According to JLLâ€™s (a global real estate investment management services firm) Capital Markets Update, institutional investments continued the momentum during the first quarter (Jan-March) of 2021, registering 21% growth in volumes at USD 922 million.
Whatâ€™s remarkable in the above numbers is that the commercial office space drove the investment momentum even after the first wave of the pandemic. Commercial office assets dominated deals with USD 864 million transacted, translating into 94% of the total value in the first quarter.
This shows that the commercial office space is still in demand despite the growing clamour of work from home. Additionally, with the IT and ITeS (Information Technology enabled services) sector on a hiring spree due to massive business accruals, the demand for office spaces is bound to grow by leaps and bounds.
So, the question that arises is – which is the best place for commercial investments?
If you are looking for a good office space, the best place to invest is in Thane, Mumbai.
Thaneâ€™s real estate journey has been a work of decades, with the result that there are now several reputed commercial properties in Thane. Over the years, this satellite city has witnessed a spree of infrastructure developments, thereby catapulting itself to the position of one of the top hotspots for real estate investments.
Companies always scout for geographies where Grade A office spaces are available at competitive prices. Bandra Kurla Complex, Nariman Point, Lower Parel, Powai, Andheri East, today, command a premium over other micro-locations. To these names, we can now add Thane as well.
Already, some of the leading corporations like Tata Consultancy Services, Bayer, Raymond, etc. have their office spaces in Thane. Going forward, more companies are likely to follow suit as more commercial properties are enveloping Thane.
So, why are corporates choosing office spaces in Thane?
As Mumbai and its population grows, people too have started moving north, thereby creating a need to establish new business districts outside Greater Mumbai limits. This is why Thane, being centrally located in the Mumbai Metropolitan Region has an advantage over other micro markets.
Moreover, Thane is well connected with all the areas of Mumbai through the railways including western suburbs as well as those of Navi Mumbai, Bhiwandi, Kalyan and beyond. It is also quite accessible via a network of roadways, such asGhodbunder Road, JVLR, SCLR, Eastern Freeway, NH-8, Mumbai-Nashik Highway and theThane-Belapur Road.
Such easy connectivity makes it hassle free to commute within the city as well as to neighbouring areas in Mumbai. Moreover, the rising number of future infrastructure projects will only improve this connectivity! Work has already commenced on the metro line to link Ghodbunder road with South Mumbai, as well as Thane with Bhiwandi and Kalyan.
Thane is considered to be a network of many renowned educational institutes, recreational zones, hospitals, gardens and malls that cater to the current commercial developments. This is attracting more corporations to invest in commercial properties in this city. One such prime neighbourhood is the Thane Platinum Belt which houses an upcoming commercial property in Thane – Sheth Cnergy.
How is Sheth Cnergy as a commercial complex?
With office spaces that start from 570 sq feet, Sheth Cnergy is equipped to house both startups and large corporations. It has a grand design with a double facade glass that lets in optimum sunlight that is ideal for working. There exists a gargantuan lobby that first catches your eye, making for a luxurious first impression.
As a premium commercial complex, Sheth Cnergy emphasizes on wellness at work as it brings to you a holistic experience. It is an environment designed to not only give wings to your business but also allow you to breathe and create little moments for yourself while at work.
And if all one desires is a quiet break, the see-through glass allows you to enjoy an unobstructed view of the Mumbai skyline! The complex comes with even more amenities such as terrace Gardens, Cafeteria, a top notch security system, and more.
With Sheth Cnergy being in an under construction stage, Corporates looking for workspaces in Thane have the first-mover advantage as in the years to come, one stands to gain about 6% returns on their investment. Numerous corporate houses have already invested in Sheth Cnergy for their business address, in a major effort to bring office spaces closer to the working class.