South Mumbai, Nariman Point in particular, is fast losing out as the favoured destination for corporates.
Bandra-Kurla, Andheri-Kurla and Goregaon-Malad, in the suburbs, have emerged as the preferred central business districts (CBD).
According to a study by the Maharashtra Chamber of Housing Industry (MCHI), availability of more than twice the space they enjoyed in south Mumbai at lower prices has prompted corporates to move towards suburban Mumbai.
Another reason for this trend is the amendment to the Rent Control Act, which resulted in leave and licence fees going up in the southern Mumbai.
