Cable and Wire Manufacturing Giant Polycab India Acquires Commercial Premises in Dadar Mumbai For INR 202 crore

According to real estate reports in Mumbai, Polycab India Ltd has acquired a commercial space in the Dadar West neighbourhood of the city for Rs 202 crore. Polycab India Ltd is a publicly traded firm that specialises in the fabrication of cables and wires.

According to the report, Ruby Mills Ltd has sold the 23rd and 24th floors of commercial space totaling 55383.65 square feet to Polycab India Ltd in Dadar West, Mumbai, along with 40 parking spaces.

According to the real estate developer Rohan Lifescapes, the sale represents one of the biggest outright acquisitions of office space in recent history.

The Ruby, a landmark skyscraper by Rohan Lifescapes, is the highest commercial tower in prime Dadar and is inhabited by major multinational corporations. 

The 1.2 million-square-foot complex, which is primarily occupied by EY India, ARCIL, and Axis Bank, is a joint venture between Ruby Mills and Rohan Lifescapes.

The area in issue is a 55,383.65 square foot expanse that spans the 23rd and 24th floors of the Tulsi Pipe Building on Tulsi Pipe Road. The workplace has amazing sea and urban views, as well as many parking spaces.

Harresh Mehta, Managing Director of Rohan Lifescapes, is super positive about commercial real estate. He feels that the south and central Mumbai real estate markets are reviving in 2021-22. This has resulted in a rapid resurgence of commercial real estate in Mumbai after the COVID-19 saga.

According to some commercial real estate brokers in Mumbai, the majority of corporates have begun developing a long-term strategy that accounts for the reappearance of COVID-19 or other comparable events. Polycab's purchase exemplifies such technique. Central Mumbai is well situated between the city's former CBD - Nariman Point - and its new CBD - BKC. 

The leasing market has remained stable, and it remains an appealing market for acquiring commercial buildings at a reasonable price.

According to real estate specialists in Mumbai, business houses have traditionally preferred Dadar commercial real estate. One reason is that Dadar is one of Mumbai's oldest and most established neighbourhoods, standing in a class of its own due to its very advantageous geographical position and connections. The year-round business activity of Dadar is practically felt at any moment. It's unsurprising that the Dadar housing market has never experienced a quiet moment.

As a result – and practically speaking – Dadar is the centre of Mumbai. 

The location of one's workplace is the most critical aspect for Mumbai's professionals. Dadar, on the other hand, earns a perfect ten for its unparalleled accessibility. Dadar station is unique in that it serves both the Central and Western lines, with adjoining Wadala acting as a handy entry point for the Harbour line, he noted.

Dadar is a major centre for public transportation and is also readily accessible by car. 

All in all Dadar real estate and especially the commercial office space in Dadar seems to be moving in the right direction.