http://timesofindia.indiatimes.com/...urla-Complex-rentals/articleshow/16663039.cms
MUMBAI: Grade A buildings in Bandra-Kurla Complex continue to attract corporates and international food chains, despite a 10% dip in commercial property rates.
VISA, a US finance services multinational, expanded its office space last week by leasing 21,000 sq ft at monthly rentals of over Rs 300 per sq ft in 'The Capital' constructed by Wadhwa Developers. Saudi Arabia-based power firm, Global Energy Trading Company, leased 6,000 sq ft space in Maker Maxcity for monthly rent of over Rs 350 per sq ft. Ping Pong, a UK food and beverage chain, took up 7,000 sq ft area on the ground floor of FIFC Tower for monthly rent of over Rs 350 per sq ft. Two restaurants, Yauatcha and Otto Infinito have leased over 4,000 sq ft each in Raheja Towers for monthly rentals of almost Rs 250 per sq ft.
Refusing to comment on the Visa deal that they concluded, Nikhil Bhatia, western head of CBRE said quality office buildings will continue to attract high rentals. "There is shortage of ready Grade-A office space in BKC like 'The Capital'. Hence, existing quality buildings are in high demand," said Bhatia.
Ravi Ahuja, executive director with Cushman and Wakefield, global property consultant said the 10% price drop in office space is due to a demand-supply mismatch