Andheri - Striking The Right Balance Between Commercial And Residential Spaces

Andheri is a famous suburb of Mumbai that has been and will always be one of the most sought-after areas whether it is for commercial real estate or residential real estate. While it has been well established in the past as to why people prefer residing in Andheri, the same reasons do stand true for the commercial sector too. The rates of commercial property in Andheri East is on the rise and one often wonders why. But before we get into the reasons for the spurt of upcoming commercial projects in Mumbai, let’s fully understand all the different types of buildings that can be considered as commercial real estate.
 

1. Office
 

The first and the most obvious one is that of offices. Any building that houses offices qualifies as a commercial building. In this case, one building can hold multiple offices, gaining a rent from each office or the entire building could house a single organization.
 

2. Industrial
 

When buildings are used as warehouses, garages, distribution centres, mills, manufacturer, they are tagged as industrial buildings. Depending on the scale of the industry, often these commercial buildings are situated a little away from the city. But in Mumbai, several structures in the film industry are located in Andheri-Goregaon area.
 

3. Retail
 

Malls, shopping centres or a brand store is considered as a retail commercial building. These are usually owned, managed and funded alone. But in some cases, individuals and brands lease these buildings.
 

4. Leisure
 

The last type of commercial building is the one that falls under the category of leisure and entertainment. This includes hotels, restaurants, cinema halls, resorts, theme parks etc. Various corporations usually invest in these commercial spaces as these are long running businesses, but they also cough up a sizeable sum of tax to the government.
 

Andheri, the most populated western suburb of Mumbai is made up of each of these types of commercial buildings. But the most unique aspect is that it has managed to strike a perfect balance between commercial and residential property, thanks to the millennials who wish to partake in the walk to work culture. So, as you can see, commercial and residential properties are mutually dependent, helping each other grow and flourish in any region.