Office space rentals in Mumbai on the rise
Despite an increase in vacancies and low business and investor sentiment, the office rent in various micro markets in Mumbai are still increasing.
The main reason for increase in office space rental is that there is a lack of quality supply in superior locations.
However, there is a basic scarcity of available good-quality, right-sized Grade A office stock within the city’s prime locations.
The new Development Control Regulations (DCR) for Mumbai has encouraged commercial constructions. Moreover, banks, private equity funds and NBFCs (non-banking finance companies) are reluctant to fund speculative construction.
All this has further impacted the incidence and potential for new office space launches. Most of the projects currently nearing completion were conceptualised in 2007 or 2008.
Banks, Commercial constructions, Commercial real estate, Construction, Constructions, Development Control Regulations, Mumbai, Mumbai real estate, office space launches, office space rental, Office spaces, Real estate in India, Realty News
yes the office space for rent in Bangalore and Mumbai are rising
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