Mumbai office space world's 5th most expensive
Fancy converting a neo gothic style apartment in Colaba into your design studio? Act earlier not later this year.
According to a new report issued by global property consultants Cushman & Wakefield, office market rents decreased by 16 percent in the Asia Pacific region last year. In Mumbai Worli was worst hit.
But India's financial capital is still costlier than New York, Moscow, Paris and Milan when it comes to having a fancy Mumbai office address in say, Nariman Point or Worli.
Regionally though, occupiers are still better off per square foot in Mumbai than if their business were headquartered in Tokyo or Hong Kong. But despite rental prices coming down 20 percent in 2009, this year demand is expected to be "buoyant."
Which is a nice way of advising you to lock your space down before the IT sector starts gathering steam, which Constructionweekonline.in predicts they will by the end of the year. The rate at which the technies buy is key in understanding the Indian office market.
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Listings
- Eat / Inexpensive
Ballard EstatePrice $Britannia Cafe: Eccentric lovely ParsisAs one of the few remaining Parsi restaurants of its kind, the ever popular Britannia draws loyal customers to its obscure location in the business district of Ballard Estate...more - Visit / Business Class
WorliPrice $$$$Four Seasons Mumbai: Beemers and bellinisThe latest addition to the Four Seasons family in the emerging Worli district is helping to make Mumbai a more lavish Asian business destination...more - Visit / Business Class
Marine DrivePrice $$$InterContinental Marine Drive: Not all's quiet on the waterfrontArt deco seaside luxury in the heart of the city; good for the short business stay and the rooftop bar...more
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