According to experts, prime properties in Mumbai are fetching good value even as the rentals are falling, going by the recent trend of landmark buildings changing hands in Mumbai.

The landmark Cadbury House in the posh south Mumbai has already changed hands. The one which is believed to be on the block is the past HQ of the Citigroup India at the Badra-Kurla Complex area. According to sources, the 8-storeyed Citi Centre up for sale.

Private equity firm Blackstone and Pune-based Panchshil Realty are in talks to buys majority of stakes in the iconic Express Towers in Mumbai in a huge deal.

Some of the deeds are in process where there is land parcel. These land parcels are mainly used for redevelopment purposes. In Cadbury case, the buyer planned a mixed-used development which will have two residential towers in it. There are many plans in pipeline.

At the same time, Air India Towers, has been also trying to rent out most of its 22 floors. TCS, SBI and Mahila Bank area the only tenants there.

Rentals in Nariman Point have been lowered constantly as new CBDsBKC, Lower Parel and other place are coming up with lower rentals. In the last two years the rental value has gone down by 20pc.

The Cadbury House was occupied by a diamond merchant, who beat top developers to bid highest. With an office of over 36,000 sq ft the Cadbury House has been the headquarters for over 50 years in the city.

These days investors are more interested in properties which are leased out and have good track record, giving these properties are generally iconic status.

This trend is not witnessed in the south Mumbai but even suburbs like Powai, Thane where the sellers want to make money from their non-core assets.