The city’s office space occupiers will face upward revisions in rents in the coming years, said a report. “Compared to Q2 2015 when Mumbai’s rental values had bottomed out, the city will now start to see acceleration in its rental value growth from Q2 2016,” it said. The research tracks rents (in local currency) for prime Grade-A office spaces in several cities’ Central Business District (CBD) (or their equivalent) across the globe. It then puts these cities on a ‘rental clock’ representing the cyclical nature of office rents. In Mumbai, Bandra Kurla Complex is the de-facto CBD. “The original CBD of Nariman Point long lost out to newer micro-markets due to the evolving needs of occupiers, which it has not been able to provide,” said the report.
Read more: Economic Times
