Reality of Bandra Kurla Complex
Bandra Kurla Complex was created by MMRDA as an alternate commercial destination to Mumbai. Till now BKC has grown as a commercial real estate destination and real estate projects lined up in the region.
Currently, BKC has a total stock of 8 million square feet of office space. And an additional supply of 2.5 million square feet is expected in 2012.Over the last few years, BKC’s G Block has gained prominence as the key location within this unique micro-market.
Despite the economic uncertainty which continues to haunt the BFSI sector in Europe and the United States, BKC’s office market continues to grow in the property market in Mumbai.
Leasing and buying activity at Bandra Kurla Complex continued to accelerate during the last two quarters. The rent correction appears to be complete, with most existing buildings and new projects recording flat rates or slight increases over the prior quarter.
Various infrastructure initiatives like the Santacruz–Chembur Link Road will help adjacent areas around BKC such as LBS Road, Sion, Kurla, Kalina and Mahim to develop.
The upcoming projects in BKC are Jet Godrej office project, the Reliance headquarters-cum-convention centre, Wadhwa’s C66, Kotak’s headquarters, Enam’s new building and luxury hotels and mall.
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No Sign of Reduction in Mumbai Property Price
Source: Daily Bhaskar
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