Rise Of Bkc As Mumbai Sbd

Bandra Kurla Complex (BKC) is the first in theMumbai have escalated.
string of new growth hubs that is being plannedBut with the supply side boom in Mumbai
by Mumbai Metropolitan Region Developmentcommercial real estate during the later half of
Authority (MMRDA) in Greater Mumbai to help2008 and in 2009, the commercial property
seize further concentration of offices andrentals, which have shoot off the roof, are
commercial real estate activities in South Mumbai.expected to calm down by the end of this year,
Bandra Kurla Complex, Mumbai's secondarysay industry experts.
business district (SBD), has office space of nearlyThe rentals in Bandra Kurla, which had nearly
12 million sq. ft. It is in close proximity to the newtouched Rs 450 per sq. ft, may possibly come
Diamond Bourse, which boasts of 1 million sq.ft ofdown to Rs 350 to Rs 375 per sq. ft, reveals
trading space.market sources.
The commercial development in BKC includesThere are several office projects on the horizon
private and government offices (state andin the CBD areas of Mumbai. Some of these
central), banks, wholesale establishments, etc. andoffice projects and are likely to be completed
eventually provide approx. 2-lakh jobs in thesoon in BKC, Goregaon, Andheri east and the mill
region.land developments in SBD.
Suburban Business Districts of BKC are festoonedMoreover, with MMRDA increasing the floor space
with sprawling malls and modish office buildings. Itindex in BKC from 1.53 to 4, one could anticipate
houses companies like Citigroup, IL&FS, ICICIadditional supply to enter the Mumbai commercial
Bank, Bank of India, State Bank of India andproperty market, which will help stabilizing the
number of financial institutions.office capital and rental values further, industry
Owing to high demand and limited new supplyreports. But the demand side is expected to
during the past few years the rental and capitalcontinue being robust, states Mumbai property
values for office properties in most parts ofagents.