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Mumbai MarketBeat Reports

22/04/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: The overall gross leasing activity in Mumbai was driven by 1.46 msf. of fresh leasing and 1.38 msf. of renewed leasing. The Captive Sector contributed 23% of quarterly gross leasing volumes, followed by the BFSI and Professional Services with 21%. The sharp decline of COVID cases and lifting of mobility restrictions, office leasing activity is expected to maintain its upward trajectory. 

Residential: The residential sector in Mumbai witnessed the launch of 18,861 units in Q1 2022. Due to the sizeable increase in the number of launches in Thane, extended Western Suburbs, and Eastern Suburban sub-market, y-o-y basis launches were up by 43%. Prominent developers such as Lodha Group, Godrej Properties, Kalpataru Group etc. were the most active in this quarter in terms of launches.

Retail: As government restrictions lifted, Mumbai saw an improvement in leasing activity across prominent malls in Q1 2022. Overall city mall vacancy dropped to 9.20% in this quarter from 9.62% in the previous quarter. As the demand for quality retail space remains intact along with significant improvement in footfalls remain, leasing momentum and drop in vacancy is expected to continue.

Learn more by clicking our most recent Mumbai MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Mumbai Office Report

In the first quarter Mumbai saw a 20% q-o-q growth and a 16% expansion on a y-o-y basis. Going forward occupiers from the IT-BPM, BFSI and Engineering & Manufacturing are expected to drive office space demand in the upcoming quarters.

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Shopping Retail
Mumbai Retail Report

Retailers from lifestyle brands, accessories, and F&B are driving sustained leasing activity in prominent main streets across Mumbai. Locations like Bandra, BKC, Powai, Andheri, and Navi Mumbai remain preferred destinations amongst the majority of F&B operators.

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Warehouse Internal Rack
Mumbai Residential Report

The sales momentum continued to be robust in Mumbai with homebuyers moving ahead with transactions owing to the increase in stamp duty. The mid and affordable segments contributed nearly 86% of new launches in Q1 2022.

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Warehouse Internal Rack
India Investment Report

Besides the slow rate of growth at 5.4% y-o-y, the Indian economy remained the fastest-growing major economy globally in Q1 2022. This quarter also recorded a private equity investment of INR 57.9 bn., a decline of 38.4% q-o-q but with a promise of picking up pace in coming quarters.

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Warehouse Internal Rack
Mumbai Industrial Report

Mumbai witnessed healthy leasing activity in H2 2021 however, the overall space take-up in the second half of 2021 was lower compared to that in H1 2021. And continued demand from data center operators is expected to further drive land rates higher in the near future.

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