Mumbai people shifting home closer to new office locations
As the companies tighten their rent of outflow and shift offices to new areas, it seems to be causing a transfer of housing realty as well. In Mumbai which is the world’s 16th costliest city to buy a home in, the luxury housing boom has spread to new locations like that of Lower Parel, Worli and Mahalaxmi, rather than the other conventional premium locations like that of Cuffe Parade or Peddar Road.
According to a global survey of 80 top luxurious residential markets conducted last year by Knight Frank. As mentioned in the survey that was held last year most of the corporates, brokerages and financial institutions have over the last few years moved their offices from Nariman Point, Cuffe Parade to areas such as Lower Parel, Bandra Kurla Complex (BKC) and beyond to suburbs like Andheri and Malad.
Many other corporate houses like that of the US Consulate and the Diamond Market have also moved to BKC. Looking into the traffic conditions in Mumbai, people are looking forward to move to residential areas which are closer to the new work places as the analysts have found in the survey.
Source: Hindustan Times
Andheri, Bandra-Kurla Complex, Lower Parel, Mahalaxmi, Malad, Worli
