2017 was sluggish for properties in Mumbai and generally speaking for Indian properties as a whole for the year. However, Mumbai commercial real estate held up well with the office space for rent segment that drew the most attention on our property site and from the perspective of Jagaha.com’s commercial real estate advisor team.
For 2018, we wanted to highlight what is likely to be the most popular localities for users when searching for office space for rent in Mumbai.
This takes the cake and for the small geography that is Bandra Kurla Complex, office spaces in BKC are the most sought after. The corporates that have their offices for rent in Mumbai range from BNP Paribas to Google to Bank of America to Facebook – it’s truly the largest players in the world that have found the Grade A commercial buildings in BKC to be the best option in the entire City.
The part of Mumbai with the most vacancies combined with some of the most modern commercial buildings and plenty of them launching in 2018 is Andheri East. Andheri East is also located in Mumbai’s most populated residential area and there is certainly demand for those to not have to commute to other areas of the City to their work if you don’t have to! Office space for rent in Andheri East will likely be one of the most searched for in 2018.
The fire in Kamala Mills has moved office space for rent in Lower Parel below that of Andheri East, but it still makes the top three. The benefit of this area is all of the amazing post workplaces to go to and of course to meet clients as well! However, given the fire, many of these establishments have been shut and would expect them to be open later, but this makes this location slightly less attractive than before. With that said, office space for rent in Lower Parel are centrally located to access the likes of BKC and at the same time the Western Suburbs and “Town,” south Mumbai. To boot, there are many modern office space developments in this location that would appeal to corporates.
That rounds out the likely top 3 office space for rent locations in Mumbai in 2018. Others on the short list for 2018 would be office space for rent in Kurla, office space for rent in Powai & office space for rent in Fort.