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Mumbai Sees Healthy Office Demand Office absorption rose in Mumbai through 2012 despite occupier caution. Demand has been driven by the Banking, Financial services, Insurance and IT industries. We anticipate healthy occupier demand in 2013. The Andheri, BKC and Lower Parel submarkets will be the preferred destination for occupiers, due to an availability of Class A space. While the most desirable space may command a premium due to limited supply, overall rents across the market will remain unchanged.