Powai is about 38 km south of
Mumbai city. The geographical location of Powai is its major advantage.
All the commercial areas such as Andheri, Bandra-Kurla Complex,
Maharashtra Industrial Development Corporation complex, New Mumbai and
Santa Cruz Electronic and Export Promotion Zone (SEEPZ) are very close
to Powai. It also has the famous Indian Institute of Technology. Powai
is ideal for both residential as well as commercial purposes.
Many
reputed builders are developing residential and commercial complexes
with excellent amenities and facilities. Hiranandani and K.Raheja are
providing not only state-of-the-art amenities, but also at affordable
rates. Several MNCs, e.g. Colgate, Bayer, and FedEx, with a few other
well-known software companies have moved in. A few companies have also
shifted their offices from Nariman Point to Powai. Recently, it has seen
concentration of BPO centres here like Zenta, Wipro-Spectramind, Lehman
Bros, Prudential etc to name a few which have a new dimension of
commercial mix.
Powai,
like other growing suburbs, is seeing the arrival of multiplexes. .Huma
Adlabs in vicinity is already functional. Hiranandani Construction is
coming up with a multiplex, which will include commercial offices, a
family entertainment center, a shopping complex, restaurants, banks,
etc. Transportation facility is improving at Powai. Flyovers opened at
Gandhinagar and on L&T are going to ease out traffic congestion once
the JVLR project gets completed, hopefully by Feb 2007. This will
definitely, be a plus point to attract more buyers in the residential
sector. It is estimated by real estate pundits that property will
appreciate by 15 to 20% on competition of this East to West corridor.
It
has a good infra-structure of schools like Hiranandani Foundation
School, SM Shetty School, Gopal Sharma Memorial school, Bombay Scottish
School and Kendriya Vidyalaya, IIT. Recently two junior college have
been added to Shetty and Gopal Sharma. Thr one year old Hiranandani
Hospital has fulfilled the need for a sophisticated in vicinity. The
malls at Haiko, D’ Mart and Ajahara are plentiful stores making it a
self contained township.
Powai is located in Eastern Suburbs in Mumbai.
Property Rates in Powai
The property rates in Powai for buying a property either from the Primary Market / Pre - Launch / Soft Launch / Under Construction start from Rs.17000 per sq ft on Built Up Area and they can go as high as Rs.25000 PSF. The rates for the Resale Properties in Powai may be Higher or Lower totally depending upon the construction quality, year and amenities in the building in Powai