The financial capital of India, Mumbai has always been a hub for realty investments. Maybe a residential tower or a hi-end commercial building, property prices in Mumbai have always remained on a high. However, in recent times, various key commercial areas have emerged in the city that has witnessed some of the record high commercial deals. Of them, most were in the Bandra-Kurla Complex. The commercial hotspot has topped amongst all the other office hubs in grabbing major investment deals globally as compared to its counterpart Nariman Point and Lower Parel.
The reason behind this surge is swift connectivity, better infrastructure, lucrative office spaces and much more. Another reason is the presence of premium land parcels that offers a high return of investment to the investors. So, if you are an investor and looking for a premium investment then read this blog and know other important factors that are favourable for investment here:
Location and Connectivity
One of the most planned and popular commercial complex located in South Mumbai, Bandra Kurla Complex (BKC) is home to a number of commercial buildings, retail shops, and national business centers, Mumbai Cricket Association’s cricket ground, the United States Mumbai Consulate and the British Deputy High Commission.
The complex is well-connected to Western Express Highway, Eastern Express Highway and as well as domestic and international airports. Bandra and Kurla stations are the two prime stations of Mumbai Suburban Railway that falls on this route. In the future, the complex will also be the starting point of the proposed Terminus of the Mumbai Ahmedabad Bullet Train.
BKC is home to well-established social and civic infrastructure, world-class amenities, and better traffic management facilities. The commercial hub is host to various private and government offices, banks, wholesale establishments, etc. that provide jobs to nearly 20 lakh professionals. The whole complex is divided into various blocks with respective developments.
The MMRDS has also developed many open plots to organized events like Trade Exhibitions, Music Concerts, and Award Nights, etc. Many leading schools are also present in this complex.
Commercial Real Estate
Due to the presence of world-class infrastructural facilities, BKC in recent years has attracted many realty deals. Some of them include Blackstone Group deal worth 2500 crore, Blackstone-K Raheja Deal worth Rs 395 crore, Brookfield- Equinox Business Park- Essar deal worth Rs 2400 crore. The latest one among all is the Suminoto Corp deal that has offered 2238 crore for a three-acre plot in BKC. It is also considered as one of the largest land deals. Because of these mega-deals, the rental price of other assets in the complex has also witnessed a huge jump in recent years. For instance, lease contracts have gone up in BKC as most of the leading companies want to set up their premium offices here.
Another reason, which is favouring the commercial real estate market, is the development of residential projects in Bandra-Kurla Complex. However, most of the units are in the luxury segment and the most demanded ones are 1 and 2 BHK’s. The average property price is Rs 31,456 per sqft, while the units fall in the range of 1.5 to 5 crores. Some of the premium projects present here are Kanakia Paris, 10 BKC, Omkar Meridia, Naman Residency, etc.
With these developments and mega deals, BKC will surely add feathers and more shine to the commercial real estate market of the Mumbai in future.