| Bandra Kurla Complex (BKC) is the first in | | | | capital values for office properties in most |
| the string of new growth hubs that is being | | | | parts of Mumbai have escalated. |
| planned by Mumbai Metropolitan Region | | | | |
| Development Authority (MMRDA) in Greater | | | | But with the supply side boom in Mumbai |
| Mumbai to help seize further concentration of | | | | commercial real estate during the later half |
| offices and commercial real estate activities | | | | of 2008 and in 2009, the commercial property |
| in South Mumbai. | | | | rentals, which have shoot off the roof, are |
| | | | expected to calm down by the end of this |
| Bandra Kurla Complex, Mumbai's secondary | | | | year, say industry experts. |
| business district (SBD), has office space of | | | | |
| nearly 12 million sq. ft. It is in close | | | | The rentals in Bandra Kurla, which had nearly |
| proximity to the new Diamond Bourse, which | | | | touched Rs 450 per sq. ft, may possibly come |
| boasts of 1 million sq.ft of trading space. | | | | down to Rs 350 to Rs 375 per sq. ft, reveals |
| | | | market sources. |
| The commercial development in BKC includes | | | | |
| private and government offices (state and | | | | There are several office projects on the |
| central), banks, wholesale establishments, | | | | horizon in the CBD areas of Mumbai. Some of |
| etc. and eventually provide approx. 2-lakh | | | | these office projects and are likely to be |
| jobs in the region. | | | | completed soon in BKC, Goregaon, Andheri east |
| | | | and the mill land developments in SBD. |
| Suburban Business Districts of BKC are | | | | |
| festooned with sprawling malls and modish | | | | Moreover, with MMRDA increasing the floor |
| office buildings. It houses companies like | | | | space index in BKC from 1.53 to 4, one could |
| Citigroup, IL&FS, ICICI Bank, Bank of India, | | | | anticipate additional supply to enter the |
| State Bank of India and number of financial | | | | Mumbai commercial property market, which will |
| institutions. | | | | help stabilizing the office capital and |
| | | | rental values further, industry reports. But |
| Owing to high demand and limited new supply | | | | the demand side is expected to continue being |
| during the past few years the rental and | | | | robust, states Mumbai property agents. |