Mumbai’s Oberoi Commerz Welcomes NPCI Expansion Worth ₹2.51 Crores
The National Payments Corporation of India (NPCI) has entered a landmark lease agreement for two premium office floors in Oberoi Commerz III, Goregaon East, marking a significant milestone in its infrastructure expansion. The lease, registered in November 2024, will see NPCI occupying the 27th and 28th floors of this state-of-the-art commercial tower.
Spanning a chargeable area of 115,332 square feet and a carpet area of 80,732 square feet, the lease is valued at ₹2.15 crore per month, equivalent to an annual outlay of ₹25.9 crore. The property’s monthly rental rate stands at ₹187 per square foot. The lease, secured for a five-year tenure, incorporates a standard 15% rental escalation clause after the third year. Additionally, a nine-month security deposit forms part of the agreement. Operations at the new facility are set to commence on February 25, 2025. Strategically located in Goregaon’s burgeoning commercial hub, Oberoi Commerz III is known for its cutting-edge infrastructure and connectivity. This property has increasingly attracted major players seeking top-tier office spaces in Mumbai.
This leasing decision aligns with NPCI’s commitment to scaling its operations in tandem with the growing demand for digital payment solutions in India. As the backbone of the country’s digital payment ecosystem, NPCI’s expansion reflects its pivotal role in enabling innovation and financial inclusion. By investing in a modern workspace, NPCI demonstrates its focus on fostering operational efficiency and supporting the rapid adoption of digital transactions across India. As the nation moves closer to becoming a digitally empowered economy, NPCI’s infrastructure investments underscore its readiness to meet the future demands of a cashless society.
