All You Need to Know About Housing in Powai

When we talk about the many upscale residential neighbourhoods in Mumbai, Powai’s name pops up regularly. Situated by the bank of Powai Lake, Powai continues to be a highly sought-after residential real estate market. Over the years, Powai has become the start-up hub of the city, now benefitting from a wave of world-class infrastructural development. Add to that the passage of the Jogeshwari-Vikhroli Link Road through the suburb, and you get a location with ultimate urban connectivity. 

Thus, from millennials to families, everyone has a reason to build the perfect life in well-developed, ready-to-move flats in Powai across many prestigious societies and complexes. If you are looking to purchase a flat in Powai for sale, then here’s a ready reckoner for housing in Powai. 

4 Benefits of Housing in Powai

There is a reason why Powai is one of the most densely populated regions in Mumbai: it offers all the advantages of a metropolitan life. Here are 4 advantages of why you should purchase a flat in Powai:

1. Fantastic Connectivity

Apart from the major Jogeshwari-Vikhroli Link Road, Powai is also connected to important locations such as Chembur, Mulund, Ghatkopar, and Kurla via the LBS Marg and the Eastern Express Highway. Two metro stations will further fuel connectivity via Metro Line 6. 

2. A Hub For Businesses

Home to IIT Bombay, Powai has transformed itself into a promising business hub in Mumbai. It features many MNCs and IT companies as well as start-ups from ambitious entrepreneurs. Having your office nearby makes for a great work-life balance. 

3. World-Class Infrastructure

Powai is brimming with all the civic and urban infrastructure that makes for a complete, convenient lifestyle for a family. Safe and secure roads and bustling markets can be found everywhere. Residents also have access to world-class hospitals such as the Dr L H Hiranandani Hospital and excellent educational institutions such as Bombay Scottish School and Poddar International School. 

4. Caters To A Complete Urban Lifestyle

Proximity to malls such as Galleria and R City, a fine array of restaurants and cafes, and a thriving nightlife add to the charm of Powai as well. You have no dearth of recreation opportunities to make the most of your weekends. You can also unwind in the verdant areas around the popular Powai Lake.

Trends in Powai Property Prices

The average property rates in Powai have been growing at approximately 4.36% year-on-year. As of 2022, the average price per square foot in Powai is around INR 22,958. It ranges from as low as INR 4,000 per sq. ft. to as high as INR 52,764 per sq. ft. Powai property prices are quite consistent for apartments, plots, independent floors, villas, and independent houses. 

In comparison, renting a house in Powai comes out to be a very expensive affair. It ranges from INR 13,000 to INR 1 lakh per month, with the average rent being INR 72,724, growing at 12.94% year-on-year. 

Thus, if you are planning to move into Powai for the foreseeable future, purchasing a flat makes more economical sense. 

The best residential societies to purchase ready-to-move flats in Powai

Powai is brimming with some of the most upmarket localities thriving with modern urban infrastructure, including high-rise apartments, gated societies, neighbourhood markets, and business districts. Before we list down the most promising residential societies in Powai, here are a few good localities you can consider settling down in: 

• Hiranandani Gardens
• ​Chandivali
• IIT Area
• MHADA Colony 20
• Ramabai Ambedkar Nagar
• Panchkutir Ganesh Nagar

The rise of these residential locales in Powai is owed to the fast-paced construction carried out by some of the most reputed builders in India. The likes of Lodha Group, Hiranandani, K Raheja, Wadhwa Group, etc., have developed some of the most iconic addresses in Powai. Flats in Powai Hiranandani Gardens area are especially always in high demand due to the 250-acre township’s 360-degree lifestyle offerings. Here are some of the best upcoming societies where you can invest in ready-to-move flats in Powai:

• Lodha Bellagio
• Hiranandani Regent Hill
• Passcode Eye of Powai
• Suncity Dream of Powai
• Hiranandani Castle Rock
• Lake Riviera
• L&T Emerald Isle

With so many options to choose from and benefits to enjoy, Powai is truly a gem of a residential hotspot in Mumbai. By purchasing a flat in Powai for sale today, you will be able to make a lifelong investment that is bound to pay off richly in terms of the quality of life for you and your loved ones.