For years, voices of frustration have echoed across Mumbai as residents contend with the city’s soaring cost of living and steep rental prices. While Bengaluru has emerged as a prominent contender in the real estate sector—often cited as the most expensive city for India’s middle-class population—Mumbai continues to dominate when it comes to property values, rental outlays, and now, office real estate.
With global corporations headquartered in its thriving financial districts and some of the nation’s wealthiest industrialists calling it home, the Mumbai Metropolitan Region (MMR) stands unrivalled as India’s commercial capital. Yet, it is no longer the only city in the spotlight. Several emerging Tier-2 cities and high-growth urban centres are fast climbing the real estate ladder.
Among India’s top six most expensive cities for office space in 2025, MMR unsurprisingly leads the pack. However, the scale of the price surge still manages to shock. Average commercial rental rates have jumped by nearly 28%, reaching approximately Rs 168 per square foot per month. This dramatic increase firmly secures MMR’s status as the most expensive office market in the country.
Prime business locations such as Bandra-Kurla Complex (BKC) and Nariman Point are at the heart of this trend, commanding the highest rents. Their premium pricing is driven by the concentration of multinational banks, global corporations, and upscale commercial towers, making them the epicentre of high-value business activity in India.
As demand for quality office space continues to rise, particularly in Mumbai’s financial hubs, the city reinforces its position not only as the financial capital of the country but also as the costliest one for corporate real estate.
Source: Trade Brains
