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Nariman Point fetches highest rentals and Manhattan out of race

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All major Indian companies are now eyeing to establish their mark in the commercial capital of India and Mumbai having great scope for the business from the beginning is preserving its charm and if the revealed sources with the www.propertykhazana.com are to be believed then with the foray of major companies to Mumbai the commercial rentals are soaring and the exchange of rupee increasing is also an added factor pushing the realty prices in Mumbai.
Areas like Nariman Point and Bandra Kurla Complex are fetching higher rentals which are almost 1.5 times more than Manhattan. Knight Frank is paying USD 55 per Sq.Ft for 1 Lakh Sq.Ft of commercial space and additional USD 90 per annum in Mumbai. Close proximity to BKC, Nariman point is earning good rentals, said Mr. Pranav Vakhil, the Chairman of Kinight Frank India to the www.propertykhazana.com. As per the survey reports the average rental in Manhattan area stands @ USD 60 and the boom kicked off when Lehman Bros leased a commercial property in Bandra Kurla Complex at Rs. 400 PSF, added Mr. Vakhil.
Meantime, it is to be noticed here that the rentals ever exceeded USD 30 earlier and the situation went totally unpredictable in the past 2 years and speaking at the www.propertykhazana.com Cushman & Wakefield said that the average commercial rental in Manhattan was around USD 53 PSF and presently the commercial rentals in Manhattan is fetching around USD 64 PSF.
Source: NBTVLIVE

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