mumbaishah

Hi,

The commercial dynamics of where commercial businesses will settle in Mumbai is fascinating. On the one hand we have the traditional age old Nariman/Fort/Fountain area. But with poor building facilities in that area(though good sewerage and historical sights etc), and the rise of shiny new Bandra/Kurla, I just cant predict where the final location for commercial Mumbai will be. Is this the end of South Mumbai's dominance?

What do you all think? Maybe you think there is a third area (Worli or Navi Mumbai)?? It would be nice to hear your thoughts!

Mumbaishah!

realtyrider

So you are attempting to understand the real estate position in Mumbai, but you are not clear in your mind the market picture of real estate in massive Mumbai? To help you, here is a preview of real estate market in Mumbai. Mumbai is going to be the town of the potential. According to the facts & figures, the real estate sector is growing at a blistering 30 per cent annually. Mumbai real estate is among the most expensive in the world - more than that of Tokyo or New York - and there is no shortage of those who can afford to pay. Some of the few successfully completed real estate projects in Mumbai are new airport at Navi Mumbai, New Suburban Trains Project, Bandra-Worli Sealink Project, Santacruz-Chembur Link Project, De -congestion of Prime CBD areas, Current Transportation systems, New Bridges Project, Sprawling Townships Project, Shopping Malls, IT Software Parks, Office complexes and development of Property investment proposition. Now, the city is undergoing redevelopment and restructuring. Various big real estate developers & constructors like DLF, Akruti, Parasvnath are bidding for the redevelopment of Dharavi which is Asia’s biggest slum and Mumbai’s biggest mess. Another interesting trend taking place in Mumbai is the remodeling of commercial spaces to retail spaces. With the property values of commercial spaces touching the sky, developers find it difficult to sell their commercial/office property. Hence, many of them are positioning their property as retail space in a hope to find more takers. Mumbai property market is a case in point. This market needs to be studied carefully as most the property trends arise from this market.

mumbaishah

Hmm..I understand the real estate market in mumbai but am trying to predict trends!

I have heard many around town say that all business will move to Bandra Kurla (even Navi Mumbai) and that the south - fort, nariman point etc - will lose out.

Perosnally, i'm not sure Bandra etc is that good or will change things that much. All major cities settle on one major centre - and I think it would be a shame if fort/fountain/nariman gets deserted.

meghasalunkhe

The Nariman Point commercial market continued its weak performance during the quarter. Capital values of mediocre quality office space witnessed a decline of more than 6% while those of premium office space such as Maker Chamber VI were relatively unchanged. Capital values at Nariman Point ranged between Rs 9,000 and Rs 14,500 per sq ft depending on the quality of the building. Demand for office space in the northern business districts of Bandra-Kurla Complex and Andheri-Kurla Road was relatively stable.
In line with capital values, rental values of office space in Nariman Point fell by 5-7% during the quarter. However, transaction volumes for rented office space in Bandra-Kurla Complex and Andheri-Kurla Road have picked up, keeping rental values stable.

regards megha

mumbaishah

Isn't 9000-15000 a little low for Nariman? I keep getting quoted in the 40000INR per sq foot region!

Whatever happened to MHADA redevelopment!