Strategically situated at the heart of Mumbai, Sion has emerged as one of the important commercial hubs connecting the eastern and western suburbs of the city. With a projection of rich history and well-connected infrastructure, Sion is being steadily transformed into an important destination for businesses seeking a balanced mix of residential and workplace amenities. Its proximity to residential and industrial zones further enhances its appeal to companies across different segments.
The demand for commercial properties in Sion has been on the rise due to strategic and infrastructural advancements. Companies are looking for office space to expand their operations within the vicinity. This area is much more affordable compared to saturated commercial nodes in BKC and Lower Parel, making it a cost-effective hub. Therefore, it attracts small and medium-scale enterprises, startups, and even bigger companies aiming at building long-term office spaces.
According to recent data, out of a total stock of 718,985 square feet of office space, 68,332 square feet were leased, and 31,292 square feet were sold in the last 12 months. The average chargeable rental is Rs.126.2.
What Makes Sion a Thriving Commercial Hub?
Sion’s proximity to residential and industrial areas makes it more appealing to businesses across nearly all industries. This gives the area a distinct advantage that allows enterprises to pursue a range of prospects. With Sion meeting the immediate needs of businesses, it offers a strategic position that fosters long-term growth. This makes it a top option for enterprises wishing to build or create a presence in Mumbai. Let us examine the factors that have led to the growth of Sion as a commercial hub.
Excellent Location and Connectivity
Sion’s greatest asset is its interconnectivity. Commuters within the city can easily access the location because it is well-served by the Mumbai Suburban Railway’s Central Line. In addition, the area is connected to Mumbai’s major industrial and commercial areas, including Lower Parel, Bandra-Kurla Complex, and Navi Mumbai.
Major Highways such as the Sion-Panvel Highway and the Eastern Express Highway enhance connectivity. Sion’s road network aligns with the Eastern Freeway, giving travelers faster access to South Mumbai, making it a preferred location for businesses seeking connectivity throughout the city.
Infrastructure and Development
Sion is fast emerging as a commercial node, backed by massive infrastructure development, which in turn has greatly improved connectivity within Mumbai. The locality is well-serviced by the Eastern Freeway, the Eastern Express Highway, and the BKC-Chunabhatti Flyover. The future Metro Line 4 further adds to the excellent accessibility to major business centers such as BKC and Nariman Point. Besides, proximity to suburbs like Mulund, and Ghatkopar, and even satellite cities further away like Thane and Navi Mumbai also favored real estate growth. The BKC-Chunabhatti Flyover and the proposed Sion-Panvel elevated highway are all expected to cut congestion and boost business appeal.
Because it has a strategic location and is less costly compared to the other business districts, office spaces in Sion have received a gradually increasing demand. Companies are also lured to Sion because it has excellent transport links and allows employees to pursue a “walk-to-work” culture, which makes it a prime commercial investment destination.
Let us look at the most expensive office buildings in Sion.
Buildings | Average Rental (Chargeable) INR/sf |
Kalpataru Point | 185 |
Runwal & Omkar Esquare | 139 |
Rustomjee Aspiree | 138 |
High Rental Yields
Sion’s commercial real estate market moves upward with a high percentage of rental yield compared to other areas in Mumbai. The area’s strategic position and comparatively cheaper leasing costs when compared to other densely populated areas like BKC and cheaper Parel contribute to the ongoing demand for office space. Sion presents an appealing investment opportunity for businesses since it strikes the perfect balance between reasonably priced solutions and strong development potential.
In a recent transaction, J M Baxi Ports & Logistics leased an office space of 5,312 square feet at Godrej Coliseum for Rs. 159 psf. Let us look at the top tenants renting office spaces in Sion.
Tenants | Average Rental (Chargeable) INR/sf |
J M Baxi Ports & Logistics | 159 |
Bajel Projects | 150 |
J M Baxi Heavy | 132 |
Protiviti India Member | 92 |
Gangar EyeNation | 87 |
Recommended Properties in Sion
Sion is a swiftly developing commercial and residential hub in Mumbai, housing a number of properties in different dimensions that can accommodate various business needs. Due to the strategic location, greater connectivity, and increasing infrastructure, this area is quite in demand among companies willing to book office space. Some recommended properties in Sion for commercial investments are Gala Altezza and Siddha Magna.
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