Mumbai's Infrastructure Boom: Nariman Point Rents Soar by 52% Outpacing BKC
South Mumbai's iconic Nariman Point is witnessing a remarkable surge in office rentals, outpacing other key business hubs. Will you consider purchasing a property this festive season due to attractive real estate schemes?
MumbaiNariman PointReal EstateOffice RentalsInfrastructureReal Estate MumbaiOct 10, 2024
South Mumbai is projected to add 4-6 million square feet of mixed-use office space in the next 6-8 years. Nariman Point’s rents have surged by 52% to ₹569 per sq ft from 2018 to the first half of 2024. This outpaces the rental growth of the Bandra Kurla Complex (BKC), where rents have grown by only 20%.
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Frequently Asked Questions
What is the projected increase in office rentals in Nariman Point by 2030?
Office rentals in Nariman Point are projected to increase from the current ₹569 per sq ft to ₹1,091 per sq ft by 2030.
How much has Nariman Point's rental price increased from 2018 to H1 2024?
Nariman Point’s rental price has surged by 52% to ₹569 per sq ft from 2018 to H1 2024.
What factors are driving the increase in demand for premium office spaces in Nariman Point?
The increase in demand for premium office spaces in Nariman Point is driven by both an increase in demand for traditional business districts and upcoming infrastructure projects that enhance connectivity and appeal.
How much mixed-use office space is projected to be added in South Mumbai in the next 6-8 years?
South Mumbai is projected to add 4-6 million square feet of mixed-use office space in the next 6-8 years.
What are the main challenges in expanding office space supply in South Mumbai?
The main challenges in expanding office space supply in South Mumbai include high land costs and the scarcity of available plots in this prime location.
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