What's a typical lease term in Mumbai?

5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.

How is rent quoted in Mumbai?

In INR/sqft/year. We also publish a USD-normalised view ($46/sqft/yr) for cross-market comparison.

Standard 5-year lease (often 3+2 or 5+5).

Typical lease length: 5 years.
Typical rent-free: 4 months.
Vacancy: 12.6%; trend rising.
Standard 5-year lease (often 3+2 or 5+5).

Mumbai office lease norms

Standard 5-year lease (often 3+2 or 5+5).

TL;DR

Typical lease length: 5 years.
Typical rent-free: 4 months.
Vacancy: 12.6%; trend rising.
Standard 5-year lease (often 3+2 or 5+5).

Structure

Standard 5-year lease (often 3+2 or 5+5). Rent quoted as INR per square foot per month. Maintenance billed separately. Security deposit of 6-12 months standard. Stamp duty payable on lease execution.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

city	Mumbai
country	India
region	APAC
classARentLocal	320 INR/sqft/yr
classARentUsd	$46/sqft/yr
vacancy	12.6%
typicalLeaseYears	5
typicalRentFreeMonths	4
submarkets	4
primeYieldPct	7.5%

Frequently asked questions

What's a typical lease term in Mumbai?: 5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Mumbai?: In INR/sqft/year. We also publish a USD-normalised view ($46/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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