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Lower Parel West, situated in South Mumbai, is a thriving area known for its high-end shopping destinations and corporate headquarters. It enjoys proximity to the Eastern Expressway and shares borders with Naigaon, Chinchpokli, Worli, and Sewri. Access to Lower Parel West is convenient through key areas like Nariman Point and Mahalakshmi. Many organizations' headquarters, workplaces, and offices are nearby, ensuring smooth connectivity and accessibility.
Some top projects in Lower Parel West include Arihant Towers, Indiabulls Sky Forest, One Avighna Park, Nandivardhan Fortuna Blue, and Ashford Casagrand. The locale is renowned for the Mirabai Temple and is particularly famous for hosting the grand Ganesh Visarjan, notably the Lalbaugcha Raja procession, every year.
Lower Parel is esteemed for its affluent neighbourhood, offering easily affordable rental properties with essential amenities for residents. It provides a secure environment and seamless connectivity to the rest of the city.
The area boasts a notable presence of commercially successful lifestyle e-commerce startups such as Nykaa and Style Fiesta. It is also home to PR agencies like Edelman and media and advertising firms like Fractal Media. Boutique agencies, including Genesis BM and Perfect Relations, are prominent here. Additionally, organizations like ISDI have established their base in this area.
Below is the statistical data to analyse the price trends in Lower Parel West, Mumbai:
Year (April-June) | Price/Sq. ft. |
---|---|
2019 | Rs. 46,000 |
2020 | Rs. 39,450 |
2021 | Rs. 37,200 |
2022 | Rs. 37,600 |
2023 | Rs. 49,500 |
Disclaimer: All the above-mentioned prices are based on the data collected from different sources and do not reflect the actual price. The above-listed price may vary as per the developer, location, and amenities.
Lower Parel East is surrounded by renowned schools, colleges, hospitals, recreational places, malls, restaurants and many more. Some of these social infrastructures are:
Educational Centers | Hospitals | Shopping Centres |
---|---|---|
Don Bosco International School | Tata Memorial Hospital | Palladium Mall |
Aditya Birla World Academy | Global Hospital | High Street Phoneix Mall |
St.Pauls Convent High School | KEM Hospital | Baaya Design |
BK Birla Centre for Education | Sai Hospital | Grand Galleria Mall |
Lower Parel is evolving into a Central Business District with exceptional connectivity, positioning itself as Mumbai’s burgeoning startup hub. The area is dotted with various retail outlets, including prominent malls like High Street Phoenix. Noteworthy corporations like HDFC Bank, Yes Bank, HP, SBI Capital, Thomas Cook, and Deloitte have established their headquarters here alongside media and advertising agencies such as Fractal Media and Zee Media.
Diversity characterises the residential landscape, offering layouts ranging from 1 BHK to 5 BHK flats, with prices spanning from 2 crores to 25 crores. Luxurious villas are available in the range of 30 crores to 90 crores.
Multi-story apartments have experienced a 1.12% increase in average prices in the past quarter (Jul-22), with a notable 4.05% rise in rental rates during the same period. Among the layouts, 3BHK apartments are the most sought-after, accounting for 43% of sales. Commercial spaces are also in high demand, constituting 48% of the properties. Property rates have witnessed an 11% increase in the last year.
The PIN code of Lower Parel West is 400013, and it is located in Mumbai, Maharashtra.
Lower Parel is a thriving commercial hub, making it a hot spot in real estate. Alongside corporate buildings and upscale societies, the locality hosts esteemed educational institutions like Aditya Birla World Academy and St. Paul Convent High School, as well as renowned hospitals including Tata Memorial Hospital, Global Hospital, and KEM Hospital.
Lower Parel is a sought-after residential and commercial hub in Mumbai, known for its diverse housing options and thriving real estate sector. The area also hosts renowned schools like Aditya Birla World Academy, St. Paul Convent High School, and BK Birla Centre for Education, as well as prominent hospitals including Tata Memorial Hospital, Global Hospital, and KEM Hospital.
For 1 BHK, the rent in Lower Parel West is approximately Rs. 20,000 - 75,000, for 2 BHK, it's Rs. 65,000 - 1.5 Lac, and for 3 BHK, it's Rs. 1.3 Lac - 4.4 Lac.
Some of the top current development projects in Lower Parel West are mentioned in the table below:
Lower Parel West is currently in high real estate demand, and this trend is likely to continue. Projects like Piramal Mahalakshmi, Lodha Park, Lodha Kiara, and Lodha The Park Tower will influence property prices. The presence of lifestyle startups such as Nykaa and Style Fiesta has paved the way for more startups to set up shop here in the coming years.
3 1 BHK flats are available in Lower Parel West, including furnished and unfurnished
1 BHK in Lower Parel West costs in the range of ₹ 65L to ₹ 2.81Cr..
The average size of a 1 BHK in Lower Parel West is 600 sqft.
The rent of 1 BHK in Lower Parel West lies in the range of Rs. 20,000 - 75,000.
5 2 BHK flats are available in Lower Parel West.
2 BHK in Lower Parel West costs in the range of ₹2.2Cr to ₹3.50 Cr.
The average size of a 2 BHK in Lower Parel West is 650 sqft. - 724 sqft..
The rent of 2 BHK in Lower Parel West lies in the range of Rs. 65,000 - 1.5 Lac.
1 3 BHK flats are available in Lower Parel West.
3 BHK flats in Lower Parel West cost in the range of ₹5.80 Cr - ₹7.30 Cr.
The average size of a 3 BHK in Lower Parel West is 850 sqft - 1290 sqft.
The rent of 3 BHK in Lower Parel West lies in the range of Rs. 1.3 Lac - 4.4 Lac.
1 4 BHK flats are available in Lower Parel West.
4 BHK flats in Lower Parel West costs in the range of ₹7.99 Cr - ₹10 Cr.
The average size of a 4 BHK in Lower Parel West is 1500 sqft - 3000 sqft.
The rent of 4 BHK in Lower Parel West lies in the range of Rs. 2.8 Lac - 5.3 Lac.
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