Rental Insight Q3 2016
India | Office Nov 18, 2016
Mumbai Average Rental Trend for Grade A Properties
Grade A Rental Values Micro Markets
INR
$ US
Percentage Change
Per sq ft/Month CBD
Q-o-Q
Y-o-Y
200 - 250
3 - 3.8
0%
0%
90 - 130
1.4 – 2.0
0%
0%
BKC
225 - 320
3.4 - 4.8
0%
0%
Lower Parel
145 - 190
2.2 - 2.9
0%
0%
Malad
80 - 100
1.2 - 1.5
0%
0%
Navi Mumbai
70 - 100
1.2 - 1.5
0%
0%
Powai
120 - 130
1.8 – 2.0
0%
0%
Worli/Prabhadevi
180 - 210
2.7 - 3.2
0%
0%
Goregaon / JVLR
120 - 140
1.8 - 2.1
0%
24%
Kalina
150 - 220
2.3 - 3.3
0%
6%
Thane
70 - 90
1.2 - 1.4
19%
19%
130 - 150
2.0 - 2.3
0%
-
Andheri East
LBS
INR per sq ft per month 300
Forecast 250
200
150
100
50
0 2009 2010 2011 2012 2013 2014 2015 2016F 2017F 2018F 2019F Note: Above graph represent rental trends of Grade A Non IT/ITeS buildings only
Note: 1 US$= INR 66.60 (US Dollar rate as on 30/9/2016) Above table represents rental range of Grade A non IT/ITeS buildings only
Supply, Absorption & Vacancy Trends 12.0
Market Transactions Client
25%
Forecast
Building Name
Area (sq ft)
Location
Transaction Type
130,000
Airoli
Lease
10.0
20%
8.0
UBS
Gigaplex
15% 6.0
Teva Pharmaceutical Commerz II Industries Tata Crescenzo Communications
10%
125,000
Goregaon
Lease
100,000
BKC
Lease
4.0 5%
2.0 0.0
Danher
Phoenix Marketcity
75,000
Kurla West
Lease
Springboard91
Akruti Trade Center
46,000
Andheri East
Lease
Note: Above table represents indicative transactions concluded during Q3 2016
0% 2010 2011 2012 2013 2014 2015 2016F 2017F 2018F 2019F Absorption (In Mn sqft)
New Supply (In Mn sqft)
Vacancy (In %) Note: Above graph represents both Non IT/ITeS and IT/ITeS Grade A properties
For research related information contact
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Surabhi Arora Senior Associate Director | Research Surabhi.arora@colliers.com
George McKay South Asia Director | Office Services George.mckay@colliers.com
Tel: 0124-4567580
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Ravi Ahuja Executive Director | Office Services Ravi.ahuja@colliers.com
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