A city’s Central Business District (CBD) is its commercial or business hub. It has a high level of economic activity and enough utilities and amenities. Continue reading to learn more.
The term Central Business District (CBD) is frequently employed in commercial real estate and refers to the operational region of a city with the highest concentration of commercial, retail, and business centres. Geographically, it is located in the city centre and serves as the hub for the city’s transit networks. It has the highest urban density of any district in town and provides a safe environment for a variety of economic operations.
CBDs were once market squares where merchants and buyers met to sell and buy goods. Nevertheless, as cities expanded, land scarcity and rising demand limited horizontal expansion and favoured vertical growth.
CBDs are now a diversified zone in metro cities, encompassing not just retail spaces, commercial, offices, financial institutions, government centres, and medical centres, but also recreational centers, restaurants, hotels, and residential districts. CBDs have gotten a new lease of life as a result of this gentrification.
CBDs in India include the following:
- Belapur CBD, Navi Mumbai
- New Delhi, Connaught Place
- Kolkata’s Netaji Subhas Road
- Chennai’s Poonamallee High Road and Armenian Street
Another major feature of CBDs is their ease of use. As a city centre, it is well-connected to all regions of the city, even those in outlying locations.
CBDs provide the best infrastructure for a suitable corporate environment, including multi-story buildings, great workstations, seamless communication, appropriate water and energy supply, and parking facilities. As a result, the average per square foot rate in the CBD is greater than in other commercial areas of the city. Connaught Place, for example, has typical property costs ranging between Rs 25,000 and Rs 50,000 per sq ft, which is significantly more than locations like as Old Chanakyapuri and Chandni Chowk. Furthermore, housing prices in CBDs have been steadily rising in recent years as a result of demand-supply imbalances.
Overall, understanding CBD terminology is important since it may be useful if you are a commercial investor searching for possible chances to add to your portfolio or intending to relocate your firm to a desirable location of the city.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.