Monday, November 9, 2009

Economical Commercial Spaces In Mumbai/navi Mumbai

Economical Commercial Spaces In Mumbai/navi Mumbai

Mumbai is the financial capital of the country and the seventh costliest city in the world. It has established its name as the centre for numerous industries, IT/ITES hub and lots of commercial activities. Owing to all these factors, there has been a continual rise in the real estate demand in the city. Mumbai property market offers investors heavy returns in very short time spans. This being the main reason, Mumbai attracts buyers, not only from all over the country, but also FDIs.
The ongoing development activities have made it even more attractive for investment prospects in commercial and residential sector through excellent returns. There has been a hike in demand as well as supply and appreciation in capital as well as rental values.
There is a rage for development in the peripheries, like Navi Mumbai, Thane etc, in addition to many places in the city also, like Malad, Andheri, and Ghatkopar etc.
With regard to the city"s commercial property markets, the rising demands have seen an increase in property rates. The posh areas of Nariman Point, Andheri, etc. have very high capital as well as rental values. So, it will be a wiser choice to explore areas, which are not really that much into the real estate limelight. A few of them, which offer very pocket-friendly commercial property rates, are:
Office Space Locations:
AreaAverage Price Per Sqft (INR)Average Rent per Sqft (INR)
Dahisar East/West6744 / NA49 / 81
Vikhroli East/WestNA / 1019475 / 89
Borivali East/West9114 / 1483754 /159
Malad East/West10532 / 1250798 / 75
Ghatkopar East/West10788 / 12038109 / 68
Goregaon East/West10922 / 943862 / 70

Retail Space (Shops) Locations:
AreaAverage Price Per Sqft (INR)Average Rent per Sqft (INR)
Bhandup East/West4090 / 14291NA / 91
Borivali East/West15643 / 1792372 / 85
Kandivali East/West10020 / 10049186 / 59
Dahisar East/West8861 / 1147450 / 70

One of the world"s best master planned cities, Navi Mumbai happens to be the hotcake for real estate investors. The proposed international airport project in Navi Mumbai has also caused an escalation in the property rates in the area. It also anticipates high appreciation in the short-term and high rental values in view of the rising mortgage rates in India.
A further massive demand for commercial properties can be expected in Navi Mumbai, looking at the infrastructure and developments going on in the area. Navi Mumbai is witnessing major developments with the proposed Special Economic Zone (SEZ) planned by Reliance and CIDCO. Good connectivity and infrastructure also make it a much sought after location. Some popular economical localities to buy commercial properties" are:
Office Space Location:
AreaAverage Property Prices (INR)Average Property Rents (INR)

Retail Space (Shops) Location:
AreaAverage Property Prices (INR)Average Property Rents (INR)

By: san

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