About Parel
Parel is a prominent neighborhood in Mumbai and offers several luxury housing options to residents. Parel offers 2 and 3 BHK housing units along with several mid stage and well occupied projects. Leading developers like Lodha, Gundecha Builders, Tata Housing and L&T Realty are highly active in the area. There are two railway stations that residents can access, namely Lower Parel and Parel. Parel West is also called Elphinstone owing to the Elphinstone Road railway station that lies near the area. Demand for property in Parel has gone up by leaps and bounds in recent times.The area is one of Mumbai’s biggest commercial zones and offers strategic inroads into prominent South Mumbai localities. Parel is well connected to several areas in Mumbai through the Western Express Highway and Eastern Express Highway. The latter is just 12 minutes away from the locality through the King’s Circle Flyover and the Bandra-Worli Sea Link lies just 19-20 minutes away from it. The Sea-Link offers great connectivity to Bandra while railway connectivity is available to several other areas as well. The monorail network is a major connectivity lifeline in the area and will boost progress in the future. Areas like Wadala, Byculla, Dadar, Mahalaxmi, Cuffe Parade, Nariman Point, Prabhadevi and Sewri are well connected to the area along with Worli.Reputed educational institutions in and around the area include the Cama Montessori & Primary School, J. J Primary English School, Seth GS Medical College, Bhagini Kala Mandir High School, Jalbhai Dorabji Bharda High School, Abhyudaya Education Secondary High School, Maharishi Dayanand College of Arts, Science & Commerce, WLCI College, Hellen Keller Institute and many others. Leading hospitals like the MGM Hospital, Global Hospitals, Mahatma Gandhi Memorial Hospital, N M Joshi Hospital, I.P.C. Heart Care Centre, Dr. Mahaska Hospital, Municipality Hospital and the Rotunda Blue Fertility Clinic. Leading shopping malls like the High Street Phoenix, Palladium Mall and Hi Tech Fashion are present in and around the area in addition to retail stores like Zara and Veer Mahal. Several banks have their branches in the area.Parel offers access to the posh and well developed Lower Parel, which is one of the biggest commercial hubs in Mumbai. Lower Parel is home to the biggest multinational corporations and conglomerates and has transformed into one of the poshest retail, residential and commercial zones in Mumbai. Several big ticket projects are coming up here which promise to change the face of the area even more in the future. Property prices have gone up by approximately 0.57% in the area as per Q3 2015 and average prices stand at around INR 23, 510 per sq. ft. here for the same period. Popular projects include Ruparel Ariana, L&T Realty Crescent Bay, Lodha Aria, Tata Falcons Crest and Omkar Veda Exclusive to name a few.
