Powai property market: An overview

[ecis2016.org] Powai is a suburban locality situated to the north-east of Mumbai. It lies on the banks of the Powai Lake

A well-developed locality of Mumbai, Powai is bordered by LBS Marg (which is the old Mumbai-Agra Road) in the north-east, Sanjay Gandhi National Park in the North, hills of Vikhroli Park site in the south-east and Chandivali in the south-west. It houses some of the major companies’ offices. The Indian Institute of Technology (IIT) is located in Powai. Renowned builders like Nahar Group, Rajesh LifeSpaces, Ekta Group, Shrisyhi Group and Hiranandani Group, have been investing in this locality for years now.

You are reading: Powai property market: An overview

The locality is well linked to various developed areas of Maharashtra and a number of hotels, schools, banks and hospitals via an excellent network of railways and roadways. The locality is witnessing an increase in population in recent years, owing to its proximity to various employment hubs.

Connectivity with nearby Powai localities

• Jogeshwari-Vikhroli Link Road (JVLR) passing through Powai, links major portions of Mumbai.
• The nearest railway station is the Kanjurmarg railway station
• The nearest airport is the Chhatrapati Shivaji International Airport, which is located at a distance of 5 kilometres.
• It also lies close to localities Chembur, Mulund, Ghatkopar and Kurla.

[ecis2016.org] Property rates & trends in Powai, Mumbai

Employment hubs near Powai

Read also : Jinnah House row: Bombay HC allows Nusli Wadia to replace his mother as petitioner

These include offices set up by some of the leading companies, such as:

• Deloitte
• Crisil
• Bayer
• Larsen and Toubro (L&T) India

Schools in Powai and other social amenities

Powai provides its residents with all kinds of social amenities to live a happy and peaceful life. Various schools in Powai include Gopal Sharma Memorial School, Chandrabhan Sharma Junior College, Pawar Public School and many others.

The major hospitals in Powai include Ramani Health Care Center, Wellness Forever, Dr LH Hiranandani Hospital, Care & Cure Maternity & Nursing Home and Ageless Medica. Apart from these, it also provides recreational amenities and proximity to various banks and ATMs.

The locality also provides its residents with many luxurious shopping centres such as D-Mart, Galleria and R-City Mall.

Physical infrastructure in Powai

Read also : NGT refuses to stay tree felling for housing society in Aravalli hills

Plans for the development of new link roads, have been made by the government.

Price trends in Powai

• Price appreciation – Around 17.9 % in last 2 years.
• Current property rates – Rs 15,433 –Rs 23,405 per sq ft.

Reasons to invest in Powai

Considering the increase in property prices in Powai and the obvious rise in demand, the locality is sure to be a good investment in the future. The presence of business offices in and around the locality, is making Powai a coveted working, as well as residential destination of Mumbai.

Big-ticket projects like Kalpataru Woods Ville, SPRE Vicinia, Hiranandani Developers Zen and Hiranandani Developers Castle Rock, make Powai a preferred residential neighbourhood and could also bring a surge in property prices in the future.

Check properties in Powai

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

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