Rising Real Estate Prices In The Mumbai Suburbs

A couple of years ago, almost every MNC that setup shop in Mumbai would look to move to a swanky south Mumbai location such as Nariman Point. Welcome to today's world, most of these companies who shelled out boatloads of money for office space in a 40 year old building are now shifting to the suburbs. The land there is far cheaper and infrastructure is also a lot better. "Location and ease of access for employees was a critical factor in selecting new headquarters for the firm in Mumbai," said Mahesh Aras, JPMorgan's chief operating officer for India. "We are able to provide employees with ample parking, spacious dining facilities. A gymnasium is also being planned on the premises." UBS AG followed suit, moving to a planned commercial complex that was created to decongest south Mumbai. It is not only the banks that want to shift out of the fourth most expensive location in the world.

While the Consulate of the United Kingdom is already at the BKC, the American Consulate plans to shift its operations there too.

There is an obvious trend of MNC's, large Indian companies and consulates wanting to shift to the city suburbs which have been quite untouched until date. Was this anticipated by the government? The Mumbai metro, upon which work has already begun in the suburbs besides half a dozen or so new flyovers being built along with skywalks for pedestrians are all sprouting up in the northern half of the city.

The Special Economic Zone area in Navi Mumbai, clubbed along with Mumbai's international and domestic airports, both being situated in the suburbs has helped in developing this area of the city to maybe India's next commercial hub.

Speculation that the government further plans on using the sea as a mode to travel from one part of the island city to another. Mumbai may get its very own flyover on the Arabian Sea connecting both poles of the city.

How would all the above stated factors affect real estate prices in the most affordable part of the city in terms of real estate? How would you see the future of the real estate market in the city?

About the Author:
Moneyvidya.com is an Indian startup that helps you choose the best stock tips. It is done by tracking the performance of all the stock tips on several parameters like profits and consistency.

Article Originally Published On: http://www.articlesnatch.com

Tags: Real Estate

, SEZ

, Special Economic Zone

, UBS

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