Commercial property segments are growing by leaps and bounds in Mumbai. Mumbai is turning out to be a mega destination for several landmark property projects. The office and commercial space market in Mumbai was always active owing to its predominance as one of India’s major business and financial cities. Mumbai is the Financial Capital of the country and is home to several leading banks and financial institutions both domestic and global. Apart from the huge financial services sector here, Maximum City is also home to almost all leading IT companies, corporate firms, multinational organizations and media and entertainment organizations. Bollywood, television, music, publishing, radio and newspaper industries thrive in Mumbai along with traditional manufacturing, services and businesses in more traditional segments. Mumbai is always a favorable place to do business owing to its strategic location and financial services spectrum. Demand for commercial property in Mumbai has always been quite high owing to these reasons.
Commercial property in Mumbai is a highly coveted proposition for most companies in places like Lower Parel, Andheri and the Bandra-Kurla Complex which are the new hotbeds for business and commercial growth. Lower Parel, in particular, has totally outshone most traditional commercial areas in the Central Business District including Nariman Point and Cuffe Parade. While the Central Business District does present a viable proposition for many companies today, many corporates and multinationals are choosing to operate out of Lower Parel or the Bandra Kurla Complex. Additionally, in most emerging office locations like these, subsidiary development has also taken place to a large extent including the development of shopping malls, hotels, educational institutions, healthcare centres, recreational and entertainment centres, restaurants and so on. Additionally, some areas in Mumbai are also poised to witness heady demand for commercial property like Ghatkopar. These areas are being transformed through the launch of pioneering projects by leading developers and this should certainly boost overall commercial progress in these zones.
Commercial property in Mumbai has to be selected carefully depending on your specific needs and requirements. Companies should look for locational flexibility and proper connectivity in addition to overall infrastructure offered, facilities, parking and other conveniences, security systems and proximity to all necessary social amenities and infrastructures. All the locations mentioned above offer good infrastructure and one should judge on a project to project basis in order to land the best deal. Mumbai’s commercial sector has always been thriving and experts forecast further growth and progress in this segment in the near future.
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