Is there Proper Demand for Commercial Property in Mumbai?

Mumbai is witnessing a huge demand for quality commercial spaces in recent times. Demand is rising for quality commercial property in Mumbai owing to the advent of several corporates and multinationals into Maximum City as Mumbai is sometimes affectionately called. Being India’s financial capital, Mumbai has always been a hub for commercial activity and this has risen today with the emergence of newer sectors and newer areas which promise greater returns and quality infrastructure for corporate companies and retailers alike. Mumbai’s commercial boom comes as no surprise to realty experts and market observers who find it natural going by the city’s prominence in the socio-economic fabric of the country.

Things are looking up even more now as commercial property in Mumbai is being demanded by financial services, banking and insurance companies along with leading IT companies. These companies are helping the sector stay afloat by purchasing office in premium locations. Leasing is also an option that some companies are exercising in spite of high rental rates. Office space supply is still not saturated in Mumbai according to market experts and this will certainly keep the numbers going for at least a couple of years. However, commercial space supply in all of Mumbai’s prime locations will go down drastically by that time and will see a huge increase in rentals and values of office spaces. Places like the Bandra-Kurla Complex, Parel, Lower Parel, Powai and Nariman Point should see huge growth in this regard.The heartening thing in the entire scenario is the gradually increasing demand for commercial property in Mumbai. Investors are steadily looking to add commercial properties to their own portfolios, something which was not so much of a trend even a few months. Market savvy investors are now choosing to snap up office spaces in a bid to generate greater returns in the form of ever rising rental values in prime business locations and the Central Business district. Investors are also looking at Navi Mumbai as a viable destination owing to the imminent shortage of quality office space in prime city locations over the next two years. Retail investors are now getting into the act and forking out huge sums of money for tony office spaces in Navi Mumbai. Many private companies are shifting base to Navi Mumbai for various reasons. Demand is quite high in places like Airoli, Vashi and Belapur which deliver the highest returns. Additionally, according to realty experts, 2015 will witness an outpouring of real estate projects in places like Ghatkopar West, Vikhroli and Chembur among others.

Rajhans Realty has fuelled market sentiments with regard to a recovery of the commercial realty segment with its pioneering project named Rajhans Helix 3 at Ghatkopar West. This project offers premium office spaces and retail zones for companies and organizations and Rajhans is creating a new trend, namely adding more life to workplaces with the integration of multi-cuisine restaurants, gymnasiums, retail spaces and cinemas co-existing in the same building with premium corporate spaces. Rajhans Realty has also come up with a pioneering project named Otium at Santacruz West, another in-demand location in Mumbai and the project offers top class commercial spaces for business and retailers to cash in on and of course, the affluent and coveted nature of the neighbourhood will automatically drive demand and footfalls.

This project comes with several innovative amenities including high speed elevators, two-tier security system, beautiful garden, dedicated commercial spaces with ample frontage, service floor and complete earthquake resistance. This project also lies in close proximity to the Juhu Beach, thereby adding added diversity and color to it.

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