India: office rent in Mumbai by sub-market 2022

In the first quarter of 2022, the Bandra-Kurla complex was the most expensive area for renting office space in the Indian city of Mumbai, with a rental rate of around 276 Indian rupees per square foot per month. Navi Mumbai offered office space at the lowest rate of around 67 rupees per square foot per month, among all sub-markets of Mumbai. The average rent for Mumbai office market space was around 138 rupees per square foot per month.

Rent for office spaces in Mumbai in India during first quarter of 2022, by sub-market (in Indian rupees per square foot per month)

Characteristic	Rent in Indian rupees per square foot per month
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Release date

April 2022

More information

Region

India

Survey time period

Q1 2022

Special properties

data pertains to Grade A office buildings.

Supplementary notes

*Central business district includes Nariman point, Ballard estate, Cuffe Parade, Churchgate, Fort.

JVLR stands for Jogeshwari-Vikhroli Link road.

LBS stands for Lal Bahadur Shastri Marg.

Bandra Kurla complex, CBD, and Kalina reflect rents for non-IT developments.

Worli/Prabhadevi, Lower Parel, Goregaon/JVLR, Powai, LBS/Eastern Suburbs,Andheri East, Malad, Thane, and Navi Mumbai reflect rents for IT developments.

One Indian rupee is equal to 0.013 euros and 0.012 dollars (as of September 2022).

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