Tag: Navi Mumbai

Commercial

Wipro leases 3.87 lakh sq ft office space in Navi Mumbai’s Airoli for 10 years

IT major Wipro Ltd has picked up office space spanning eight floors spread over 387,000 sq ft at K Raheja Corp’s IT special economic zone (SEZ) Mindspace Business Park in Navi Mumbai’s Airoli locality through a long-term lease of over 10 years. The deal concluded through two separate agreements has been signed at a monthly rent of Rs 2.48 crore with a clause for 5% annual escalation. Over the tenure of the lease, Wipro is expected to pay a total Rs 328 crore, including escalations. The IT SEZ is a property owned and operated by K Raheja Corp-backed listed Mindspace…

Infrastructure

Navi Mumbai civic body identifies 527 buildings as ‘dangerous’

Following a survey of old and dilapidated buildings, Navi Mumbai Municipal Corporation (NMMC) identified 527 buildings as ‘dangerous’ and urged the residents to vacate. “Continued occupation of such structures poses significant risks, and the corporation will not be liable for any resulting incidents,” said NMMC commissioner Kailas Shinde. An official said buildings that are more than 30 years old must complete structural inspections before Sept 30, and the reports be submitted to the assistant commissioner, ward officer, or assistant director of town planning department. Non-compliance attracts fine of Rs 25,000 or the annual property tax amount, whichever is higher. Published…

Industry

Pay property tax by June 30 & get 10% discount: Navi Mumbai civic body

NAVI MUMBAI: After collecting a record Rs 826 crore in property tax in 2024-25 and setting an ambitious target of Rs 1,200 crore for the 2025-26 fiscal, Navi Mumbai Municipal Corporation (NMMC) announced a 10% ‘Early Bird’ discount on general tax for property owners who pay their 2025-26 bills by June 30. NMMC commissioner Kailas Shinde said the 2025-26 property tax bills are now accessible online. Among the other initiatives to encourage timely tax payments and boost civic revenue is the implementation of a single annual bill distribution system from 2025-26, replacing the earlier practice of distributing bills twice a…