Expand Beyond Commercial Properties in Mumbai?
Our commercial property site, Jagaha.com, launched in April 2016 with our exclusive focus being commercial properties in Mumbai and the surrounding area, namely Thane & Navi Mumbai. We started with only retail shops for rent & sale as well as office space for rent & sale and since then have expanded into entire commercial buildings, commercial showrooms, restaurants and coworking spaces in Mumbai.
We have been recently asked by our clients if we will be looking to expand our operations outside of commercial properties in Mumbai to perhaps other commercial real estate localities?
From analysing other property sites and other start-ups, we feel that most have expanded too early for a number of reasons and feel at this time that going to another City would be pre-mature (and frankly unlikely this year and even next year). Not to state the obvious, but Mumbai is a huge city and if we are able to be dominant above other property sites for commercial properties in Mumbai from office space for rent to entire commercial buildings for sale – that would be quite the accomplishment and feel that shifting to another locality would make sense then. This dominance would be gauged by online traffic, inquires and by the ability of our Mumbai commercial real estate agents gaining some real market share in regard to transactions for commercial spaces for rent and/or sale in Mumbai, Navi Mumbai & Thane. Jagaha.com is not there yet, so in the meantime, our property site will continue to focus on our objective in being the “go to” for Mumbai commercial real estate.
However, given that the question of expanding has come up frequently as of recent, we will be happy to entertain our views of which other commercial real estate hub would our property site expand too…. And would love your input as well.
So, if we had to expand to another City in India for our offering of office spaces for rent to shops for sale to coworking spaces etc, we would shortlist the following locations: Pune, Bangalore & Delhi.
We find Pune attractive as its in driving distance of Mumbai (if any issues occur, our core team is close by in Mumbai), our property site is already Maha RERA registered and it’s not a massive City like Delhi so we could more easily test out a market outside of our focus of commercial properties in Mumbai. Lastly, Pune is a major market and growing substantially with a number of large IT firms, Banks and Pharma companies choosing to have major operations in Pune.
Bangalore is the most attractive in terms of growth and frankly the most exciting given the prospects of the City growing as possibly one of the global hubs of tech innovation. There has already been substantial growth in the Bangalore commercial property market. In fact, in recent quarters the demand for offices in Bangalore has exceeded office space for rent in Mumbai on a per sq. ft. basis. Demand for office space in Mumbai will be more diverse & stable than that of Bangalore which will have ups and downs given its dependence on the well-being of IT companies & tech innovation.
The more stable option of all, including even commercial properties in Mumbai, would be Delhi. This is due to the fact that it is the Capital and regardless of what happens, the Capital City (especially for such a large country such as India) will provide the most stable market for Indian properties and of course, commercial properties would be no exception whether considering shops for sale or office space for rent. However, when looking at the potential of future growth, Delhi likely falls short of the two above mentioned commercial property site localities.
So… if we had to choose between the three options, we would say that likely our first market outside of Mumbai commercial real estate would be Pune. Pune would likely make the most sense as its smaller and closer and at the same time a substantial commercial property site hub.
If you were us, which commercial property site locality would you choose?
If you are thinking of getting a commercial property in Mumbai, Thane and Navi Mumbai then do not think too much go now to jagaha.com and choose the property according to your requirement. You can call us directly on 09029000670 or drop us mail on email@example.com.
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