--- title: "Melbourne vs Mumbai: Class A office comparison" description: "Side-by-side Class A office comparison for Melbourne and Mumbai — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/melbourne-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)." --- > Melbourne ($43/sqft, 18.4% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Melbourne on talent depth and Mumbai on rent and tax. ## TL;DR - Class A rent: Melbourne $43/sqft vs Mumbai $46/sqft. - Vacancy: Melbourne 18.4% vs Mumbai 12.6%. - Talent index: Melbourne 84 vs Mumbai 60. - Corporate tax: Melbourne 30% vs Mumbai 25.2%. - Premium flex/seat/month: Melbourne $720 vs Mumbai $420. # Melbourne vs Mumbai: Class A office comparison **Melbourne ($43/sqft, 18.4% vacancy) and Mumbai ($46/sqft, 12.6% vacancy) compete on different axes: Melbourne on talent depth and Mumbai on rent and tax.** ## TL;DR - [Class A](/glossary/class-a) rent: Melbourne $43/sqft vs Mumbai $46/sqft. - Vacancy: Melbourne 18.4% vs Mumbai 12.6%. - Talent index: Melbourne 84 vs Mumbai 60. - Corporate tax: Melbourne 30% vs Mumbai 25.2%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Melbourne $720 vs Mumbai $420. ## Market data side-by-side | Metric | Melbourne | Mumbai| | Region | APAC | APAC| | Country | Australia | India| | Class A rent (USD/sqft/yr) | $43 | $46| | Class A rent (local) | 720 AUD | 320 INR| | Vacancy | 18.4% | 12.6%| | Trend | softening | rising| | Prime yield | 5.4% | 7.5%| | Premium flex / seat / month (USD) | $720 | $420| | Submarkets covered | 5 | 4| | Corporate tax | 30% | 25.2%| ## Lease norms | Metric | Melbourne | Mumbai| | Typical term | 7 yrs | 5 yrs| | Typical rent-free | 14 mos | 4 mos| | Lease norms | Net leases. 7-10 year terms standard. Incentives of 30-45% (combination of free rent, fitout, and rent abatement) typical on a 10-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 | 30% Australian corporate tax (25% for base rate entities). Victorian state payroll tax of 4.85-6.85%. R&D tax incentive available federally. | Headline corporate tax 25.2% (concessional 17.16% for new manufacturing). Maharashtra state taxes apply.| ## Talent | Metric | Melbourne | Mumbai| | Talent index (0–100) | 84 | 60| | Talent note | Deep professional services, banking, education, and creative talent. Strong feed from University of Melbourne, Monash, and RMIT. English-fluent professional base; multicultural workforce. | India's deepest financial-services and tech talent pool. Average all-in compensation indexes 60.| ## Transit & commute **Melbourne:** Metro Trains (suburban rail), Yarra Trams (the world's largest tram network), and bus. Melbourne Metro Tunnel opens 2025 — adds five new stations under the CBD. **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 — Melbourne - [**CBD East (Collins Street)**](/cities/melbourne/cbd-east) — [trophy tier](/topics/trophy-asset-selection) · A$880/sqm/yr · ≈ $53.1 PSF/yr USD - [**CBD West (Spencer Street)**](/cities/melbourne/cbd-west-spencer) — trophy tier · A$800/sqm/yr · ≈ $48.3 PSF/yr USD - [**Southbank**](/cities/melbourne/southbank) — prime tier · A$750/sqm/yr · ≈ $45.3 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 Melbourne is the cheaper Class A market on a USD basis. ### Pick by talent depth Melbourne has the deeper talent index (84/100 vs 60/100). ### Pick by tax Mumbai has the lower headline corporate tax (25.2% vs 30%). Local incentives can change the effective rate materially. ### Pick by lease optionality Melbourne typical term is 7 years with 14 months free; Mumbai runs 5 years with 4 months free. ### Pick by transit Melbourne: Metro Trains (suburban rail), Yarra Trams (the world's largest tram network), and bus. Melbourne Metro Tunnel opens 2025 — adds five new stations under the CBD. 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 Melbourne, 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 Melbourne or Mumbai?**** : Melbourne is cheaper on a USD basis: $43/sqft vs $46/sqft. ****Which has better talent depth, Melbourne or Mumbai?**** : Melbourne indexes higher on talent depth (84 vs 60). ****Which has more sublease availability, Melbourne or Mumbai?**** : Melbourne carries higher vacancy (18.4% vs 12.6%) and therefore typically more [sublease](/topics/sublease-strategy)">sublease overhang. ****What lease term should I expect in Melbourne vs Mumbai?**** : Melbourne typical term is 7 years with 14 months rent-free; Mumbai typical term is 5 years with 4 months rent-free. ****How does transit and commuter access compare?**** : Melbourne: Metro Trains (suburban rail), Yarra Trams (the world's largest tram network), and bus. Melbourne Metro Tunnel opens 2025 — adds five new stations under the CBD. 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 [**Kenji Watanabe**](/about/authors/kenji-watanabe) — APAC 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/melbourne-vs-mumbai), updated 2026-04-15T00:00:00.000Z.