Blog Post
Mumbai became the most expensive city in terms of office rent, crossed the pre-Covid level
26-Oct-2024 Mumbai has become the most expensive office rental market. Rents in Mumbai have increased by about 6 percent since 2019
Mumbai remained the most expensive office rental market in the country. office rent have risen by nearly 6 percent since 2019, with a weighted average of Rs 151.60 rupees per square foot per month as at the end of the July-September quarter according to real estate consultancy Colliers.
As of September 2024, the average quoted office rental across India was approximately Rs 101.30 per square foot per month. This represents a 2 percent increase compared to rates in 2019, reflecting a gradual recovery and growth in the office rental market over the past few years.
Although Mumbai's real estate sector may not have fully capitalized on the growth driven by IT services, it continues to excel in the banking, financial services, and insurance (BFSI) sectors.
A prominent developer in the city reports that banks, insurers, and brokers are still actively pursuing prestigious locations for their headquarters and large office spaces, with many showing a willingness to buy entire buildings. This sustained demand highlights Mumbai's strong position as a key hub for financial services.
Upcoming Events
-
26-Oct-2024 Real estate firm Godrej Property has acquired 3 acres of land in Vastrapur, Ahmedabad to develop a housing project. The company says that the project is expected to generate sales of Rs 1300 crore
-
26-Oct-2024 Maharashtra's Real Estate Regulatory Authority (RERA) has introduced a new mandate requiring the disclosure of broker fees
-
10-Sep-2024 MahaRERA's new platform - MahaCRITI, launching on September 1, 2024, is set to transform real estate transparency. MahaCRITI promises to improve accessibility to project details, timelines, and legal information for homebuyers, developers, and real estate agents. This innovative upgrade ensures a more effective and transparent real estate experience for all stakeholders.
-
09-Sep-2024 Test
Thank you for visiting our website. We are currently in the process of revising our website in accordance with RERA. We are in the process of updating the website. The content provided on this website is for informational purposes only, and should not be construed as legal advice on any subject matter. Without any limitation or qualification, users hereby agree with this Disclaimer, when accessing or using this website
The site is promoted by Digispace, an official marketing partner of the project & RERA is A51700026634
-
| Careers |
-
| About Us |
-
| Privacy Policy |
-
| Contact Us |
Copyright © 2022 . All Rights Reserved , Star by North Consutructions | Designed by AIS
