Office rental value in Mumbai in India Q1 2024, by sub-market

Published by Sandhya Keelery, Aug 30, 2024
In the first quarter of 2024, the Bandra-Kurla complex was the most expensive area for renting office space in the Indian city of Mumbai, with a rental rate of around 250 Indian rupees per square foot per month. Navi Mumbai offered office space at the lowest rate of around 73 rupees per square foot per month, among all sub-markets of Mumbai. The average rent for Mumbai office market space was around 156 rupees per square foot per month.

Rent for office spaces in Mumbai in India during first quarter of 2024, by sub-market (in Indian rupees per square foot per month)

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Release date

April 2024

Region

India

Survey time period

Q1 2024

Special properties

data pertains to Grade A office buildings.

Supplementary notes

*Central business district includes Nariman point, Ballard estate, Cuffe Parade, Churchgate, Fort.

JVLR stands for Jogeshwari-Vikhroli Link road.

LBS stands for Lal Bahadur Shastri Marg.

Bandra Kurla complex, CBD, and Kalina reflect rents for non-IT developments.

Worli/Prabhadevi, Lower Parel, Goregaon/JVLR, Powai, LBS/Eastern Suburbs,Andheri East, Malad, Thane, and Navi Mumbai reflect rents for IT developments.

One Indian rupee is equal to 0.013 euros and 0.012 dollars (as of September 2022).

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