City Report – Mumbai Office Market Q3 2009

The following snapshot has been provided BNP Paribas Real Estate for the Office Market in Q3 2009

• The demand for commercial space in the third quarter (July – September) marginally increased over the second quarter
• Investors are seeking opportunistic buying which can provide them net returns over 12% per annum.
• Availability of 10 million sq.ft. of new, modern supply of office space in Mumbai will keep prices in control.
• Outlook: Downward pressure on rents and capital values at least for the next 6 months.