Bangalore ($1/sqft, 14.2% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Bangalore on talent depth and Mumbai on rent and tax.
Bangalore ($1/sqft, 14.2% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Bangalore on talent depth and Mumbai on rent and tax.
| Metric | Bangalore | Mumbai |
|---|---|---|
| Region | APAC | APAC |
| Country | India | India |
| Class A rent (USD/sqft/yr) | $1 | $46 |
| Class A rent (local) | 110 INR | 320 INR |
| Vacancy | 14.2% | 12.6% |
| Trend | rising | rising |
| Prime yield | 8.5% | 7.5% |
| Premium flex / seat / month (USD) | $280 | $420 |
| Submarkets covered | 5 | 4 |
| Corporate tax | 25.17% | 25.2% |
| Metric | Bangalore | Mumbai |
|---|---|---|
| Typical term | 9 yrs | 5 yrs |
| Typical rent-free | 6 mos | 4 mos |
| Lease norms | Net leases (tenant pays opex, taxes separately). 9-year terms with 3-year lock-ins standard. Free rent of 4-9 months and TI of INR 1,500-3,000/sqft typical on a 9-year Class A deal. | 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. |
| Tax note | 22% base corporate income tax plus surcharges and cess for an effective rate of 25.17%. New manufacturing companies eligible for 15% concessional rate. SEZ benefits available in selected GCC parks. | Headline corporate tax 25.2% (concessional 17.16% for new manufacturing). Maharashtra state taxes apply. |
| Metric | Bangalore | Mumbai |
|---|---|---|
| Talent index (0–100) | 82 | 60 |
| Talent note | Deepest tech and engineering talent pool in India — anchored by IISc, IIM Bangalore, IIIT-B, and a deep network of engineering colleges. English-fluent professional base supports global delivery operations. | India's deepest financial-services and tech talent pool. Average all-in compensation indexes 60. |
Bangalore: BMRCL Namma Metro (Purple, Green, Yellow Lines), BMTC bus. Whitefield is now Metro-served (2023). Bengaluru Suburban Rail under construction. Heavy congestion on Outer Ring Road remains a tenant concern.
Mumbai: Mumbai Suburban Railway is the primary mass transit. Mumbai Metro is expanding rapidly. Direct connection between BKC and the CBD remains the key infrastructure constraint.
Bangalore is the cheaper Class A market on a USD basis.
Bangalore has the deeper talent index (82/100 vs 60/100).
Bangalore has the lower headline corporate tax (25.17% vs 25.2%). Local incentives can change the effective rate materially.
Bangalore typical term is 9 years with 6 months free; Mumbai runs 5 years with 4 months free.
Bangalore: BMRCL Namma Metro (Purple, Green, Yellow Lines), BMTC bus. Whitefield is now Metro-served (2023). Bengaluru Suburban Rail under construction. Heavy congestion on Outer Ring Road remains a tenant concern. Mumbai: Mumbai Suburban Railway is the primary mass transit. Mumbai Metro is expanding rapidly. Direct connection between BKC and the CBD remains the key infrastructure constraint.
Score Bangalore, Mumbai and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.