Buyers continue to be attracted to India's real estate sector. According to industry professionals, renewed investor interest has resulted from an attractive appreciation potential, recurring rental income, and the measurable nature of the real estate industry. They presume that commercial real estate is preferable to residential real estate because it provides higher rental yields. Office spaces in Andheri are once again becoming the most popular commercial segment.
Significant investment in office spaces in Andheri is favoured over investing in residential property because the aforementioned provides high rental yields. Office spaces in Andheri are once again becoming the most popular commercial segment. As the pandemic has subsided and a more hospitable growth environment has taken hold, office demand is rapidly increasing in most major cities. Most businesses are vigorously implementing back-to-office initiatives, which has resulted in a significant increase in office intake. As a result, investors are building confidence in the asset class.
As the workforce continues to change and adapt to changing needs, flexible office space is expected to skyrocket in 2023. A growing number of businesses and entrepreneurs are embracing these adaptable, cost-effective alternatives to traditional office space. Furthermore, as the workforce becomes more varied and capable of adapting, office spaces become increasingly important. Companies require office spaces that are easily personalised and reconfigured to encompass changing employee demands and work style. As a consequence, investors and developers see adaptable office spaces as a likely candidate for acquisition and growth.
Furthermore, most people are attempting to return to work for a multitude of causes, such as family size, smaller homes (in metropolitan areas), and unstable internet connections. Adaptable work spaces have become a reliable option for employees and businesses because they allow for independent flexibility and will determine the future of the office spaces in Mumbai in the coming years.
Raiaskaran Group has some of the most sought-after real estate properties, including office spaces in Andheri. Their business centres house some of the most spacious office spaces in Andheri and the amenities available to employees are an added bonus. Raiaskaran Tech Park (formerly Logitech Park) serves the country's biggest conglomerates and their Information systems needs. Tech Park by Raiaskaran Group has been named one of Maharashtra's top professional private IT parks, and it has received high praise from its old clientele for some of the well crafted office spaces in Andheri.
1. What is the average cost of office space in Mumbai?
Ans. The average cost of office space in Mumbai can vary depending on the location, size, and amenities offered. However, on average, the cost can range from Rs. 70 to Rs. 300 per square foot per month for commercial office space in Mumbai.
2. What are some popular locations for office space in Mumbai?
Ans. Some popular locations for office space in Mumbai include Bandra-Kurla Complex (BKC), Lower Parel, Andheri, Nariman Point, and Worli. These areas are known for their well-developed infrastructure, good connectivity, and proximity to commercial hubs and office spaces in Mumbai.
3. What types of office spaces are available in Mumbai?
Ans. There are a wide range of office spaces in Mumbai including serviced offices, co-working spaces, and traditional office spaces. The office spaces are available in different sizes and configurations to suit the needs of various businesses.
4. What are some of the amenities available in office spaces in Mumbai?
Ans. Office spaces in Mumbai offer a wide range of amenities such as high-speed internet, power backup, parking space, 24-hour security, conference rooms, and pantry services. Some office spaces may also offer additional amenities such as gyms, lounges, and recreational areas.
5. What is the availability of public transport in Mumbai?
Ans. Mumbai has a well-developed public transport system, including buses, suburban trains, taxis, and auto-rickshaws. The city also has a metro rail system that connects different parts of the city. The city is also well-connected to major roads and highways, making commuting easy and convenient for people working in these office spaces in Mumbai.
