Friday, September 30, 2011

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.

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Anonymous Anonymous said...

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September 11, 2018 at 10:06 PM  

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