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4th Quarter 2009 – REMMA Publications ® |
Our Fourth Quarter Newsletter, Updates You On Prices And Industry Trends, And as We Predicted We’re Seeing A Surge In Mumbai Metro Residential Values, Among Quality Builders, While Commercial Prices Remain Soft And Inventory Easily Accessible. This Presents Two Opportunities: Residential, New Product Opportunities In Residential Realty, Bolstered By Low Long Term Interest Rates And A Growing Economy And In Commercial, An Opportunity To Establish 5-7 Year Cost Reductions In Leasing And Infrastructure Costs By Taking Advantage Of The Inventory And Relatively Soft Market In Commercial Real Estate. Both Present Opportunities To Take Advantage Of The Volatility In The Market.
NO Fee New Development Residential Service Sets and Standard in the Industry
Our NO FEE on New Residential Purchase Service sets a new standard as several new corporate entries are now providing the same transparent, ethical real estate transactions service practice. At REMMA though, our customers get much more, including up to date reports, newsletters, a market landscape and “tracking sheets” with transparent pricing of all of the available options per individual requirements. Moreover, quality, value, professionalism, are part of our corporate mission within our transaction services practice.
Location Preferences and the Changing Landscape of Mumbai: Powai and Dahisar and Panvel
The timing may be right to start looking at new product, within the value areas of Mumbai, such as Powai and Dahisar. We believe that the Powai area provides tremendous high quality/value product, within a 30 minute plus commuting range to the new epicenter of business, Bandra Kurla Complex. Moreover, an early morning Eastern Express Highway shoot to South Mumbai pre – 8AM, can be a 45 minute drive but, make sure that you head back from by 2.30 PM and you should be back in your office within an hour and 15 minutes (our opinion only).
Dahisar has an opportunity to become a commutable location to Andheri and beyond, new business corporate locations, with excellent, very affordable product, from top notch builders. Worth taking a looking at – contact our professionals today for further details.
Panvel presents a picture, to be developed, with the completion of the new international airport, wherein, the subsequent commercial build out will provide a need for quality residential and commercial inventory. Several well known builders are building luxury product in the area, which we believe may be good lifestyle products for employees who will work within this new commercial hub. That being said, product inventory, newly available, may present good value opportunities.
Contact us today, and we’d be happy to assist you in considering all of these “value” areas.
Rental Values: A very bullish medium term picture barring legal and tax legislative changes
We are seeing an upward trend in Rental Values, with growth in employment and the lack of available reasonably priced housing within commutable areas, rental values having seen a sudden and likely sustainable spike, bolstered by the new found legal and cultural acceptance of renting. We would not be surprised, given the long term demand and employment picture, if we see the notion of large scale New York style Rental Management Firms, emerge in the Mumbai market, unpredictable municipal regulations and new taxes notwithstanding. REMMA’s rental services now caters to many of the premier professional services firms in Mumbai. Check with your HR professional about our Employee Programs with your firm.
Commercial Leasing: Largely an unnoticed opportunity but critical to long term operating costs
If you have the opportunity, this is clearly the market to ratchet down your medium term costs by looking at suburban location preferences or negotiating down renewal rates on existing leases. This could easily be the most under rated opportunity in the market. Moreover, considering the availability of new inventory in the BKC to Kalina to the Vikhroli area, it may be time to make the move toward either an upgrade in space and facilities or make the move for the purpose of bringing down medium term operating costs. Moreover, the likelihood that your employees will find reasonable commutable housing will be significantly enhanced with such a move, as Mumbai professional will seek quality of life preferences including a reasonable commute, when deciding between employers of equal repute.
Facilities Services: A trend that is likely to continue
Our own REMMA FM practice in Bangalore is experiencing tremendous growth, while focusing largely on the foreign segment, even highly reputed domestic segment firms seek a less risky solution to their facilities services needs, including “soft” services such as office cleaning, food and landscaping and “hard” services such as electrical, plumbing, and computer hardware related services. Increasingly, Commercial lessees are going to find that Grade B buildings with the addition of single tenant FM services will provide much lower medium term cost opportunities which are clearly scalable and more flexible than highly services Grade A buildings.
Relocation involves research and our professionals and analysts provide the type of research, written, clear, transparent, that even involves helping clients find suitable transportation, schools and other intangibles, as they (whether company or professional) make largely cost/lifestyle/investment decisions about their life -- We hope to be a trusted partner for a lifetime.
For more individual reports, questions or comments on our newsletter, please feel free to call us at 22 40158889 or email us at support@remmaconsulting.com. For Mumbai specific market information, research, newsletters and customized tracking reports, please feel to write Mumbai@remmaconsulting.com. |
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| Mumbai Residential Property Rates - Sale - (Latest and Updated) |
Location |
'A' Grade Bldg. |
'B' Grade Bldg. |
'C' Grade Bldg. |
Cuffe Parade / Colaba |
Current Rates |
Rs.48,000 - 65,000* |
Rs. 25,000 - 30,000 |
Rs. 20,000 - 22000 |
|
Marine Drive / Nariman Point |
Current Rates |
Rs. 60,000 - 70,000
(NCPA Only) |
Rs. 22,000 - 27,000 |
Rs. 18,000 - 20,000 |
|
Malabar / Cumballa Hill |
Current Rates |
Rs. 40,000 -70,000* |
Rs. 22,000 - 35,000 |
Rs. 20,000 - 24,000 |
|
Napean Sea / Warden Rd. |
Current Rates |
Rs. 40,000 -70,000* |
Rs. 22,000 - 35,000 |
Rs. 20,000 - 24,000 |
|
Worli |
Current Rates |
Rs. 30,000 - 45,000* |
Rs. 20,000 -30,000 |
Rs.18,000 - 20,000 |
|
Prabhadevi |
Current Rates |
Rs. 20,000 - 26,000 |
Rs. 16,000 - 19,000 |
Rs. 13,000 - 16,000 |
|
Bandra |
Current Rates |
Rs. 20,000 - 30,000 |
Rs. 15,000 - 18,000 |
Rs. 13,000 - 16,000 |
|
Khar / Santacruz |
Current Rates |
Rs. 16,000 - 19,000 |
Rs. 14,000 - 16,000 |
Rs. 11,000 - 13,000 |
|
Juhu |
Current Rates |
Rs. 14,000 - 22,000
(Sea facing) |
Rs. 10,000 - 12,000 |
Rs. 7,500 - 9,000 |
|
Lokhandwala / Versova |
Current Rates |
Rs. 12,000 - 16,000 |
Rs. 9,000 - 12,000 |
Rs. 6,500 - 8,500 |
|
Powai |
Current Rates |
Rs. 6,000 - 9,000 |
Rs. 5,000 – 6,500 |
Rs. 3,000 – 4,500 |
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Mumbai Residential Property Rates - Rent (Latest and Updated)
Rates mentioned below are in Indian Rupees. On per sq.ft. basis. |
Location |
No. of Bedrooms |
RENT PACKAGE
'A' Grade Bldg. |
RENT PACKAGE
'B' Grade Bldg. |
RENT PACKAGE
'C' Grade Bldg. |
SOUTH MUMBAI
'CUFFE PARADE TO WORLI |
4 |
Rs.4,00,000 - 7,20,000 |
Rs.2,80,000 - 5,00,000 |
Rs.2,00,000 – 2,80,000 |
3 |
Rs.3,00,000 - 5,00,000 |
Rs.2,00,000 - 4,00,000 |
Rs.1,70,000 - 2,50,000 |
2 |
Rs. 2,25,000 – 3,25,000 |
Rs. 1,75,000 - 2,25.000 |
Rs. 90,000 – 1,50,000 |
BANDRA |
4 |
Rs. 3,00,000 - 8,00,000 |
Rs. 2,75,000 - 4,50,000 |
Rs.1,75,000 - 2,20,000 |
3 |
Rs.2,00,000 - 500,000 |
Rs.1,50,000 - 2,00,000 |
Rs.75,000 - 1,30,000 |
2 |
Rs.60,000 - 1,20,000 |
Rs.30,000 - 60,000 |
Rs.25,000 - 40,000 |
KHAR -
SANTACRUZ |
4 |
Rs.2,50,000 - 4,50,000 |
Rs.1,50,000 - 3,00,000 |
Rs.1,00,000 - 1,75,000 |
3 |
Rs.2,00,000 - 4,00,000 |
Rs.1,00,000 - 2,20,000 |
Rs.75,000 - 1,25,000 |
2 |
Rs.60,000 -80,000 |
Rs.30,000 - 50,000 |
Rs.20,000 - 40,000 |
JUHU
|
4 |
Rs.3,00,000- 7,00,000 (sea front) |
Rs.1,50,000 - 2,50,000 |
Rs 80,000 - 1,30,000 |
3 |
Rs.2,00,000 - 3,50,000 |
Rs.1,20,000 - 2,00,000 |
Rs.1,00,000 - 1,30,000 |
2 |
Rs.60,000 - 80,000 |
Rs.40,000 - 60,000 |
Rs.25,000 - 40,000 |
ANDHERI [W]
|
4 |
Rs.1,00,000 - 2,00,000 |
Rs.70,000 - 1,00,000 |
Rs.40,000 - 60,000 |
3 |
Rs.70,000 - 1,30,000 |
Rs.40,000 - 80,000 |
Rs.30,000 - 50,000 |
2 |
Rs.30,000 - 60,000 |
Rs.20,000 - 30,000 |
Rs.15,000 - 20,000 |
ANDHERI [E]
|
4 |
Rs.60,000 - 1,20,000 |
Rs.50, 000 - 70,000 |
Rs.30,000 - 40,000 |
3 |
Rs.40,000 - 55,000 |
Rs.25,000 – 35,000 |
Rs.20,000 - 30,000 |
2 |
Rs.15,000 - 25,000 |
Rs.13,000 - 18,000 |
Rs.10,000 - 15,000 |
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| Commercial Property Rates – RENTALS |
Location |
Grade A Building |
Grade B Building |
Grade C Building |
|
Rent |
Deposit |
Rent |
Deposit |
Rent |
Deposit |
Nariman Point – Furnished |
Rs. 400 – 450 |
6-12 months |
Rs.325 – 350 |
6-12 months |
Rs. 275 – 300 |
6-12 months |
Nariman Point – Unfurnished |
Rs. 350 – 375 |
6-12 months |
Rs. 300 – 325 |
6-12 months |
Rs. 225 – 250 |
6-12 months |
Worli/Prabhadevi/ Lower Parel – Furnished |
Rs. 225 – 275 |
6-12 months |
Rs. 200 – 225 |
6-12 months |
Rs.175 – 200 |
6-12 months |
Worli/Prabhadevi/ Lower Parel – Unfurnished |
Rs. 185– 250 |
6-12 months |
Rs. 175– 225 |
6-12 months |
Rs. 125 – 150 |
6-12 months |
Bandra/Khar/ Santacruz – Furnished |
Rs 225 – 250 |
6-12 months |
Rs. 200 – 225 |
6-12 months |
Rs. 150 - 175 |
6-12 months |
Bandra/Khar/ Santacruz – Unfurnished |
Rs.200 – 250 |
6-12 months |
Rs. 175 – 200 |
6-12 months |
Rs. 125 - 150 |
6-12 months |
Bandra Kurla Complex – Furnished |
Rs. 300 – 350 |
6-12 months |
Rs. 250 – 275 |
6-12 months |
Rs. 175 – 200 |
6-12 months |
Bandra Kurla Complex – Unfurnished |
Rs. 240 – 340 |
6-12 months |
Rs. 200 – 275 |
6-12 months |
Rs. 130 – 175 |
6-12 months |
Kalina/Vakola – Furnished |
Rs. 225 – 250 |
6-12 months |
Rs. 175 – 225 |
6-12 months |
Rs. 125 - 160 |
6-12 months |
Kalina/Vakola – Unfurnished |
Rs. 200 – 250 |
6-12 months |
Rs. 170 – 225 |
6-12 months |
Rs. 100 - 170 |
6-12 months |
Andheri West – Furnished |
Rs 190 - 275 |
6-12 months |
Rs. 125 – 170 |
6-12 months |
Rs.90 – 125 |
6-12 months |
Andheri West – Unfurnished |
Rs.125 – 150 |
6-12 months |
Rs.100 – 125 |
6-12 months |
Rs. 80 – 100 |
6-12 months |
Andheri East – Furnished |
Rs. 170 – 250 |
6-12 months |
Rs. 125 – 155 |
6-12 months |
Rs. 100 – 125 |
6-12 months |
Andheri East – Unfurnished |
Rs. 150 – 210 |
6-12 months |
Rs. 110 – 140 |
6-12 months |
Rs. 70 – 90 |
6-12 months |
Jogeshwari to Borivali – Furnished |
Rs. 100 – 140 |
6-12 months |
Rs. 90 – 110 |
6-12 months |
Rs. 70 – 90 |
6-12 months |
Jogeshwari to Borivali – Unfurnished |
Rs. 100 – 125 |
6-12 months |
Rs. 80 – 100 |
6-12 months |
Rs.50 – 60 |
6-12 months |
LBS Road, Bhandup to Mulund – Furnished |
Rs. 90 – 125 |
6-12 months |
Rs. 75 – 110 |
6-12 months |
Rs. 50 – 80 |
6-12 months |
LBS Road, Bhandup to Mulund – Unfurnished |
Rs. 60 – 90 |
6-12 months |
Rs. 50 – 80 |
6-12 months |
Rs. 40 – 55 |
6-12 months |
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| Commercial Property Rates : Outright |
Location |
'A' Grade Bldg. |
'B' Grade Bldg. |
'C' Grade Bldg. |
Nariman Point |
Rs.29,000 - 45,000 |
Rs.22,000 – 28,000 |
Rs.20,000 – 22000 |
Worli / Prabhadevi / Lower Parel |
Rs.20,000 – 25,000 |
Rs.16,000 – 20,000 |
Rs.11,000 –16,000 |
Bandra / Santacruz / Khar |
Rs.16,000 – 22,000 |
Rs.12,000 - 18,000 |
Rs.10,000– 15,000 |
Bandra Kurla Complex |
Rs.25,000 – 36,000 |
Rs.20,000 - 25,000 |
Rs.15,000– 20,000 |
Kalina / Vakola |
Rs.21,000 – 27,000 |
Rs.16,000 – 22,000 |
Rs.12,000– 16,000 |
Andheri (E) |
Rs.12,000 – 18,000 |
Rs.10,000 – 14,000 |
Rs. 7,000 – 9,000 |
Andheri (W) |
Rs.15,000 – 21,000 |
Rs.10,000 – 14,000 |
Rs.7,000 – 9,000 |
Jogeshwari to Borivali |
Rs.8,000 – 12,000 |
Rs.6,000 – 8,000 |
Rs.5,000 – 6,000 |
LBS Road – Bhandup to Mulund |
Rs.8,000 – 12,000 |
Rs.6,000 – 9,000 |
Rs.4,000 – 8,000 |
Navi Mumbai |
Rs.6,000 – 8,000 |
Rs.4,000 – 6,000 |
Rs.3,000 – 4,000 |
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| Rental Details in Chennai (Minimum Rate) |
SR.No. |
Place Name |
IBHK |
2BHK |
3BHK |
4BHK |
Commercial |
IT SPACE |
1 |
Abiramapuram |
1000.00 |
15000.00 |
20000.00 |
25000.00 |
35 / 52 Sqft |
45/ Sqft |
2 |
Adyar |
5000.00 |
10000.00 |
15000.00 |
25000.00 |
30 / Sqft |
40/ Sqft |
3 |
Alwarpet |
Nil |
15000.00 |
25000.00 |
40000.00 |
35/ Sqft |
45/ Sqft |
4 |
Anna Nagar |
7000.00 |
12000.00 |
15000.00 |
30000.00 |
25/ Sqft |
35/ Sqft |
5 |
Ashok Nagar |
5000.00 |
8000.00 |
12000.00 |
20000.00 |
20/ Sqft |
35/ Sqft |
6 |
Besant Nagar |
10000.00 |
18000.00 |
25000.00 |
30000.00 |
30/ Sqft |
Nil |
7 |
Besant Nagar Sea side |
Nil |
25000.00 |
30000.00 |
40000.00 |
|
|
8 |
Chetpet |
6000.00 |
15000.00 |
25000.00 |
30000.00 |
30/ Sqft |
45/ Sqft |
9 |
ECR (East coast Road) |
5000.00 |
10000.00 |
15000.00 |
40000.00 |
30/ Sqft |
40/ Sqft |
10 |
Egmore |
5000.00 |
10000.00 |
15000.00 |
25000.00 |
30/ Sqft |
45/ Sqft |
11 |
Gopalapuram |
10000.00 |
20000.00 |
30000.00 |
45000.00 |
30/ Sqft |
50/ Sqft |
12 |
Guindy |
5000.00 |
12000.00 |
18000.00 |
20000.00 |
25/ Sqft |
50/ Sqft |
13 |
K.K. Nagar |
5000.00 |
10000.00 |
15000.00 |
25000.00 |
20/ Sqft |
40/ Sqft |
14 |
Kilpauk |
10000.00 |
20000.00 |
27000.00 |
40000.00 |
30/ Sqft |
45/ Sqft |
15 |
Kodambakkam |
7000.00 |
15000.00 |
20000.00 |
30000.00 |
30/ Sqft |
45/ Sqft |
16 |
Kolathur |
3000.00 |
10000.00 |
15000.00 |
20000.00 |
20/ Sqft |
35/ Sqft |
17 |
Kotturpuram |
8000.00 |
15000.00 |
25000.00 |
35000.00 |
30/ Sqft |
35/ Sqft |
18 |
Mandaveli |
10000.00 |
15000.00 |
25000.00 |
40000.00 |
35/ Sqft |
45/ Sqft |
19 |
Mugappeir |
5000.00 |
15000.00 |
20000.00 |
25000.00 |
30/ Sqft |
45/ Sqft |
20 |
Mulapore |
10000.00 |
15000.00 |
25000.00 |
35000.00 |
35/ Sqft |
45/ Sqft |
21 |
Nandanam |
8000.00 |
15000.00 |
25000.00 |
35000.00 |
30/ Sqft |
45/ Sqft |
22 |
Neelankarai |
5000.00 |
10000.00 |
20000.00 |
30000.00 |
20/ Sqft |
35/ Sqft |
23 |
Nungambakkam |
10000.00 |
15000.00 |
25000.00 |
40000.00 |
35/ Sqft |
55/ Sqft |
24 |
Porur |
6000.00 |
10000.00 |
15000.00 |
20000.00 |
20/ Sqft |
35/ Sqft |
25 |
Purasaivakkam |
6000.00 |
13000.00 |
17000.00 |
25000.00 |
35/ Sqft |
45/ Sqft |
26 |
R.A. Puram |
10000.00 |
18000.00 |
25000.00 |
38000.00 |
35/ Sqft |
55/ Sqft |
27 |
Royapetah |
6000.00 |
12000.00 |
18000.00 |
35000.00 |
35/ Sqft |
45/ Sqft |
28 |
Saligramam |
5000.00 |
10000.00 |
15000.00 |
25000.00 |
25/ Sqft |
40/ Sqft |
29 |
Santhome |
8000.00 |
15000.00 |
22000.00 |
35000.00 |
35/ Sqft |
50/ Sqft |
30 |
MRC Nagar |
|
30000.00 |
40000.00 |
60000.00 |
50/ Sqft |
60/ Sqft |
31 |
OMR |
10000.00 |
15000.00 |
20000.00 |
35000.00 |
50/ Sqft |
60/ Sqft |
32 |
T.Nagar |
10000.00 |
20000.00 |
27000.00 |
45000.00 |
40/ Sqft |
55/ Sqft |
33 |
Thiruvanmiyur |
6000.00 |
10000.00 |
20000.00 |
35000.00 |
30/ Sqft |
40/ Sqft |
34 |
Vadapalani |
10000.00 |
15000.00 |
25000.00 |
35000.00 |
35/ Sqft |
45/ Sqft |
35 |
Velacheri |
10000.00 |
15000.00 |
25000.00 |
35000.00 |
40/ Sqft |
55/ Sqft |
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*Rates would vary depending on the difference between carpet and salable area and also on the up keep of the office and building.
*REMMA cannot be held responsible for the accuracy of data displayed in the document. Though the information is deemed reliable, REMMA does not give any guarantees and it should be verified independently. |
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REMMA Services :
The availability of units and prices are subject to change at any time. Prices that are provided do not represent an offer. REMMA offers no warranties and is not responsible for product quality, defects or builder misrepresentations. Builder representations are solely the responsibility of the builder and/or the owner. |
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