Top Reasons to Invest in Commercial Property in North Mumbai
There has been a lot of fuss about investing in residential properties in Mumbai, as the sector is seeing a consistent hike in the past few years. But, the commercial property sector is also taking a leap in the city, as more and more entrepreneurs are willing to run their businesses in a thriving market.
North Mumbai, consisting of business-centric localities such as Kandivali, Mira Bhayandar, Malad, Borivali, Manori and others, are some of the prime locations to invest in commercial real estate. These localities are on the Western railway line and are part of the western suburbs.
On the residential front, North Mumbai is the region for average-earning individuals. Whether people seek to buy 1 BHK in Kandivali for sale or 2 BHK in Mira Bhayandar, they will get nominal pricing here in comparison to other localities of Mumbai. But, keeping aside the residential flexibilities, let’s get an idea of why it is an ideal region to invest in a commercial property.
1. The Rise of Commercial Hubs
There’s a great uprise of commercial office spaces around various localities of North Mumbai. Whether Malad, Borivali or Gurgaon, more and more MNCs are opening their offices in these localities. Considering that, several entrepreneurs are looking for great office spaces on rent to start their business operations on a large scale in a posh commercial hub.
Therefore, buying a commercial property in North Mumbai will keep you on the beneficial edge of getting a high rental yield. And it is pretty evident that the rental rates for commercial properties are always higher than that of residential properties.
So, if you are looking for 1 BHK in Kandivali for sale, with the purpose of investment and attaining financial security, then it is better you switch your investment plan upon buying a commercial property in Kandivali. Thus, your profitability will be justified!
2. The Amazing Connectivity
The best thing about the localities of North Mumbai is their seamless connectivity. There’s accessibility to rail, road and metro facilities for people to/from travel to different parts of the city easily. Thus, buying a commercial property in the region of North Mumbai will attract new and existing businesses to consider it a priority.
The WEH (Western Express Highway), SV (Swami Vivekananda) Road and Link Road are in close proximity to the North Mumbai localities, ensuring that working professionals can easily travel between two destinations. The ChhatrapatiShivajiMaharaj International Airport is also within a one-hour drive distance from the region.
3. Appreciation Value is Outstanding
The best reason why you should consider buying a commercial property instead of looking for 1 BHK in Kandivali for sale or in other parts of North Mumbai is the value appreciation over time. The average pricing for commercial property in most of the regions of North Mumbai is around Rs. 25,000 per sq. ft. But, this pricing trend has significantly increased by 5 or 6% every year. Thus, investing in a commercial property in North Mumbai will help you expect a great appreciation when you hold onto it for the long term.
Even if you rent out the property to a business for ten years and then decide to sell it, you will have earned a great lot of profit, way beyond what you invested.
So, these are the evident reasons you should count on while planning to invest in a commercial property in North Mumbai. Residential properties give you a good rental yield and ROI scope, but the stats are higher with commercial properties.
If you are willing to make a long-term investment with the expectation of high returns throughout life, put your money in a commercial property as your prime consideration. Irrespective of the kind of your property you want to buy, Blox is your one-stop platform for finding the best-in-class properties!
Blox helps you specify your preferred location, choose a budget and select between residential or commercial property types. Upon doing that, the property search engine will give you the best relevant results to count on!