Mumbai is the city of dreams, a destination for those with big ambitions. Considering its major economic impact, it is India's leading financial and commercial hub. Mumbai has a GDP of US$140 billion. To put things into perspective, the Gross State Domestic Product (GSDP) for the State of Maharashtra was estimated to be $435 billion in 2022–2023.
The main industries in Mumbai are consumer packaged products, port-based trade, IT services, insurance, and the banking and financial services sector. With more businesses looking to set up their companies in Mumbai, the demand for office space is increasing. Are you among the businesses looking for commercial office space in Mumbai? Then this guide is for you:
Decide on a Budget
Defining your budget is the first step in finding reasonably priced office space in Mumbai. As you calculate the amount you are ready to pay for your office space, consider not just the rent but also other expenses such as taxes, maintenance, and utilities. You can reduce your options and prevent overspending by having a defined budget in mind.
Study the Area
Think about the benefits and drawbacks of various Mumbai sites. The commercial office space in Mumbai comes with modern amenities. While older commercial hubs like Fort, Kalbadevi, Masjid Bunder, Ballard Pier, and Opera House are losing their charm due to outdated facilities and limited parking.
Assess Your Needs for Space
Based on the size of employees, your business's anticipated development and future expansion, estimate how much space you would need. Be practical as either overestimating or underestimating the amount can result in extra costs or a small workstation. Choose a location that will suit your present requirements and provide room for growth as your company expands.
Amenities and Office Layout
Once your alternatives have been reduced, carefully consider how the office space in Mumbai you have in mind is set out. Consider the office space that best suits your needs, and make sure there are enough elevators to guarantee quick and simple access to the office. Look for provisions for internet connectivity, server rooms, air conditioning, fire safety precautions, and security services.
Reputation and Credentials
Checking the reputation and qualifications of the lessors is important because renting office space is a long-term commitment. This will contribute to ensuring an easy and enjoyable transition to your new workplace. To guarantee that your job is stress-free, be sure the building has an occupancy certificate.
Discuss Lease Terms
Never be afraid to negotiate over the terms of the lease when you find a possible office space that meets your needs and budget. Mumbai's landowners are often open to negotiating, particularly given the highly competitive marketplace these days. To get a better price, try negotiating things like rent, the duration of the lease, and maintenance expenses.
Final thoughts
To support the development of a prosperous company environment, DBS Business Centers offers office space in Mumbai that is designed to be futuristic and equipped with all the amenities that are required. It is all about being able to connect with a dynamic, cooperative, and progressive professional community. So, choosing DBS for commercial office space in Andheri means selecting a partner committed to the expansion of your company.