Andheri East

Mumbai’s Commercial Location in Great Demand

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Mumbai’s Commercial Location in Great Demand

The prices of commercial properties continue to rise indefinitely in Mumbai and in spite of this upswing mode, developers find sales and can easily get returns of 15-20% over a certain period of time.

Being the financial capital of India, commercial property prices in Mumbai are at an all-time high and also rise with each passing financial year. This makes Mumbai one of the vital economic landscapes of India and Asia. Companies such as IT, banking, ITES, financial services insurance and other such service sectors drive the economy of Mumbai.

Investments made in commercial property in Mumbai offer a return of minimum 15-20% and this is not just restricted to the sales but extends to lease and rentals for office spaces as well. The latter sector has witnessed a rise of 25% in commercial prices over a span of few months only.

Commercial Hubs in Demand:

Mumbai’s Nariman Point is undoubtedly the most upscale and posh business district and is listed amongst one of the most expensive commercial rental space in the world. This sea-facing business district is also one of the most well-planned and first such business district in the country. The place is also in close proximity to Western and Central Line as well as the Harbour line railway terminus. The impressive skyline of this area has often drawn comparisons and named as the ‘Manhattan’ of Mumbai.

The extended central business district areas cover areas like Lower Parel, Prabhadevi, Worli, Mahalaxmi etc. Worli was primarily a textile mill location but has now transformed into one of the prime commercial destinations in the country. Having retained its premiere position, TATA, Siemens, GSK pharma are some of the well-known offices located here.

Bandra, Kurla, Kalina are places that have been categorised as the emerging destinations of commercial business. Also known as the Bandra-KurlaComplex, this are houses offices such as Citibank, NABARD, Dow Chemicals, DhirubhaiAmbani International School, SEBI, US Mumbai consulate etc.

Andheri East has also emerged as a popular and in-demand destination that has office spaces of Jet Airways, Abbott Healthcare Private Limited, Mastek Limited etc. It offers great connectivity which has contributed to it emerging as a commercial hub.

Content :- CommonFloor

Source: Money Control

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