Mumbai Commercial And Residential Realty Growth Complement Each Other

Mumbai, the finanacial capital of India grown as a favourite commercial destination for leading Indians and Multinational Companies

. Mumbai city was built in successive waves of migrations as ample job opportunities, effective connectivity via road, rail and air transport and multicultural environment accumulates the success of the city. In the last count of census 2011 Mumbai's population was 21 million increasing at an alarming rate has a mixed bag of investors and end-users that are on the lookout for the best deal in Real Estate Market of Mumbai.

A trend has been observed in the commercial markets with companies looking for alternative locations for much smoother business development were developers motivated towards a paradigm shift towards suburb development. Traditionally, Southern Mumbai like Nariman Point, Ballad Estate and Churchgate was the commercial hub having all major Government offices and headquarters of many leading Indian and multinational companies. Owing to this nearby locations like Colaba, Cuffe Parade, Malabar Hill, Altamount Road, Carmichael Road, Breach Candy, Napeansea Road, Peddar Road became the prime residential property locations in Mumbai.

In todays' world there is a high demand and less availability of land has led to an overload on the infrastructure provisions like power, water and so on but it is still a favourite place to live for expatriates and top executives of multinational companies. This is the major reason why the rentals of the residential property are highest in the whole of Mumbai. As today multinational corporate houses and BPOs is setting up state-of-the-art production units in the suburbs. Residential Real Estate of Mumbai in few areas such as Bandra, Santacruz, Andheri and Powai etc. have shown a record growth and some major residential leases and sale transactions in the last three quarters.

Last year many developers have launched there new residential property most of these property are luxury and super luxury projects in locations like Lower Parel, Bandra, Kalina, Andheri, Goregaon and Powai. The pricing of these residential property in Mumbai are depending on location and amenities provided in these project by the developers. There are some locations in Mumbai such as Bandra, Kalina, Goregaon and Andheri East in western suburb and Powai, Ghatkopar and Vikroli in central suburbs and Panvel in Navi Mumbai are growing fast as activity in commercial real estate is fuelling residential demand in these areas. These areas is now turning into a wealthy suburb, fast booming with infrastructure and recreation options by the builders like RNA, Runwal, Dheeraj are among others have started premium residential projects in this area making them an active real estate market location.

by: lokeshmanu24

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