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Commercial Landmark in the Making: A New Flagship Development at Sector 52A, Nerul Commercial Project

  • Writer: Ajjay Bhagyakar
    Ajjay Bhagyakar
  • Oct 29
  • 4 min read


A major new commercial project is set to take shape in the heart of Navi Mumbai’s Nerul node. The promoter TGPL has announced a significant development located on a 1.3-acre land parcel, under a 60-year lease from CIDCO (City and Industrial Development Corporation) in Sector 52A, Nerul. According to the announcement, the development will consist of office spaces at the upper levels (approximately 2 lakh sq ft built-up area, IGBC-certified), and a podium/retail & restaurant zone at the lower levels. X (formerly Twitter)+1

This blog unpacks the details, context, and value proposition of the project — and considers what it could mean for occupiers, investors and the broader Navi Mumbai commercial market.


Project overview & key features


Here are the standout features that the announcement highlights:

  • Land parcel: 1.3 acres leased for 60 years from CIDCO. X (formerly Twitter)

  • Built-up area (BUA): Two floors dedicated to office space, with a combined area of ~2 lakh sq ft. X (formerly Twitter)

  • Certification: Office floors are planned to be IGBC (Indian Green Building Council) certified, indicating an eco-sustainable approach. X (formerly Twitter)

  • Usage mix: Lower levels will be dedicated to retail and restaurants, creating a mixed-use environment. X (formerly Twitter)

  • Promoter & status: The promoter TGPL has announced the project with the status labelled S/P (likely “Sale / Pre-launch” or “Schedule/Planned”). X (formerly Twitter)


Location & strategic advantages


The location in Sector 52A, Nerul offers several strategic advantages:

  • Nerul node, Navi Mumbai: Nerul is a well-established node within the Mumbai Metropolitan Region, with strong connectivity, existing infrastructure and proximity to key commercial hubs.

  • Land leased from CIDCO: A 60-year lease from CIDCO provides tenure clarity and institutional backing (though of course one must verify final lease terms).

  • Mixed-use environment: With office space above and retail/restaurants below, the project offers live–work–consume potential — an attractive combination for occupiers seeking amenity-rich locations.

  • Sustainability focus: IGBC certification signals alignment with modern corporate occupiers’ ESG (Environmental, Social & Governance) criteria and may enhance asset value.

  • Emerging commercial ecosystem: The broader area of Nerul and nearby nodes has seen commercial growth, and a well-positioned new development may capitalise on that momentum.


Market context & oportunity ( Nerul Commercial Project )


In the context of Navi Mumbai’s commercial real estate market, this project could be timely for several reasons:

  • Demand for quality office spaces outside central Mumbai is growing, as occupiers seek better cost structures, connectivity and modern amenities.

  • Mixed-use projects with retail and F&B components add lifestyle value, which helps in retention of occupiers and footfall generation for retail tenants.

  • Certification (IGBC) and green credentials are increasingly valued by corporate tenants, international firms and ESG-focused investors.

  • The location being a leased land parcel on CIDCO land offers a structured investment model (though lease length, escalation, and renewal terms will matter).

  • However, one must also check risks: regulatory approvals, lease tenure and terms, infrastructure delivery, connectivity, and competing supply in the node.


What to watch / next-steps for stakeholders


For potential tenants, investors or market watchers, here are some items to monitor:

  • Approval status & timeline: Has the project received all necessary planning, environmental and building permissions? When will construction begin and finish?

  • Lease/trust specifics: What exactly are the 60 year lease terms from CIDCO? Are there renewal/extension options? What are escalation/OPEX obligations?

  • Office floor-plate and amenities: What size are the individual office floors, what amenities (parking, lobby, MEP systems, HVAC, etc) will be provided?

  • Retail tenant mix & design: What sort of retail/restaurants are planned? Will the podium deliver activated ground-level experience, not just passive frontage?

  • Connectivity & infrastructure: How well connected is Sector 52A to transit nodes (rail, road), what is the micro-location accessibility, is there ample parking?

  • ESG & certification details: IGBC certification is good — but what level (Platinum, Gold, etc)? What sustainability features (energy-efficiency, waste-management, green spaces) will be integrated?

  • Competitive context: What other commercial developments are coming up in Nerul or adjacent nodes? What will rental / occupancy market look like in 2-3 years when the project comes to market?

  • Risk factors: Given portions of Sector 52A are flagged under environmental sensitivity (mangroves, water-bodies) as per Navi Mumbai news reports, is there risk of regulatory challenge? For example, recent reports mention illegal tree cutting in this region. Hindustan Times


Conclusion: Why this project matters


In summary: this new development by TGPL in Sector 52A, Nerul appears to bring together several right characteristics for the current commercial real-estate environment: a strong node, mixed-use functionality, sizeable quality office area, and green building certification. For occupiers seeking a modern base in Navi Mumbai or investors looking at upcoming assets in non-Mumbai-core locations, this project is definitely one to watch.

It also reflects a broader trend in Mumbai’s suburbs: shifting interest away from expensive central business districts, towards new nodes with integrated amenities and more sustainable environments. If executed well, this landmark could raise the bar for office-retail developments in the node.


Griha Realty Note

At Griha Realty we continually track such emerging projects to assess location trends, asset-performance potential and occupier demand dynamics. We will update further when more concrete details (floor-plans, fit-out specs, leasing cycles) become available.

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