Soaring rents in Mumbai leaving Manhattan behind.

Magicbricks.com Moderator says: Mumbai, the Financial Capital of India has always been a favorite destination for big business conglomerates, MNCs and financial institutions and various other companies which accommodate high profile office space in India. The increasing demand and limited supply of office spaces have made it the most expensive office market in the country leaving behind many European countries.

The average per sq ft cost in Nariman Point and Bandra Kurla Complex (BKC) is 1.5 times higher than Manhattan. In fact Nariman Point is positioned at the fifth spot in the list of the world’s top ten most expensive office centers. The Bandra - Kurla Complex and Parel rentals have gone up from Rs 200 to Rs 400 per sq ft per month in the last one year. Shortage of premium commercial space and increase in demand has caused a sharp increase in the city by 20-30% over the last quarter.

With such skyrocketing prices of office space, do you think Mumbai will continue to be the commercial hub of the country? Does this mean in the near future new townships such as Navi Mumbai will spearhead the commercial development? Do share with us your views and opinions.

Will multiplex compound Savitri woes?

MagicBricks.com moderator says: Savitri Cinema, a prominent landmark of South Delhi is slated to become a mall and multiplex soon after the High Court cleared its redevelopment. However, residents complain that no attention has been paid to how it will put further pressure on an already weak infrastructure.

Dear reader, what do you think? Should urban planning be imposed as a prerequisite by a court when passing an order that affects quality of life? Please share your views here...