Constructions & Real Estate

Office Rentals In Mumbai Double March 4, 2010

Tokyo continued to command the highest office rents in the world during 2009. Although Mumbai does not figure in the top ten global office rentals, its rentals are sometimes twice those of Manhattan. For instance if space opposite the Grand Central Station in Manhattan is in the vicinity of $3 to $4 (Rs 138 to Rs 184) a square foot a month, some of the commercial space in the Bandra-Kurla Complex command as much as $7 (Rs 322) a square foot every month, according to Knight Frank.Despite the global meltdown, office rentals all over the world are expected to hold firm or increase in 2010, according to global property consultancy firm Knight Frank’s annual projection for the year.