Oberoi Esquire and Exquisite gain 10% price appreciation in 12 Months

The real estate market in Oberoi Garden City, located near the Western Express Highway in Goregaon East, Mumbai, has witnessed a significant price appreciation over the past year. Specifically, the premium developments of Oberoi Esquire and Oberoi Exquisite have both recorded a 10% increase in property prices.

Current Sale Prices

Recent sale transactions for 3 BHK apartments in Oberoi Esquire, which have RERA carpet areas of 1367 and 1371 square feet, indicate a price range of approximately Rs. 4.25 to 4.55 Crores. These transactions reflect the prices across various floors and include two designated car parking spaces. However, the current market for similar 3 BHK units has shifted, with prices now ranging from Rs. 4.75 to 5.25 Crores, influenced by factors such as floor level and view.

Rental Market Trends

In addition to the sales market, the rental market in this locality has also shown positive trends. The average lease rent for properties in Oberoi Esquire and Exquisite has increased from Rs. 1.00 Lakh to a new range of Rs. 1.20 to 1.40 Lakhs. This increase indicates a strengthening demand for rental properties in this premium segment, making it an attractive option for landlords and investors alike.

Future Developments

Oberoi Realty Ltd., the developer behind these projects, is continuing its expansion in the area with the introduction of Oberoi Elysian Tower A. This new development is expected to further enhance the appeal of Oberoi Garden City, potentially driving up property values and rental rates even more.

Market Implications

The 10% price appreciation in Oberoi Esquire and Exquisite reflects a robust demand for premium residential properties in Goregaon East. For homebuyers, this trend suggests a competitive market where timely decisions are essential. Investors may find opportunities in both the sales and rental markets, given the upward trajectory of prices and rents.

Practical Takeaway: For potential buyers and investors, the developments in Oberoi Garden City signal a thriving real estate market. Engaging with a knowledgeable real estate professional can provide insights into navigating this competitive landscape, whether looking to purchase or lease properties in this area.