Commercial Project in Mumbai - The demand for commercial property in Mumbai is high and investors from various parts of the country are interested in buying these spaces. If you are willing to buy Commercial property in Mumbai , you need to know the present condition of the market. Investors are interested in buying these properties, as the returns on selling commercial property in Mumbai are high. You can also rent off these spaces for high rates. Here, you will come across a detailed insight into the condition of commercial property in Mumbai.
Office spaces for rent in Mumbai
The prices of Office Space in Mumbai are high, and experts feel that the chances of rise or drop in price of these properties in low. The commercial importance of Mumbai is high and the demand for office spaces is on the rise. Several blue-chip companies are coming up in the city. Even after the demonetization in 2016, the demand for residential properties in Mumbai had dropped, however, the demand of commercial properties in Mumbai had not been impacted. The ‘Grade A’ office spaces in Mumbai are located in the prime locations. The rates of these office spaces are likely to slightly rise in the coming months. This is quite impressive, considering the performance of other types of commercial spaces in the city.
Office spaces for sale in Mumbai
The prices of office spaces for sale in the prime segment will remain the same as previous year. However, certain developers are providing discounts to the investors. The prices of office spaces for sale may be reduced to a certain extent. Although the demand for Commercial Space in Mumbai is high, the developers are coming up with good deals and discounts to sell these properties. However, only a few developers are providing these discounts. Evidently, the prices of commercial space for sale in Mumbai are likely to remain the same. Especially, the prices of ‘Grade A’ offices in Mumbai will not be much altered.
Commercial office space for resale
The resale value of commercial property in Mumbai has declined in certain areas. After demonetization, the resale value of commercial property has declined by 10-15%. The commercial spaces in the peripheral areas have suffered the sharpest decline in price. The prices of non-Grade A buildings have dropped significantly. The spaces in the key commercial zones have been less affected in recent times.
Retail shops for sale in Mumbai
The properties in the primary market in Mumba have been hit due to demonetization. The customers were in a state of uncertainty due to the economic policies. Besides, the cash crunch adversely affected the industry as people did not have the purchasing power to buy these properties. As a result, the sales of Commercial Shop in Mumbai slowed down a bit. However, the industry is recovering now and the market is slowly getting back to its normal health conditions.
