Picture Caption: Atul Second Avenue at Andheri East

·         Workplace leasing in Q2 2023 in Mumbai stood at 1.3 mn. sq. ft

·         Month-to-month leases in Andheri East at a mean of INR 125/sqft are steadily rising at 2.9% YoY

Mumbai (Maharashtra) [India], October 30: In the bustling coronary heart of India’s monetary capital, Mumbai, the actual property market is experiencing an unprecedented surge. Mumbai’s actual property sector has lengthy been hailed as one of India’s most vibrant, pushed by a posh interaction of elements which have fuelled its progress over the years. The town’s industrial actual property panorama is poised for yet one more exceptional chapter, characterised by escalating calls for and progressive developments. In accordance with the newest workplace report, ‘CBRE India Workplace Figures Q2 2023’, workplace leasing in Apr-June ’23 in Mumbai stood at 1.3 mn. sq. ft. Key sectors that drove absorption included BFSI (31%), know-how (28%), and engineering & manufacturing (13%) in April-June’23. The report additional highlighted that Mumbai workplace house absorption was pushed by medium-sized (10,000 – 50,000 sq. ft.) offers. Additionally, non-IT developments led the provide and absorption with 100% and 50% share, respectively.

Authorities initiatives geared toward infrastructural growth are additional propelling industrial progress, making a beneficial atmosphere for traders and companies alike. The Mumbai Metropolitan Area Growth Authority (MMRDA) has been instrumental in enhancing the metropolis’s connectivity, weaving an internet of new highways, metro traces, and transport hyperlinks. This enhanced connectivity not solely eases each day commutes but additionally opens up new areas for growth, setting the stage for unprecedented actual property enlargement. In a metropolis the place main micro markets such as Bandra-Kurla Advanced, Nariman Point, Decrease Parel, Worli, Thane, Airoli, Vikhroli and Goregaon are already witnessing industrial progress, Andheri leads the pack for industrial funding resulting from its strategic location and infrastructural upgrades.

Mr. Aakash Patel, Director of Atul Tasks, encapsulates the essence of Andheri’s attract as a industrial vacation spot, stating, “Inside the dynamic realm of industrial actual property in Mumbai, Andheri stands out as a hub of innovation and alternative. It stands tall as one of the finest locations to spend money on enterprise areas, the place each sq. foot echoes the promise of worthwhile tomorrows resulting from its rising market and advantageous location. The month-to-month leases in the space at a mean of INR 125/sqft are steadily rising at 2.9% YoY.”

We’ve got constructed some of the most elegant and iconic workspaces and our latest addition being Atul Second Avenue at Andheri East which is receiving a stupendous response from the traders alike.”

Situated at Andheri’s industrial hub SEEPZ-MIDC, Atul Second Avenue is an expensive workplace house in Andheri East constructed with lavish designs and avant-garde structure. It’s a landmark constructed to improve the means you’re employed day-after-day and to upscale your enterprise esteem. This industrial workplace house for lease is designed to raise the progress, productiveness, and profitability of each skilled. It provides the finest in customary facilities curated for professionals and enterprise aficionados of the metropolis. The industrial house hosts services like Panorama Backyard, air conditioned Double peak Entrance Foyer, Excessive velocity Elevators, 24 x 7 Energy Backup for widespread space with all day safety programs, adopted by 3 Stage Basement Parking, provision for sewage therapy and Eating places, Banquet Corridor, a financial institution & ATM.

What units Andheri aside is its distinctive connectivity, positioning it as a primary location for actual property funding. The latest introduction of the Mumbai Metro Traces 2A & 7 provides seamlessly connectivity and has revolutionized each day commutes, lowering journey instances considerably. Proximity to the Chhatrapati Shivaji Maharaj Worldwide Airport has turned Andheri right into a magnet for corporates in search of a strategic location, each for home operations and worldwide enterprise interactions.

Andheri’s seamless connectivity extends past metro traces, encompassing the Japanese and Western Specific Highways. Strategic roads like the Andheri-Kurla Hyperlink Street and the Jogeshwari-Vikhroli Hyperlink Street (JVLR) guarantee swift entry to the western and central suburbs, making it a really perfect alternative for companies and people alike. This accessibility issue has not solely lured corporates but additionally made Andheri a favoured alternative for these in search of handy dwelling choices in the coronary heart of the metropolis.

In a metropolis the place actual property alternatives are as dynamic as the metropolis itself, Andheri represents greater than only a location; it embodies Mumbai’s spirit of development and innovation. As the industrial actual property market continues its upward trajectory, Andheri stands as a testomony to Mumbai’s unwavering dedication to progress. In its bustling streets and towering buildings it guarantees a future the place each enterprise enterprise finds its house to thrive, making it a shining beacon in Mumbai’s ever-evolving skyline.

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