No room at Ceejay House, but rents off a third in 6 years

Apr 29 2014, 01:15 IST
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SummaryCeejay House, which once commanded the highest rents in Mumbai, is today far more affordable.

& Wakefield Research says, while at a pan-India level it was around 20% in 2013, up from 19% in 2012.

Mumbai had 47 million sq ft of office space at the end of 2008, which has more than doubled to 102.7 million sq ft at the end of 2013, data sourced from Knight Frank India show. The quantum of office space grew on an average by 17% year-on-year between 2008 and 2013. However, the growth rate fell to 8% in 2013 as new office space completions fell by a sharp 37% to 7.6 million sq ft in 2013 from 12 million sq ft of office space completions in 2012.

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