The luxury residential market has increased since the pandemic, with its overall sales share growing to 14% in the first half of 2022.
Most of the luxury residential market is dominated by South Mumbai, known for its uber-luxury residences and top-notch localities.
The zone has witnessed up to a 15 percent hike in the average home prices in the last year.
Out of the most expensive residential locations in South Mumbai, Mumbai Central is fast becoming the most sought-after location for people looking for luxury apartments in Mumbai.
An ultimate luxury address, Mumbai Central features stunning skyscrapers comprising palatial residential homes with breathtaking views and spectacular amenities.
Formerly called Bombay Central, it is one of the significant regions in the western line whose railway station is famous for local and express trains.
Some popular localities in this region are Altamount Road, Nepean Sea Road, Moorland Road, Breach Candy, Dr. A L Nair Road, Tardeo, Bellasis Road, and many other popular localities. Other than residential landmarks, the region has a few landmarks like Wockhardt Hospital, Maratha Mandir, Reserve Bank of India, Air Condition Market, RTO Tardeo, BYL Nair Charitable Hospital, YMCA Ground, Sundatta High School, and many other such landmarks.
Location is the most crucial factor that helps end-users and investors in the final decision-making.
“South Mumbai has always been an ultimate aspirational destination when it comes to luxury real estate. For several reasons, Mumbai Central in South Mumbai is one such expensive part to live in and work in. Mumbai Central offers that uniqueness in terms of locality and proximity to the workplace. The location offers an excellent value proposition with an extravagant luxury living experience. However, Mumbai Central lacks the bandwidth to support constantly growing infrastructure and development. As a result, in the coming years, it will see a wave of development, which will be an unparalleled opportunity for developers and property buyers alike. With several new launches expected in the vicinity, this upmarket neighborhood garners significant interest from the homebuyers and investor community.”Commenting about the location, Mr. Himanshu Jain, VP – of Sales, Marketing & CRM, Satellite Developers Private Limited (SDPL), said,