The Property market in Worli and Bandra is having a great clash. Bandra is known to be an expensive real estate market and with prices quoted @50000/- PSF to @100,000/- PSF on Pali Hill and Bandstand on Carpet Area basis it is even becoming tough for a Home Buyer to find a quality home with designer finishes or a Brand.
On the other hand, Worli and Lower Parel market quoted at say @45000/- for a good quality apartment on Carpet Area and going up to @70000 PSF gives you a great choice with a staggered payment plan.
Bandra – Khar the trend is more bullish with a smaller block to be ready in a couple of years and the payment pressure is typically on the buyer to part with nearly 50% odd in a few months of the initial booking.
Worli and Lower Parel are the emerging markets and with names like Trump Towers, World Towers, Omkar 1973, World Crest, One Avighna Park, Oberoi Oasis, India Bulls Skysuites, Sky Forests, HBS Realtors etc..the drift is seemingly more towards the New Launches.
With apartment blocks starting from 10 CR onwards, the Bandra or Worli market seems to have the Rich and Famous of the city. Connectivity to South Mumbai and Suburbs through the Bandra Worli Sea Link has thrown options open in the market.
With developers continuing to increase prices after every successful marketing campaigns, the market is looking pretty strong especially in Worli. Bandra on the other hand has a dearth of Land and redevelopment is the only option in Bandra and while it looks that the entire building is coming up, the truth remains that majority of the existing members come back to the Society and only the developer gets a few floors to sell to recover his margins.
It be interesting to see how things shape up in Worli and Lower Parel with tall towers coming up enriching the Skyline of Mumbai city…