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Lower Parel: The One Stop Destination for Premium Residential Apartments

Author
Blox Social
Posted on
Apr 23, 2023
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As the city of Mumbai continues to evolve, so do the aspirations of its people. In that regard, many home buyers in the City of Dreams are increasingly seeking to purchase premium residential apartments that enable them to experience a global lifestyle with world-class standards of living. Lower Parel is one such locality where they can fulfil their aspirations.

Today, Lower Parel is one of the most sought-after locations in Mumbai for premium residential real estate. It is located in the city's heart, close to major business hubs, entertainment venues, shopping malls, and cultural attractions. Lower Parel offers a variety of housing options, ranging from luxury apartments and penthouses to affordable flats and co-living spaces. Most modern apartments in Lower Parel offer their residents a perfect blend of luxury, convenience and lifestyle. 

Here are some reasons why Lower Parel is the one-stop destination for premium residential apartments.

  1. Location: Lower Parel is well-connected to other parts of the city by public transport, such as buses, trains, metro, and monorail. It is also easily accessible by road, with several flyovers and bridges linking it to the suburbs and the airport. Lower Parel is close to some of the most important commercial and financial centres in Mumbai, such as Nariman Point, Bandra Kurla Complex, Worli, and Prabhadevi. This makes it convenient for working professionals who want to avoid long commutes and traffic jams. 
  2. Lifestyle: Lower Parel is home to some of the most popular entertainment and leisure destinations in Mumbai, such as High Street Phoenix Mall, Palladium Mall, Kamala Mills compound, Worli Sea Face, Mahalaxmi Racecourse, and Nehru Planetarium. You can enjoy a variety of activities, such as shopping, dining, nightlife, sports, art, and culture. Lower Parel also has several parks and gardens, such as BDD Chawl Garden, Worli Sea Face Garden, and Mahalaxmi Garden, where you can relax and unwind. It also hosts some of the most popular cultural and social events in the city, such as art festivals, music concerts and fashion shows. 
  3. Luxury: Lower Parel boasts some of the most premium and exclusive residential projects in Mumbai, offering world-class amenities and facilities to its residents. These include spacious and well-designed apartments, state-of-the-art security systems, landscaped gardens, swimming pools, gyms, spas, clubhouses and more. Lower Parel also offers stunning views of the city skyline and the Arabian Sea from its high-rise towers.
  4. Value: Lower Parel is one of Mumbai's most promising and lucrative real estate markets, with high appreciation potential and rental returns. It attracts both end-users and investors who are looking for quality living spaces and long-term wealth creation. Lower Parel also offers a range of options to suit different budgets and needs, from studio apartments to penthouses. Overall, Lower Parel has witnessed a significant growth in real estate prices over the last decade due to the high demand and limited supply of land. The average price of residential property in Lower Parel stands at INR 38,867 per sq. ft. in 2023, which is 3.1% higher than the rates in 2022. Since the pandemic, it has been the city's most active real estate micro-market.
  5. Future: Lower Parel is undergoing rapid transformation and development, launching several new projects and initiatives in the area. These include the Mumbai Trans Harbour Link (MTHL), which will connect Lower Parel to Navi Mumbai and reduce travel time by half; the Coastal Road Project, which will provide a scenic drive along the western coast of Mumbai; and the Worli-Lower Parel Monorail Corridor, which will enhance connectivity and mobility in the area.

So, which premium residential apartments in Lower Parel should you look at?

Here is a definitive list: 

  1. The Baya Central: This is a new project by The Baya Company that offers 1 and 2 BHK apartments with a carpet area ranging from 363 sq. ft. to 577 sq. ft. The project is located in the heart of Lower Parel, close to major landmarks like Phoenix Mall, Worli Sea Link and Mahalaxmi Race Course. The Baya Central boasts a modern design, high-quality construction and smart features like biometric access, video door phone and home automation. The project also has many amenities like a rooftop garden, gym, swimming pool, kids' play area and more.
  2. Lodha Vista: This premium project by Lodha Group offers 2 and 3 BHK apartments with a carpet area ranging from 676 sq. ft. to 1474 sq. ft. The project is located in the iconic World Towers complex, one of the world's tallest residential towers. Lodha Vista offers a panoramic view of the city skyline and the Arabian Sea from every apartment. The project also has many amenities like a sky lounge, spa, library, cinema, concierge service and more.
  3. Indiabulls Sky Forest: This luxury project by Indiabulls Real Estate offers 2 to 7 BHK apartments with a carpet area range of 886 sq. ft. to 5467 sq. ft. The project is located in the Indiabulls Sky complex, a landmark development in Lower Parel. Indiabulls Sky Forest offers a spectacular sea view from every apartment, along with large terraces and balconies. The project also has a range of amenities like a clubhouse, gym, pool, jacuzzi, sauna and more.

Conclusion

The premium residential apartments in Lower Parel attract a diverse range of buyers and investors, from high-net-worth individuals (HNIs) and celebrities to young professionals and families. The demand for real estate in Lower Parel is expected to remain high in the future as more people aspire to live and work in this vibrant and dynamic neighbourhood. 

Real Estate