Vashi, located in Navi Mumbai, has emerged as a beacon for those seeking a harmonious blend of urban sophistication and natural serenity. This strategically located neighborhood has evolved into a premium commercial destination, offering a lifestyle seamlessly integrating convenience, connectivity, and tranquillity.
The establishment of IT/ITeS companies in the adjacent CBD of Belapur and other surrounding sectors has also contributed to the emergence of Vashi as a thriving commercial hub. Vashi’s demand for office spaces has considerably surged because of its strategic location and robust infrastructure. According to recent data, out of a total stock of 5,257,257 sf of office spaces in Vashi, 175,669 sf was leased out and 87,680 sf was sold.
What Makes Vashi a Thriving Commercial Hub?
Vashi has attracted a myriad of IT companies seeking lower operational costs and strategic connectivity. These factors, coupled with robust infrastructure have propelled significant real estate investment. This, in turn, has fostered commercial markets and has solidified Vashi’s status as a sought-after locale. Let us examine why Vashi stands out as the next destination for commercial real estate investment.
Excellent Location and Connectivity
Vashi is a well-planned locality strategically situated along the Mumbai-Pune Highway. With proximity to key areas like Kopar Khairane, Ghansoli, Airoli, Nerul, and CBD Belapur, Vashi enjoys a seamless integration with the rest of its neighborhoods.
The Mumbai-Pune Highway, Palm Beach Road, Vashi Flyover, Thane-Belapur Road, and other great road and rail networks make Vashi a well-connected locale. The Vashi Railway Station serves as a major transport hub. Vashi enjoys seamless connectivity to both the future Navi Mumbai International Airport and Chhatrapati Shivaji International Airport.
Infrastructure and Development
Vashi’s growth and infrastructure are prime examples of careful urban planning and strategic vision. This has helped in creating a vibrant environment that supports both residential and business ventures. The well-connected roads and railways serve as its anchors. This seamless connectivity adds to the area’s appeal as a top investment location. This infrastructure contributes to successful mobility and contributes significantly to the area’s economic growth. This in turn has drawn a large number of businesses seeking to operate at a reduced cost.
The surge in the number of office buildings has led to the development of modern commercial complexes, further enhancing Vashi’s status as a thriving business hub. In a recent transaction, an office space of 11,615 sf in Akshar Level 23 was sold at Rs 81.7 psf in March 2024.
Let us look at the most expensive buildings in Vashi.
| Buildings | Average Rental (Chargeable) INR/sf |
| G Square Business Park | 109 |
| Proxima | 102 |
| Platinum Techno Park | 102 |
| International Infotech Park (Vashi) | 102 |
| Cyber One | 100 |
High Rental Yields
A commercial property in Vashi commands high rentals. Its strategic location guarantees a constant flow of economic activity. Furthermore, Vashi’s well-designed transportation network—which includes strong road and rail systems—improves enterprises’ accessibility and convenience. The mutually beneficial association between the expanding business domain and the real estate industry stimulates rivalry. This has resulted in elevated leasing charges for premier commercial assets in Vashi.
As a flourishing business district, Vashi has witnessed a sharp increase in the number of enterprises looking to rent office space. This has pushed rents to all-time highs. This indicates the region’s increasing stature as a top choice for companies looking for exciting prospects.
In a recent transaction, Mash Energy India leased an office space of 5,997 sf in BSEL Tech Park at Rs. 88 psf in February 2024. Let us look at the top tenants securing offices on rent in Vashi.
| Tenants | Average Rental (Chargeable) INR/sf |
| Morningstar | 83 |
| Awfis | 82 |
| Polyplay Solutions | 79 |
| Star Union Dai-chi Life Insurance Company | 70 |
| ICICI Bank | 69 |
Recommended Commercial Properties in Vashi
Vashi’s growth as a thriving residential and business center is driven by its advantageous location and strong infrastructure. With a booming rental market and a changing economic landscape, Vashi is a symbol of growth and prosperity. Some of the famous commercial buildings in Vashi that offer office spaces for rent /sale are Vishwaroop IT Park, Raghuleela Mall, and Akshar Level 23.
With the addition of 136,996 square feet of office space in the next three years, Vashi’s commercial landscape is poised for further expansion.
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