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What Should One Look for While Investing in Commercial Property in Mumbai?


Commercial property in Andheri
Commercial property in Andheri

Mumbai’s unprecedented growth story in the areas of housing, infrastructure, increased connectivity between areas in last decade has resulted in spurt in demand of commercial real estate.

With the shift of CBDs originally from Nariman point to BKC almost a decade ago, the Malad-Andheri belt in the western suburbs, Lower Parel-Prabhadevi-Worli axis in central Mumbai and the Thane-Navi Mumbai area in the eastern suburbs have emerged recently as newer several business and commercial hubs.

The reason behind the emergence of newer business districts is clear; being increased lifestyle living options for business communities to move out of one end of south Mumbai to be in proximity of new business hubs. Also, companies looking at low cost and large office spaces prefer the western suburbs especially Andheri East and Goregaon East belt for quality commercial space with price per sq. ft. ranging between Rs 15,500 – Rs18,500 sq ft., (outright) and Rs 95- Rs 130 per sq ft. (on lease). The commercial projects apart from offering best of amenities, more space, enjoy the USP of connectivity between various corridors within the city.

In case of Andheri East, the social infrastructural boost has helped this business hub to transform from a primarily industrial area, to a sought-after residential destination in Mumbai too, over the years resulting in increased demand for commercial space. From a region that was primarily known for the MIDC and SEEPZ, Andheri East belt has paved way to office spaces and IT hubs. Presence of the metro rail and its proximity to the Western as well as Eastern Express Highways, make it easy to reach any part of Mumbai. Moreover, it is also close to the international airport. In terms of social infrastructure, the area also boasts of hospitals, educational institutions, multiplexes, five-star hotels and numerous restaurants. Compared to Andheri west, the commercial property rates in Andheri east are quite competitive.

The increase in demand of residential space along the central and northern corridor of Western Express highway along with its emergence as a business hub led to the demand for an excellent commercial building with excellent connectivity in Andheri East. A major of branded developers are offering premium commercial space options on Western Express Highway. The Summit-Business Bay (TSBB) is located at a stone throw away distance from Western Express Highway and Metro station making it the most preferred office location in this micro market. TSBB a standalone commercial venture in Western Mumbai is another great offering from Omkar a brand known for product offering with unique USP being its location. In case of TSBB it is next to highway and close to Metro station.

Andheri East well-planned infrastructure projects be it highway corridors, metro network, hospitals, educational institutions, recreational facilities, luxury hotels, superlative connectivity. Also, the location has close proximity to airports and fastest connectivity to Western and Eastern corridors makes Andheri East a great destination for business offices and great working culture.

The Summit-Business Bay offers small, flexible & self-contained office spaces starting from 860 sq. ft. onwards. With a double-height grand entrance lobby and reception area, entresol level cafeteria, conference room, document centre, meeting rooms, and one dedicated car parking for approx every 1200 sq ft office space, The Summit-Business Bay ensures a world class business experience. With all business amenities working in cohesion, it is invested with one of the finest professional ecosystems. The grand single tower infrastructure soaring high on connectivity and accessibility is further characterized by 12 floors of office space spread over 5 lakh sq ft available at a starting price of Rs 1.46 crore. India will create a demand for 70 million sq. ft. commercial office space out of which Mumbai will lead the overall demand owing to better infrastructure.

A symbol of excellence, The Summit - Business Bay in Andheri is the perfect launch pad for the ambitions of a growing business. Your office space will have it all - superlative engineering, elegant designs, an air of opulence, flexible spaces and a strategic location. So get ready to move into an office that will become an identity in itself.

(a) Flexible large Office Space: At 'The Summit Business Bay', one can choose state-of-the-art business spaces with area ranging from 860 sq. ft to 50,000 sq. ft. Be it a shareable reception area, entresol level cafeteria, conference rooms, a Document Centre, meeting rooms or one car parking dedicated to every 1200 sq. ft. of large office spaces, the project offers great flexibility to offer a world-class business experience

(b) World Class Amenities: Realising the importance of passion that moves an employee to a whole new level of fulfillment and gratitude, the 'Summit Business Bay' has facilitated an excellent business environment by providing world class amenities, which include exquisite Business Center, a classic Rooftop Restaurant, Lush Podium Gardens, a Coffee Shop, and a Well-Equipped Gymnasium and Recreation Zone under one roof. It offers the finest professional ecosystem for businesses.

(c) Prime location with Good Connectivity: Travelling in Mumbai poses a big challenge. In a heavy traffic scenario, one may take upto two hours to travel to a workplace. 'The Summit Business Bay' is strategically located on the edge of the Western Express Highway in Andheri East providing unmatched connectivity via air, road, rail and metro train for both local and outstation movement. Why Andheri? The Western Suburb of Andheri (East) has rapidly transformed into a commercial hub housing large, medium and small-scale businesses. With the presence of Maharashtra Industrial Development Corporation (MIDC), Santa Cruz Electronic Export Processing Zone (SEEPZ) at Saki Naka, Andheri (East) has emerged as a 'must-to-be-in' destination for businesses across verticals.

1. Connectivity:
Andheri (East) is centrally located and well-connected to other major parts of the maximum city. Connected by highways like Jogeshwari - Vikhroli Link Road (JVLR) and NH - 8, it provides seamless connectivity to the domestic and international airports. The Sahar International Airport is just 4.1 kilometers from Andheri (East), while the Domestic Terminal 1C is 4.5 kilometers away. The Western Express Highway connects Andheri (East) to commercial hubs like BKC, Lower Parel and the Eastern suburbs of Powai, Vikhroli and Mulund. The Sahar Elevated Access Road (SEAR) is an elevated road, which will provide direct connectivity between the Western Express Highway (WEH) and the forecourts of Terminal T2 of the Chhatrapati Shivaji International Airport. Once the much - awaited 'Metro' between Versova Andheri (West) and Ghatkopar (West) becomes operational, it will further significantly reduce the travel time.

2. Infrastructure Facilities:
'The Summit Business Bay' has state-of-the-art infrastructure facilities, viz: making it an ideal
 Four Basement plus 12 storey, with Double-Height Grand Lobby
 Expandable self-contained modular offices
 Energy Efficient façade with double glazed sound and weather insulation
 Energy saving centralized water cooled chillers
 LED lighting in all common spaces, 550 plus car parks
 24 Hour Power Back Up Facility
 6 Passenger elevators plus two additional elevators and an additional service elevator
 Self-contained Washroom along with dedicated driver restroom
 Centralized Air Conditioning System
 Access control systems & boom barriers at entry and exit.

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