Summary For Lower Parel
Location Summary: Lower Parel
Lower Parel is a popular commercial and residential location in Mumbai, India. It is a rapidly developing area and has become one of the most sought-after locations for real estate investment in the city. Here are some key details about the location:
Rental Rate: The current rental rate in Lower Parel is ₹ 108 per square foot. This rate is indicative of the high demand for office and residential spaces in the area.
Sales Transactions: In the last year, there have been 881 sales transactions in Lower Parel. This is a significant number and indicates that the real estate market in the area is active and thriving.
Gross Sales Value: The gross sales value of real estate transactions in Lower Parel is ₹ 3,200 crores. This is a substantial amount and is a testament to the growing popularity of the location for real estate investment.
Current Rate/Sq.ft: The current rate per square foot for real estate in Lower Parel is ₹ 41,956. This rate is indicative of the high demand for real estate in the area and the potential for strong returns on investment.
Overall, Lower Parel is a highly attractive location for real estate investment in Mumbai. Its central location, growing commercial and residential sectors, and strong demand for real estate make it a promising area for investors.
Price Trend For Lower Parel
Lower Parel, a prime location in Mumbai, has seen a positive trend in the real estate market. The average rate per square foot has increased steadily in the last few quarters, as per the data provided. In Q1'22, the average rate was 45684 per square foot, which increased to 46619 in Q2'22, and further to 47621 in Q3'22. However, in Q4'22, there was a slight dip in the average rate to 47103, but it still remained higher than the first quarter. The trend continued in Q1'23, with the average rate per square foot being 46472.
Along with the increase in the average rate per square foot, the number of transactions has also seen a positive trend. In Q1'22, there were 211 transactions, which increased to 248 in Q2'22. However, there was a dip in Q3'22, with only 146 transactions. But, it picked up again in Q4'22, with 103 transactions, and in Q1'23, the number of transactions increased further to 99.
Overall, the location sales trend in Lower Parel has been positive, with an increase in the average rate per square foot and a steady number of transactions. It is a good time for investors and homebuyers to consider buying property in this prime location.
Top Selling Projects for Lower Parel
Mumbai's real estate market is known for its high-end residential projects, and Lower Parel is one of the most sought-after locations in the city. Here are the top-selling projects by value in the area.
1. Birla Niyaara: With a current rate of ₹49,387 per square foot, Birla Niyaara is the most expensive project on this list. However, it's worth the price tag as the project offers luxurious amenities and spacious apartments. The sale value of the project is ₹1,087 crore, and it has seen an increase of ₹1,046 per square foot in the past few months.
2. Lodha The Park: Lodha The Park is another high-end project in Lower Parel, with a current rate of ₹47,837 per square foot. The project offers stunning views of the surrounding areas and has a sale value of ₹895 crore. It has seen an increase of ₹2,064 per square foot in the past few months.
3. Lodha World Tower: While Lodha World Tower has seen a decrease of ₹2,277 per square foot in the past few months, it still remains one of the top-selling projects in Lower Parel. The project has a current rate of ₹41,522 per square foot and a sale value of ₹412 crore.
4. Raheja Imperia: Raheja Imperia is a relatively new project in Lower Parel but has already gained popularity among buyers. The project has a current rate of ₹47,289 per square foot and a sale value of ₹63 crore. It has seen an increase of ₹277 per square foot in the past few months.
5. Piramal Tower: Piramal Tower is a premium residential project in Lower Parel, with a current rate of ₹45,534 per square foot. The sale value of the project is ₹39 crore, and it offers luxurious amenities and spacious apartments.
6. Lodha Vista: Lodha Vista has seen a decrease of ₹1,191 per square foot in the past few months, but it still remains a popular project in Lower Parel. The current rate of the project is ₹39,043 per square foot, and the sale value is ₹14 crore.
7. Raheja Atlantis: Raheja Atlantis is a high-end project with a current rate of ₹50,450 per square foot. The sale value of the project is ₹12 crore, and it offers luxurious amenities and spacious apartments.
8. Codename Must Have: Codename Must Have is a new project in Lower Parel, with a current rate of ₹44,479 per square foot. The sale value of the project is ₹5 crore, and it offers premium amenities and spacious apartments.
9. Aum Saheel Tower: Aum Saheel Tower is a premium residential project in Lower Parel, with a current rate of ₹40,617 per square foot. The sale value of the project is ₹3 crore, and it offers luxurious amenities and spacious apartments.
10. Sadguru Mahalaxmi CHS: Sadguru Mahalaxmi CHS is a budget-friendly project in Lower Parel, with a sale value of ₹3 crore. The current rate of the project is not available, but it offers basic amenities and affordable apartments.
In conclusion, these top-selling projects in Lower Parel offer luxurious amenities, spacious apartments, and stunning views of the surrounding areas.
