Why is Powai a Hotspot for Residential Real Estate?

September 29, 2023 | Indextapadmin

Powai, situated at the heart of Mumbai, is a vibrant neighbourhood, that has slowly but surely developed into a lucrative real estate destination in the Maximum city. This thriving area has witnessed remarkable growth in its real estate sector. Powai has undergone a remarkable transformation, evolving into an exceptionally modern suburb that ranks among the top choices in the city for real estate and commercial ventures. What further contributes to its popularity is the wide array of amenities that the area offers. Additionally, Powai boasts properties from renowned townships that have played a pivotal role in reshaping the landscape of this suburb.

Let’s take a look at some of the top reasons to invest in residential real estate in this locality:

Connectivity:

Powai is on the brink of experiencing enhanced connectivity with the impending Metro Line 6. This new metro line will provide convenient access to both the Western and Eastern Express Highways, greatly simplifying the commute for residents.

Thriving Real Estate Growth 

In 2022 alone, Powai saw a significant surge in flat sales, with a total of 2,182 units sold, marking a substantial increase from the previous year's figure of 1,176. Now, let's delve into the average prices of flats in Powai. A 1 BHK flat in this area has an average price of 1.2 Crores INR. For those in search of a 2 BHK apartment, the average price is 2.14 Crore INR. Moreover, for those with a taste for luxury and more space, a 3 BHK apartment averages 3.33 Crores INR.

Exciting developments are also taking place in the commercial sector, with Maple Office offering over 2 million square feet of leasable space, poised to become a prominent business hub that will attract top companies and foster economic growth.

Great Social Infrastructure 

In the realm of education, the recently inaugurated AM Naik School on the L&T campus is dedicated to providing high-quality education to the community. You don’t have to worry about the health of your loved ones as Hiranandani Hospital and Godrej Memorial Hospital are in the vicinity. Get your shopping fix from Powai Plaza and Galleria Shopping Complex, located a stone’s throw away.

Newly Launched & Upcoming Residential Projects 

Powai's real estate sector continues to flourish with new launches and developments. Upcoming towers of L&T Elixir and rumoured luxury projects in Hiranandani Gardens will offer a wide range of housing options to residents. Some highly recommended properties in Powai include Lodha Bellagio, Mahindra Alcove, Raheja Ascensio, Godrej Urban Park, and many more. These properties offer a blend of modern amenities, luxury, and a desirable lifestyle.

In a nutshell, these are some of the leading reasons as to why Powai has become a hotspot for residential real estate in Mumbai. With its thriving real estate market, upcoming developments, and diverse residential options, Powai is undoubtedly a coveted destination for both homebuyers and investors alike. Head over to IndexTap to peruse through an extensive list of apartments in Powai.