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About Properties In Near Mumbai Mile, Lower Parel, Mumbai for Sale
Overview of Lower Parel
- Lower Parel is one of the prime localities in South .
- The locality is known as an epitome of modern & convenient living.
- Lower Parel is famous for premium residential towers, skyscrapers, & iconic commercial hubs.
- It is one of the most preferred real estate localities due to its sound connectivity & excellent social infrastructure.
- There are a plethora of recreational activities here, offering residents quality leisure.
- The Pin Code for Lower Parel is 400013.
Lower Parel Residential Market Insights
- The average cost for property in Lower Parel is ₹ 52,000 per sq.ft.
- Lower Parel is a costly area comprising expensive apartments and skyscrapers.
- The price for 1 BHK flat in Lower Parel can range between ₹ 1.38 crore - ₹ 3.6 crore.
- The price for 2 BHK flat in Lower Parel can range between ₹ 2.90 crore - ₹ 5 crore.
- The price for 3 BHK flat in Lower Parel can cost around ₹ 6.4 crore - ₹ 11.5 crore.
- The price for 4 BHK flat in Lower Parel can cost around ₹ 9.5 crore - ₹ 16.50 crore.
- The price for 5 BHK flat in Lower Parel is around ₹ 13.20 crore - ₹ 40 crore.
- The exact price for the apartments may vary and will depend on the exact location, number of rooms, amenities offered, and developer of the property.
- The rental market in Lower Parel thrives due to its exceptional infrastructure, connectivity, & proximity to workplaces.
- The monthly rental value for a property in Lower Parel can be anywhere between ₹ 15,000 - ₹ 50,000.
- Lower Parel offers some of the elite apartments by reputed Grade A developers.
Connectivity and Transportation In Lower Parel
- Lower Parel Railway Station provides convenient connectivity to the locals.
- It also has a dedicated Lower Parel Monorail Station that links Lower Parel to Chembur & Wadala.
- Major Roadways like the Eastern Express Highway and Bandra - Worli Sea Link provide residents with seamless connectivity to all parts of the city.
- Lower Parel is strategically located between Worli, Sewri, Chinchpokali, & Naigaon.
- It is also seamlessly connected to its nearby localities via Elphinstone Road, Currey Road, Senapati Bapat Marg, & Arthur Road.
- Public Transportation like BEST Buses, Taxis, Cabs, etc, are available at good frequency.
- Shivaji Maharaj International Airport is only 14 minute drive away.
- An excellent connectivity of Lower Parel makes it one of the ideal real estate locations for both the homebuyers & the investors.
Social Infrastructure In Lower Parel
- Lower Parel is known for its impressive social infrastructure that allows residents to enjoy easy accessibility to their everyday needs & luxury.
- Reputed Medical Facilities, such as TATA Memorial Hospital, Nowrosjee Wadia Maternity Hospital, KEM Hospital, & Global Hospital, are nearby.
- Prestigious Educational Institutes in the vicinity are DBS International School, Greenlawns High School, Maharshi Dayanand, & Kamaladevi Gobindram High School.
- Lower Parel houses Phoenix Palladium, one of the largest shopping malls in .
- The locality consists of various luxury skyscrapers & high-end residential properties such as “Indiabulls Sky”, “The World Towers”, and “ Lodha Park”.
- Leading Banks, Shopping Plazas, and Markets are within easy reach of this locality.
- The brilliant and convenient infrastructure of Lower Parel is one of the major reason that makes this locality, a place of interest for many.
Employment Opportunities In Lower Parel
- Lower Parel houses several Industrial Estates such as A to Z Industrail Estate, Cama Indsutrial Estate, Kewal Industrial Estate, Ideal Industrial Estate, etc.
- The locality has many business parks & commercial zones, including Peninsula Corporate Park, One World Center, Business Arcade Tower, Urmi Estate, etc.
- There are various MNCs also located in and near the Lower Parel locality, boosting employment opportunities for the locals.
- Important Job Centers such as Worli, Mahalaxmi, & Dadar are within 5-10 km.
- The Central Business District (CBD) of Bandra Kurla Complex is just 11 km away and can be reached via Senapati Bapat Marg.
- Lower Parel enjoys easy connectivity to key employment hubs such as BKC, Nariman Point, and Colaba.
Lifestyle In Lower Parel
- Lower Parel has a highly comfortable & luxurious lifestyle.
- This locality houses several trendy restaurants and cafes that offer a fine dining experience, making it a desired location for food lovers.
- There are several Tourists Attractions in this locality, such as Shree Siddhivinayak Temple, Nehru Science Center, the Piramal Museum of Art, and Shivaji Maharaj Park.
- Lower Parel has a lively, thriving nightlife.
- It houses several trendy clubs, like Kamala Mills, and popular venues like Permit & Co. that hosts music events, dance, & fun.
- One can enjoy experiences like Smaaash & Mystery Rooms or a simple late-night drive along the scenic beauty around the locality.
Safety and Security In Lower Parel
- Lower Parel is one of the premium and safest localities in South .
- Societies, Public places, & other major areas are covered under CCTV surveillance for safety purposes.
- Police Patrolling is carried out 24x7 and is heavier at night.
Development and Future Prospects In Lower Parel
- The Metro Service, just a km away from the locality, will soon be accessible via the Acharya Atrey Chowk Station on the in-progress Colab - Bandra - Seepz Line.
- Aqua Metro Line will soon link Lower Parel to Cuffe Parde through Worli stop.
- The ongoing Trans-Harbour Link that will be connecting Sewri to Uran aims to offer an easy access to Navi .
- The upcoming Delisle Road Bridge will reduce the traffic congestion in the Lower Parel locality.
- The upcoming Coastal Road is expected to improve access to Dahisar.
- There are several other social infrastructures and luxury residential zones in progress.
Cultural and Community In Lower Parel
- Lower Parel offers a vibrant blend of cultural experiences with several different traditions coming together harmoniously.
- There are many Religious Places in Lower Parel, including Lower Parle Chi Mauli, Shree Swami Samarth Math, Hanuman Mandir, Buddhist Temples, and Churches.
- Some Cultural Communities here include Trumurti Dham Mandir Seva Samiti, Aditya Seva Mandal, etc.
- Royal Opera House, the historic venue located near Lower Parel, hosts several cultural events, including theatre acts, musical performances, & dance.
Environmental Factors In Lower Parel
- Lower Parel is a clean and well-maintained locality with all civic & modern amenities.
- There are several gardens & parks in the vicinity of the locality, like Balasaheb Thackery Udyan, Bhivaji Rao Nare Park, BMC Park, Linear Park, Parel Baug, etc.
- The presence of various green spaces in & around the locality allows the residents to enjoy a relaxing stroll or simply spend some peaceful time in nature.
- The air quality in Lower Parel is between fair and moderate.
Flat Configuration In Lower Parel
- Lower Parel offers 2 BHK, 3 BHK, and 4 BHK flat configurations at premium rates.
- 3 BHK is the most preferred unit configuration by homebuyers in Lower Parel.
- Majority of homebuyers prefer property that costs over 1 crore in this locality.
- Villas, Independent Floors, & Plots are also available here.
Property Price Growth In Lower Parel
- Lower Parel has witnessed a price appreciation of 16% in the last 3 years.
- The increasing demand for housing property and the improving connectivity to employment hubs will lead to an increase in property values in Lower Parel.
- The influx of working professionals in the locality and development of more commercial zones will lead to an increase in the rental values as well.
- The property rates in the region are expected to witness a significant appreciation once the ongoing infrastructural projects are completed.
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