Office: Gross leasing volume stood at 1.78 msf, a growth of around 80% q-o-q in Q3 2020, as Mumbai opened after the lockdown and corporates started their offices in line with guidelines issued by the government.
Retail: By the end of H1 2021, mall rents may bounce back to existing levels, if recovery remains on track. Main street rents remained unchanged with similar discounts/correction as seen in the previous quarter.
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Rents across all submarkets have been stable over the last two quarters, owing to the lockdown and lack of clarity regarding phased reopening of the city and its economy.
Like retail malls, leasing activity at prominent main street locations also saw increased activity as the city has reopened to a greater extent.
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India Office Market Report Q3 2020
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