Nariman Point Fetches the Highest Rental

August 27, 2007	(1 votes, average: 1 out of 5)  Loading ...
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Multinational companies have made a beeline for acquiring commercial space in Mumbai. None of the constraints seem to deter them from carving out a substantial niche in the city.

The recent lease transaction done by the ABN AMRO Bank is believed to be the most expensive in India. The Bank has renewed its lease agreement for commercial space located on the third floor of 12-storey Sakhar Bhavan at Nariman Point in Mumbai, at a whopping monthly rental of Rs 500 per sq ft.

The highest deal before this took place in Connaught Circus, New Delhi, for Rs400 per sq ft. As such, a few deals close ion the heels of such ones have taken place in Nariman Point and Bandra-Kurla Complex (BKC). However, this is the first time that the mark of Rs 500 per sq ft has been reached.

As compared to Mumbai, commercial rentals in other cities are hovering around Rs 100 – 400 a sq ft. It is Rs 150-200 per sq ft in Bangalore and Rs 60-100 a sq ft in Hyderabad.

News Published Under:   Mumbai |

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