Mumbai’s commercial real estate prices have appreciated considerably over the last two years but a new report has is that it has emerged as the fourth most expensive office location in the world, succeeding over Paris, Moscow and New York by quoting a rental of Rs.440/- per square foot.
Mumbai has always been at the forefront of property investment hotspots in India. Recent government initiatives show that the city continues to hold the coveted place with the authority. The Mumbai International Airport Slum Rehabilitation Rrogramme, a facelift for Greater Mumbai and the controversial project of redevelopment of Dharavi, Asia’s largest slum are all in the pipeline. The airport slum rehabilitation project has been bagged by the real estate developer Housing Development and Infrastructure Ltd. (HDIL).They have already won the bid for the Mumbai international airport.
Chennai is the most preferred place for corporate and Multinational Companies due to its expert manpower and outstanding business environment. The upsurge in sectors like the IT and the BPO industry of Chennai has played a vital role in the modification of the commercial real estate market, thus setting it up for the growing demands of the business market.
