by Mr. Ramesh Nair, Jones Lang
LaSalle India
Bandra Kurla Complex
is now one of the most strategic commercial & residential real estate locations in Mumbai -
and, in fact, in India.
This extremely
valuable location has gone from strength to strength ever since it was
reclaimed from useless marshlands hemmed in by Bandra in the West, Kurla in the
East & Santacruz in the North.
In fact, Bandra Kurla
Complex is one of the most amazing feats of reclamation urban renewal in the
history of Indian real estate. This is not an insignificant claim for a city
which itself was shaped from seven islands by the Hornby Vellard project in
1845.
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| Ramesh Nair, JLL INDIA |
Apart from its
tactical importance to Mumbai's most prominent corporates, who adopted it as an
idea alternate CBD location and shaped its imposing silhouette with glittering,
ultra-modern office complexes, BKC has also emerged as the most preferred
destination for foreign Consulates and trade offices.
It is already home to
the US Consulate, the British High Commission and the consulates of Australia
and New Zealand. And the trend is spreading.
Over the past 12
months, the consulates of Belgium, Sweden & France have also taken up
spaces in Mumbai's showcase commercial / or residential location. This is in
line with the increasing inclination of Mumbai's embassies and consulates to
shift to more convenient locations.
Currently, a number
of other consulates continue to operate from residential villas on Nepean Sea
Road and at Malabar Hill. These locations, though inherently high-profile on
the Mumbai real estate landscape, do not offer the kinds of buildings which
suit the precise needs of these establishments.
It will be
interesting for serious real estate observers to track the relocation trend,
which will doubtlessly cause more and more of the city's consulates to find
more suitable operating bases in the future.
Consulates have
specific requirements for the office spaces they opt for:
** High standards of fire safety and
security, with at least 2 exits from the floor and preferably one of the fire
exits providing direct access from the unit
** The premises should be at least 10
metres above the ground
** High-visibility buildings, with ease of
access and robust utility provision
** The shafts within the building should
be suitably secured to prevent unauthorized access
Key Drivers for BKC’s
Increasing Popularity With Consulates
** Excellent infrastructure and regulated
traffic
** Proximity to domestic and international
airports and the Western and Eastern
Highways
** Proximity to high-end residential areas
such as Bandra and the presence of Dhirubhai Ambani International School and
The American School of Bombay
** The presence of the MCA Club and the
Trident and Sofitel Hotels
** Hygienic surroundings, ample green
cover and open spaces (unlike many old projects in other locations in Mumbai)
Finally, and very
significantly, the newer commercial projects in BKC offer modern amenities and
better car parking ratios.
Commercial office
projects such as TCG Financial Centre, Maker Max City and Capital are among the
most sought-after destinations for consulates, given the availability of
smaller unit sizes, the high standards of building maintenance, better safety
& security features, high-quality finishes and energy efficient buildings.
About the author..!
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| Ramesh Nair, JLL INIDA |
Mr. Ramesh
Nair is Managing Director (West) at
Jones Lang LaSalle India
Ramesh Nair
COO - Jones Lang LaSalle India, Senior Management Professional in the Indian Real Estate Industry
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Mr. Arun Chitnis
Head – Corporate
Communications & Media Relations
Jones Lang LaSalle
India
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Corporate Plaza
Bund Garden Road,
Pune 411001.
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