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Find Out Where the Best Commercial Areas in Mumbai

Find Out Where the Best Commercial Areas in Mumbai

Despite rising prices, the demand for commercial properties in Mumbai continues to rise. Real estate companies & developers estimate that investing in commercial properties in Mumbai can yield returns of 15 to 20% over time.

Mumbai is renowned as India’s financial capital, and as the name implies, it is at the vanguard of the country’s and Asia’s economic landscapes. Companies in the financial services, banking, IT, ITES, insurance, and other service sectors drive Mumbai’s economy. Over the last few years, investors and corporations seriously considering investing in India have chosen Mumbai as their investment base since it is India’s “numero uno” and has continuously proven to be stable despite times of economic turmoil.

 

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Despite rising prices, the demand for commercial properties in Mumbai continues to rise. Real estate companies & developers estimate that investing in commercial properties in Mumbai can yield returns of 15 to 20% over time. The demand for commercial properties for sale is increasing, but so is the demand for commercial work spaces for rent and leases, which has resulted in a 25 percent increase in commercial prices in the last few months.

The commercial real estate sector is divided into three categories depending on their distinct characteristics:

Point Nariman: Nariman Point is the first planned central business area in Mumbai and the country. The location is situated on reclaimed ground from the sea. This location is consider to offer the world’s highest commercial rental space. Cuffe Parade and Churchgate, for example, are close by and hence form part of the CBD. Nariman Point does have the advantage of being close to the Western Line, Central Line, and Harbour Line Terminus Stations due to its location in the Central Business Unit, Buy commercial property.

It is widely regarded as Mumbai’s ‘Manhattan,’ with an outstanding skyline and high-priced residential buildings. It is Mumbai’s primary financial area, and it is home to the majority of the city’s financial services and brokerage firms, both domestic and international. 

  • Accenture Management Consulting
  • The Royal Bank of Scotland
  • Boston Consulting Group
  • State Bank of India
  • HSBC
  • Consulates of Oman
  • JP Morgan
  • Mckinsey and Company
  • India Bulls
  • Tata Consultancy Services

 

Find Out Where the Best Commercial Areas in Mumbai

Worli:  What was once a historic textile mill site is now one of the country’s top commercial real estate locations? Even when other micro markets in Mumbai were faltering, the location had shown a high level of adaptability.

This neighborhood has not only retained its premium status in the expanded core business area, but has also maintained a consistent price over the years. Worli’s distinct feature is its proximity to both the CBD (Nariman Point) and the Bandra-Kurla Complex (BKC) as well as the airport on one side and the airport on the other. The newly constructed sea link has added to its credibility. Factors such as grade buildings, green buildings, abundant parking, and current construction technologies all contribute to Worli’s prosperity.

  • GSK Pharma
  • TATA
  • Novartis
  • HDFC Bank
  • Yes Bank
  • Siemens

 

Bandra Kurla Complex: The Bandra Kurla Complex is a planned business complex and one of Mumbai’s most strategically located commercial real estate. The facility is the first in a series of “growing centres” designed to “prevent further concentration” of offices & commercial activity in South Mumbai, according to MMRDA, rent commercial property in mumbai. It is projected to relieve congestion in southern Mumbai and establish new areas of planned commercial real estate throughout the metropolitan area.” The Bandra-Kurla Complex is home to a multitude of commercial structures, including:

  • NABARD Head office
  • Asian Heart Institute
  • Dow Chemicals
  • ICICI Bank
  • Citibank
  • Bharat Diamond Bourse
  • Dhirubhai Ambani International School
  • American School of Bombay
  • IDBI Bank
  • SEBI

It also houses the cricket ground of the Mumbai Cricket Association as well as the United States Consulate in Mumbai. In the Bandra-Kurla Complex, roughly 4 lakh people work in various offices. In this business hotspot, good facilities such as ample parking, wide roadways, and efficient power supply have been taken care of. The recently constructed Bandra-Worli Sea Link has significantly reduced traffic flow from North to South Mumbai, as well as the travel time between Bandra & Worli. In addition, the 1.3-kilometer Bandra-Kurla skywalk connects the Bandra and Kurla suburbs.

 

Find Out Where the Best Commercial Areas in Mumbai

Andheri East: Following the historic business centres of Bandra Kurla Complex (BKC) & Nariman Point, Andheri East has evolved as a popular commercial area. Because of its excellent transportation connections, this area is becoming increasingly desirable. The Jogeshwari-Vikhroli Link Road (JVRL), the Andheri Kurla Link Road, & the Versova-Andheri-Ghatkopar metro link all benefit the marketplaces of Andheri East. This stretch has also served as a hub for manufacturing, professional services, and logistics due to its proximity to the airport. The neighborhood is home to a diverse range of industrial and commercial businesses, including IT & ITES, manufacturing, financial services, logistics, pharmacy, jewellery, and retail. The following are some of the businesses that are house here:

  • Patni Computers
  • Syntel
  • Mastek Limited
  • Jet Airways India Limited
  • Abbott Healthcare Private Limited

The Versova-Ghatkopar metro rail project will improve connection between the eastern and western suburbs. Hiranandani, Kalpataru, Kohinoor, Rustamjee, and Phoenix, among others, are in charge of the new commercial projects in Andheri East. This corporate area also shares space with the hospitality industry; the Hyatt, Sheraton, as Well as the Leela Palace are just a few of the resorts in Andheri East.

 

Airoli:  In Mumbai, Airoli is emerging as a new commercial space necessity. This neighborhood is a sought-after commercial destination among corporations since it is away from city traffic and surrounded by greenery. There is even land available for future development at reasonable prices. Airoli is quickly has become one of the busiest commercial districts in the city. Airoli commercial estate meets international standards on a regular basis & is fully equipped with all amenities and conveniences. Furthermore, it has great access through the Eastern Express Highway in the south as well as the Thane-Belapur Road in the north, which connects Airoli to Mulund and the rest of Mumbai, attracting a slew of developers and corporations.

The following are some of Airoli’s well-known properties:

  • Airoli Knowledge Park
  • Patni Knowledge Park
  • Mindspace Airoli

In Mumbai and its suburbs, the commercial real estate market is supportive of new buyers and investors. Rentals & capital values in Mumbai’s CBD are expected to fall over the next two years, potentially encouraging investment from more buyer & tenant-oriented investors for the first time in decades. Given that the rentals & capital values in Lower Parel are less than half of those within the CBD & Bandra Kurla Complex, there is significant demand. Corporates & business houses appear to be reaping the greatest benefits from the current commercial real estate situation.

 

 

 

 

 

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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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