Kabra Divine Towers is a residential development by Kabra Estate. It offers spacious and skillfully designed residential 1BHK, 1.5BHK, 2BHK and 3BHK apartments with starting area from 364 Sq.ft To 944 Sq.ft Carpet Area. The project is well organized with all the primary features to facilitate the de...
Sheth Irene is a residential project by Sheth Creators. The project offers very well designed 1BHK and 2BHK apartments with starting area from 434 Sq.ft To 662 Sq.ft Carpet Area as affordable cost. The project is well attached by various modes of travelling. The site is in close distance to many civ...
Ruparel Palacio, located in Mumbai is a residential cum commercial development of Ruparel Realty. The project is in two phases. It offers spacious and skillfully designed 1BHK, 2BHK and 3BHK apartments along with starting area from 575 Sq.ft To 935 Sq.ft Carpet Area as affodable cost.
Ahuja Link Park which proffers you 2 BHK, 2.5 BHK and 3 BHK Homes worth a carpet area worth of 644 Sq.ft To 1046 Sq.ft. The development provides you 49 floors in total. The development provides you an budget of 1.62 Crore onwards.The development provides you various amenities like Lift Space, Securi...
Laxmi Callista, placed in Mumbai, is a housing development of Laxmidevi Developers. It provides large and skillfully designed 1 BHK & 2 BHK apartments with starting area form 424 Sq.ft To 656 Sq.ft Carpet. The project is properly prepared with all the basic features to facilitate the demands of ...
Ashtha Heights is graciously created construction, a great fusion of modern technologies and interesting structure. The structure and detailing of the project has been done to have spacious rooms with high roofs. project Include 1 BHK, 2 BHK, 3 BHK apartment with starting area from 494 Sq.ft To 756 ...
Ruparel Optima is a housing cum industrial project designed by Ruparel Realty. The project provides well designed stores and 1 BHK flats at very inexpensive costs. The project is well linked by many modes of transport. The site is in close distance to many civic programs. It offers 1 BHK with starti...
Rustomjee Developer proudly broadcast a simple yet one the most attractive constructions in Goregaon West. This piece of residential development is presently ready to move in. The project is planned to be developed as 26 Floors tower. This independent tower will further offer 2 BHK & 3 BHK Spaci...
Auris Bliss is a popular residential development in Kanchpada, Malad West, Mumbai. Developed by Modispaces, this project offers 2 BHK Apartment with starting area 965 Sq.ft modern amenities for the comfort of residents. It is near to the market place and many academic organizations.Location:-Malad W...
The Luxor by Sangam Realty is one of the most beautiful residential project coming up at Goregaon West, Mumbai. One of the best address one can ever get. This project is well planned to be constructed as 2 Wings of Ground + 2 (Podium Parking) + 19 residential floors. This tower will further consist ...
Nutan Annexe is a new residential project by "Ornate Universal". It offers limited 3 BHK apartments for sale. This project is located just off the S.V road, Opposite to Cinemax Theatre, Goregaon West, Mumbai. Thus giving the best advantage of staying at a walkable distance from station, Main road &a...
Chandak Harmony, located in Mumbai, is a residential development of Chandak Group. It offers spacious and skillfully designed 2 BHK and 3 BHK apartments with starting from Area 925 Sq.ft to 1240 Sq.ft Super Built-up Area at Affordable price.
Locality:-Kandivali West has established by itself as the...
Aurum is a project developed lavishly which suits the demands, hopes and targets of the people. The floor plan has stone flooring as well as Italian flooring which gives a classy look to the apartment. Modular kitchen and classy bathroom are major features of the apartment. The project provides high...
Govardhan Kala is a residential project Atul Projects, located in Mumbai. It offers a number of spacious and skillfully designed 2.5 BHK Apartments with starting area from 758 sq.ft Carpet area . Govardhan Krishna Kala is in close proximity to various basic amenities.Location:-Situated in Goregaon, ...
Govardhan Krsna is a joint venture residential project of Kinner Group and Atul Projects, located in Mumbai. It offers a number of spacious and skillfully designed 2.5 BHK Apartments with starting area from 758 sq.ft Carpet area. Govardhan Krishna is in close proximity to various basic amenities.Loc...
Prem Tower is an under construction residential project that very much matches the modern standards and will be delivered very soon in the month of January 2016. This project is well planned to be constructed as 17 Floors High with grand height between Floor to Ceiling and thus should like a 25 Stor...
Dhanesh Builders presents "Sukhvilla" one of the most simplest yet most beautiful residential project. Its a 12 Storeyed tower that actually looks like an 15 Floors tower due to its grand height between each floor. This project is located in one of the most peaceful area Vivek Vidyalaya Marg, Siddha...
DLH UDAKA HEIGHTS is a tremendous pile of bricks, which is situated at Goregoan west, Mumbai. The location of it is the best as this sub urban area of Mega Polis, is one of the most pointed station of all the end users & traders, which is on the western part of this Mega City. Most of the Realto...
Wadhwa Anmol Prestige located at Goregaon West is a 29-storeyed condo tower with 2 BHK apartments. Life amenities and lifestyle are interlinked terms. Those with lifestyle have got choice of certain things that earmark the things stem from elite zone.Considering the hallmark importance, the elite ca...
The green patch of Aarey Colony that Goregaon enjoys makes it one of the Finest Protected Green-Lungs areas in Mumbai. It has evolved into a popular residential locality in the western suburbs which is the fastest evolving popular IT hub with many corporates having set up their base here. &nbs...
Mahindra Eminente is one of the NEW RESIDENTIAL PROJECTS Mahindra Lifespaces by at S.V. Road, Right next to Mahindra Gardens, Goregaon West, Mumbai with 3 BHK and 3.5 BHK Spacious Apartments. Mahindra Eminente designed by the best architect in the country Hafeez Contractor. It is a mega plan that sp...
Read More About Mumbai & it's Real Estate Property Market
Bombay or Mumbai as it is now called is India’s most populous metro with an estimated population of about 19 million people and growing, covering an area of about 600 sq kms.
Thane and Navi Mumbai are the two major urban habitats on the outskirts of the city.
Mumbai is the financial and commercial capital of the country and the capital of the state of Maharashtra, located on the western coast of the country.
Major commercial landmarks located here include the country’s largest and busiest sea port, the state-of-the-art Chhatrapati Shivaji International Airport which hosts the iconic Terminal 2, India's first and most advanced vertical passenger terminal.
The city is also home to India’s largest Stock Exchange, which is ranked as the third largest in the world and the Reserve Bank of India (RBI), the country’s apex bank.
Mumbai is also the entertainment capital of India and home to Bollywood, as the Hindi film industry, the most prolific producer of in the world, is popularly referred to.
One of the most well-developed cities in India, Mumbai is blessed with fast developing infrastructure facilities, a network of roads, railways, expressways and highways and a slew of reputed educational institutions, retail establishments, hotels, financial institutions, restaurants, cinema halls & multiplexes and a ample choice of accommodation.
POPULAR TOURIST ATTRACTIONS
Mumbai is home to several popular tourist and sight-seeing destinations that include the following:
Gateway of India: Built to commemorate the visit of King George V and Queen Mary to India in 1911, the Gateway of India at Apollo Bunder is one of Mumbai’s most famous and popular landmarks.
Juhu Beach & Chowpatty Beach: The former, a long stretch of sandy beach between Santacruz and Vile Parle is Mumbai’s most popular beach destination, while the later is located at Marine Lines and is well-known for vendors selling local spicy street food.
Film City: Now renamed Dadasaheb Phalke Chitranagari, is an integrated film studio complex situated at Goregaon and the shooting venue for a majority of Hindi film potboilers.
Prince of Wales Museum: The museum not far from the Gateway of India is housed in a carefully preserved mid-Victorian Gothic style building built in 1904 and showcases a rich collection of art, sculpture and priceless antiques.
Taraporewala Aquarium: Located along the picturesque Marine Drive, this recently refurbished aquarium has fish in varying shapes, sizes and colour and is popular with both adults and kids.
Haji Ali Dargah: This tomb of a Muslim Saint is located in the Arabian Sea opposite Mahalaxmi temple and can be visited only during low tide.
Mahalaxmi Temple: This temple located close to the sea off Mahalaxmi is home to three beautiful images of Hindu goddesses, Mahalaksmi, Saraswati and Maharani carved from pure gold.
Mount Mary Church: Located at Bandar West, it is one of most prominent churches in Mumbai and hosts a popular week-long fair every September attended by people of all faiths.
Mahalaxmi Race Course: The only horse-racing venue in the city, it is a popular destination for racing enthusiasts for six months from October to April during the racing season.
Shree Sidhivinayak Ganesh Mandir: This famous temple dedicated to the popular Hindu elephant-headed god Ganesha, is on the corner of Kakasaheb Gadgil Marg and S.K.Bole Marg in Prabhadevi.
Wankhede Cricket Stadium: The venue for many a memorable cricketing battle featuring top international teams including India, this iconic stadium is still an active venue for cricket.
Nehru Planetarium & Science Center: Named after India’s first Prime Minister Pandit Jawaharlal Nehru, is located at Worli and features an inflatable dome planetarium that hosts daily shows on astronomy.
Victoria Gardens (Veermata Jeejabai Bhonsle Udyan): Located at Byculla, these botanical and zoological gardens have an interesting collection of flora and fauna besides a museum building in the Greco-Roman style.
Essel World Amusement Park: Located on Gorai Island, off Malad, this international-styled theme park and amusement center features over 40 exciting rides, games, and attractions. The Water Kingdom is said to be the largest of its kind in Asia.
Fantasy Land Amusement Park: A fun park filled with amusement rides within the city limits of Mumbai at Jogeshwari, Fantasy Land is spread over a lush green expanse covering an area of about 30 acres.
Mumbai’s population in 2013 was estimated to be in the region of a whopping 19mn, while its total metropolitan area is home to more than 20.5 million people.
The city’s population has grown very rapidly over the past two decades and nearly doubled since 1991, when its population was just 12.5 million.
The Malad-Dahisar region in the west and the Chembur-Govandi belt in the east have grown the fastest, at between 17 – 20 percent over the last ten decades.
The number of people living in slums is estimated at 9 million, which is up from 6 million just a decade ago.
Dharavi, the second largest slum in Asia, is located in central Mumbai and is home to approx 800,000 to 1 million people living in just 2.39 square kilometers (or 0.92 square miles).
It's also the most literate slum in India with a literacy rate of 69 percent.
The city has developed a reputation as an urban melting pot with people from all over the country coming here in search of employment opportunities.
16 major Indian languages are spoken here, with the most popular being Hindi, Gujarati and Marathi, in addition to a colloquial, mixed form of Hindi called Bambaiya.
English is widely spoken and is the preferred medium of communication among the city’s large population of white-collared workforce.
By 2020, Mumbai will have an estimated 24 million people with the highest population density in the world.
The Greater Mumbai area which presently has a density of 27,348 people per sq km is likely to touch a high of 101,066 per sq mile during this period, the highest concentration of people on the planet.
JOBS & EMPLOYMENT OPPORTUNITIES
By virtue of being the financial and commercial capital of the country, Mumbai is also the preferred destination for those looking for employment / business opportunities.
The city contributes an estimated 6.16 percent of the total GDP and also contributes the highest GDP of US$209bn.
The hub of economic activity, Mumbai is also responsible for contributing approx 10 percent of factory employment, 25 percent of industrial output, 33 percent of income tax collections, 60 percent of customs duty collections, 20 percent of central excise tax collections, 40 percent of India's foreign trade and an estimated INR 4,000cr in corporate taxes.
Additionally the city is also responsible for 25 percent of industrial output, 70 percent of maritime trade in India and 70 percent of capital transactions to the nation’s economy.
Mumbai and its surrounding areas also contribute over 20 percent of the state’s GDP.
The city’s per capita income is a little more than three times that of India.
By 2020-21 fiscal, Mumbai's GDP Per capita at PPP is expected to reach US$ 23,000.
A majority of major financial institutions, banks and stock exchanges are based here.
The city also hosts the headquarters of several Indian and multi-national corporations and leading corporate entities.
Key commercial and business districts of the city include Nariman Point, Lower Parel, Bandra-Kurla Complex (BKC), while specialized zones like the Santacruz Electronics Export Processing Zone (SEEPZ), Malad’s Mindspace Complex and the International Infotech Park at Navi Mumbai are some of the preferred destinations of the IT and ITES sectors.
Major sectors contributing to Mumbai’s economic and employment health include: banking & financial services, IT & ITES, media and entertainment, retail, lifestyle, FMCG, branded goods, gems and jewellery among others.
TRANSPORT & CONNECTIVITY
The city offers commuters multiple options in terms of its mass transit options.
Popular and cost-effective means of public transport include it suburban railway network, BEST buses, Monorail and Metro services.
Other popular options available here include black-and-yellow taxis, auto rickshaws and a limited ferry service.
Trains on the Mumbai Suburban Railway, commonly referred to as Locals form the backbone of the city's transport system.
The city’s suburban rail network covers a distance of approx 319 route kms and is operated by the Western and Central Railway offering excellent connectivity to most parts of the city and its outskirts.
Mumbai’s Chhatrapati Shivaji International Airport is among the most modern and busy airports in the country.
Mumbai Port Trust (MPT) and Jawaharlal Nehru Port Trust (JNPT) are the city’s two major ports. JNPT is the busiest and most modern major port in India.
The Mumbai Monorail-Phase I (Wadala – Chembur) and Mumbai Metro (Versova – Ghatkopar) are the two new additions to the city’s rapid transport network, having launched services in February 2014 and June 2014 respectively.
A well-developed network of arterial roads, highways, flyovers and expressways exists to boost inter-city connectivity. Mumbai is also an important junction on several national highways including National Highway 3, 4,8,17 and 22, which have enhanced the city’s connectivity to other cities and states.
ROAD INFRASTRUCTURE STATUS
Mumbai has approximately 1,900 kms of roads.
The city’s three main arterial roads include the Eastern Express Highway (from Sion to Thane), the Sion – Panvel Expressway and the Western Express Highway (from Bandra to Borivali).
Recent projects that have enhanced road connectivity in the city include the Bandra-Worli Sealink, which links the island city to the Western suburbs, the Santacruz-Chembur Link Road (SCLR), a 6.45 km long road connecting the Western Express Highway (WEH) in Santacruz with the Eastern Express Highway (EEH) in Chembur.
Other road projects in this category include the Sahar Elevated Access Road (SEAR), that connects the WEH in Vile Parle to Terminal T2 at the city’s international airport and the 16.8 km long signal-free Eastern Freeway that stretches from Fort (South Mumbai) to the EEH near Ghatkopar.
KEY UPCOMING INFRA PROJECTS
Key projects on the anvil include:
A new international airport at Kopra-Panvel near Navi Mumbai to relieve pressure on Mumbai’s only existing international airport at Andheri, Mumbai.
A 126 km long multimodal corridor from Virar to Alibaug, connecting NH-8, Bhiwandi Bypass, NH-3, NH-4 and NH-4B, NH-17 and the Mumbai-Pune Expressway.
Metro Line -2, a 31.87 km stretch with 27 Metro stations on the Charkop-Bandra-Mankhurd corridor.
Metro Line – 3, a 32.50 km long fully underground corridor with 27 stations on the Colaba-Bandra-SEEPZ route.
Thane-Kasarvadavli Metro Corridor, proposed as an extension to the Wadala-Ghatkopar-Thane Metro Corridor (Line-5 & Line-8).
Thane- Bhiwandi - Kalyan Monorail corridor, a proposed 23.75km long stretch with 17 stations along the route.
The proposed Mumbai Trans Harbour Link (MTHL) which is expected to facilitate decongestion in Mumbai by improving connectivity between Island city and main land (Navi Mumbai).
Proposed MTHL-Metro Link, to connect the mainland to Mumbai through rail-based mass transport, this planned metro corridor will begin from Prabhadevi to Sewri and further to the mainland through Navi Mumbai to a suitable Location on the Panvel-Pen section.
Mumbai Urban Transport Project II (MUTP – II), an estimated INR 5,300cr project designed to further improve the suburban railway service network and operations.
REALTY MARKET OVERVIEW
According to industry experts, residential property prices in the city and its suburbs registered an increase of only 7 percent in 2014, mainly due to the new Development Controls rules that came into effect from 2013.
Given the slowing demand due to high property prices no further appreciation in prices is expected in the near-to-medium term.
The city’s eastern suburbs from Kurla to Mulund, witnessed a hike of approx 6 percent in 2014 vis-à-vis the previous year, with land still available to launch new projects there.
Preferred residential destinations in South Mumbai and the city’s western suburbs between Malad and Borivali followed a similar trend.
Upmarket destinations in the western suburbs like Bandra, Khar, Juhu and Santacruz, reported an average growth in property prices, mainly due to an inadequate supply of high-rises.
Property rates in surrounding areas like Thane and Navi Mumbai have also remained sluggish due to slowing demand and uncertainty regarding the proposed international airport at Navi Mumbai.
The only exceptions to this general trend were the suburbs Chembur and Wadala that saw an impressive increase in property prices of about 58 percent and 50 percent respectively in 2014 vis-a-vis the previous year, triggered by the completion of mega infra projects there like the Eastern Freeway and the Monorail.
REALTY MARKET POINTERS
With demand slowing and prices more-or-less stable, experts believe now is an opportune time to buy property in Mumbai by negotiating a favourable deal with developers.
Mumbai property prices are expected to increase by an average 6 percent in 2015.
Sale of residential units in Mumbai during 2014, were pegged at approx 26,407 units, indicating a drop of about 4.6 percent over the preceding year.
Fast developing areas like Panvel, Ulwe, Mulund and Andheri witnessed the highest demand for residential units in 2014.
The launch of new projects in 2014 increased by approx 8 percent year-on-year, due to the ongoing slowdown in demand and rising unsold inventory levels.
Areas including Panvel, Thane, Mulund and Kharghar witnessed the highest supply of housing units in 2014.
Property Trends in Mumbai
Property Rates in Several locations of Mumbai, which are categorised as follows:
Central Suburbs: There are several stations in Suburbs. To name few of them could be Ambernath, Badlapur, Bhandup, Byculla, Dadar, Ghatkopar, Mulund, Sion, Thane. Rates in this area starts from Rs 2700 per Sq.ft which goes upto Rs 32000/- per sq.ft.
Navi Mumbai: Some of the stations in this area includes: Airoli, CBD Belapur, Kharghar, Panvel, Vashi, Kalamboli etc. The per sq.ft rates varies between Rs 3500 To Rs 15,500.
South Mumbai: Locations in South Mumbai is considered to be the richest side of Mumbai. Due to the infrastructures avialble here since the time of Britishers which has now boosted up magnificently. The property rates in these areas starts from Rs 18,000/- per sq.ft which goes upto Rs 76,000/- per sq.ft. To name few locations which lies in this piece of land parcel includes: Altamount Road, Shivaji Park, Colaba, Cuffe Parade, Lower Parel, Nepeansea Road, Worli and many more.
Western Mumbai: This part of Mumbai is now becoming the most desired locations by most of the property buyers. This is becuase they find the property rates worth it against the kind of facilties available here with convenient access to all the important hubs and also to their Work Place. Though the price are very high, but much lower compared to South side of Mumbai.
Locations which are part of Western Side are as follows: Andheri, Bandra, Borivali, Goregaon, Malad, Kandivali, Vile Parle, Santacruz, Khar, Mira Road, Vasai etc. Where your budget for buying a property would range between Rs 4500 per Sq.ft To Rs 45,000/- Per Sq.ft.