Commercial Property on the move in metros

With economy is marching ahead of its time, BSE has crossed 9000 mark and FDI door opened, there is new rising trend in purchase of commercial properties, all over the country. 

By Staff Reporter

There is definite buoyancy in commercial properties in all the metropolitan cities in the country. The demand is still mainly from I.T companies, but newly opened insurance sector is also looking up to acquire commercial properties. The other major purchasers are from retail sector who are on the spree of opening of shopping malls in all the metro cities of India.

In Mumbai, the demand for commercial areas is shifting from south Mumbai to northern suburbs. The Central-Business-Districts of Bandra -Kurla and Andheri – Kurla are attracting corporates due to the availability of large floor spaces. In comparison, Andheri-Kurla stretch, specifically Marol and Sakinaka areas are getting more saturated with offices in industrial estates. Due to the static supply of commercial spaces in Mumbai, demand for new business districts is picking up. Worli-Prabhadevi areas in south Mumbai and Malad link road in north Mumbai are the latest destinations of commercial property development. 
According to the latest report of real estate adviser Brooke International, commercial development in South Mumbai has reached saturation point and therefore prices will remain stable, despite the depreciation in value from the point of view of investors who feel that investing in these areas ensures a regular flow of income. This is primarily because it continues to be in demand from banking financial sectors.

Delhi, it seems have an edge over Mumbai in demand for the commercial property. According to IDC India’s opportunity index, Delhi has been rated as the city with highest market potential. Small and medium commercial spaces are much in demand. Connaught Place, the prime CBD of Delhi, has started to experience increasing activity in buying commercial spaces. The other areas where commercial spaces are being developed are Noida and Gurgaon. Both these areas are attracting corporates, small and medium enterprises, insurance companies and I T companies. 

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