Nariman Point: A Revitalized Commercial Hub in Mumbai

Nariman Point in Mumbai sees a 52% rise in office rents to Rs 569 per square foot since 2018, with projections of 90% growth by 2030. Infrastructure improvements are driving a commercial renaissance, enhancing the area's appeal for businesses and investors, as reported by Knight Frank India.

In a notable development, office rent at Nariman Point in Mumbai has surged to Rs 569 per square foot, marking a 52% increase since 2018, as stated in a report by real estate consultant Knight Frank India. The report forecasts an impressive 90% growth in rentals by 2030, fueled by strong demand.

On Thursday, Knight Frank India unveiled 'South Mumbai -- A Renaissance', a detailed report that underscores the transformative power of ongoing transit-related infrastructure enhancements, vital to revived interest in South Mumbai. These infrastructural updates significantly bolster the area's appeal to both businesses and investors, the report highlights.

The resurgence of Nariman Point as a premier commercial district can be attributed to elevated infrastructure and strong residential market synergies, according to Shishir Baijal, Chairman & Managing Director of Knight Frank India. As infrastructure continues to spur economic growth, an influx of companies is expected, driving Nariman Point's long-term commercial viability.

(With inputs from agencies.)