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Luxury Apartments in Mumbai Worth Your Investment in 2023

Blox Social
Posted on
Jan 13, 2023

Despite the real estate prices expected to increase by an estimated 8% this year, the demand for those wanting to indulge in luxury living only increases. The rise in disposable income and purchasing power of the middle class has led to a significant increase in the standard of living, especially for people living in metros like Mumbai, Delhi, Chennai, Bengaluru, and Kolkata. Global exposure has coaxed developers into providing the latest amenities.

India's financial capital Mumbai expects a 3% growth in the premium and real estate luxury segment this year. Some of the reasons for this bump could be the following.

  • Growing Economy 
  • International Influence
  • Increase Investment Opportunities 
  • World-Class Amenities
  • The Rapid Development in MMR

Today, top real estate developers are more focused on bringing comfort into the lives of their buyers, no matter if it is a studio apartment, 1BHK, 2BHK, 3BHK, and so on.  A flat's size or carpet area is no longer a criterion to define luxury living, given land continues to be a constraint in the Populous City. Micro living is the latest fad in the life of the Mumbaikars, with studio apartments witnessing an upward tick, especially among the younger generations.

  • Better Affordability
  • Access to Premium Locations
  • Better Connectivity and Social Infrastructure

Though the pandemic affected the demand for studio apartments, things are getting back on track as per the latest forecasts.

With the real estate market expected to touch ₹13,00,000 crores, let's look at some of the luxury apartments in Mumbai worth your investment in 2023. 

1. VKG Park Estate

Established in 2001, the Vijay Ketan Group has been making waves in commercial and residential real estate, for example, hospitality, malls, etc. Nonetheless, the decade-old company has an exciting project in the pipeline named VKG Park Estate. 
Located in Andheri East, here are some of its key features.

  • Offering 2BHK, 3BHK
  • Price Range: ₹1.85 Cr - ₹ 3.65 Cr
  • Average Price: ₹27,773/ sq.ft 
  • Estimated Completion Date: December 2025

2. Passcode Big Life

Under the Shreeji Group, with a tagline stating Larger Than Life. Here is a look at one of its upcoming projects named Passcode Big Life, located in Malad West.

  • Offering 2BHK, 3BHK
  • Price Range: ₹1.55 Cr - ₹2.34 Cr
  • Average Price: ₹21,145/ sq.ft 
  • Estimated Completion Date: March 2026

3. The Orchid 

Under the developers Rudani Realty, The Orchid is an upcoming residential property in Mulund West.

  • Offering 3BHK
  • Price Range: ₹2.62 Cr onwards
  • Average Price: ₹23,000/ sq.ft 
  • Estimated Completion Date: March 2026

4. Rustomjee Paramount

Founded in 1996 under Shri Boman Rustom Irani, Rustomjee is one of Mumbai's premium real estate developers. Here is a look at their latest offering in Khar West, Rustomjee Paramount.

  • Offering 2BHK, 3BHK
  • Price Range: ₹12.83 Cr onwards
  • Average Price: ₹45,000/ sq.ft 
  • Estimated Completion Date: December 2025

5. Godrej Urban Park 

Headquartered in Mumbai and a subsidiary of Godrej Industries Ltd, Godrej Properties was founded in 1990 under the leadership of Shri Adi Godrej. The real estate giant has a promising project coming up in Chandivali named Godrej Union Park.

  • Offering 1BHK, 2BHK, 3BHK
  • Price Range: ₹1.4 Cr - ₹ 2.94 Cr
  • Average Price: ₹32,500/ sq.ft 
  • Estimated Completion Date: March 2026

Currently under construction, 2023 is the perfect time to invest in these properties as their prices will continue to soar over time.