Welspun One's INR 1,000 crore WTC Thane nears completion, 30 percent leased
The Thane development combines offices, retail and urban logistics, with Aditya Birla Group among early tenants. The investment figure includes tenant fit-outs, and the asset is 30 percent leased ahead of opening.
Welspun One's World Trade Center development at Thane is nearing completion, with total investment in the project expected to exceed INR 1,000 crore, and operations due to begin by the end of the year. The figure includes spending by tenants on their own spaces and fit-outs and the developer’s expenditure.
The asset at Wagle Estate is currently 30 percent leased, with offers to lease on a further 20 percent or more of the area, and is expected to support around 5,000 employees across its tenant ecosystem once occupied. Aditya Birla Group has leased space for vault operations, and Welspun Group has also signed up. Welspun One said further occupier announcements are expected as leasing paperwork progresses.
That context makes the leasing position worth watching. WTC Thane is due to begin operations by the end of the year with 30 percent of space committed, in a market where vacancy is at record lows and the surrounding corridor is leading the city on absorption.
The development combines Grade A offices, retail experience centres, food and beverage space and urban distribution centres in a single asset, designed to accommodate more than 50 brands across retail and F&B alongside large office occupiers. Welspun One describes it as a first of its kind integrated urban destination in India.
As a licensee of the World Trade Centre brand, occupiers get access to WTC membership and the World Trade Centers Association network, which spans more than 300 properties across close to 100 countries.
The wider Thane belt has been Mumbai's strongest office corridor this year. Cushman and Wakefield reported that Thane-Belapur Road was the most active leasing corridor in the city in the second quarter of 2026, ahead of Lower Parel, with Mumbai's first-half leasing reaching an all-time high of 10.7 million sq ft, vacancy declining and rents rising across suburban and peripheral corridors. JLL separately recorded Mumbai office vacancy at an all-time low in the first quarter, with rents up 3.4 percent year on year. WTC Thane sits at Wagle Estate, a separate micro-market within Thane from the Thane-Belapur corridor.
Chief Customer Officer Neeraj Balani said the project is intended to set a benchmark for how commercial space serves businesses, brands and consumers in a growing urban market.
Welspun One, backed by the Welspun World group, also developed WTC Nhava Sheva, a port-based logistics park at the JNPA SEZ.
