Thakur Village is a renowned residential neighborhood in Kandivali East, Mumbai. However, over the years, it has transformed into a thriving commercial hub owing to its strategic location and robust infrastructure. Prices for real estate in the area have increased significantly, as have the number of recently built commercial buildings, including offices and stores.
According to recent data, out of 146,583 sf of office spaces, 10,795 square feet were leased in the last 12 months and 3,513 square feet were sold. The average rental per square foot is Rs.100.4
What Makes Thakur Village a Thriving Commercial Hub?
Thakur Village’s advantageous location, strong infrastructure, and smooth communication contribute to its success as a business center. The locality has become a thriving business hub due in part to the construction of large commercial developments and office spaces. Let’s take a closer look at the elements that have contributed to Thakur Village’s growth.
Excellent Location and Connectivity
Thakur Village in Kandivali provides good connectivity both within and outside the building. It’s a prominent commercial location as a result. It is located beside the busy Western Express Highway and changes into NH 8 (Mumbai-Ahmedabad) as it leaves the city. Several convenient entrance points to the area guarantee easy access and departure.
The area is equidistant from Kandivali and Borivali railway stations. These are key stops on the Western Railway’s suburban network. Borivali also serves long-distance trains. Proximity to the highway allows quick access to Mumbai’s domestic and international airports. It also enables access to MSRTC’s Mumbai-Pune buses from nearby depots.
Public transport is well-established. BEST buses connect Thakur Village to key railway stations and business hubs. Internally a 120-foot wide cement-concrete road and a network of well-planned roads ensure efficient traffic flow. This enhances the area’s appeal as a commercial hub.
Infrastructure and Developments
Kandivali’s Thakur Village is a highly populated residential area renowned for its strong urban development and infrastructure. Since the late 1990s, there has been an increase in the number of residential complexes in the area, which is east of the Western Express Highway.
The infrastructure in the region has excellent connectivity and is well-planned. Its location along the Western Express Highway is ideal for providing easy access to various areas of Mumbai. Train transportation is convenient because Thakur Village is situated halfway between the railway stations in Kandivali and Borivali. There is a high demand for office space in Kandivali’s Thakur Village. Let us look into the most expensive office buildings.
| Buildings | Average Rental (Chargeable) INR/sf |
| Kalpataru Avenue | 136 |
| Grande Edifice | 135 |
| Tanishka Complex | 91 |
High Rental Yields
Thakur Village is a popular choice for both businesses and residents due to its prime position in Mumbai’s busy core business areas and its great road and railway access. Prices inevitably rise as a result of the strong demand for rental units. Additionally, the area’s commercial complexes and IT parks draw in more enterprises. This raises the demand for rentals even more.
Thakur Village also has a variety of attractions, including parks, commercial malls, and recreational facilities, as well as a well-planned infrastructure. These advantages make it even more enticing, and business rents in this bustling district are steadily rising. These elements support Thakur Village’s appeal as a lucrative location for office space rentals and investments. In a recent transaction in June, Hilton Metal Forging leased an office space of 1,392 square feet at Tanishka Complex for Rs.75 psf.
Let us look at the top tenants renting office spaces in Thakur Village.
| Tenants | Average Rental (Chargeable) INR/sf |
| ICICI Bank | 113 |
| HDFC | 100 |
| LEAP | 95 |
| Morex Industries | 94 |
| Standard Securities & Investment Intermediates | 78 |
Thakur village of Kandivali stands out as a center of great potential. The prime location of the area along the Western Express Highway, and excellent connectivity to key sectors, make it an attractive destination for entrepreneurs and investors. Well-designed office spaces with modern facilities support a growing business environment. In the next 1-3 years, Thakur Village will see the addition of 69,170 square feet of office space.
Olive Sarova in Kandivali East offers premium office spaces in a strategically located commercial property, ideal for businesses seeking a vibrant and connected environment.
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