Due to its direct connectivity to Mumbai major business destinations such as Bandra-Kurla Complex (BKC), Kalina, CST Road, Jogeshwari-Vikroli Link Road, the real estate around LBS Marg is buzzing with activity. Both commercial and residential properties sell like hotcakes in the region.
Not just LBS Marg, Mumbai properties around Ghatkopar, Powai and Vidyavihar are also seeing a sharp increase in demand.
The availability of upper road infrastructure connecting to the Eastern Express Highway has further fueled growth in the belt and this has resolved connectivity issues between the eastern and western suburbs.
Also, the Sakivihar highway connects Andheri, and from the Eastern Express Highway people can easily drive to Airoli, Vashi, Ghatkopar, Chembur and Sion.
The real estate around LBS Marg is truly quintessential to how infrastructure drives property values in a market.
The first proposed metro train on the Versova-Ghatkopar route is one of the reasons for the momentum in real estate development in the region. Ghatkopar, Vikhroli, Kanjurmarg, Bhandup and Mulund train stations are all within a disposable distance from LBS Marg.
Meanwhile, the IT and ITES sector drives commercial properties around LBS Marg. Financial, banking and management consultancies and even premium hotel specialties are aggressively searching for land around the LBS Marg belt from Ghatkopar to Thane.
Large corporations such as Wipro, Accenture, CapGemini, WNS Spectramind, ICICI Prudential, HCC, Colgate Palmolive, CIPLA, Johnson & Johnson have already established their base in the region and there is quite an impressive demand for Grade A quality office space.
However, property values are still much lower than in places like BKC, and this is something that is driving the demand curve in the area. According to sources, the rental rates here in this region are Rs 50-200 per square meter. ft against Rs 200-Rs 350 per square meter. feet from BKC.