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Flats Under 3 Crore for sale in Lower Parel, Mumbai
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About Properties In Lower Parel, Mumbai for Sale
Overview of Lower Parel
- Lower Parel is one of the prime localities in South Mumbai.
- 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 Mumbai.
- 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 Mumbai.
- 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 Mumbai.
- The upcoming Delisle Road Bridge will reduce the traffic congestion in the Lower Parel locality.
- The upcoming Mumbai 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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Frequently Asked Questions
What are the popular residential areas in Lower Parel?
Some of the top residential areas in Lower Parel include Sewri, Worli, Parel.
What types of properties are available in Lower Parel?
Lower Parel offers Apartment, Commercial Office, catering to various budget segments.
What is the average property price in Lower Parel?
The average property price in Lower Parel ranges from ₹50,000 to ₹52,800 per sq.ft., depending on the location and amenities.
What are the metro stations in and around Lower Parel?
The metro stations in and around Lower Parel include key stops such as Mumbai, Maxim, ShivShakti C.H.S, Four Seasons Hotel Mumbai, The St. Regis Mumbai, providing convenient connectivity to major areas.
Are there affordable housing options in Lower Parel?
Yes, areas like offer budget-friendly housing options in Lower Parel.
What are nearby locations in Lower Parel within 3KM?
Lower Parel is home to a mix of vibrant residential neighborhoods and bustling commercial hubs.Residential areas near Lower Parel
Are there luxurious housing options in Lower Parel?
Areas like Ganapatrao Kadam Marg, Near Mumbai Mile, Shankar Rao Naram Path, Senapati Bapat Marg, Sitaram Jadhav Marg with price range above ₹11.29 Cr are known for luxurious residences in Lower Parel
Are there luxurious housing options in Lower Parel priced above ₹1 crore?
Yes, Lower Parel offers several luxurious housing options priced above ₹1 crore, featuring premium amenities, spacious interiors, and prime locations.Top 5 properties are: