Lower Parel, the Latest Commercial Hub of Mumbai

by Sanjana Murya SEO Mumbai has emerged as a preferred investment hub for the investors as it offers a range of possibilities when it comes to acquiring commercial spaces.  Past 10 years have been fruitful for Mumbai in terms of the commercial realty transactions.
Earlier believed to be the low-profile southern suburb of the financial capital of India, Worli-Lower Parel is now the next commercial hub of Mumbai. This belt is witnessing the onset of a number of office complexes and new-age retail destinations.

Consumer’s Interest

The interest of consumers have surely changed and has been diverted to the newly freed land bank in some prime locations in South Mumbai, such as Lower Parel, Mahalaxmi and Worli. These localities are expected to witness some new luxury launches, thus attracting demands from niche buyers.

Lower Parel is among the most favored commercial destinations of Mumbai. This locality is a part of the Secondary Business District (SBD) of Mumbai and houses numerous office and retail spaces.

Location advantages

The growth of this locality is backed on its connectivity. Lower Parel sits just along the Eastern Freeway and is located in proximity with the Mumbai monorail station. Besides, this locality is well-surrounded by railway stations of Parel, Lower Parel, Chinchpokli, Sewri as well as Wadala. Lower Parel is also connected to the Western Express Highway. Take a look at a few commercial spaces in Lower Parel which have been the current favorite of the homebuyers.

Shreepati Estate

Shreepati Estate is the latest residential/commercial project by the real estate pioneer, Shreepati Group in Lower Parel, Mumbai South. The project brings in thoughtfully designed commercial cum residential spaces which are aimed to offer the best commercial spaces for the occupants. Shreepati Estate consists of stilt + 81 Floors.

Marathon NextGen Icon

Marathon Icon is designed with an idea to offer the best business destination for the corporate players of Mumbai. Having a futuristic architecture and a well-designed spaces, Marathon Icon offers commercial spaces of international standards. These spaces overlook the lush green lawns and a natural pond.

Marathon Icon offers 104 units spread across ground + 15 floors. This ready to move project is available in the varying sizes of 1538 - 15765 Sq. Ft. The price of the properties per square foot is Rs. 18,205, and the starting price is Rs. 2.8 Crore.

Experts Speak

Ramesh Nair, Managing Director – West, Jones Lang LaSalle India suggests that because of the aging buildings and high rentals in the Central Business District (CBD), the key corporate players are shifting to areas like Lower Parel and Bandra Kurla Complex.

The Bottom Line

Lower Parel is believed to be a perfect commercial realty investment destination ensuring long-term investment prospects. Apart from being a commercial hub, Parel is also an ideal destination for the end users, given its strategic location. Being a strategic commercial destination, Lower Parel has also managed to fetch the highest rental returns across the city. Experts would definitely suggest the homebuyers to invest in the properties before the property rates escalate.

Rashmi Karan is a writer and illustrator. Her areas of interest are the area and city specific real estate scenario of the Indian cities. Her articles about the real estate offer exhaustive information on the related topics.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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