Why Bandra, Juhu, Worli, South Mumbai property prices in Premium segment similar?

Why Bandra, Juhu, Worli, South Mumbai property prices in Premium segment similar?

Why Bandra, Juhu, Worli, South Mumbai property prices in Premium segment similar?

The premium real estate segments in Bandra, Juhu, Worli, and South Mumbai have similar pricing due to a combination of several key factors:

The prices are ranging from Rs.60000/- on a lower side to a Rs.120,000/- and even above for Carpet Areas in all these locations.

Any apartment which is having some View - Higher Floor - Sea Facing - Garden Facing - Amenities facing will have better pricing due to the USP it has. Malabar Hill last Lodha Malabar deals are done at 1.40 Lakhs PSF. Similarly in Juhu and Bandra any thing which is Sea Facing is costing similar values. Bandra West - Carter Road - Bandstand also command similar pricing for high end apartments.

A few factors:

  1. Prime Locations: Each of these areas is strategically located, offering proximity to the Arabian Sea, central business districts, and major transport links. Their appeal as desirable residential neighborhoods contributes to high demand and, consequently, elevated property prices.

  2. Lifestyle and Amenities: Bandra, Juhu, Worli, and South Mumbai provide a rich lifestyle experience, with access to high-end restaurants, shopping districts, schools, hospitals, and recreational facilities. These amenities attract affluent buyers and renters, maintaining high demand for premium properties.

  3. Cultural Significance: These neighborhoods are culturally vibrant and have historical significance, which adds to their allure. Bandra, for instance, is known for its artistic community, while South Mumbai boasts heritage architecture and a cosmopolitan vibe.

  4. Real Estate Development: Ongoing redevelopment and new luxury projects in these areas keep the market competitive. High-end developments often come with modern amenities, which can elevate property values across the board.

  5. Investment Potential: Buyers view properties in these locations as stable investments due to their consistent demand and potential for appreciation. This perception drives prices higher as investors compete for limited premium offerings.

  6. Limited Supply: The scarcity of available land in these established neighborhoods leads to a limited supply of premium housing. With high demand and low supply, prices naturally escalate.

  7. Connectivity: Excellent connectivity to key commercial hubs and transport infrastructure, including metro lines and expressways, enhances the appeal of these locations for affluent buyers seeking convenience.

  8. Market Trends: Similar market trends and investor sentiments in these premium segments mean that fluctuations in demand and pricing can be mirrored across these neighborhoods, maintaining parity in property values.

These factors combined create a competitive landscape that results in similar pricing structures in the premium segments of Bandra, Juhu, Worli, and South Mumbai.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/