Residential Projects in Parel

Seeing the level of construction activities undertaken all across the city and its outskirts, there is no doubt that Mumbai is now booming in the real estate sector. Sprawling outward to adjoining small towns and upward with means of innovative skyscraping constructions, the breed of established developers are looking to accommodate every segment of the market. Yet there are commercial and residential projects in Parel, Dadar, Worli, etc., in the core of the city that are still in high demand in spite of the inflated prices. The main reason for this is that these areas are centrally located, have superior connectivity to other parts of Mumbai, and the newer constructions in such parts are truly value for money considering the amenities and facilities provided by the developers, not to mention the advanced innovative designing and style in edifice.

Developers today are using every tool at hand to perfectly plan, price and promote their range of complexes so as to attract their target market. Out of the many new trends adapted by leading developers of the city, the most prominent are their compliance to hiring foreign designers and architects, taking on upcoming and modern interior designers, employing project managers and teams to ensure that the building is ready in time, and engaging the consumer through means of advertisements and other promotional activities. They have also realized the importance of understanding the end user, which translates into better incorporation of space, more amenities, and higher quality of living. Some developers have taken this a step further to include commercial and residential complexes that can be termed ‘Green’. These are constructed to be eco-friendly and conserve natural or other resources and in turn promote an environmentally friendly lifestyle.

Parel is one such area that boasts of contemporary buildings designed keeping modern day luxury in mind. Being one of the locations in the city where the lower middle class and the affluent class dwell together, it has a lot of good restaurants, shopping options, malls, etc. It also houses the five star ITC Hotel The Grand Central, Mumbai – The Luxury Collection and hospitals like KEM, TATA and Wadia. The area is located 7 km. from Chhatrapati Shivaji Terminus and around 5 km. away from Mumbai Central, making it a convenient location for white collar executives who work in South Mumbai. There are reputed schools like the JBCN International School, Gokhale Education Society, Mahatma Jyotiba Phule Junior Technical School and colleges like the College of Physicians & Surgeons of Mumbai, Bombay Veterinary College, G S Medical College, and Mahatma Jyotiba Phule Education Society of Arts & Commerce, in the area.

There are plenty of residential projects in Parel that are a dream come true for investors. These projects are benchmarks for the direction in which the city is moving, in addition to being an almost guaranteed profit return investment.

Top Residential Properties in Mumbai

Having a real estate market that is considered to be extremely viable for foreign as well as local investors, the demand for top residential properties in Mumbai continues to maintain a growth momentum by means of the correction in prices and quick paced construction activities. The flourishing insistence for construction of better housing properties has arisen due to the development in the commercial sector that is creating a shoot in employment opportunities. Thus, it has been marked that most of the newer investors in residential real estate are first-time home buyers. These investors want a lifelong investment that is bound to appreciate in profit and ensures high quality of luxury living with excellent modern day amenities, flexible yet comfortable interior spaces, and state of the art styling and design.

While the city’s real estate market is witnessing a high income demography and large investment action in all the price and segment bands, areas like Chembur, Malad, Worli, Dadar, Parel, Bandra Kurla Complex Annex, and Powai are hogging most of the spotlight. These places have distinct advantages over other areas, like being in close proximity to major commercial hubs of the city, having good connectivity to other areas of the city via rail or road, and housing prominent educational institutes, medical assistance centres, malls, clubs, parks and other recreational facilities. These areas have a number of high quality residential complexes under construction and in the pipeline, which have been undertaken by the city’s crest of builders and developers. Sensing the pulse of potential investors of the city, newer buildings are mostly high rises that are designed by expert architects and interior designers from India and across the world.

Some of the high end residential complexes available in the popular areas are built keeping in mind the target market. This translates into a number of beneficial factors for the investor. First of all, most of these buildings have a variety of apartments starting from studio apartment designs to 1BHK, 2BHK, 3BHK, duplexes, and penthouses. Secondly, the developers pour in extra money and time to pick an ideal location in the preferred area. The location also refers to the locality and safety for residents in the area as well as the connectivity and proximity for residents to commute to their workplace. Thirdly, most of the ongoing construction of residential complexes in the city are focusing and taking efforts to make buildings eco-friendly and conserve natural resources like water.

While there are many top residential properties in Mumbai that are available for sale, it can be challenging to find the ideal home. The trick is to find the answer to a few questions like what area you prefer, how big the house should be, what amenities you would like, and whether you will be able to manage the finances that may be required.

Exclusive Properties in Mumbai

There is no doubt that Mumbai is one of the richest cities in all of Asia. With a large bunch of multinationals and big brands entering the city on a regular basis, the developers and realtors are busy in building state of the art exclusive properties in Mumbai for the higher segments. Whether it is for commercial or residential projects, developers have now come up with quite a few options for the market needs and prerequisites for housing as well as office space. While most of the areas in town are soon to be reaching the saturated mark, the city is spreading out to adjoining suburbs for reasons of affordability and availability of space.

Congestion in places like Nariman Point, Cuff Parade, and areas in the southern part of the city has made way for the commercial development of places like Chembur, Parel, BKC, Worli, Malad, Andheri, Dadar, etc., which have now emerged as prime localities for commercial as well as residential investment. Having a number of exclusive construction sites and developments underway, these areas of Mumbai are now enjoying the real estate limelight. Major players in the real estate sector such as Omkar Realtors & Developers Pvt. Ltd. are now one of the leading developers making modern and high-tech complexes that are equipped with all sorts of high-quality amenities, contemporary styling inside and out and flexible spaces to meet the ever-increasing demands of this target segment.

While the commercial projects that cater to this market of high-end investors include amenities like ample parking for the executives, flexible spaces to accommodate the workforce appropriately, high-speed elevators, business meeting rooms, lounges for official meetings, etc., the residential properties include features that are targeted to ensure the work-life balance and help conserve a relaxed and secure living. The exclusive housing complexes in the city are located in close proximity to recreational facilities like malls, movie theatres, parks, clubs, schools, etc. Such residential projects are known to incorporate amenities like gymnasiums, lounges, swimming pools, gardens, play areas for children, ample parking, servant’s quarters, accommodation for drivers, etc.

If you are looking to invest in one of the exclusive properties in Mumbai, depending on whether you want a commercial or residential space, you can contact any of the leading developers in the city to acquire more information and guidance. Some of the properties that are coming up are also built to be eco-friendly and designed keeping the wind direction, sunlight, as well as Vastu Shastra in mind. Such complexes give you the advantage of relative environment safety in addition to some money in the long run. And since the real estate market of Mumbai is only on its way up, no investment now is a bad one, whatever your investment amount may be.

Real Estate in Mumbai

The capital of Maharashtra, the commercial capital of India, an ever-expanding metropolitan, and the city of dreams, Mumbai is all that and more. Real estate in Mumbai has been on the list of the costliest places in the world for a long time now. The inflow of international businesses and a steadily growing internal population has been the primary reason for all the construction activity the city is witnessing for the last decade or so. While it is estimated that the demand of commercial and residential property requirements will rise to match the supply, some major changes in real estate investments by the developers and realtors as well as the investors can be noticed nowadays.

Developers and realtors have realized the near saturation of real estate in some parts of the city, and are now tapping other areas for future projects. Most known developers have planned or ongoing commercial and residential projects in suburbs like Chembur, Malad etc. Of course these constructions are being built in addition to their high-segment housing and commercial complexes in upscale areas like Andheri, BKC, Worli, Vile Parle, Bandra, Dadar, Parel, etc. Since Mumbai already has a extremely developed and competitive real estate market, developers put a lot of thought into their projects in terms of design, style, location, type, target consumer, amenities, provisions, parking, utility value, pricing, etc.

Another big change that can be seen in the real estate market now is the switch from leasing to investment for the average middle-class person. With banks eager to offer home and other property loans, realtors and developers equipped to guide the investor in the right direction, and a range of properties to suit any budget and requirement, today Mumbaikars see the advantages of owning a home. The rate at which Mumbai is expanding and growing economically, real estate is surely a profitable venture no matter where the property is situated, how big or small it is, or whether it is a residential space or strictly for commercial use. Many investors are taking advantage of the market upswing to sell old properties to developers for redevelopment too.

Today any kind of investment in the real estate market is looked at as a future profit prospect. Real estate in Mumbai is booming. Developers are finding new way to lure in consumers, while sticking to the pre-decided price range for the projects. On the other hand the consumers have become more informed of the laws and trends, aware of the rights and wrongs of such deals, and handle transactions with comprehensive information at hand.