The luxury residential market has been on an upswing post the pandemic, with its overall sales share growing to 14% in the first half of 2022. Most of the luxury residential market is dominated by South Mumbai which is known for its uber-luxury residences and top-notch localities. The zone has witnessed up to a 15 percent hike in the average home prices in the last one year.
Out of the most swanky residential locations in South Mumbai, Mumbai Central is fast becoming the most sought after locations for people looking for luxury apartments in Mumbai. An ultimate address of luxury, Mumbai Central is featuring stunning skyscrapers comprising palatial residential homes with breathtaking views and spectacular amenities. Formerly called Bombay Central, it is one of the major regions in the western line whose railway station is popular for local and express trains. Some of the popular localities in this region are Altamount Road, Nepean Sea Road, Moorland Road, Breach Candy, Dr A L Nair Road, Tardeo, Bellasis Road and many other such popular localities. Other than residential landmarks the region has few other landmarks like Wockhardt Hospital, Maratha Mandir, Reserve Bank of India, Air Condition Market, RTO Tardeo, BYL Nair Charitable Hospital, YMCA Ground, Sundatta High School and many other such landmarks.
Commenting about the location, Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Private Limited (SDPL) said, “South Mumbai has always been an ultimate aspirational destination when it comes to luxury real estate. Mumbai Central in South Mumbai is one such expensive part to live and also work in for several reasons. Location is the most crucial factor that helps end-users and investors in the final decision-making process and Mumbai Central offers that uniqueness in terms of locality and proximity to workplace.
The location offers an excellent value proposition with extravagant luxury living experience. However, Mumbai Central doesn’t have too much bandwidth remaining to support constantly growing infrastructure and development. As a result, in the coming years, it will see a wave of development and that is going to be an unparalleled opportunity for developers and property buyers alike. With a number of new launches expected in the vicinity, this upmarket neighbourhood is garnering significant interest from the homebuyers and investor community as well.
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Mumbai Central is well-connected to the commercial hubs of Nariman Point, Cuffe Parade, Lower Parel & Worli and is a very prominent residential and commercial location in South Mumbai. The locality is aided by public transport at all times and an established social infrastructure. It enjoys excellent connectivity and is largely self-sufficient with high-grade educational and healthcare institutions as well as hotels and fine dining restaurants available.
South Mumbai’s popularity among homebuyers is primarily because of the connectivity and the amenities it offers. The upcoming Mumbai Metro Line 3, also known as the Colaba-Bandra-SEEPZ corridor, and the Mumbai Trans Harbour Link Project (MTHL) are expected to augment the connectivity further and propel the housing demand in the zone.
Also Read: NCR Unsold Stock Declines 12% Y-o-y, West India by 10%, 32% Increase in South India
