Best Commercial Property in Mira Road for Value Investment

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Commercial property in Mumbai today generates around 7.64% annual rental yield. In comparison, fixed deposits are traditionally considered the safest investment instrument, yielding only around 6.25%. Thus, investing in commercial property, especially in metropolitan cities, can be a smart move for long-term, secure financial growth. One has to find a property that has value and potential for growth. For a person residing in Maharashtra, Mira Road is one of the best locations in which to find commercial properties to invest.

The development of Mira Road in the last few years has made it a prime location where one can easily find good commercial property for sale. Along with a promising infrastructure, properties are located strategically to offer easy connectivity to other towns. In this blog, you will explore different projects and factors that will help you select a commercial property in Mira Road for maximum returns and a prosperous future.

AsmitA India Realty is a pioneer of skyscrapers in Mira Road, Thane, Naya Nagar. As one of the trusted names for value investment in commercial space on Mira Road, Mumbai, it’s a company committed to quality and continuous development, which indicates that its commercial buildings will fetch you nothing less than significant profits.

Growth of Commercial Properties on Mira Road

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Mira Road, in particular, has experienced a shift in the type of properties being built, especially over the last few years, with many new commercial property developments ongoing. The tangible infrastructure, such as a developed road network and the construction of new public transport facilities, has greatly boosted the viability of the area for most commercial activities and led to the overall development of Mira Road.

Furthermore,  the place is closer to the most important business centres as well as the residential ones, and this makes the area an apt place for both commercial shops and showrooms, offices, restaurants, and entertainment centres.

The increase in the number of people, as well as the new investors in businesses, has made the demand for commercial space high, especially leading to increased property prices and rising investment returns. AsmitA India Realty contributes to enhancing the infrastructure and overall appreciation of the commercial properties on Mira Bhayandar, Mira Road.

Average Commercial Property Rates on Mira Road

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In general, property rates vary based on the exact location, such as town, suburb and per-square-foot area. Various real estate groups have provided the average commercial property rates based on their analysis. Similarly, AsmitA India Realty has also provided different price ranges based on different reasons.

hike of 10-15% is expected in property value on Mira Road by next year. For exceptional projects near key hubs, the price per square foot is estimated to touch Rs. 12000–15000. An approximate 200% increase has been observed in property rates from 2015 to 2023 in Mira Bhayandar. Now that you have an idea about value appreciation of properties in Mira Road, know the factors that will help you in your decision-making.

Factors to Consider While Buying Commercial Space

For start-up businesses, investors, or corporations looking for fresh locations to invest in for expansion or diversification, Mira Road is the ideal destination, offering a fairly new market. Here are key factors to consider when buying commercial space:

1) Location

The location where commercial real estate is set determines its effectiveness and value. Try to find property in an easily accessible area to the targeted audience.

A commercially strategic location near roads and airports can be a selling point to potential buyers. Take some time and evaluate if there is sufficient access to necessities, including banks, restaurants, or other establishments that are convenient for a business.

2) Property Condition

Evaluate the physical condition of the property, such as the building structure, maintenance needs, age of the property, etc. One should analyse the general structural integrity of the building, such as the roof, foundation and the building’s electrical system, among other elements.

3) Market Conditions

Understand the current market conditions to make an informed decision. Consult the most recent property seekers’ database to get a feel of competitive pricing. If you hope to turn the space into a rental, it is essential to know the trend in rental charges.

Some of the trends that should be considered before coming up with the final location of the commercial space are the vacancy rates or the rates at which spaces are being let out, and the available space in the area.

4) Legal and Due Diligence

Ensure thorough diligence to avoid legal complications. A quick and comprehensive check confirms that there are no disputes or complications regarding the legal ownership of the property.

Environmental assessments are done to attest that the property is not a hazard to the environment in any way or that it does not come under any prohibited zone. It is always important to seek legal representation based on real estate legal matters and advice before signing any contracts or agreements.

5) Accessibility

The property’s accessibility and visibility are significantly impactful. Footfall is especially vital for companies in the retail industry. A good example is that when the property is easily visible from the road and it offers an opportunity to display advertising signs, more people will sign up for their properties.

There could be other things to note as well, such as checking the future growth potential or zone regulations. By carefully considering all factors, one can easily make a secure, informed decision.

Best Commercial Projects for Sale on Mira Road

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Mira Road is a preferred location for multiple reasons, so one can find several commercial projects there. But when it comes to the best, AsmitA India Realty is the name that strikes first. So, if you wish to elevate your experience about investing or purchasing commercial projects on Mira Road, then there are a few of them by AsmitA.

AsmitA Grand Maison is the first smart home luxury project in Mira Road where you can buy 1-BHK flats2-BHK flats, and choose from the 7 commercial spaces ranging from 341 sq. ft. to 458 sq. ft. in size within the property to buy or rent. The prime location of this property draws heavy footfall and guarantees 10%-15% returns, making it one of the most lucrative investment opportunities in Mira Road. There are retail spaces, hotels, and convention centres by AsmitA India Realty on Mira Road to pick as per preference.

Bottom Line

Mira Road is an ideal investment location due to its significant traffic flow and accessibility, which are complemented only by future profitability and revenue increases. With the expansion of the land and the likelihood of more firms bringing their operations there, it is accurate to predict that the value of commercial properties is poised to soar and is, thus, a rather sound investment.

Undeniably, AsmitA India Realty offers great value for commercial real estate investment in Mira Road. Located in the suburban district of Mumbai with adequate facilities, robust infrastructure, and numerous modern commercial developments such as AsmitA Orient or AsmitA Orchid by Asmita India Realty, Mira Road becomes an ideal destination for value investment.

Frequently Asked Questions

Is it a good idea to invest in commercial properties when there are plenty of other investment options available?

Investment plans are an individual’s personal choices and depend on many factors. However, when it comes to commercial properties, one can expect better returns on investment. The growth rate and rental yields of commercial spaces are quite high. Therefore, for those who are interested in putting their money into real estate, the commercial domain is a better choice.

What is the future of commercial properties in Mira Road?

The price appreciation of properties in Mira Road has always been on the higher side. It continues to do so as it is one of the preferred locations in terms of connectivity and quality living. In the next five years, the price of commercial property for sale is expected to double.

What are the different types of commercial properties that one can invest in?

Commercial properties can be further called by different names based on the purpose of the place and its associated ROI. As per your investment amount, expected returns, and interest, you can invest in retail buildings, industrial buildings, corporate office buildings, or hotels.

What makes investment in commercial property a better option than residential one?

Though initial investment in commercial properties is quite high, they are still considered useful when one expects low volatility and long-term investment with assured price appreciation by a greater margin. Commercial real estate is less risky, and rental yields are also good.

What commercial spaces are offered by AsmitA India Realty on Mira Road?

AsmitA India Realty offers premium commercial projects in Mira Road, Mumbai, such as spaces for ATMs, coaching centres, bank offices, and yoga classes. This includes the seven commercial spaces ranging from 341 sq. ft. to 458 sq. ft. in size at AsmitA Grand Maison, suitable for office or retail purposes.