Anuj Puri, Chairman – ANAROCK Property Consultants
Since Mumbai is the commercial and financial capital of India, almost all major Indian corporates, as well as leading Indian PSUs and MNCs, have their offices set up in the city.
Traditionally, Nariman Point in South Mumbai (the traditional Central Business District) was the preferred location for high-grade office occupiers, and therefore commercial office space investors.
However, today Bandra-Kurla Complex (BKC) has emerged as an alternative location to the traditional CBD. It has become more acceptable to MNCs as it offers a better-built environment. The Suburban Business District (SBD) in the North of Mumbai is also a major commercial office market.
Geographically, this micro-market contains all areas in Andheri, Jogeshwari and Juhu. However, a lot of the Grade A office buildings are to be found in the Andheri East area.
In the past, Andheri was known as a ‘suburban district’ which was absorbed by Mumbai city as Greater Bombay. It emerged as one of the prime residential and commercial real estate destinations.
Andheri East is a mixed land use precinct with some of the most prominent hospitality and industrial developments in its vicinity.