Airoli rises as new business hub in Mumbai
Airoli, which is located far from the hustle and bustle of city, is now developing as one of the business districts of Navi Mumbai. Even lands are available at an affordable rate at this area which results in high demand for the commercial space which has boost up the real estate market in the area.
The property appreciation and demand-supply of the subcity tiggered up because of the ongoing commercial activities. Also, companies like Patni, Siemens and other small companies are commencing their business from Airoli.
The demand for office space is increasing rapidly and also the industrial belt on the Thane-Belapur Road also includes Airoli which is emerging as a secondary business district. In the past 3-4 months, the capital value of office space has witnessed an 8-12 per cent appreciation and there was more than 15 percent hike in the rental values of Grade A office spaces.
Airoli has commercial office projects such as Mindspace Airoli, Airoli Knowledge Park and Patni Knowledge Park. These projects are fully equipped with ample number of facilities to meet the international office space principal. The rental value of the upcoming office space varies from Rs 60-120 per sq ft per month. With this rental value, it will surely help the corporates to lower down their cost of operation.
A lot of developers are getting attracted because of the connectivity. The locality is well connected through Thane-Belapur Road and the Eastern Express Highway with the rest of Mumbai. The travelling time has reduced because of the Mulund-Airoli Link Road which is again an added advantage. All other industries are also planning to shifting their head office to the area.
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