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Office rents soar in India

Demand for office space in Mumbais Bandra Kurla complex is so high that new tenants are reportedly paying almost 100% more in rentals now than they would have done a year ago.

The Bandra-Kurla complex is a commercial complex in the suburbs of the Indian city of Mumbai. According to MMRDA, it is the first in the series of new growth centres planned in the area.

Office development in the area has reached fever pitch, with developers scouting for residential re-development opportunities in Bandra East, reportedly offering significant premiums to purchase older flats.
Rental prices have also reportedly increased in nearby Kalina.

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