It might just be a coincidence but the south direction seems to be quite lucky for our metropolitan cities. The southern parts of almost every metro city is better off than its other counterparts, and is more posh, sophisticated and well-organized. You can take South Delhi and South Bangalore as examples. The real estate is such areas is also more appealing, luxurious and comparatively costly.
Like any other city, South Mumbai is also beaming with posh pride. It is reported as the richest urban precinct in the country. The real estate in Mumbai for sale is offered by some of the most renowned builders of the country. The area comprises of the main business centers of Mumbai and is roughly denoted as the area from Colaba to Mahim. Flanked by the Arabian Sea on the west and Mumbai Harbour on the East, South Mumbai makes the perfect location for an extravagant lifestyle. Some of the most popular residential areas of Mumbai, like Lower Parel, Dadar, Prabhadevi and Worli, fall in this region. The locality is also home to many Bollywood celebrities.
Click Here for Current Property Price Trends in South Mumbai
Real estate in South Mumbai has been improving by the year and so are the property rates in the localities around it. According to the latest price trends reports published on Investors Clinic website, the average property price for a home in South Mumbai is recorded at Rs 34,341 per square feet. Like any other property location, South Mumbai also witnessed several peaks and troughs in its price trends graph. However, the result after all remained quite constant. Rather interestingly, prices skyrocketed in April and May 2015 and crossed a value of more than Rs 44,000 per square feet.
Localities that show prices higher than the South Mumbai average are-
Worli at Rs 44,900 per square feet
Prabhadevi at Rs 39,364 per square feet
Other localities like Lower Parel, Dadar East, Dadar West, Mahalaxmi and Tardeo had property prices at lower than or equal to the average rates in the area. Being the main center of the city’s commerce and business, South Mumbai will continue to be demanded as a dynamic real estate destination. More upmarket residential nodes are expected to come up in the future.
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