Lifestyle

Lokhandwala property market: An overview

[ecis2016.org] Lokhandwala Complex or Lokhandwala is a popular residential and commercial area of Mumbai in Maharashtra

Lokhandwala was built by Siraj Lokhandwala, proprietor of Lokhandwala Constructions. He found a marshland, now known as Lokhandwala, in the area of Versova in 1978. He found it fit for development and hence bought the plot. Presently, Lokhandwala is home to a number of movie stars, television stars and many NRIs. Golden Heights, Royal Accord, Samartha Krupa, Green Acres, Oberoi Sky Gardens, Royal Resorts and Oberoi Sky Heights are among the popular residential landmarks worthy of mention in Lokhandwala. Walavalkar Park serves as a famous jogging track located adjoining the Lokhandwala Back Road. Some of the renowned builders investing in Lokhandwala include – Mayfair Housing Pvt Ltd, Oberoi Realty Builders, Aaditya Realtors and Kabra Group.

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Connectivity with nearby Lokhandwala localities

The locality is well connected to various developed areas and a number of hotels, schools, banks and hospitals via an excellent network of railways and roadways.

  • It is connected to popular localities of Andheri East, Goregaon West, Jogeshwari West, Kandiwali etc via extensive network of roadways.
  • The nearest railway stations is the Andheri railway station which is located at a distance of 5 kilometres.
  • The nearest airport is Chhatrapati Shivaji International Airport which is located at a distance of 10 kilometres from Lokhandwala centre.

Employment hubs near Lokhandwala

The locality is witnessing an increase in the population in the recent years owing to its proximity to various employment hubs and company offices. These include:

  • Idea Hub Productions Pvt Ltd.

Schools in Lokhandwala and other social amenities

Read also : Mumbai-based builder arrested for cheating hundreds of flat buyers

Lokhandwala provides its residents with all kinds of social amenities to live a happy and peaceful life. They include various schools and hospitals.

Ryan Global School, Ashok Academy, Jankidevi Public School, Gyan Kendra Secondary School, Lokhandwala Foundation School, Rajiv Gandhi Institute of Technology and many others, enjoy being the famous educational institutions in and around Lokhandwala.

Of the social amenities provided by Lokhandwala, the major health institution dominating the locality include Sanghavi Hospital, Jeevan Jyoti Hospital, Shivam Netram Eye Hospital.

Apart from these it also provides the luxury of enjoying recreational amenities and proximity to various banks and ATMs.The locality also provides its residents with many luxurious shopping centres and movie halls.

Physical infrastructure in Lokhandwala

Read also : Three years’ advance rent for redevelopment: Will it help SRA projects?

Mumbai Metropolitan Region Development Authority (MMRDA) has approved setting up of a metro railway line linking Lokhandwala and Kajurmarg.

  • Price appreciation in Lokhandwala : around 3 % in last 6 months.
  • Current property rates in Lokhandwala : Rs 18,964 – Rs 29,571 per sq ft.

Reasons to invest in Lokhandwala

Considering the increasing price trends Lokhandwala and the obvious rise in demand, the locality willdefinitely prove to be a good investment. The ever increasing economy of the locality has caused a steady increase in property prices to take place and that is promising for investors. Presence of more and more commercial hubs in and around the locality is making Lokhandwala a preferred residential destination of Mumbai.

Big ticket projects Mayfair Page 3, Oberoi Sky Gardens, The Lion park and Kabra Pratap Residential are here to make Lokhandwala a rather posh and coveted residential neighbourhood.

Check properties in Lokhandwala

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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