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Property Transition
Mumbai
Mumbai – The New York of India!
Mumbai is a thriving city and is a forerunner in setting trends, the real estate market being no exception. Most corporates prefer to set up their head offices in Mumbai. Additionally, the large-scale increasing investments by numerous MNCs in the IT/ITES sector and the back office operations centers have incited the demand for office space creating an imbalance in the demand and supply for residential properties.

Thriving Real Estate Scenario
The Mumbai property market is the largest real estate market in India. Mumbai real estate has shown a phenomenal growth of 24% in the past few years in residential complexes and properties. The current upward trend in the real estate market has triggered off an increase in the supply of residential properties in Mumbai. Suburbs have emerged as the preferred location for development of large residential townships and the demand for the same is fuelled by easy availability of home loans.

Mumbai - South Mumbai Property Rates

Location

Residential

Commercial

Colaba

18000 - 35000

11000 - 45000

Cuffe Parade

19500 - 31000

21000 - 55000

Nariman Point

7500 - 9000

7000 - 14000

Churchgate

7500 - 9000

11000 - 16000

Marine Lines

6000 - 9000

9000 - 18000

Fountain Area

4000 - 5500

5500 - 9000

Ballard Estate

4000 - 7000

8000 - 14000

Kalbadevi

4500 - 7500

4000 - 7500

Byculla

4000 - 11000

5500 - 12000

Girgaum

5500 - 6500

5000 - 8000

Marine Drive

8000 - 23000

11000 - 26000

Opera House

5500 - 12000

18000 - 32000

Malabar Hill

14000 - 39000

10000 - 45000

Neapean Sea Road

14000 - 39000

10000 - 49000

Warden Road

7000 - 16000

10000 - 17000

Peddar Road

8500 - 14000

9000 - 15000

Worli

6500 - 16000

11000 - 26000

Prabhadevi

6000 - 11000

7500 - 15000

Parel

4500 - 6000

6500 - 17000

Dadar

4500 - 6000

5500 - 9000

Mahim

3000 - 5500

3500 - 9000


Commercial Real Estate Growth
Mumbai's commercial real estate market has appreciated considerably over the last one year. Commercial property prices in Mumbai have exceeded over 100% in the past year driven by limited new supply particularly in prime areas such as Worli and South Mumbai. In Nariman Point, commercial property prices are around Rs.25, 000 per sq.ft

Rents in South Mumbai (CBD) for Prime and Grade A office space are up by 73% while capital values are up by 51% vs. 12 months ago. In the suburban Bandra Kurla complex, rentals are up by 132% and capital values are up by 115% over a year. Cuffe Parade and Malabar Hill continue to spearhead others with highest capital values ranging between INR 40,000 to 50,000 per sq ft. Cuffe Parade and Malabar Hill continue to spearhead others with highest capital values ranging between INR 40,000 to 50,000 per sq ft.

Commercial Real Estate Growth in Mumbai


The IT, ITES, BPO businesses in Mumbai have taken up at least 10.00Lacs sq.ft of Commercial Space by the top MNC’s Like JP Morgan, Morgan Stanley, IBM, Citibank, Accenture, Deloitte, Reliance, Tata’s etc thus favouring Mumbai to any other city today. In Mumbai alone, around 1.6 million square feet of mall space is under construction.

Thus, Mumbai is not only the leader in the financial and business sector, but also is a trend-setter when it comes to real estate and the Mumbai market is booming. It is the ideal and gainful choice for all real estate investors.
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