Nariman Point's revival: Office rents expected to nearly double by 2030

Office rents in Nariman Point, one of Mumbai's most iconic commercial hubs, are set to nearly double by 2030, according to a new report by real estate consultancy Knight Frank..

The report, titled 'South Mumbai A Renaissance', attributes this expected surge to ongoing infrastructure improvements and rising demand for premium office space in the area.. Currently, office space rents at Nariman Point stand at Rs 569 per sq ft..

The report estimates that South Mumbai will add 4 to 6 million sq ft of mixed-use office space over the next 6 to 8 years, benefiting areas like Nariman Point..

This rebound is driven by both an increase in demand for premium office spaces in traditional business districts and upcoming infrastructure projects that are enhancing Nariman Point's connectivity and appeal, the report noted...

The convergence of enhanced infrastructure and a strong residential market strengthens Nariman Points standing as a premier commercial hub, creating promising opportunities for investors and businesses alike..