The upcoming developments in the region will make Mumbai even more important in the entire South-East Asia region. Investors from the continent and abroad are likely to show even more interest in the projects to be launched. The restructuring of the MMR will result in economic booms and make available various residential and commercial properties for sale in Mumbai.
It’s obvious that most of the areas coming under the metro line projects will guarantee economic prosperity. For those who wish to invest, let’s discuss some of the best places you can consider for commercial real estate investment:
Central Business District
The central business district of Mumbai, spanning across Nariman Point all the way over to the Churchgate is already a top-tier location. However, since the metro line projects to be operational by 2024 are going to start from Dahisar and provide transit services to the end of the coastline; it’s going to make the business districts even more prosperous.
You can invest in any of the high-rise offices and several upscale hotels that offer profitable options. With the increasing commercial space and prime locality with close proximity to the shoreline, the demand is set to only increase. Those who don’t prefer the office space investments can choose to buy hotel spaces near the National Center of Performing Arts and the Piramal Art Gallery. These are two of the many hot spots that are bound to bring in good business and ultimately, more profit.
Moreover, options in the Ballard area are up for grabs for those who have enough capital. The area is near many important places such as Bandra, Andheri, etc. Not only are they rich in residential spaces but they are also prominent business spaces that attract a lot of investor attention.
Secondary Business District
The secondary business district of Mumbai covers the areas of Worli, Lower Parel, Prabhadevi, the famous BKC and Kalina.
Worli and Lower Parel are known for being high-end residential areas that house some of the richest and wealthiest people of India. However, these areas owe much of their value to the high-performing businesses around them. Not only is the proximity to the sea a great selling point, but the harbour link to Bandra also proves to be essential in establishing great value to the area.
You can find multiple options for commercial as well as residential real estate investment. The BKC alone stands as one of the most famous areas in the whole country with respect to opportunities for profitable investments. The presence of large-scale businesses and small offices add to the reputation of the place. Moreover, residential areas situated in and around the area are hospitable for employees as well as their families. The infrastructural development plans to connect it to the northern part of the city will not only make more space ripe for commercial and residential projects, but it will also make it easier for transportation.
Peripheral Business District
Although these areas may not seem like much to potential investors, it is going to become an investment hub in times to come. The peripheral business district comprises of Andheri to Jogeshwari, Malad to Goregaon, Powai to LBS Marg and Thane to Navi Mumbai. Being at the peripheries of the city, they are, for now, mainly residential hubs with suburban communities and neighbourhoods. However, the developments to follow will definitely make tons of office spaces and even more residential land for investment. Some of the best real estate developers in India are already locating potential areas in these regions to transform.
Needless to say, the slums of Mumbai along with the air pollution factor that is keeping the city from reaching its potentials will evolve. Times to come will ensure that even the coastal areas that are normally sidelined as housing spaces at max will become the centre of attention. The same is the case with all the slums and underdeveloped areas of the city that are witnessing substantial growth. Investments from locals as well as foreigners will cultivate the land with projects that will boost economic prosperity.