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Mumbai’s luxury rental market bounces back, many deals sealed at pre-COVID rates © Vandana Ramnani Mumbai’s luxury rental market bounces back, many deals sealed at pre-COVID rates The leasing market, which has corrected by 10-30 percent in Mumbai owing to COVID-19, has started recovering as offices gradually reopen and people return to work. In fact, the luxury rental market has already started commanding pre-COVID rates. “The leasing market is gradually looking up. It is the first asset class to have bounced back ever since the vaccine was announced,” said Ritesh Mehta, senior director and head - West India, Residential Services, JLL India.

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