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Mumbai’s residential real estate market has been steadily recovering from the onslaught of measures such as demonetization, RERA, and GST, as well as other economic factors. As a result, there is a growing buyer preference for affordable and mid-income housing projects throughout the MMR, particularly in the city’s outskirts and suburban zones. Recent reports, however, have mentioned how Mumbai’s luxury real estate sector is also making a steady comeback. Several South and Central Mumbai micro markets have long dominated the country’s luxury realty space.
Worli – Lower Parel is one of Mumbai’s most affluent and expensive residential real estate stretches among the south Mumbai houses. Despite a steady rise in property prices and ultra-luxurious residential projects dotting the landscape, there is plenty of room for future growth. The Worli stretch mainly was once a textile manufacturing hub in Mumbai, but it has undergone significant change in the last decade. Former mill lands have now been transformed into premier and luxury residential real estate developments, as well as several commercial real estate developments, luxury hotels, entertainment and retail zones, and fine dining restaurants. These new additions have proliferated over the years, completely altering the landscape of this zone.
Several reports have already stated that this stretch is one of the most affluent residential property investments in Mumbai and the country.
This neighbourhood has steadily risen in popularity among high-net-worth individuals, business families, and even celebrities, providing them with a better quality of life, elevated lifestyles, ample amenities, and facilities, including social infrastructure, and, of course, social status in abundance due to the coveted pin code.
End-users appreciate the excellent locational and connectivity benefits, while investors also show increased interest in purchasing units in this neighbourhood. The highly strategic location is a significant motivator for many investors and end-users to purchase property in the Worli neighbourhood. This is part of a premier housing micro market and a rapidly developing zone in South Central Mumbai, which already includes Tardeo, Mahalaxmi, and Prabhadevi, among others. This stretch is a potential residential high-rise that offer stunning views of Mumbai during the day and night, as well as first-rate amenities and other facilities.
• This neighborhood’s connectivity has always been a strong suit.
• There are new-age office and commercial complexes in this zone that several MNCs highly prefer, and Indian corporates are drawn to high-flying lifestyles and other amenities.
• This neighbourhood attracts Mumbai’s elite from the media, entertainment, society, and business. These are the most popular locations for parties, fine dining, music, lounging, and get-togethers.
Worli is one of the best places to live in Mumbai due to its high quality of life, amenities, and superior connectivity. Prices remain high in this area and may rise further due to increased demand from buyers and investors alike. It is more of a commercial and office zone and a significant retail, dining, and entertainment hub in an elite neighbourhood. All other social amenities, such as schools, colleges, and hospitals, are also plentiful along the stretch. There is excellent access to almost every part of the city and a thriving transport modes network.
Aside from the lovely seafront promenade, the panoramic views, proximity to major tourist attractions, and proper appreciation are all factors in this neighborhood’s favour. Properties like Vraj Tiara, Worli offers 3, 4, and 5 BHK luxurious residential complex and is strategically located at Veer Nariman Marg, close to all the daily conveniences and reputed schools and health care facilities. The luxurious residential complex offers an array of amenities like a dedicated gym floor, rooftop garden, jogging track, sky lounge, barbecue area, etc. The metro station, Mumbai Coastal Road, Sewri Worli elevated corridor, and Bandra Worli Sea Link are a few minutes away.
Future connectivity improvements, such as the metro station, Sewri Worli elevated corridor, and Mumbai Coastal Road, will attract tourism and should also help to boost real estate values and demand. Thus property in Worli today is considered one of the best investments for present and future developments.
