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Why are South Mumbai Properties at a Premium?

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Due to the trending changes in the property market, one of the hottest topics for discussion is real estate. With the changing skyline of South Mumbai, the Worli skyline especially is dotted with amazing sea facing 3BHK flats and 5BHK flats with stylish and new-fashioned amenities available for all age groups. As there is a change in the lifestyle of people that has caused high aspirations and taste, there is also a high demand for luxury flats in South Mumbai.

Connectivity and centricity

South Mumbai isn’t just one of the most happening cities in the world; it also has an old-world charm which has caused it to be one of the most sought-after cities in the world. With the modernization of the iconic Bandra Worli sea face, the Mumbai coastal road that connects North Mumbai and South Mumbai and the eagerly awaited metro, Worli and Bandra have become a top-tier location.

Moreover, the presence of educational institutes, health care facilities and commercial and entertainment hubs within a distance of 5 to 15 minutes also contributed to Worli becoming one of the most popular residential zones over the years. It is also preferred destination for industrialists, sports personalities, business persons alongside other celebrities. Worli has largely benefited from its sheer proximity to the seashore and easy access to the western suburbs through the Bandra –Worli sea link. However, Worli has been witnessing sizable demand from investors which are a novel phenomenon since a lot of prime micro markets in South Mumbai are saddled with issues such as lack of suitable parcels of land near the seashore. Majority of the residential and commercial projects are connected via road and rail.
Better amenities and lifestyle

A lot of home buyers take into serious consideration aspirational neighborhoods with good schools, locality and also a home with a huge space as well. This is however; considered a minimum requirement as there has been a whole new transformation in the way people in the metro cities live. Precisely, this is the also the case with properties in Mumbai, where people consider localities like Worli, Nepean Sea Road, Breach Candy, Cuffe Parade and many more where there is a larger than life sea facing their apartment or a villa to themselves. Most of the time, buyers look for homes that not only improve their lifestyle but also make it quite easy for them to spend quality time at home. This is the exact reason why the demand for flats in South Mumbai has been rapidly increasing.

As Indians continue to migrate, there are introduced to a totally different style of living, where what they consider here as luxury turns out to be a basic necessity in foreign countries. Based on this, real estate builders in Mumbai are scaling up their design game and features of the flats they are constructing. Currently, luxury homes in Mumbai are now come being equipped with state-of-the-art technology, featuring attractively detailed interiors, larger than life ceilings and a lot more. Pent houses and row houses are also seeing lots of buyers.

There are 1BHK, 2BHK, 3BHK to 5BHK flats in Worli. They can cost you anywhere from Rs 3 crores to Rs 25 crores. It all depends on the location and the amenities it offers. Luxury apartments and villas are also available and they can cost you around Rs 25 crores to Rs 85 crores. Besides, there are lots of lots of real estate builders who are coming with a lot of projects that would provide affordable flats in South Mumbai.

Subsequently, luxury housing is a fast growing sector of the Indian market. Flats in South Mumbai top the list for piquing the interest of buyers interested in buying luxury homes. Usually, buyers who purchase luxury apartments in Mumbai are those that don’t require loans to make payments. This doesn’t in any way disturb the demand for homes. Hence, this sector remains unaffected by fluctuations in price. As a matter of fact, there are buyers that are ready to buy such properties in Mumbai at a much higher cost. In real estate industry, luxury homes are the next big thing.

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