·The western suburbs consisting of Malad and Goregaon: Rs 70–125 per sq ft per month.
·The eastern suburbs consisting of Powai, Ghatkopar, Vikhroli, Kanjurmarg and Mulund: Rs 60–120 per sq ft per month; and
The suburbs of Thane and Navi Mumbai: INR 60–90 per sq ft per month.
Major Transactions
The major real estate transactions in Mumbai Q4Q07 include:
.Tata AIG pre-leasing 50,000 sq ft (46,47 sqm) in Kotak Tower, Goregaon;
.Morgan Stanley leasing 130,000 sq ft (12,075 sqm) in Interface14 Malad;
.Profax leasing 70,000 sq ft (6,500 sqm) in Ventura Park, Powai; and
.Mastek leasing 16,000 sq ft (1,485 sqm) in ML Tower, Navi Mumbai.
.Lodha IT Park, Kanjurmarg, with a built-up area of 550,000 sq ft (511,000 sqm); and
.The Oberoi Commercial complex, Goregaon, with a built-up area of 550,000 sq ft (511,000 sqm).
Supply
The Mumbai suburban micro real estate market did not witness any completion in 4Q07. All completions, amounting to a total of 804,290 sq ft (74,721 sqm) in 2007, were witnessed in 3Q07. The suburban micro-market will have the highest volume of future supply among all the micro-markets of the city in 2008–2009. We expect the addition of 7.4 million sq ft of office space in the next 12 months in suburban Mumbai. Few of the major projects, which are expected to be operational in next six months, are as follows:
Kotak Tower, Goregaon, with a built-up area of 700,000 sq ft (65,030 sqm);
Millennium Business Park, Mahape, with a built-up area of 2 million sq ft (186,000 sqm);
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