Navi Mumbai, which was planned to help Mumbai tackle it’s growing corporate congestion has some practical benefits for commercial real estate seekers. We are talking about the Office spaces available in Navi Mumbai. There are a number of reasons why setting up an office or simply renting one can be a whole lot easier and cost effective in Navi Mumbai. For now, the growth pattern of this ambitious project suggests some good news for commercial properties.
It might come as a surprise but office accommodation rates in Navi Mumbai are lower than most other corporate hotspots in the city such as Thane and BKC that stand at 94 and 211 INR per sq feet respectively for monthly rent. Here in Navi Mumbai, the monthly average is around 59 INR, which is way less than its suburban counterparts.
Navi Mumbai has offered city’s overcrowded commutation routes with a breath of fresh air. Traversing time to places such as Kharghar have significantly decreased, which is the outcome of Sion-Panvel Expressway. As Navi Mumbai receives more of such redevelopments, owning an office in this part of the city will provide you with additional benefits. Saving on traversing time is one of them.
Just recently, IDFC bank leased a staggering 1.8 lakh sq feet of office space in Juinagar area, which was attributed to the regions easy accessibility and cost benefits. Similarly, several other factors such as a quick access to Mumbai City and Pune make Navi Mumbai a great option to consider for office purposes.
If you see your office space in the light of property investment scenario, there is a lot that you can capitalize on. The upcoming trans-harbor link will render Navi Mumbai with a whole new real estate value, making it stand out as a selling prospect alongside business operation benefits. MD at Cushman and Wakefield quotes “Navi Mumbai has been seeing steady activity in the commercial office space, with the Information Technology and Business Process Management sectors driving that growth story. Tax incentives have attracted investments from developers too, further driving interest from MNCs and domestic occupiers.”
Hence, Navi Mumbai can offer you a great office space at cheaper prices with a promise of future benefits. It already has better connectivity and quicker access to other parts of the city, offering a much-wanted relief from traffic congestion. The best time to move things around is now, as the progress is taking speed. There is a fair chance of price hikes as more and more office space is acquired in Navi Mumbai.
Think that Navi Mumbai is your next destination? Let Spacio help you find the right spot, while you are busy making other arrangements. Contact us now for effortless property hunt!
Until recently, the phrase, “Going Commercial? Go BKC!” found a new popularity due to a number of reasons. The Bandra Kurla Complex is once again rising to limelight due to the already existing commercial property in this place, but also the new projects that are being planned to boost the investment landscape of BKC. So, if you’re looking for property investment in Mumbai, and that too commercial, BKC may be the thing topping your charts. Here are a few reasons why!
BKC is supposedly getting a new finance center. This has not been finalized as of yet but the Commerce Ministry has shown positive signs towards its development, which is a great news for investors looking to make a solid long-term investment in Mumbai.
This will be set up in the ‘G’ block which is slowly taking place. Any investment here is most probable to turn profitable as the land for construction starts to be bid on.
It is to be noted that about 6 lakh employees are already working in the BKC corporate sector and the area is sure to get more attention to increase this number.
BKC lies in close proximity to some of the most prestigious institutions in Mumbai such as Reliance Convention Centre and Bharat Diamond Bourse. This fact again works in the favor of someone who wants to set up an office in the most star-studded portion of Mumbai commercially.
That’s not all, BKC also leverages its connectivity links to the domestic and international airports. The Bandra and Kurla Railway stations also fall under this complex, allowing easy commute to other parts of the city without a worry.
So this was all about the commercial viability of BKC, now let’s talk about social highlights. BKC enjoys two major shopping destinations lying close to it; the Linking Road and the Hill Road. This is another good reason why MNCs would want to settle down in BKC. Not to shop for their supplies but due to the high value of the property.
BKC also harbors the BCCI Club and the MIG Club. Both these clubs run old in the history of Mumbai and have pristine significance when it comes to serving as value-added-locations of Mumbai.
Further, Mumbai’s novelty hospitality can also be found in BKC in the form of the Trident and the Grand Hyatt, making up as the prime destination for tending to foreign dignitaries and company guests. It must be noted that these hotels are often chosen as the spots for all kinds of international conferences and company meetings, by the big-pockets of Mumbai.
Keeping the above facts in mind, it can be said that a property buying decision made in BKC has great promises to offer if you are a long time player, due to its upcoming projects and flourishing commercial landscape.
You can know the full details of BKC in our property report from Spacio.
Please feel free to contact us for any kind of property related advice in BKC, it could well turn out to be the best decisions made by you!
Bandra- Kurla Complex or BKC is fast emerging as the preferred choice of MNCs, banks and financial institutions for setting up their offices in Mumbai. The planned development of this commercial hub in Mumbai brings with it the rise of residential properties in and around BKC.Location Overview of Bandra- Kurla Complex, Mumbai
|Geographical Information||Bandra-Kurla Complex famously known as BKC, was built on open land on the north side of Mahim Creek and is bound by the suburbs of Kurla in the east and Bandra in the west.|
|Very brief Summary of area||The BKC is a planned commercial complex in the suburbs of the Mumbai. The BKC is the first of a series of “growth centres” created to “arrest further concentration” of offices and commercial activities in South Mumbai. There are approximately 6 Lakh people working in various offices throughout the BKC.|
|Property Rates||Rs. 25000 – 35000/- psf|
|Real Estate Trends||Upward trend. BKC is home to some of the largest conglomerates in the world. Now developing ‘G’ Block where a new International Finance and Business Center is planned.|
|Residential / Commercial||Mainly Commercial, but now reputed builders are coming with residential projects|
|Neighbouring Areas||Kalanagar, Government colony, Bandra West|
|Popular or Known Landmarks||MMRDA & MCHI Grounds, Reliance convention centre, Income Tax Office, Bharat Diamond Bourse, ICICI Bank, The Capital, MTNL Telephone Exchange,|
|Connectivity||BKC is located between Bandra and Kurla, both of which are major railway stations on the Western/ Harbor and Central lines respectively, of the Mumbai Suburban Railway. Well connectivity to Western Express Highway, Eastern express highway, domestic & international airports The upcoming Line II of Phase 1 of the Mumbai Metro project will pass through the BKC & will have 4 stations near and within BKC.|
|Shopping||Bandra (W), Linking Road, Hill road|
|Food & Hospitality||It is home of finest hotels & Restaurants like Trident, Sofitel, Grand Hyatt, Taj Lands End|
|Entertainment||Mumbai Cricket Association, BCCI Club, MIG Club,|
|Educational Institutes||American School of Bombay, Dhirubhai Ambani International School, Arya Vidya Mandir, Mount Litera School International|
|Medical Facilities||Asian Heart Institute, Lilavati Hospital and Research Centre|
|Other Highlights||BKC has become a hub for all business ventures. The commercial development in BKC includes private and government offices (state and central), banks, wholesale establishments, etc. and provides ultimately about 2o lakhs jobs in the area|
More About Bandra-Kurla Complex
Witnessing steady leasing activities for front office spaces and is developing fast enough to compete with Nariman Point and Fort which comprises of the current Central Business District of Mumbai. Whether in future this development sustains or not would largely depend on the supporting infrastructural network growth, but as of now this growth is driven by the demand supply ratio.
Kalina and Kalanagar are close to BKC within 5-10 minutes drive, whereas Tilak Nagar, Sion, Kurla and Vakola are 15-20 mins drive away. Proximity to office spaces has led to an increase in the demand for housing in these areas. Andheri and Goregaon in the west and Kurla and Ghatkopar in the central suburbs can be reached within a half-hour drive. But new and under construction residential properties in BKC itself are mostly luxury apartments and ultra-premium category duplex and penthouse offering modern infrastructure and high end amenities with target buyer as senior management personnel of large banks and corporate houses and even the diamond business owners.
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