Commercial Hub BKC Emerging As A Residential Sector

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Home gt Blogs gt Commercial hub BKC emerging as a
residential sector
Commercial Hub BKC Emerging As A Residential
Sector
Mar 2018
In Green Homes
Bandra Kurla Complex in Mumbai was initially
developed as a business district by Mumbai
Metropolitan Region Development Authority is not
witnessing several housing developments. It was
developed as an alternative central business
district to decongest South Mumbai. Over the past
decade, the area has tremendously grown as a
premium financial, commercial and residential
hub. BKC now homes numerous national as well as
international corporates, retail outlets and
consulates offices like the British High
Commission, US Consulate and the consulates of
New Zealand and Australia.
Connectivity and location, aid the growth of
BKC BKC is located centrally on the northern side
of Mahim Creek. It is bound by Kurla in the east,
Santacruz to the north and Bandra to the west.
Kurla and Bandra are prime railway stations on
Western whereas Central lines and Harbor of
Mumbai suburban railway. Also, BKC is connected
well to the Eastern Express Highway and Western
Express Highway and close to both the
international and domestic airports. In the
previous decade, commercial office stock has
grown over 300 in BKC. Its vicinity to the
airports and greater connectivity to eastern and
western corridors have made it the destination
for world-class businesses. BKC has properly
planned roads, numerous renowned schools,
hospitals, a diamond bourse, luxury hotels,
recreation facilities, and numerous restaurants.
The property rates in BKC range around
40,000-50,000 per square feet especially when it
comes to renowned developers. Property rates and
preferred configurations in BKC In spite of the
higher rentals, in range of Rs 225 to Rs 320 per
square feet, most of the corporates prefer BKC
owing to advantageous locations, availability of
Grade A stock and connectivity. The co-working
players are bullish on BKC due to higher demand
for the office spaces. The residential
developments have followed the commercial
development and numerous prime residential
complexes have come up in the area. Furthermore,
the presence of the social infrastructure and the
amenities have helped in maintaining great work
and life balance for inhabitants in the area,
which is the luxury in Mumbai. The demand for the
rental properties in high, majorly in one to
three- BHK segment. With BKC poised to become
next CBD of the dream city, Mumbai, expected the
housing sector to grow furthermore in and around
the area.
Infrastructure development in BKC Bandra Kurla
Complex boasts great infrastructural facilities,
excellent connectivity, civic amenities and
meticulously planned roads. The Santacruz-Chembur
Link Road has made commuting to central suburbs
such as Thane, Kurla, Chembur convenient and
Ghatkopar. According to the survey of the market,
there is demand for premium one and 2 BHK homes
wherein the preferences are much more towards
appealingly rates 1 BHK apartments, ranging
between Rs 1.10 Cr to Rs 2 Cr. Also, BKC stood at
15th position in top 50 rankings for the global
prime office spaces in the world. BKC is not
emerging as a prime business district in India
but also as the distinguished housing
space. Major infrastructure projects around BKC
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BKC has numerous resto-bars and fine dining
options. For shopping, Linking Road is close and
thus is Phoenix Market City MaLL in KurLa. A huge
mall is being set up in the BKC. BKC has
open spaces and ample greenery including Reliance
Jio garden, MCHI ground and MMRDA grounds where
international music concerts, festivals, events,
and exhibitions are held Two elevated roads
are planned to reduce the traffic on the SCLR.
One will be from MTNL junction in BKC and will
end close to the LBS Marg Flyover at KurLa and
the other will be fro, VakoLa Flyover close to
the Western Express Highway passing through
Kalina University junction to flyover on the
SCLR. The four-lane road from BKC to Chunabhatti
is being built as well. BKC has wider
pavements as well as clutter-free roads, with
easy access to parts of Mumbai through
Bandra-WorLi Sea Link, Western Express highway,
and Eastern Express Highway Proposed bullet
train will connect to Virar, Thane, and Ahmedabad
within 3 hours will have a station at BKC.
The proposed metro line from CoLaba to SEEPZ will
have a station at BKC.
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