Bandra – Kurla Complex is new destination of Industrialists, HNIs, Big names of corporate

Uber Luxury apartments in Bandra – Kurla Complex

BKC (Bandra – Kurla Complex), which is turning to be the next leading commercial business districts in Mumbai, is now also the residential hub of HNIs (high-net worth individuals), industrialists and other big names of corporate, as they are booking their ultra- luxury apartments. As per the reports, these people are paying between Rs. 35 crore to Rs. 60 crore for uber – luxury apartments in the Bandra – Kurla Complex, however; some other high ended residential projects are demanding the value of Rs 55,000 per sq ft.

Ultra-rich buyers, who booked their apartment or duplexes in Bandra – Kurla Complex:
The few names who have booked their dream duplexes in BKC (Bandra – Kurla Complex) are; Vikram Pandit Co-CEO of Deutsche Bank for Asia/Pacific, Nimesh Kampani, Kishore Lulla from Eros International, Gunit Chadha, Chairman of JM Financial, Harsh Mariwala from Marico, Ashok Wadhwa from Ambit Holdings, Jalaj Dani from Asian Paints and Gautam Adani Ex head of Citigroup. It is also noticed that the Surat – based diamond merchant , Hitesh Patel, who was the highest bidder for the suit of PM Narendra Modi booked their choice of apartment in BKC, CEO of Citi India, Pramit Jhaveri and MD and Country Head of Credit Suisse Mickey Doshi are among those who have booked their duplexes in BKC (Bandra – Kurla Complex).

Most of the ultra-rich buyers book their luxury duplex in Bandra – Kurla Complex not for investment, but for living and staying here due to the strategic location of BKC. All the ultra-luxury flats in Signature Island, among residential projects which was constructed and build by Sunteck Realty in the Bandra – Kurla Complex’s G Block. However; these apartments are coming in two different sizes as the bigger one is of 11, 000 sq ft whereas; the smaller one are about 7, 000 sq ft.

A report from Cushman & Wakefield, said that presently BKC doesn’t have enough residential developments due to lack of ultra rich buyers. Whereas; the corporate clients of BKC can be identified by their high-income that ranges from mid management people to high management people from top level organizations. In shot we can say that this is class of people who have much more purchasing power than anyone else. It can be noticed easily if you are working in BKC commute and you are coming here from far-flung suburban areas or south Mumbai or central Mumbai,. so it will take two to three hours in travel on daily basis and this can be main reason why real estate developers are developing high – end housing units in BKC, but still some of the real estate developers has not tapped the complete demand of residential space in BKC.

The report also stated that, once develop as ultra rich destination, so it will becomes the house address for ultra rich corporate people and it will also serve the sub – markets of Mumbai such as Worli, Thane and Bandra. It is central location and has easy connectivity with other parts of Mumbai including both south and north Mumbai. However; there is gapping difference between the number of residential units which is launched in BKC and non-BKC location. Approx. more than 4, 300 residential housing units have been launched in the catchment area which includes non-BKC as well as BKC area of which only 220 units belongs from BKC.