A home in the Western suburbs is one of the most coveted dreams. And with Passcode BIG DEAL, a life full of joy is just about to begin. This elegant 40-level tower with 35 habitable floors and 1st habitable floor starting 59 feet above the ground level brings you more luxury per square foot than you...
This Ajmera Manhattan is not only a very good real estate project in Wadala East but also gives you advantages in terms of its location. Apart from the amenities, the fact that you can reach Ajmera Manhattan easily using multiple modes of transport means that your daily living and your lifestyle wou...
Ashtha Serene is an alluring construction proclaiming most effective features to help make you believe on top of the planet. Located in off SV Road, Jawahar nagar, Road no 16, Goregaon West, Mumbai. Diligently developed, lavish 1 RK, 1 BHK & 1.5 BHK Flats comes with spectacular natural vistas wh...
36 Allure is one of the finest ongoing project developing in Goregaon West. It is constructed by Allure Infra Developer. The project consists of 1 BHK and 2 BHK apartment with carpet area of 420 Sq.ft and 620 Sq.ft Carpet Area. The project is 23 Storey High Rise Tower. Jain Derasar & Shiv Temple...
Set on an isle of calm and tranquility, we present to you Ghodawat Skystar, an ecological paradise you can call home. Built in the heart of Mumbai’s Goregaon West, Ghodawat Skystar’s 2 & 3 BHK homes and commercial spaces promise you splendor and opulence right at your doorstep. With ...
Silver Serene is an outstretched elegance development Mumbai, catapulting the innovative way of life. Flats at Silver Serene provides you with the type of living that rejuvenate you, one which motivates someone to require up residence to the utmost. Silver Serene is diligently constructed with absol...
Riverdale is Residential project located in Marol, Andheri West, Mumbai. This project provide 2 BHK Apartment with starting area from 630 Sq.ft Carpet Area at affordable cost.Andheri East is one of the most desired after destinations in Mumbai.The Western Express Highway stretching from Bandra to Da...
Codename Gold One is Residential project located in Goregaon West, Mumbai. This project provide 1 BHK and 2 BHK Apartment with starting area from 360 Sq.ft To 630 Sq.ft Carpet Area at affordable cost.Goregaon is a suburb of Mumbai city, in the Mumbai Suburban district of India. It has a railway stat...
Passcode Manhattan is new launch residential project developed by Vijay Khetan Group located in Vile parle East, Mumbai. This project provide 2 BHK and 3 BHK Apartment with best Amenities at affordable cost.Vile Parle, otherwise called Parla is a standout amongst the most conspicuous rural regions o...
Oberoi Elysian Tower B is almost 70 floors in terms of height and is definitely one of the most modern and luxurious homes that you can find in India or the world. Being developed in the peaceful, prime and the serene location of Oberoi Garden City, Elysian by Oberoi Realty is surely the epitome of ...
Eon One is Residential project located in Prabhadevi, Mumbai. This project provide 2 BHK and 3 BHK Apartment with starting area from 798 Sq.ft To 1222 Sq.ft Carpet Area at affordable cost.Prabhadevi is one of the elegant and favored regions in Mumbai. It is arranged between the Shivaji Park Resident...
Radiant 59 is Residential project located in Marol, Andheri East, Mumbai. This project provide 1 BHK and 2 BHK Apartment with satarting area from 442 Sq.ft To 668 Sq.ft Carpet Area at affordable cost.Andheri East is one of the most desired after destinations in Mumbai.The Western Express Highway str...
Nahar Amaryllis is Residential project devloped by Nagar group located in Chandivali, Powai. This project provide 1 BHK, 2 BHK, 3 BHK Apartments with starting area from 366 Sq.ft To 807 Sq.ft Carpet Area at affordable cost.Chandivali is a Locality in Mumbai City in Maharashtra State, India. It has a...
Agarwal Floresta Maple, Passcode Double Dose is the newest development in the most amazingly connected location. Agarwal Floresta Maple brings to you 1 BHK apartments. You also get an option to merge them into 1.5 BHK and 2.5 BHK as well.Passcode Double Dose Project is located just minutes away from...
Penthouse for Sale in Prabhadevi, Mumbai South by Sheth Group Mumbai is a residential project. This project provide Penthouse with 7000 Sq.ft Carpet Area at affordable costLocation :-Prabhadevi is one of the posh and preferred localities in Mumbai. It is situated between the Shivaji Park Residen...
Platinum 53 West is residential project developed by Platinum Corp located in Juhu, Mumbai. This project provide 1 BHK and 2 BHK Apartment with starting area from 455 Sq.ft To 650 Sq.ft Carpet Area at affordable cost.Juhu is one of the most prominent localities in Mumbai. The plush suburb of Juhu re...
Ajmera Arham is one of the ongoing Residential project developing by Ajmera Group at Malad West, Mumbai. It has spacious 2 BHK and 3 BHK apartment where carpet area starts from 753 Sqft to 1055 Sqft. It has all world class amenities.
Malad West is a western suburb located in the northern part of ...
Royal Stone is the prestigious well designed and thoughtfully crafted residential tower offers state of the art spacious 1,2 Bed homes with bigger carpet area in the entire vicinity. The project location naturally comes with great connectivity to railway station, highway, upcoming metro station ...
Windcastle At Tower 28 is an one of the on going residential project developing by Shiv Shakti Developer located in Upper Govind Nagar, Malad East, Mumbai. This project provide 2 BHK and 3 BHK Apartment with starting area from 603 Sq.ft To 853 Sq.ft Carpet Area with best Amenities at affordable cost...
Passcode Green Canvas is Residential project develop by Kripa Group located in Vikhroli East, Mumbai. This projet provide 1 BHK and 2 BHK Apartment with best Amenities at affordable cost.Vikhroli is a fast establishing suburban area in East. It is placed on the middle line of the Suburban Rail twork...
Pre Launching Marine Drive Project developed by Sheth Creators located in Mumbai. This project provide 2, 3, 3.5 & 5 BHK with starting area from 868 Sq.ft To 2432 Sq.ft Carpet Area at affordable cost.Marine Lines is one of the most alluring and liked areas among the people living in Mumbai. The ...
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.