Prabhadevi's Real Estate Renaissance: Past, Present, and Future

Prabhadevi is a well-known and affluent neighborhood in the South Mumbai region. It is a relatively small locality that is named after Prabhadevi Temple. The neighborhood first started to develop around this ancient temple. The locality is surrounded by Dadar to the north, Worli to the south, Parel to the east, and the Arabian Sea to the west.

People seeking investment options in a decent neighborhood of Mumbai often consider Prabhadevi as the best choice. The real estate landscape is primarily dominated by residential units although some commercial establishments are also developing in the area. Its proximity to other posh areas of South Bombay ensures that people investing in property in Prabhadevi enjoy the satisfaction of living close to various celebrities.

The various factors that have contributed to the growth of Prabhadevi as a preferred destination for real estate investment are explained briefly as follows.

Easy Accessibility

Prabhadevi is a sought-after residential and commercial area. It is widely known for the renowned Siddhivinayak temple which attracts numerous tourists every year. Recently, a railway station on the western line has also been renamed as Prabhadevi.

Today, the area enjoys excellent connectivity due to the presence of Prabhadevi railway station. It is a vital junction linking the Central line to Parel within the Mumbai Suburban Railway network. The station is equipped with two platforms. 

Located between Worli and Dadar, the area boasts excellent connectivity to both suburbs and South Mumbai regions. And with a picturesque view of the Arabian Sea to the west, it shares its borders with Parel and Lower Parel, further enhancing the overall demand of the neighborhood.

Good Quality Life

Prabhadevi is a generally peaceful and safe locality. It has one of the lowest crime rates in Mumbai. The streets in the neighborhood are wide, well-lit, and properly maintained. There is ample parking space with several recreational areas. It is also one of the cleanest neighborhoods in the metro city.  Most importantly the people here are friendly and there is a generally positive environment in the locality. All these factors have contributed significantly to attracting people seeking a better-quality life to invest in property in Prabhadevi.

Prominent Temples

Prabhadevi houses two prominent temples in Mumbai city. The first of these temples is Shri Siddhivinayak Temple which attracts thousands of devotees and visitors each year including celebrities, politicians, and other important personalities. The world-famous temple is dedicated to Lord Ganesha and was originally constructed in 1801. It is believed that Lord Ganesha fulfills the wishes of people who visit here and pray humbly and genuinely. The historical Prabhadevi Temple is also located in this neighborhood. This 300-year-old temple is dedicated to Goddess Prabhadevi and the idol of the deity dates back to the 12th century. The presence of these two important temples makes the area a great choice for property investment among religious-minded people.

Well-Developed Social Infrastructure

Prabhadevi is an upscale locality known for its well-developed social infrastructure. This means that the people investing in property in the area have access to all the facilities and amenities necessary for a comfortable living within just a short distance. The area houses several renowned educational institutions such as Ryan Global School, Little More Preschool, Sri Narayana Guru Central School, Chamber Karnataka Night College, and National Management Research Institute. There are several good hospitals and healthcare centers located in the area. The locality is also quite close to several malls, shopping centers, and entertainment hubs. All this has further contributed to making Prabhadevi a much-preferred location for real estate investment.

Good Return on Investment

Being a posh locality, the property rates in Prabhadevi are among some of the highest in Mumbai. The area has also witnessed a decent year-over-year increase the real estate prices. Its proximity to the Arabian Sea has contributed to the higher prices and attracted a large number of investors to the locality. There is an ever-growing demand for 1,2, and 3 BHK residential units in the area. Hence, several renowned real estate developers are constructing new skyscrapers to meet this demand.  This has further assured the investors of getting a good return on their investment in property in Prabhadevi within just a few years.

Final Thoughts

The promise of an opulent lifestyle, world-class infrastructure, low crime rate, and excellent cleanliness of Prabhadevi are just some reasons that contributed to the high demand for property in the area.