The Bandra Kurla Complex or BKC is the most sought after commercial hub in Mumbai. It is well-planned, and close to both South Mumbai and the suburbs, making it a great location to be in. In fact, many developers have launched luxury projects in the BKC and its periphery to woo the rich and powerful. But if you are one of the people planning on buying a home here, take note. We list 5 reasons why the BKC may not be completely residential-ready as yet.
1) Social infrastructure is limited
The BKC came into the limelight in the 2000s when many big corporates setup their offices here, a trend that continues even to this day. But even as office spaces came up, the necessary social infrastructure needed to cater to all these working professionals failed to keep pace. There aren’t enough restaurants and recreational facilities here, with people often complaining about the BKC turning into a ghost town in the evenings, with shops and establishments closing down.
2) Have a car? Be prepared to walk
While the BKC has well laid out roads which can handle Mumbai’s traffic, the approach to the BKC is not of the same quality. Traffic jams are a usual feature on the roads leading to the BKC and even if you do make it here, there are no proper provisions for car parking. You may end up walking up to a half a kilometer in order to get to work after parking your car.
3) ‘Smart BKC’ is still a long way away
The Mumbai Metropolitan Region Development Authority's (MMRDA) had grand plans of making the BKC a ‘smart zone’ with automated traffic management systems, technology driven public services, free Wi-Fi and the works. But all those plans have taken a hit, with the agency unable to finalise a bidder for the ‘Smart BKC’ project. Government sources tell NDTV that it will take a few years before these plans are anywhere close to completion.
4) Property is too expensive
The government views the BKC as a cash cow and has kept the prices in this region high to maximize their revenues. But this also acts as a deterrent to private developers who may find it financially unviable to buy land and build projects here. This is why perhaps there were no takers for MMRDA’s recent auction of BKC’s C-65 plot. Even though the plot was open for commercial development, which is a fast-moving category here, developers kept away.
5) No clarity on regulation
Developers are also concerned about the ambiguity regarding residential development here, with the government having no clear guidelines about FSI utilisation. What’s more – the BKC’s proximity to the airport has also imposed several height restrictions on projects here, making developers wary of building new projects. Couple this with the high cost of land and it is easy to see why there won’t be many new residential projects in the BKC for the foreseeable future.
Edited by- Nikhil Narayan Sivadas