The best decision for your company's future

If one looks at the commercial spaces in Mumbai over the years, it becomes apparent that they have moved away from South Mumbai. Dilawar Nensey, JMD, Royal Palms, Goregaon, has been meeting potential buyers of commercial spaces for the past few months, and he finds the fact a reality. "Mumbai's CBDs will gradually move away from South Mumbai," he says.



From Nariman Point Rs 30,000 per sq ft to Worli and Lower Parel and then onwards to the Bandra Kurla Complex (BKC) starting from Rs 25,000 per sq ft moving on to Andheri at Rs 15,000 per sq ft -- history shows that Mumbai's Central Business District (CBD) has moved northwards. "For a businessman or a corporate, it makes sense to buy land or commercial space in property which today may not be a full-fledged CBD, but shows the promise of becoming 'the' CBD of the future," says Rajan Karia, who runs a small scale industry unit. "It remains to be seen which one of the three SCBDsu00a0-- Kalina, Andheri-Kurla Road and Powai -- will actually achieve this status, and whether it can be a fourth location that ends up becoming the new CBD of the years to come," says Karia.

For example, all three locations mentioned as SCBDs are considered by real estate pundits to be over priced, and hence not having scope for value appreciation. "Similarly, the market perception is that such locations just might not have the vacant space to expand into a full-fledged CBD in the near future," he says. It is in this sort of a situation where an entirely new location needs to be taken into consideration. Royal Palm, Goregaon East for Rs 1,999 per sq ft on built up area is what Karia has opted for. "It has wide open spaces and verdant greenery amidst a cool and comfortable environment -- truly, the best location for a medium-sized business or a large corporate to set up shop."

Amit Joshi who runs a chartered accountancy firm, is very happy since he shifted to Royal Palms. "We got the location at a very attractive price, I would say it was better than anything else on offer for commercial premises," he adds. For his clients, most of whom are entrepreneurs, traders and businessmen, Joshi has no qualms in recommending Royal Palms as a commercial place.u00a0

u00a0Some of the companies which are already 'at work' or have just bought commercial property at Royal Palms include Tops Security, Kapole Advertising, Monarch, Prime Focus, T L Communication, Ruchi Infrastructure, Connect Star Networks Pvt Ltd and Essel Shyam Communication Ltd, among others. These are success stories that entrepreneurs would love to emulate!

It is here that Nensey wants corporates who are looking out for new headquarters or even back office spaces, to pick up parcels of land on which they can customise commercial spaces on a 'build to suit' basis. "It offers the flexibility of building what suits the organisation's requirements, and at a special offer price which is almost a steal. The current offer is a 'never again' sort, one that smart businessmen should take advantage of," says Nensey.

In addition, Royal Palms has recreational facilities like a health spa, golf club, recreational club, lakes , a man-made beach, swimming pool, cafeteria, shopping mall, five-star hotels, offices and more. This translates into a better work environment.

Keith Fernandes, who has recently moved his mid-size company's office to Royal Palms, concurs with Nensey's assessment. "For someone who had rented office space, Royal Palms offers a fantastic opportunity. At the same level as the rental, you can buy the premises and pay off the EMI. It becomes a win-win scenario like no other," he adds. So be wise and make a decision which will be in your company's interests, advises Nensey.