Andheri East is emerging as Mumbai’s commercial hub
Andheri East has become the new commercial hub of Mumbai. The area enjoys good connectivity through Jogeshwari-Vikhroli Link Road (JVRL), Andheri Kurla Link Road, the Versova-Andheri-Ghatkopar metro link and it has benefited the markets of Andheri East.
Andheri East has a cost advantage over traditional commercial hubs such as Bandra Kurla Complex (BKC) and Nariman Point as the latter have been out pricing themselves. The commercial capital values vary between Rs 12000 – 15000 per sq ft and the lease rentals are in the range of approximately Rs 70 – 120 per sq ft per month.
There is a surge in demand in commercial offerings and planned commercial developments like the MIDC (Maharashtra Industrial Development Corp), Seepz (Santa Cruz Electronic Export Processing Zone), Sakinaka, Solitaire Corporate Park etc have benefited the commercial real estate in the area.
It has scores of firms across various discipline like IT and ITeS, manufacturing, financial services, pharmacy, jewellery, retail etc. The residential demand stems from service class working in various MNCs and IT companies.
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