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Flats Under 2 Crore for sale in Parel, Mumbai
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1.
Overview of Parel
- Parel is a luxury locality situated in the elite South Mumbai.
- It offers some of the most premium housing properties in Mumbai.
- It is a major commercial district & has some of the most prestigious corporate hubs.
- This locality has a constant high demand for both residential & commercial spaces.
- It houses recreational facilities & modern amenities, offering convenience to the locals.
- It’s popular for excellent social infrastructure & seamless connectivity.
- The famous Lalbaug Cha Raja Temple is located in Parel.
- The Pin Code of Parel is 400012.
2.
Parel Residential Market Insights
- The average price for housing property in Parel is ₹ 43,500 per sq. ft.
- 1 BHK flat in Parel can be priced between ₹ 1 crore - ₹ 2.10 crore.
- 2 BHK Flat in Parel can be priced between ₹ 2.9 crore - ₹ 4.80 crore.
- Pricing for 3 BHK Flats in Parel can range anywhere between ₹ 4.60 crore - ₹ 7.5 crore.
- Pricing for 4 BHK Flats in Parel can range anywhere between ₹ 7.5 crore - ₹ 12 crore.
- The exact pricing for an apartment in Parel can vary depending on the property’s location, developer, and amenities.
- It is one of the best rental localities due to good connectivity, high-end properties, and proximity to workplaces.
- The average monthly rental value for a property in Parel is ₹ 40,100 - ₹ 3,40,000.
- The exact rental value will depend on certain factors like the number of rooms, amenities & services offered, and the location of the project.
3.
Connectivity and Transportation In Parel
- Parel Railway Station & Prabhadevi Railway Station offer vast connectivity to locals.
- The locality is seamlessly connected to various parts of Mumbai via the railways.
- Other nearest railway stations to Parel are Dadar Railway Station, Wadala Railway Station, and Cotton Green Railway Station.
- The Lower Parel Monorail stop is in proximity & connects from Wadala to Jacob Circle.
- Major roads like Eastern Express Highway & Eastern Freeway boost connectivity.
- Other key roads, such as Currey Road, Senapati Bapat Marg, Pandurang Budkar Marg, and NM Joshimarg, enhance accessibility.
- Parel has good road infrastructure, resulting in easy & quick travel time.
- Public transportation options like Buses, Taxis, & Cabs are easily available.
- Chhatrapati Shivaji Maharaj International Airport is just 16 km away.
4.
Social Infrastructure In Parel
- Parel houses a plethora of amenities, including hospitals, schools, colleges, and restaurants, catering to the needs of residents.
- Reputed hospitals like Tata Memorial Hospital, ESI Mahatma Gandhi Memorial Hospital, Global Hospital, K.B. Haji Bachooali Charitable Ophthalmic, etc., are nearby.
- Popular Schools like K.M.S. Dr. Shirodkar High School, JBCN International School, Kamaladevi Gobindram Tahiliani High School, etc., are within easy reach.
- Malls like Grand Galleria, Nakshatra Malls, Gandhi Market, Phoenix Palladium, etc., serve the shopping needs of the locals.
- The State-of-the-Art Piramal Museum is located just 14 minutes away.
- Parel is home to some prominent historical landmarks, like former mill areas and the very famous Lalbaugha Raja Temple.
5.
Employment Opportunities In Parel
- Lower Parel, a part of Parel, is well-known as a commercial hub comprising numerous business spaces.
- Commercial Hubs of Lower Parel are approximately 2 km away.
- Worli Commercial Hubs are approximately 4 km away.
- The prominent Kamala Mills Compound is only 3 km away.
- Bandra Kurla Complex (BKC) is just 29 minutes away via Eastern Express Highway.
- Parel is surrounded by Industrial Estates such as Mahalaxmi Industrial Estate, Navyug Industrial Estate, and Manoj Industrial Estate.
- Many commercial spaces like One Lodha Place, Peninsula Business Park, Marathon Futurex, Kamala Trade Link, Ashford Center, DBS Business Center, Empire Business Centre, etc., are in close proximity to the locality.
- Excellent connectivity of Parel and ease of accessibility via various modes of transport significantly increase the employment opportunities for the locals.
- The locality’s proximity to key employment zones is one of the major reasons for driving rental demand.
6.
Lifestyle In Parel
- Parel enjoys a high-end, comfortable, & luxurious lifestyle.
- It is known for its premium residential options that offer a widely desirable and pleasant living environment.
- Several Recreational Facilities, including Matterden CFC, Funky Monkeys Play Center, Tryst Nightclub, Smaaash, Manoranjan Maidan, etc., are close by for the residents to spend some quality time or simply unwind.
- Sports & Fitness Centers in and around Parel include Z-Bat Clinic, The Strength Company, Mr Fitness Center, Cult Lower Parel, and The Integral Space.
- It is in proximity to famous historical landmarks such as the Gateway of India, the Chhatrapati Shivaji Maharaj Terminus (CST), the Taj Mahal Palace Hotel, etc.
- Parel enjoys a thriving nightlife with fine dining options, clubs, and peaceful locations.
7.
Safety and Security In Parel
- Parel is considered one of the safest localities in Mumbai.
- Majority of the residential areas and commercial buildings have installed surveillance systems and security personnel to ensure safety.
- Most public places in the locality are under CCTV surveillance for safety purposes.
- Police patrolling is conducted frequently, it is heavier especially at night.
8.
Development and Future Prospects In Parel
- Newly emerging Terminals at Parel will improve the railway network of the locality.
- Aqua Metro Line is set to link Parel to Cuffe Parade via Dadar.
- New developing railway lines between Kurla & Parel stations will benefit the daily commuters.
- The development of Metro connectivity and road expansions will lead to improved accessibility of the locality.
- Residential areas in Parel are evolving with a focus on building more integrated communities offering high-end apartments.
- All the ongoing developments and infrastructural improvements will lead to boosted property values and make the locality a promising investment destination.
9.
Cultural and Community In Parel
- Mirabai Temple is one of the most significant religious sites located in Parel.
- Lalbug Cha Raja Temple located in Parel, is known to have one of the largest Ganpati Visarjan and celebrations in Mumbai.
- Other religious places in Parel include Swami Samartha Temple, Datta Mandir, Mahalakshmi Temple, Shani Temple, and Holy Family Chapel are nearby.
- Parel offers a diverse cultural community, where all festivals and traditions are celebrated together among the residents.
- Cultural Centers like the Asiatic Society of Mumbai and the Nita Mukesh Ambani Cultural Centre (NMACC), which present and preserve various cultural events, are located nearby.
10.
Environmental Factors In Parel
- Parel offers a well-maintained, clean, & serene environment with several green spaces in and around the locality.
- Many gardens & parks in Parel, like Hutatma Rajguru Udyan, Bhivaji Rao Nare Park, Aakaram Gangaram Satam Udyan, Prof. Waman Rao Mahadik Sankalpana Udyan, etc., offer residents a place to peacefully rest or enjoy a relaxing stroll.
- Residents in Parel follow a peaceful livelihood with a family-friendly neighbourhood.
- Air quality in Parel is moderate, considering all the ongoing developments and improvements in the locality.
11.
Flat Configuration In Parel
- Parel offers Flat Configuration of 1 BHK, 2 BHK, 3 BHK, and 4 BHK.
- The locality primarily has 2 BHK and 3 BHK apartments at premium rates.
- 2 BHK is the most preferred Flat Configuration by homebuyers in Parel.
- Villas and Independent Houses are also available in the locality.
- Some projects offer bare shell units for easy customization and flexibility.
12.
Property Price Growth In Parel
- Housing Properties in Parel have experienced 4% YOY price growth and 12% price appreciation in the last 3 years.
- Growing demand for housing properties and improving amenities have led to a consistent price increase in the locality.
- Influx of working professionals, along with seamless connectivity of Parel, results in a constant increase in the rental value here.
Frequently Asked Questions
Some of the top residential areas in Parel include Mahalaxmi, Matunga, Dadar.
Parel offers Apartment, catering to various budget segments.
The average property price in Parel ranges from ₹41,900 to ₹44,050 per sq.ft., depending on the location and amenities.
Parel is well-connected via Mumbai Central, Mahalakshmi, Grant Rd, Parel, Prabhadevi.
The metro stations in and around Parel include key stops such as Acharya Atrey Chowk, Worli, Mahalaxmi, Dadar, Siddhivinayak Temple, providing convenient connectivity to major areas.
Yes, areas like offer budget-friendly housing options in Parel.
Areas like Naigaon Cross Road, Dr Ernest Borges Road, Dr. SS Rao Marg, Bhoiwada, Near G D Ambekar Road with price range above ₹1.45 Cr are known for luxurious residences in Parel
Yes, Parel offers several luxurious housing options priced above ₹1 crore, featuring premium amenities, spacious interiors, and prime locations.
Top 5 properties are:
Top 5 properties are:
