Real Estate Developers

Friday, 19 September 2014

Trends in Luxury Property in Mumbai

Luxury housing in Mumbai has completely changed from the last few years. Preference for luxury property in Mumbai has shifted as the CBD and Diamond Market has moved to Bandra Kurla Complex (BKC).

People are spending big bucks on buying luxury flats in Worli because of it’s close to the Sea Link for quick access to BKC. Most of corporate employees looking to stay close to their offices are looking for properties in the Bandra-Khar-Santacruz belt. Additionally, the Diamond Market is also moving to BKC so high priced flats are being bought by diamond traders who are shifting to these areas and to Worli for quicker access to their shops.

Even the Andheri-Malad-Goregaon-Powai belt is witnessing an increase in demand for premium properties. This can be the result of various Media, SME, FMCG and Pharma companies have shifted their headquarters to the present space. Various television and film artists are also spending huge amounts on plush properties in this belt because of they want to live closer to the major studios. Proximity to the metro stations, airport, and highways are some of the key factors due to which the Andheri-Malad-Goregaon belt is seeing an amazing growth in demand for luxury properties.

A new ‘affordable luxury’ trend is also becoming more popular. Developers are catering the not-so-rich with luxurious yet affordable 2 and 3 BHK flats in Mumbai. Suburbs such Malad, Goregaon, Vikhroli, Airoli, Bhandup and Ghodbunder Road in Thane are offering several choices in this category to buyers. Overall living standard and improvement in these areas is so high.

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