Factors Driving The Growth Of Commercial Real Estate In Andheri
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A strategically located suburb in Mumbai,
Andheri is emerging as a real estate hotspot. While the residential sector is booming with premium and luxury properties,
the commercial sector is also following suit with the growth of offices,
co-working spaces, and retail outlets. Let’s dive into the reasons that explain
why Andheri is a real estate destination.
7
factors driving commercial real estate growth in Andheri
The real estate market is dynamic and is
influenced by various factors such as economic conditions, government policies,
and local development initiatives. Andheri, at present, is witnessing
exponential real estate growth and here is a run-through of a few factors
responsible for this growth.
- Connectivity
Andheri enjoys excellent connectivity with
other parts of Mumbai through robust air, road and rail networks. Andheri
railway station is well connected to western and harbour lines while the
Chhatrapati Shivaji Maharaj International Airport is just 7 km away.
- Presence of different industries
Andheri is home to myriad industries including
information technology, entertainment, media and finance. The presence of diverse
industries has increased the demand for commercial real estate in Andheri.
- Infrastructure
development
Ongoing infrastructure development projects,
such as the Mumbai Metro contribute to enhanced connectivity within Andheri and
to other parts of the city. Such infrastructure improvements attract businesses
and investors, leading to growth in commercial real estate.
- Multiple business hubs
Owing to its excellent connectivity, Andheri
has become a preferred destination for businesses paving the way for the
development of business hubs. MIDC in Andheri and proximity to
other business hubs such as Bandra Kurla Complex (BKC), Santacruz Electronics
Export Processing Zone (SEEPZ), and Lower Parel have earned Andheri a name in
the list of leading commercial hubs.
- Booming residential real estate
The growth of residential real
estate in Andheri has propelled the demand for commercial real estate
too. Individuals seeking work-life balance prefer offices in the same vicinity.
This inclination towards a balanced lifestyle has led to the development of co-working
spaces and mixed-used developments in Andheri.
- Modern amenities and facilities
The presence of shopping malls, restaurants,
hotels, and healthcare facilities enhances the overall appeal of Andheri for
businesses and employees. Such facilities positively impact the demand for
commercial real estate.
- Startup ecosystems
Andheri is a rising startup hub
that offers affordable workspaces along with a talented workforce. This makes
it an attractive choice for entrepreneurs. The trend of flexible workspaces and
co-working arrangements has been gaining popularity due to the proliferation of
small and medium businesses.
Andheri-Kurla Road, Saki Naka, Chakala, Marol Naka, SEEPZ, Western Express Highway, Mahakali Caves Road, and Chandivali are the popular commercial areas within Andheri. Choosing the right location for your business involves considering multiple factors like modern infrastructure, amenities, and connectivity among others. Andheri is the culmination of these factors and more, making it a lucrative option for investors.
Explore a host of commercial
properties in Andheri and select the one that fits your budget and
fulfils your needs. Discover commercial projects of all types under one roof on
our website. Compare prices, specifications and features to make an informed
decision.
Article authored by: Team Proptranxact
Date: 3rd January, 2024