Mumbai: rental value of offices in Mumbai, the commercial capital, it came to a steady decline in the range from 3 percent to 11 percent for the quarter ended 30 June, the report said BNP Paribas Real Estate.
Rentals in central business district of Nariman Point facilitates 3per interest of Rs 280 per sqm per month, while Ballard real estate fell by 10 per cent to Rs 180 per sqm per month. In the case of a long business district, in Lower Parel rent fell by 3 per cent to Rs 150 per sqm per month, and 2 percent in Worli Rs 245 per square meter per month. In the Bandra-Kurla complex, an alternative central business district, rents slid 7 per cent from Rs 285 per sqm per month, the report showed.
Quarter, a decline in the transaction space between the micro-markets of Mumbai, both in terms of number of transactions and the amount of space that pogloscheno.Nizkoy activity of commercial real estate transactions has been a downward pressure on rents and capital gains performed in most micro-markets of the city, the report said.
"The Reserve Bank index of business confidence in India has been a slowdown seen in the next quarter, if the same is the demand for office space will probably not pick up, leading to further downward pressure on rental values of micro-markets in the coming quarters," BNP Paribas said.
Most of the micro-markets of Mumbai saw the consolidation of office space to renegotiate or extend existing leases during the quarter.
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