BKC new residential hotsopt in Mumbai

Q: Why BKC became new residential hotspot in MUmbai?

Pranab Malakar,

13th April 2015

Locality Review in Bandra Kurla Complex, Mumbai

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Replies (4)

Hi Nishant,
Bandra Kurla Complex usually known as BKC, which has appeared as the financial and business centre of Mumbai, is fast growing as a luxury residential hotspot as well, with select projects coming up in the nearly 1000 acre district.

Gauri Shinde, Pune

15th April 2015

Comment

Hi all,
How is the property market of Bandra Kurla Complex? Is there any new residential development happening in the locality? Kindly suggest.

Nishant Bhat, Mumbai

14th April 2015

Comment

Hi Pranab,
Due to large concentration of banks and financial institutions, besides diamond traders at BKC, residential property prices in the district are rising.

As per the local residents top bankers, diamond dealers and high net worth individuals, including NRIs from the Gulf, the US and the UK, are among the main buyers of luxury apartments in BKC.

The locality is less than 30 minutes from the Mumbai International Airport and south Mumbai.

Varun,

13th April 2015

Comment

Hi everybody,
I am a businessman and planning to buy a flat in BKC, Mumbai/ Can anybody tell me the residential property prices in and around BKC( including Bandra East and West)?

Anirudh Patel, Mumbai

13th April 2015

Hi Anirudh,
The average residential property prices in and around BKC including Bandra East and West, and the western suburbs are around Rs. 25000 to Rs 30000/sq-ft, luxury apartments at BKC sell at about Rs 40000 to Rs 60000/sq-ft.

Varun,

13th April 2015

HI Pranab,
After the Maharashtra government planned BKC as a finance hub and as an substitute to Nariman Point, it had also appropriated plots of land for a several residential projects, apart from a diplomatic enclave, hospitals and luxury hotels. With many top international and Indian financial institutions and banks having their businesses in BKC, and the Bharat Diamond Bourse, one of the worlds largest diamond centres, becoming functional. Also the requirement for luxury apartments has increased.

Aneek Das,

13th April 2015

Comment

Thanks Aneek,
How is the rental markets in BKC, Mumbai? What is the rental value per square feet for a month?

Pranab Malakar,

13th April 2015

WC Pranab,
BKC is amongst the costliest business districts in India, with rentals ranging between Rs. 300 and Rs. 350/sq-ft a month. Last month.

According to international property consultant Cushman & Wakefield, BKC ranks as the 8th most costly business district in the Asia-Pacific region.

Aneek Das,

13th April 2015

Well Aneek,
Why the price of residential property in the locality is soaring? Which kind of buyers are mostly seen in the area? How far is the Mumbai International Airport from the locality?

Pranab Malakar,

13th April 2015