Apart from the glamorous lives of Bollywood celebrities, the city of Mumbai is known for its vibrant street food, busy markets, historic buildings, and impressive residential and commercial real estate infrastructure. These buildings showcase the perfect environment for corporate growth. Recently, there’s been a significant increase in the construction and demand for commercial complexes in Mumbai.
In fact, from January to March 2024, Mumbai absorbed 2.5 million square feet of office space. This was the second-largest absorption rate among the eight major cities in India.
In Mumbai, with so many areas to choose from, selecting the right location can feel overwhelming. To streamline the process, focus on your priorities—whether it’s proximity to clients, partners, or key areas of interest. Once you know your needs, you’ll find it easier to narrow down options, helping you make an informed decision.
In this blog post, we will go through the seven best commercial areas in Mumbai that could be ideal for your business.
Best Commercial Spaces in Mumbai
Let’s have a look at the top commercial hubs in Mumbai:
Nariman Point
Nariman Point is a popular business location due to its many advantages. It is regarded as Mumbai’s top business location due to its prime location and prestigious business setting. Many financial institutions and corporate offices are located nearby, making this place ideal for investing in commercial hubs.
Also, the beautiful view of the surroundings adds a touch of elegance and calmness to your corporate office. It is one of the posh locations with excellent infrastructure for conducting business activities in Mumbai. If you are looking for long-term success in commercial real estate, then Nariman Point is an excellent option.
Powai
As it becomes a thriving IT centre, Powai, one of Mumbai’s most well-known commercial hubs, is quickly becoming known and providing investors with a range of office spaces.
It now caters to different business needs and provides an environment loved by all. Also, the greenery around changes the aura of the office spaces making them look quite luxurious. Not only this, Powai also has seamless connectivity to other parts of Mumbai, which leads to easy business operations and handling.
Mira Road
Budget plays an important role when you decide to invest in commercial hubs, especially in a metropolitan city. Mira Road can fit perfectly if you want to invest in budget-friendly commercial areas in Mumbai. You will get the best deals on rental rates for commercial complexes on Mira Road than in other parts of Mumbai.
Also, this area is rapidly developing, with a growing residential population that is driving an increasing demand for businesses. If you want to invest in an ideal location for commercial office space in Mumbai with top amenities, then Mira Road is the perfect option.
AsmitA Grand Maison is one of the top commercial projects on Mira Road under construction that you can choose for a vibrant and dynamic experience.
Worli
Worli is a premium location in Mumbai with rising property prices. The real estate area is gaining everyone’s attention as the top commercial property for sale in Mumbai. This makes Worli the best choice for investing in commercial hubs. With many businesses already established here, Worli provides excellent networking and growth opportunities.
These advantages have made the area a convenient and attractive option for companies and clients. Moreover, recent developments such as the Mumbai metro aqua line will make Worli more attractive for commercial investment.
Andheri
Andheri is a popular area in Mumbai that has recently emerged as one of the top commercial hubs. The increasing number of corporate offices and growing demand for co-working spaces have also contributed to the rapidly evolving commercial real estate.
In Mumbai, this place is highly convenient for businesses with frequent travel needs or who are dealing with international clients because it is located near the airport.
In Mumbai, Andheri has recently become a go-to destination for start-up companies and entrepreneurs. Developers of commercial hubs in this area are increasingly focusing on the latest trends and innovative office designs.
This makes Andheri one of the forward-thinking commercial hubs for companies looking to align with sustainability in Mumbai.
Bandra Kurla Complex (BKC)
Bandra Kurla Complex (BKC) has become a major business hub in Mumbai. This has made many companies move from crowded South Mumbai areas to BKC for better office spaces and smoother operations. Companies are choosing BKC because it offers larger office spaces, allowing them to bring together employees from different locations into one central office.
BKC in Mumbai is also close to domestic and international airports, making it easily accessible. The area has seen impressive infrastructure growth, with better roads and improving connections with other parts.
Lower Parel
Lower Parel has transformed into a busy business hub in Mumbai. It is centrally located, with strong road and rail connections to key areas like Worli and Nariman Point, and just 20 minutes from the international airport.
This makes it a preferred location for working professionals and companies in Mumbai. Many multinational companies and financial institutions have set up offices here.
Lower Parel’s modern office buildings and proximity to posh areas like Worli and Dadar have boosted property values in Mumbai. The high growth potential in property values makes it a smart choice for commercial property investment in Mumbai.
Things to Consider While Buying Commercial Space in Mumbai
Here are some factors you should keep in mind when buying commercial hubs in Mumbai:
Laws & Regulations
Understanding Mumbai’s zoning laws and FSI is essential before making an investment. Certain areas have restrictions on the height or size of buildings in Mumbai. This could impact your future development potential.
FSI regulations vary between zones. So, try to gather as much information as you can before making any decision. This can influence the overall shop spaces you can use for your business.
Future Infrastructure Projects
Existing infrastructure is essential when selecting commercial hubs in Mumbai. However, you must also take into consideration upcoming projects like metro expansions, new flyovers, or connectivity upgrades.
These can increase property values in the future, and you can make a huge profit. It’s a brilliant way to invest in a more valuable asset that will help you make more money.
Parking Space Availability
Parking is often considered a premium facility in Mumbai. Commercial hubs with ample parking space can attract higher rent from tenants. Lack of parking in shop spaces can make you lose tenants or customers. AsmitA Grand Maison in Mumbai offers designated parking places for both retail and office premises, making it convenient for both tenants and guests.
Foot Traffic and Visibility
Foot traffic and visibility can heavily influence the success of certain businesses. Assess whether the property is in a high-visibility area or located along a busy street. This can help boost your business profits.
Digital Connectivity
With increasing reliance on digital operations, ensure the commercial property has a strong internet infrastructure. Businesses now require high-speed internet and reliable communication lines. These are becoming key to attracting quality tenants.
Property Ownership History
Dig into the property ownership history and verify that all legal clearances are in place. In Mumbai, some commercial hubs have been built without proper clearances, leading to disputed land titles or legal complications. It’s crucial to conduct thorough research while searching for commercial space for sale to avoid potential future legal issues.
Bottom Line
To succeed in selecting the perfect commercial property for investment in Mumbai, you need to gather all the necessary information. Try to acknowledge the factors mentioned in this guide to prevent mistakes and improve your chances of success. Following the right plan and mandatory steps, investing in commercial hubs in Mumbai can be a highly rewarding decision.
If you’re looking for the best commercial places in Mumbai, we at AsmitA India Realty offer great value deals. With years of expertise, we provide spaces that meet all your requirements. Contact AsmitA India Realty in Mumbai and make sure you get your hands on the top commercial hubs in the city.
Frequently Asked Questions
What are the important factors you shouldn’t ignore while searching for commercial property for sale in Mumbai?
The factors may vary depending on your specific needs. Key considerations such as location, parking availability, digital connectivity, and clear property ownership are crucial when searching for commercial property for sale in Mumbai.
Why should I choose AsmitA India Realty for commercial spaces in Mumbai?
AsmitA India Realty in Mumbai provides access to premium commercial developments with robust infrastructure, whether you are looking for a boutique office space or a larger layout. Our shop and office spaces, located in the heart of Mira Road, offer a relaxed environment for recreational activities and higher visibility for brands.
Additionally, AsmitA India Realty prioritises optimizing return on investment while maintaining a hassle-free experience for our clients.
Which area is best in Mumbai for commercial properties?
Popular areas in Mumbai include Bandra Kurla Complex (BKC), Mira Road, Andheri, and Worli. Investing in a property on Mira Road is a perfect choice, as the price of commercial space for sale in Mumbai is expected to double.
