Impact of Location on Office Rent in Andheri East
In the past few years, the Mumbai suburb of Andheri East has become renowned for its prime location, multiple connectivity options, and several amenities. It’s no wonder that this location has become a hub for corporate companies, start-ups and new ventures. Office goers and professionals love it for the ease of convenience to reach office, and companies love it for the cost-effective office solutions Andheri East has to offer.
Cost of an office space is entirely dependent on the specifications required by the client and the company. Let us elaborate on the factors that influence office rent in Andheri East, and offer up insights into the present situation of this real estate market.
1. Connectivity and Accessibility
Office prices skyrocket when there’s strong connectivity with South Mumbai and the suburbs. Andheri East is well connected by road, train and air. It’s at the heart of Mumbai city. Three main arterial highways provide accessibility to and from Andheri East – the Western Express Highway, the Jogeshwari-Vikhroli Link Road and the Andheri-Kurla Road. Furthermore, the accessibility of Andheri railway station, a significant hub on the Mumbai Suburban Railway’s Western and Harbour lines, facilitates commuter travel. Chhatrapati Shivaji Maharaj International Airport (T2) and Domestic Airport (T1) are less than 4 km away from Andheri East, making it all the more convenient for professionals who travel frequently on the job. Mumbai Metro Line 1 connects Versova and Ghatkopar, thus reducing the travel time and improving intra-city connections for commuters. This leads to an increase in demand for office space within the vicinity. Thanks to the convenience they provide, office properties near these transport hubs fetch higher rents.
2. Commercial Hubs and Business Ecosystem
Corporate parks and commercial hubs like Sakinaka, Marol, SEEPZ, and MIDC are located in Andheri East. These regions are home to a large number of IT firms, BPOs, multinational enterprises, and other companies, fostering a vibrant business environment. Office rents are often higher when they are located near well-established commercial hubs. Businesses prefer to remain close to these centres to avail the benefits of networking opportunities. Office spaces in SEEPZ and MIDC are getting higher rents compared to other suburban areas, and have become the hotspot for IT and technology companies. These zones have access to cutting-edge infrastructure and a qualified workforce, making them ideal for tech-driven firms. Due to the continued high demand for office space in these locations, the rental prices are usually higher.
3. Infrastructure and Coworking Office Amenities
New infrastructure has led to a transformation of Andheri East, from what was once known as a purely industrial and commercial area, to a highly sought after residential location in Mumbai. The surge in availability of amenities and modern infrastructure has played a huge role in establishing the value of office space for rent in Andheri East. Modern and contemporarily designed office buildings are equipped with advanced technology like AI drive high speed elevators. Coworking offices within these buildings include amenities like high speed internet, power backup, parking spaces, networking events, caféterias and more. Businesses seek workspace solutions that provide a comfortable, nurturing and efficient working environment to their employees. A coworking space in Andheri East adds to the appeal of such workspaces. One such coworking office is Connekt Coworking space in Andheri East. With luxuriously designed interiors, lavish open workspaces, 14+ amenities and economical pricing, Connekt Coworking space in Andheri East is sure to fulfil all your workspace requirements.
4. Proximity to Residential Areas
Office space for rent in Andheri East is significantly impacted by the location’s proximity to residential neighbourhoods. Office goers prefer to work at places close to their home to minimise their commuting time, and since the residential real estate in this area has boomed (Sakinaka, Chakala and Marol), the demand for office space for rent in Andheri East has skyrocketed. Companies are thoughtful about their employees, and understand how their lives are impacted based on where their offices are located. To ensure convenience for their teams, companies are open to paying a relatively higher rate for workspace solutions in such neighbourhoods.
5. New Trends in Real Estate
The Andheri East real estate market is dynamic in nature, with new trends shaping up frequently, which play a role in shaping office rents. Since the pandemic, there has been a market demand shift to coworking offices and managed office space solutions. Andheri East, being the central hub to corporates, small and medium businesses, start ups, and professionals, has seen a surge in flexible office solutions. Connekt Coworking space in Andheri East provides cost effective, luxurious workspace solutions, which enable a business to scale up and be on the growth path. Along with modern amenities like pool tables, networking events, lavish conference rooms and more, Connekt Coworking space in Andheri East offers a unique office solution with good pricing. The rise of coworking spaces has introduced a new dimension to the office rental market, and it’s exciting to see the demand for flexible workspaces increase.
It’s no doubt that the location of the office will impact the rent of the workspace. Andheri East is considered a prime office centre, and thus the high rental prices for offices located in this area. We would suggest going for a coworking space in Andheri East that will result in an amenity rich, affordable workspace solution for your business. The thriving environment of coworking offices will enable your employees to perform better, and result in better performance of your team and help your business grow.
If you’re on the lookout for coworking space in Andheri East, connect with us on +91 7567979000 or email us at mumbaisales@connekt.co.in We have many coworking offices in strategic locations across Mumbai, including Andheri East, Chakala and MIDC. We customise coworking solutions based on your specifications, and our lavish interiors and affordable pricing help you base your business in Andheri East in the best possible manner, resulting in a strong business advantage of being in the right place, with the right team around you.
