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Where should we invest for commercial property in Mumbai?- Property Hotline
Posted
August 2, 2016
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August 2, 2016
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5:57Now PlayingExpert: Amit Goenka, MD & CEO of Nisus Finance.
Question: I want to invest in commercial property within Mumbai between Goregaon and Andheri. My budget is Rs2 - Rs3 cr. Where should I invest? How much appreciation can I expect?
Answer: Andheri, a western suburb in Mumbai, has metamorphosed over the last several years to become one of the most sought-after regions in the city for rentals and ready-to-occupy properties due to its bustling commercial and residential activities. The development of infrastructure, better connectivity and lower rentals than the prime locations of South Mumbai is gradually pushing the business districts towards Andheri. Its proximity and great connectivity to other areas and key business locations such as SEEPZ SEZ and BKC via road and rail networks also drive its realty.
Jogeshwari is a western suburb of Mumbai, situated immediately to the north of Andheri in Mumbai Suburbs, Maharashtra, India. Developed as a coveted residential as well as commercial locality, Jogeshwari East is one of the popular zones in the Western Suburbs of Mumbai. It is a new profound Business District Centre with many MNCs shifting bases after saturation from the Nariman Point and the BKC. Its close connectivity to the Linking Road, Western Rail Line along with Domestic and International Airport makes it an ideal place to reside. The proposed Metro Rail (Bandra - Charkop sector) and the New Oshiwara Suburban Railway Station would further enhance the connectivity.
The Mumbai office market recorded a stellar growth in transactions as well as new completions in H1 2016. Transactions grew by 51% to 3.8 mn sq. ft., and new completions jumped 115% to 4.9 mn sq. ft.
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