Mumbai - 4th most Expensive Market for office rental spaces?

**anu** · 11-15-2010, 11:43 PM

According to a recent report by global real estate consultant CB Richard Ellis, Mumbai - India's business capital, is ranked as the 4th most expensive market in terms of office space rentals in the world. New Delhi is placed at the 11th spot in the list, which is topped by London.
The rankings are based on occupancy costs for prime office space in 175 cities worldwide. Occupancy costs represent rent, local taxes and service charges.
As per the survey, Mumbai has an occupancy cost per square feet per annum of $130.41 while that of New Delhi is $101.21. The report noted that global rents have started to stabilise and so far, have seen a fall of 1.3 per cent from a year ago.

Which of the suburbs in Mumbai are drawing the maximum rent? Do you think that the rates are inflated?

**Divi** · 11-19-2010, 02:44 AM

Real estate has been the most fruitful investment especially in metros of India.
In Mumbai, office rents are elevating by the strong demand from IT businesses and, to an extent, the financial sector.

Suburbs like Nariman Point, Lower Parel, Bandra-Kurla Complex and Andheri are the ones that are drawing the maximum rent in Mumbai

**reenasingh** · 12-19-2010, 11:22 PM

A 100-sq. ft cubicle or workstation for a middle-level corporate executive at Nariman Point or Backbay Reclamation in Mumbai costs as much as Rs 47,675 a month for a corporate housed on the seafront.that is Hindustan Lever, the Birlas, the Ambanis, and most public and private banks whose offices once showcased the famed central business district of Backbay Reclamation and Nariman Point to the world, have bid adieu to the seafront.

The Aditya Birla Group has shifted to Worli. Hindustan Lever has settled down at their Andheri East premises. Both the Ambani siblings have their major establishments working out of Navi Mumbai.

The famous diamond market Jhaveri Bazaar is all set to move to the Bharat Diamond Bourse at the sprawling Bandra Kurla Complex.

The Mumbai Cricket Association now has a stadium at BKC. JP Morgan has its own building in Kalina. MNCs such as Bayer prefer to work out of Powai and Thane. Almost all PSU banks have large holdings in BKC.

The rankings are based on occupancy costs for prime office space in 175 cities worldwide. Occupancy costs represent rent, local taxes and service charges.As per the survey, Mumbai has an occupancy cost per square feet per annum of USD 130.41 while that of New Delhi is USD 101.21.The report noted that global rents have started to stabilise and so far, have seen a fall of 1.3 per cent from a year ago.