BKC is poised to grow due to the many positive factors associated with it.
The United States will help Mumbai's Development Authority in preparing a Request For Proposal (RFP) for the Smart BKC (Bandra Kurla Complex) project. This step, towards making BKC a 'Smart City', will bring more value to the existing real estate and enhance its future prospects.
Some of the expected smart features that can be implemented in BKC are free hi-speed internet, smart parking lots with electric cars for last mile connectivity, street lights with motion sensors and advanced CCTV networks. You can also count on a friendly mobile app to help citizens use these facilities.
BKC was created by the Mumbai Metropolitan Region Development Authority (MMRDA) as an alternative to the Central Business District (CBD) in Mumbai. The reason behind the creation was to give offices and commercial set-ups an alternative place for growth in south Mumbai.
Over the last few years, BKC has gained prominence as a key location in Mumbai owing to its well-established micro-markets. Of late, you would have heard about the MMRDA allocating Rs 65 crores to develop civic amenities in BKC. If this pans out well, the residential sector would be a healthy beneficiary.
BKC is often referred to as one of the most strategic commercial and residential real estate locations in Mumbai. Various factors have increased the popularity of BKC's real estate not only among end-users and investors but also among consulates coming here for work.
Some factors which have contributed in making BKC an investment hotspot are:
- Well-developed infrastructure and regulated traffic
- Proximity to domestic and international airports and the western and eastern highways
- Proximity to high-end residential areas such as Bandra having the presence of the Dhirubhai Ambani International School and the American School of Bombay The presence of the MCA Club and the Trident and Sofitel hotels
- Hygienic surroundings, ample green cover and open spaces
- Commercial projects in BKC offering modern amenities and better car parking ratios
- Residential buildings present in the area are equipped with high standards of safety and security features, high-quality finishes and energy efficient features.
The average capital values of housing units in BKC range from Rs 45,000 to 55,000 per sq ft. BKC is a sought-after locality by ultra-high net worth individuals, most of whom call Mumbai their home.
With an already established infrastructure, luxury housing projects in place, renowned commercial set-ups and the latest update on making BKC 'smart', the buyer's interest regarding the locality is sure to increase.
Source - http://content.magicbricks.com/industry-news/mumbai-real-estate-news-industry-news/what-makes-bkc-a-happening-destination-in-mumbai/82965.html