Reasons why Mahalaxmi is the upscale neighbourhood to look out for
Jun 30, 2023Pune Real Estate

Reasons why Mahalaxmi is the upscale neighbourhood to look out for

by Godrej Properties Limited

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Located on the western line of the Mumbai Suburban Railway, in the south of Mumbai, is the upscale residential neighbourhood of Mahalakshmi. Along with some prestigious commercial establishments, it consists of individual bungalows and multi-storey apartments. Due to its close proximity to the sea, employment centres, and social amenities, as well as its superb transportation links to other areas of Mumbai, it is a well developed area. It is close to Lower Parel and Worli, two upscale neighbourhoods in south Mumbai.

Established Physical Infrastructure

Through the central line, western line, Eastern Express Highway, monorail, and NM Joshi Marg, Mahalakshmi has excellent access to all of Mumbai's major neighbourhoods. The train stations which are located in close proximity are Mahalakshmi on the western line and Chinchpokli on the central line. The Bandra Worli Sea Link offers direct access to the western suburbs. Additionally, Thane and Navi Mumbai are connected by the Eastern Express Highway. The Colaba-Bandra-SEEPZ Metro, currently under construction, will improve connectivity to other areas of Mumbai. In addition, the Chhatrapati Shivaji Maharaj International Airport is only 15 km away.

Top-notch Social Infrastructure

Some of the top educational institutions in and around Mahalakshmi include St. Ignatius High School, Sasmira's Institute of Management, Lala Lajpat Rai College, and Podar International School (Worli). Major shopping centres close to Mahalakshmi include Palladium, Atria, and High Street Phoenix. Some well-known hospitals in and near Mahalakshmi include Wockhardt Hospital, Breach Candy Hospital, Jaslok Hospital, and Sir HN Reliance Foundation Hospital. Nearby to Mahalakshmi are important recreational establishments like SMAAASH, Willingdon Sports Club, and National Sports Club of India (NSCI). Considering these factors, numerous builders have launched premium projects in the neighbourhood. (need information about the Godrej project in Mahalaxmi here)

Employment Hubs

Mahalakshmi is close to important and prominent commercial hubs.

DistanceHubs
Close proximity          Lodha SupremusIndiabulls Finance Centre Peninsula Business ParkPeninsula Corporate Park Lodha Excelus
Within 5-10 kilometres New Administrative Building Nariman Point Bombay Stock ExchangeWorld Trade CentreMantralayaMaker Chambers
Business districts 15-30 kilometres away (accessible via the western line and Bandra Worli Sea Link)Infinity IT ParkKensington SEZ Bandra Kurla ComplexSEEPZ SEZNirlon Knowledge ParkMindspace MaladAndheri MIDCNESCO IT Park

Trends in the Real Estate Market

77% of the homes for sale in Mahalakshmi are priced above ₹ 5 crores, while 7% are between ₹ 3.8 crores and ₹ 4 crores. The most typical room layout in this neighbourhood is 3 BHK, which makes up about half of all of the homes for sale.

88% of the rental properties in Mahalakshmi are above ₹ 1 lakh per month, while 3% are between ₹ 35,000 and ₹ 40,000. 3 BHK is the most prevalent layout, which makes up for over half of all rental properties. The average price of property is around ₹ 37000 per sq.ft.

All these factors and more make Mahalaxmi an attractive place for investment and prospective homebuyers. A robust and established neighbourhood with multiple gated communities, it’s a great place to call home.

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