Top 5 Expensive And Luxurious Locality In Mumbai

Also known as the financial capital of India, Mumbai has numerous posh areas that are home to some of the well-known natures of the country. Malabar Hill, Cuffe Parade, Juhu, Bandra, and Worli are the best areas in Mumbai, with stuff costs flying at Rs 30,000-60,000 per sq. ft. Let us look at the issues pushing the real estate values in these areas.

Malabar Hill is one of the most designated residential property in Mumbai, where the approval of inhabitant’s barrages from the ultra-wealthy section of society. Situated on the southernmost tip of Mumbai, the locality proposes a three-side view of the Arabian Sea. On the residential front, it includes not only luxurious houses and penthouses but also a few marquee properties valued as high as Rs 300 crore. The incomplete developable land and limited supply of flats coupled with the beautiful city views have increased the property prices in Malabar Hill. The majority of residences here offer unimpeded views of the Back Bay, Gurgaon Chowpatty Beach and the Nariman Point skyline. Multiple flats clarification for over 95 per cent of the total residential river in Malabar Hill. As per the data obtainable with 99 acres, property prices here hover around Rs 42,400 per sq. ft.

Cuffe Parade, which is located on Mumbai's southernmost point, is a section of the city's Central Business District (CBD). Along the coastline, the area suggests a mix of residential and business properties. Churchgate (3 km) is one of the major locations close to Cuffe Parade, Navy Nagar (2 km), and Back Bay Reclamation (2 km). On the commercial front, the locality families several major organisations and embassies of foreign missions, for example, the Royal Consulate of General of Saudi Arabia, UIDAI Office and EXIM Bank. Moreover, it boasts protuberant commercial complexes, counting the World Trade Centre and Maker Tower. While the locality is well-linked to other areas via Captain Prakash Pether Marg and Shahid Bhagat Singh Road, the planned Cuffe Parade metro station on Line 3 (Colaba-SEEPZ) will further recover the connectivity quotient of the region and, thereby, the home rates. The steady property prices in Cuffe Parade hover mostly at Rs 59,300 per sq. ft.

The western neighbourhood of Mumbai covers Juhu, which a number of Bollywood stars say home. Juhu's soaring real estate values are primarily due to the flats' sea-facing views. Another element that has benefited this area is Juhu Beach's existence, combined with proximity to some of the most well-known neighbourhoods and commercial hubs of the city, including Goregaon is 10 km, Andheri is 7 km, and Bandra-Kurla Complex is 9 km. According to current listings on 99 acres, the average price per square foot for properties in Juhu is roughly Rs 42,600.

Once a residential hub for the Portuguese, Bandra is now home to numerous Bollywood celebrities, politicians and businessmen. Purely, the area is alienated into two parts- Bandra East and Bandra West. The last is a fashionable locality with Khar West towards the North, Mahim on the South, the Arabian Marine on the West and Bandra East on the East. In terms of real estate, the locality proposes a mix of high and mid-scale properties. It also has a good mix of social and retail substructure including some protuberant high-profile pubs and retail markets, such as Turner Road and Hill Road. Important employment areas positioned near to Bandra West include Bandra-Kurla Complex (BKC), Kalina and Kurla. These are all positioned within a 5-10 km radius of the locality. While Bandra West already enjoys good links with the rest of the city via Bandra Railway Station, the upcoming metro Line 2 (Dahisar-Mandale-Mankhurd) is likely to further improve the connectivity of the locality.

Over 60 per cent of properties for sale in Bandra West are valued above Rs 5 crore, the majority being in 3 and 4 BHK outlines. Property values in Bandra West are as tall as Rs 43,800 per sq. ft.

Lively with high rises, Worli is one of the wealthiest localities of South Mumbai. The locality is snuggled on the shores of the Arabian Sea and proposals a beautiful skyline. In terms of commercial development, the locality itself is one of the important employment centers in Mumbai, including several multi-tenanted office structures. Worli, along with Lower Parel, hosts protuberant corporate parks, including One India bulls Centre, Peninsula Corporate Park, and Urmi Estate. The building of the remarkable Bandra-Worli Sea Link in 2009 has also contributed to the rising real estate prices in the locality.

On the connectivity front, Worli is flawlessly connected via all modes of transport. The Mumbai suburban railways' Lower Parel and Currey Road stations on the Western and Central lines are responsible for repairs. The gap from the location to the Mumbai International Airport is coarsely 14 kilometres. In the future, Line 3 of the Mumbai metro will also attach to the neighbourhood.