Price Trend For Powai
Location Price Trend: Powai
Powai is a prime residential locality in Mumbai that has witnessed a steady rise in real estate prices in recent years. The location sales trend in Powai indicates a positive growth trajectory, making it a promising investment destination for homebuyers.
The average rate per square foot in Powai has been consistently increasing over the past few quarters. As per the data, the average rate per square foot in Q1'22 was 29628, which increased to 31263 in Q2'22, and further rose to 32093 in Q3'22. This trend continued in Q4'22 and Q1'23, with the average rate per square foot reaching 32145 and 32296, respectively. This indicates a steady rise in property prices in Powai, making it a lucrative option for investors.
The number of transactions in Powai has also seen a positive trend, with a significant increase in Q2'22 and Q4'22. As per the data, the number of transactions in Q1'22 was 381, which saw a significant jump to 496 in Q2'22. Although it dipped a bit in Q3'22 to 386, it again picked up in Q4'22, with 470 transactions. This trend continued in Q1'23, with 404 transactions. This indicates that Powai is a popular destination for homebuyers, with a high demand for properties.
In conclusion, Powai has witnessed a positive growth trajectory in terms of real estate prices and demand for properties. With a steady rise in property prices and a high demand for properties, Powai is a promising investment destination for homebuyers and investors.
Summary For Powai
Location Summary: Powai
Powai is an upscale residential and commercial neighborhood located in the central suburbs of Mumbai, Maharashtra, India. It is situated on the banks of Powai Lake and is known for its modern infrastructure, greenery, and luxury properties. The location is well-connected to major parts of Mumbai through the Eastern Express Highway, JVLR, and the Mumbai Suburban Railway network.
Rental Rate: ₹ 69
The rental rate in Powai is currently at ₹ 69 per square foot. This rate is slightly higher than the average rental rate in Mumbai, which is ₹ 60 per square foot. The high rental rate in Powai can be attributed to its premium location, modern infrastructure, and luxury properties.
Sales Transactions: 3,014
According to market data, there were 3,014 sales transactions in Powai over the past year. This indicates a high demand for properties in the area and can be attributed to its location, infrastructure, and amenities. The high number of sales transactions also indicates a stable and growing real estate market in Powai.
Gross Sales Value: ₹ 4,794 Cr.
The gross sales value of properties sold in Powai over the past year is estimated to be around ₹ 4,794 crore. This indicates a significant investment in real estate in the area and highlights the potential for long-term capital appreciation.
Current Rate/Sq.ft: ₹ 29,782
The current rate per square foot for properties in Powai is ₹ 29,782. This rate is significantly higher than the average rate in Mumbai, which is ₹ 20,000 per square foot. The high rate per square foot can be attributed to the premium location, modern infrastructure, and luxury properties in the area.
Overall, Powai is a premium and sought-after location in Mumbai, with high rental rates and property values. The area's modern infrastructure, greenery, and luxury properties make it an attractive destination for investors and homebuyers looking for a high-end residential and commercial location.
Top Selling Projects for Powai
Mumbai's Powai locality is home to some of the most luxurious and top-selling residential projects in the city. Here's a closer look at the Top Selling Projects by Value:
1. L & T Elixir Reserve - This project has a sale/rent value of ₹ 662 Cr. and a current rate of ₹ 32,938. It offers premium living with world-class amenities.
2. Highland - With a sale/rent value of ₹ 356 Cr. and a current rate of ₹ 38,763, Highland offers a luxurious lifestyle with stunning views of Powai lake.
3. L & T Emerald Isle - This project offers a current rate of ₹ 28,098 and a sale/rent value of ₹ 321 Cr. It's a premium residential complex with state-of-the-art facilities.
4. Hiranandani Regent Hill - With a sale/rent value of ₹ 248 Cr. and a current rate of ₹ 33,840, this project offers spacious apartments and amenities for a comfortable living.
5. Adonia - This project has a sale/rent value of ₹ 238 Cr. and a current rate of ₹ 44,893. It offers luxurious residences with breathtaking views of Powai lake.
6. Lodha Bellagio - With a sale/rent value of ₹ 229 Cr. and a current rate of ₹ 32,333, Lodha Bellagio offers a luxurious lifestyle with its premium amenities.
7. Godrej Urban Park - This project has a sale/rent value of ₹ 207 Cr. and a current rate of ₹ 28,332. It's a premium residential complex with world-class amenities.
8. Hiranandani Castle Rock - With a sale/rent value of ₹ 140 Cr. and a current rate of ₹ 39,811, Hiranandani Castle Rock offers luxurious apartments with top-notch facilities.
9. Shapoorji Pallonji Vicinia - This project has a sale/rent value of ₹ 130 Cr. and a current rate of ₹ 27,065, offering a comfortable living with premium amenities.
10. Raheja Ascencio - With a sale/rent value of ₹ 111 Cr. and a current rate of ₹ 27,982, Raheja Ascencio offers luxurious apartments with state-of-the-art facilities.
All these projects offer premium living with world-class amenities and are highly sought after by those looking for luxury living in Powai.
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