Office Space In Mumbai – An Excessively Expensive Choice

By Author: Abhishek Kumar
Total Articles: 106
Comment this article

Mumbai is one of the most prosperous cities in India. From both commercial and financial perspective, it is the heart and soul of the country. There is no wonder that the city is attracting entrepreneurs from every corner of the country to cache on the prospects and prosperity it offers. Amidst the scenario of industrial boom and buzz, what poses a problem for the businesses is scantiness of office space in mumbai. Land problem is so acute in the city that it has contributed to the skyrocketing prices of commercial properties. In fact, Mumbai is the most expensive city in India and also finds a rank in the list of costliest cities in the world.
Enclosed by water on its three sides, Mumbai comprises of seven islands. This kind of physical composition has left limited scope for expansion which is in turn, responsible for space constraint in the city. Mumbai is struggling hard to accommodate its surging population wave. Many people are migrating to the city to earn bread and butter and that is also adding to population bulge. All these are creating excessive demand for commercial property in Mumbai and making the space a ...
... more expensive asset for the city dwellers as well as those trying their luck in this metropolitan city.
No uniform price for commercial real estate
This is true for every city. Building cost vastly differs in the heart of the city, semi-urban and suburb areas. The most prosperous zones like Nariman Point, Bandra-Kurla Complex and suburbs like Andheri attract high prices so much so that even a small space like 150 sq.fit of will cost you a hand and leg. Furthermore, the land prices are surging almost every month due to increasing demand for workspaces to open up a new store or new franchise.
Fast transport facilities are one of the reasons why Mumbai is the most industrially developed city in India. However, you won’t experience the same standard in every nook and cranny of the city. Whenever you are looking for serviced office space in Mumbai, check the important location factors like parking facility, available transport choices, closeness to major transport centers etc. These factors make a strong impact on purchase price or rent figure of a commercial property in Mumbai.
Nowadays, the business houses are slowly making a shift to the suburban areas. This is because property prices are more competitive in those areas. The big wigs don’t find it difficult to afford a luxury accommodation in a high-rise of Mumbai but the same does not spell truer for a medium level commercial house. So when it comes to buying or renting a property in this busiest Indian city, one should think about his budget as well as other factors that will be conducive to his business growth.

Get more information on office space in mumbai & serviced office space