Lower Parel property market: An overview

[ecis2016.org] Lower Parel is located in southern Mumbai. Southern Mumbai has many important areas and Lower Parel has also joined this list, as one of the commercial hubs. It is also a prime residential area

Lower Parel is located in the heart of the city and surrounding it are posh localities like Worli, Parel, and Mahalaxmi. Lower Parel has excellent residential complexes, along with important commercial complexes. It is home to Peninsula Business Park and Marathon Futurex. The real estate of Lower Parel is extremely well-developed and the demand for this area is on the rise, as residential and commercial complexes are increasing. Several builders in Lower Parel like Ajmera Cityscapes and 360 Degrees are constructing residential complexes. There are flats in Lower Parel ranging from 2-BHK to 5-BHK. The amenities and services vary according to the buyer’s budget. There are also several apartments and independent houses in Lower Parel.

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Connectivity with nearby Lower Parel localities

• The distance from Chhatrapati Shivaji Maharaj International Airport to Lower Parel is 19 kilometres.
• The distance from Mumbai Central railway station to Lower Parel is 6.8 kilometres.
• There are several bus stops which help to connect with other parts of the city.

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Employment hubs near Lower Parel

• The distance from Bandra to Lower Parel is 8.2 kilometres.
• The distance from Nariman Point to Lower Parel is 10.7 kilometres.
• The distance from Vikhroli to Lower Parel is 15.6 kilometres.
• The distance from Andheri east to Lower Parel is 17.3 kilometres.

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Schools in Lower Parel and other social amenities

Various schools in Lower Parel include Muktangan English School and Jr College and Helen Keller Institute for Deaf & Blind. The hospitals in Lower Parel are Nirmala Hospital Maternity and GDA Impex, among others. Shopping complexes in Lower Parel are High Street Phoenix Mall and Palladium. Banks in Lower Parel include IDBI Bank LTD and Axis Bank ATM. The various restaurants in Lower Parel include Indigo Delicatessen and Domino’s Pizza. Matoshri Ramabai Thackeray Udyan and K Laxman Garden are the parks in Lower Parel.

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Price trends in Lower Parel

The price trends in Lower Parel from October 2016 to December 2016 have been as follows: The highest rate for a multi-storey building is Rs 40,140 per sq ft, the average rate is Rs 31,667 per sq ft and lowest rate is Rs 23, 194 per sq ft.

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Reasons to invest in Lower Parel

Lower Parel is one of the most important areas of Mumbai today. It is a posh area and it is also surrounded by other posh areas. In this area, the most important offices and business hubs are located and along with it are the top most residential complexes. Big real estate developers are investing a lot in this area. Lower Parel is located in the heart of the city and all the important localities are close by. The social infrastructure of this area is also very well-developed with many schools and colleges. There are many well-equipped hospitals that provide a wide range of facilities. There are many refreshment options too, like restaurants, parks and cinema hall. The airport and railway stations are also easily accessible.

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