Released on: March 2, 2008, 11:17 pm

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: After Bandra Kurla Complex (BKC) and Lower Parel, the focus
of Mumbai commercial real estate markets is now shifting to suburbs like Parel and
Thane. According to property consultants, these areas in close proximity to
residential hubs and there is quite an adequate availability of desired floor space
at affordable prices.

Press Release Body: After Bandra Kurla Complex (BKC) and Lower Parel, the focus of
Mumbai commercial real estate markets is now shifting to suburbs like Parel and
Thane. According to property consultants, these areas in close proximity to
residential hubs and there is quite an adequate availability of desired floor space
at affordable prices.

Says Abhishek Lodha of Lodha Group, a Mumbai-based real estate developer, \"BKC and
Powai are enjoying impressive demand as the vacancy rates at Central Business
District (CBD) of Nariman Point are equal to nil. Today, hardly any company gets a
25,000-sq. ft of space to launch its operations from Nariman Point. Therefore, most
of the business conglomerates prefer a front office at the CBD and their back office
operations centre at other emerging areas, and Navi Mumbai is one of them.\"

Being the financial capital of the country, there is a rising demand for commercial
real estate in Mumbai. We have already commenced construction at Kanjurmarg and are
in advanced stages of planning on five more projects. We will dedicate over 25 per
cent of our current land bank to commercial projects and have currently planned an
investment of about Rs 2,000 crore for ithink projects, he informed.

Navi Mumbai properties

Navi Mumbai Real Estate is enjoying bullish attitude of real estate developers and
business houses. The Reliance Group has already announced to construct a huge 4,000
hectare Special Economic Zone (SEZ) in the region and about 7-lakh square feet of
commercial space will be added to Navi Mumbai properties by the end of 2007.

\"The kind and size of infrastructure projects that are under development in Navi
Mumbai have potential to generate massive demand for commercial real estate in Navi
Mumbai, let\'s see what happens in future,\" says a property agent dealing in Navi
Mumbai properties.

As per magicbricks.com studies, the office space rentals in Navi Mumbai are in the
range of Rs 40-75 per square foot, at present.

For more information Mumbai Real Estate log on
-http://www.magicbricks.com/property/city/p/p p!ct

Web Site: http://www.magicbricks.com/property/city/p/p p!ct

Contact Details: george.gonigal@gmail.com