MUMBAI: Mumbai is least preferred among the top seven Indian cities by the IT industry for setting up shops, according to a report prepared by ICICI Property Services.
The financial capital of the country ranks at the lowest in the attractiveness index when it comes to manpower accessibility and new supply for office spaces. It is the most expensive in terms of realty and manpower costs, but is only second to Kolkata in social security and cost of living.
Among the seven driving dynamics those were taken into consideration, Mumbai ranks fifth in terms of manpower availability trailed by Bangalore, Pune, Chennai and Hyderabad. While 6,435 engineering graduates pass out from Mumbai each year, Bangalore produces 23,470 engineering graduates, 8,870 from Pune, 14,947 from Chennai and 21,400 from Hyderabad.
Mumbai has the least office space to offer by December this year. Bangalore has the highest space to offer during that period. While 4.63 million square feet of office space is to be readied by December 2008 in Mumbai, Bangalore has the highest at 27.1 mn sq ft followed by NCR at 14.86 mn sq ft.
Realty cost-wise, Mumbai, as anybody's guess, is the last resort for any IT company as rentals per month for IT space is the highest among the top seven cities. Per square feet rental here is between Rs 60 and Rs 150 compared to Rs 28-45 in Bangalore and Rs 40-55 in Kolkata.
Cost of manpower, again, is one which goes against Mumbai. It is the most expensive with Rs 6.8 lakh as against Rs 3.6 lakh in Kolkata and Rs 4.9 lakh in Pune and Rs 5.5 lakh in Bangalore.
However, in terms of rate of crime and cost of living, Mumbai fared better than other cities, but stood second to Kolkata.
Chennai has the highest cost of living at Rs 595 while Mumbai is at Rs 493. Mumbai records 179.9 crimes per thousand people compared to 380.6 in NCR and 501.6 in Bangalore.
Overall, Chennai ranks on top followed by Bangalore, Hyderabad Pune, Kolkata and NCR.
