Commercial Leasing In Mumbai

Along with the capital hub of the country Mumbai city is also deemed as the commercial hub of the country

. This calls for a lot of commercial in the city. Hence a major part of Mumbai real estate is dominated by commercial properties. Centrally positioned areas like Bandra Kurla Complex, Worli, Powai, Nariman point etc are all full of commercial components, as these places are well designed as far as infrastructure and transportation are involved. The fast rising business spaces have now been spreading to Mumbai suburbs like andheri & malad from south mumbai for various reasons like the proximity of household spaces of the manpowerfunctioning in such firms & the availability of spaces to develop the required infrastructure at cost-effective rates as in contrast to south mumbai.

A lot of MNC'S with diverse dynamics of corporations like banking & financial institutions (FII's), Shipping firms, manufacturing firms, hospitality etc have occupied enormous amount of space in the metro city mumbai. Commercial property in Mumbai majorly are made up of industrial areas, warehouses, corporate offices, Gala, shops etc.

Commercial leasing and Residential leasing being two different factors in the real estate vertical are diversified in case of legal aspects, pricing and time span for which they are taken on lease in respective cases. Residential property in Mumbai is generally taken for a short period of time for instance the agreement is usually made for 11 months on leave and license foundation as in contrast to the commercial spaces are taken for a span of 3 years to 5 years on lease. Corporates usually desire commercial space on lease because it more economical as compared to purchasing commercial space on outright in a city like Mumbai.

Certain factors to be thought of before binding to a commercial property in Mumbai are as follows:

Cost: Consult an acceptable realtors who can assist you a pricing of property in the area you are looking out for.

Traffic: In case of commercial space depending upon the type of business you acquire take into consideration the traffic produced by a specific area. In case of companies like restaurants boutiques etc you may call for a property in an area which produces high visitors as in such kind of businesses the footfalls essential are high. Hence decide on an proper area which will generate great traffic depending upon the dynamics ofbusiness.

Amenities: The property should have good volume of amenities / infrastructure as essential for your business. For example a good ventilation, electric supply etc.

by: Vitruvian

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