Mumbai slipped from the 6th position globally in 2007 to the 10th position in 2014 for office rental prices due to delays in India's economic recovery and lack of business confidence. Mumbai currently has the lowest office rental prices among the top 15 global cities at Rs. 250 per square foot per month, compared to Rs. 900 in London and Rs. 360 in New York. Office rentals in Mumbai are expected to grow by 15% over the next five years due to improved sentiment. The report also notes that commercial retail and office space currently has twice the supply of actual demand, and this excess inventory will likely be sold off by 2016, with a boom in commercial space expected by 2018.

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24. Mumbai slips to 10th position in terms of rentals
Mumbai which ranked sixth among global cities in 2007, slipped to the 10th position in
2014 mainly due to delayed revival of the Indian economy and lack of business
confidence. Among the top 15 global cities, office rentals in Mumbai are lowest at Rs
250 per square feet per month, compared to London and New York which stand at Rs
900 square feel and Rs 360 per square feet respectively,
The city's office rentals are expected to grow by nearly 15 per cent over the next five
years due to "improved sentiment," the report said. MNCs accounted for 35% of total
commercial asset sales in the country in the first three months of 2014,
COMMERCIAL RETAIL OFFICE HAVE 2 TIMESSUPPLY THE ACTUAL DEMAND
WILL SEE CURRENT INVENTORY TO BE SOLD BY 2016.
2018 WILL SEE BOOM IN COMMERCIAL SPACE
SUNIL SETH KAKKAD
9820614117