--- title: "London vs Mumbai: Class A office comparison" description: "Side-by-side Class A office comparison for London and Mumbai — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/london-vs-mumbai pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > London ($121/sqft, 8.6% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: London on talent depth and Mumbai on rent and tax. ## TL;DR - Class A rent: London $121/sqft vs Mumbai $46/sqft. - Vacancy: London 8.6% vs Mumbai 12.6%. - Talent index: London 96 vs Mumbai 60. - Corporate tax: London 25% vs Mumbai 25.2%. - Premium flex/seat/month: London $1,380 vs Mumbai $420. # London vs Mumbai: Class A office comparison **London ($121/sqft, 8.6% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: London on talent depth and Mumbai on rent and tax.** ## TL;DR - [Class A](/glossary/class-a) rent: London $121/sqft vs Mumbai $46/sqft. - Vacancy: London 8.6% vs Mumbai 12.6%. - Talent index: London 96 vs Mumbai 60. - Corporate tax: London 25% vs Mumbai 25.2%. - [Premium flex](/topics/lease-vs-flex)/seat/month: London $1,380 vs Mumbai $420. ## Market data side-by-side | Metric | London | Mumbai| | Region | EMEA | APAC| | Country | United Kingdom | India| | Class A rent (USD/sqft/yr) | $121 | $46| | Class A rent (local) | 95 GBP | 320 INR| | Vacancy | 8.6% | 12.6%| | Trend | rising | rising| | Prime yield | 4.5% | 7.5%| | Premium flex / seat / month (USD) | $1,380 | $420| | Submarkets covered | 7 | 4| | Corporate tax | 25% | 25.2%| ## Lease norms | Metric | London | Mumbai| | Typical term | 10 yrs | 5 yrs| | Typical rent-free | 24 mos | 4 mos| | Lease norms | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. | 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 | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. | Headline corporate tax 25.2% (concessional 17.16% for new manufacturing). Maharashtra state taxes apply.| ## Talent | Metric | London | Mumbai| | Talent index (0–100) | 96 | 60| | Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | India's deepest financial-services and tech talent pool. Average all-in compensation indexes 60.| ## Transit & commute **London:** The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. **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. ## Top submarkets — London - [**Mayfair & St James's**](/cities/london/mayfair-st-james) — trophy tier · £165/sqft/yr · ≈ $210 PSF/yr USD - [**City of London**](/cities/london/city-of-london) — trophy tier · £95/sqft/yr · ≈ $121 PSF/yr USD - [**Fitzrovia & Soho**](/cities/london/fitzrovia-soho) — prime tier · £110/sqft/yr · ≈ $140 PSF/yr USD ## Top submarkets — Mumbai - [**Bandra-Kurla Complex (BKC)**](/cities/mumbai/bkc) — trophy tier · ₹380/sqft/mo · ≈ $54.7 PSF/yr USD - [**Lower Parel & Worli**](/cities/mumbai/lower-parel-worli) — prime tier · ₹290/sqft/mo · ≈ $41.8 PSF/yr USD - [**Powai**](/cities/mumbai/powai) — established tier · $38/sqft/yr ## Decision criteria ### Pick by cost Mumbai is the cheaper Class A market on a USD basis. ### Pick by talent depth London has the deeper talent index (96/100 vs 60/100). ### Pick by tax London has the lower headline corporate tax (25% vs 25.2%). Local incentives can change the effective rate materially. ### Pick by lease optionality London typical term is 10 years with 24 months free; Mumbai runs 5 years with 4 months free. ### Pick by transit London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. 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. ## Run a 4-city comparison Score London, 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. [**Run a 4-city comparison →**](/tools/city-comparator) ## Frequently asked questions ****Is Class A office cheaper in London or Mumbai?**** : Mumbai is cheaper on a USD basis: $46/sqft vs $121/sqft. ****Which has better talent depth, London or Mumbai?**** : London indexes higher on talent depth (96 vs 60). ****Which has more sublease availability, London or Mumbai?**** : Mumbai carries higher vacancy (12.6% vs 8.6%) and therefore typically more sublease overhang. ****What lease term should I expect in London vs Mumbai?**** : London typical term is 10 years with 24 months rent-free; Mumbai typical term is 5 years with 4 months rent-free. ****How does transit and commuter access compare?**** : London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. 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. ## Editorial provenance Reviewed by [**Samuel Okafor**](/about/authors/samuel-okafor) — EMEA contributing editor. Last updated 2026-04-15. See our [methodology](/about/methodology) and [editorial standards](/about/editorial-standards). ### Primary sources for this page - [CBRE Marketview reports](https://www.cbre.com/insights) — CBRE - [JLL Office Insight](https://www.jll.com/en/trends-and-insights) — JLL - [Cushman & Wakefield Marketbeat](https://www.cushmanwakefield.com/en/insights) — Cushman & Wakefield - [Savills World Research](https://www.savills.com/research_articles/) — Savills - [Colliers Global Office Outlook](https://www.colliers.com/en/research) — Colliers [Full sources index](/about/sources) · [Submit a correction](/about/corrections) --- Citation: Source: Class A Atlas (https://classa.info/compare/london-vs-mumbai), updated 2026-04-15T00:00:00.000Z.