Flats Under 5 Crore for sale in Parel, Mumbai

• Parel is strategically located near to the Eastern Express Highway and the Eastern Freeway. This enables its connection to other parts of the Mumbai, Thane, and Western suburbs. 
• Its proximity to the Eastern Freeway enables its connectivity to the Mumbai Trans Harbour Link, which further connects it to Navi Mumbai. Parel-Prabhadevi and Lower Parel railway stations link it to the Central and Western suburbs.
• Due to its smooth transport network, Bandra-Kurla Complex, Lower Parel, and Nariman Point are easily accessible for working professionals. It is just 18 Km away from the Chhatrapati Shivaji Maharaj International Airport.

• The residential demand in Parel keeps growing due to its expansive commercial hubs. There are prominent commercial hubs and industrial estates in and around Parel. BKC, Nariman Point and Lower Parel are a few of the key commercial places nearby.
• Lodha Excelus, Peninsula Business Park, Marathon Icon, and One World Centre are some of the top business parks in the vicinity of Parel.
• Phoenix Mills, Mahalaxmi, Navyug, and Manoj Industrial Estate are within 20 minutes of reach from Parel. Due to its proximity to workplaces, Parel is one of the preferred destinations for individuals looking for a home in Parel.

Parel is just 18 Km away from the Chhatrapati Shivaji Maharaj International Airport. It will take around 40-50 minutes to reach there via Eastern Express Highway. Bus and cab services are also easily available. It will also take a 20-25 minutes drive to reach the upcoming Navi Mumbai International Airport via Atal Setu.

Parel is one of the eminent locations in South Mumbai. Thus, it has a presence of the top developers. Lodha, Runwal Group, L and T Realty, Raheja Universal, Ruparel Realty, Kalpataru Limited, and Peninsula Land are some of the popular developers in the locality.

• Parel comprises a plethora of residential options ranging from standalone buildings to gated communities by renowned developers.
• The locality offers moderate, premium residential options to high-end, palatial apartments. The affordability of the residences depends on the carpet sizes and the project type. Lower Parel comprises expensive and affluent residential options.
• Due to its proximity to major commercial places, Parel is one of the preferred rental hubs and provides lucrative rental yields. You can also get the best value on the resale properties.
   

• Parel offers a wide range of configurations from mid-segment, cosy apartments to high-end, capacious apartments.
• The configurations in Parel range from 1 BHK and 2 BHK to 3 BHK and 4 BHK apartments. 2 BHK is the popular configuration in the locality.
• Parel has witnessed a price appreciation of 5.5% in the last one year.
  
  Average price of flats in Parel
   

• Parel has flourished with a robust social infrastructure, offering deluxe utilities for its residents. Every necessary convenience is nearby.
• JBCN International School, N.M Joshi School, DSB International School, ABA College of Law, The Learning Curve, etc., are some of the popular educational institutions in and around Parel.
• ESI Mahatma Gandhi Memorial Hospital, Tata Memorial Hospital, Global Super Speciality and Transplant Centre, Parel Institute of Orthopaedic Specialities, etc., are some of the renowned hospitals in the vicinity.

Lower Parel - (₹ 60,000-65,000 per sq. ft.)

Prabhadevi - (₹ 60,000 - 75,000 per sq. ft.)

Worli - (₹ 65,000 - 100,000 per sq. ft.)

Dadar West - (₹ 50,000 - 60,000 per sq. ft.)