Parel – The Preferred Destination for Buying a 1bhk Flat in South Mumbai

Parel was formally an industrial hub characterised by mills and acted as a major business centre. Over the years, Parel has become one of the most sought-after residential destinations in South Mumbai. From luxury flats in South Mumbai to an affordable 1BHK flat in South Mumbai, Parel has enough to cater to every home buyer’s needs. With various real-estate projects that have come up and those under construction, the Parel region has become a coveted real-estate destination to invest in. 

Nestled in the heart of South Mumbai, in the past decade, the region has witnessed remarkable growth in residential unveilings. With multiple start-ups mushrooming, optimum proximity to strategic parts of Mumbai, such as the business district, and easy accessibility and connectivity - Parel has increasingly emerged as a budding hotspot for investors. Due to its desired location on Mumbai’s map and long-term growth potential, Parel has become alluring to everyone looking to invest in property in South Mumbai.

Here are a few reasons that have enhanced Parel’s investment proposition: 

New residential construction

Parel, which was known for textile and cotton mills, is today an important centre for IT businesses and multiple corporate and commercial companies. People in Mumbai prefer to stay close to their offices, and builders have kept this sentiment in mind, and as a result developed this area residentially. From luxurious flats to affordable 1 BHK flats in South Mumbai, Parel has attracted interest from home buyers as well as the renter community. From established professionals to young entrepreneurs, every working professional favours Parel. 

Distance from Lower Parel 

Lower Parel is a well-known commercial and recreational hub. Parel’s proximity to this region has further acted as a catalyst for the development and expansion of the region, encouraging other renowned developers to enter this market. Furthermore, this area attracts the interest of individuals who work in Nariman Point and Bandra Kurla Complex because of the rail and road connectivity, helping them reach their offices within 30 mins. Many reputed builders, such as the Lodha Group, L&T Realty and Neumec Builders etc, have identified the lucrativeness that Parel has to offer. 

Excellent Infrastructure 

Parel is expected to generate great ROI in the future, given the ongoing demand and price trends. It boasts of excellent social infrastructure, amazing connectivity and affordable and luxurious housing contributing to this region’s development. The Parel neighbourhood is well equipped with healthcare facilities, entertainment hotspots, numerous prestigious schools and other things to do nearby. Tata Memorial Centre, Wadia Hospital, Maharshi Dayanand College of Arts and ITC Grand Central are a few of the significant institutions in Parel. At walking distance are two of the most iconic and high-end malls, Palladium Mall and the high-street Phoenix Mall.

Amazing Connectivity in Parel

When it comes to being connected to other parts of Mumbai as well as getting to Parel, this region provides seamless accessibility.  You can get to other places via various important routes like the Dr. Ambedkar Road. Parel is situated along the Eastern Freeway and connects you to the Western Express Highway via Gokhale Road. You can get to Parel conveniently from Nariman Point, Mahalakshmi or Worli. You can even get to the international airport and the business hub of BKC in just about 20 minutes from Parel. 

Existing renowned projects 

A few projects that elevate the prestige of this area are: 

• Ruparel Group’s Ruparel Nova    
• Ruparel Realty’s Ruparal Ariana
• L  & T Realty and Omkar Realtors’ L and T Crescent Bay        
• Dosti Group’s Dosti Belleza
• Lodha Group’s Lodha Venezia

To conclude, Parel gets healthy traction from homebuyers looking to move to South Mumbai. Everyone knows the value of a South Mumbai address. Parel offers lower property rates as compared to its other South Mumbai counterparts making it the perfect place to get your 1 BHK flat in South Mumbai. 

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