Despite global economic concerns, leasing activity by multinational companies has shown resilience, particularly in India’s financial capital. The BNP Paribas Thane deal adds to a series of major office transactions over the past year, highlighting persistent demand for both premium and emerging business districts.
India’s commercial office sector achieved a remarkable performance in the last financial year, with leasing activity reaching a record high. This surge was fueled by expansion plans from both global and domestic businesses, ongoing portfolio consolidation, and a preference for high-quality, well-located office spaces in key business hubs.
