Bandra Set to Become the Most Expensive Locale in Mumbai
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Bandra Set to Become the Most Expensive Locale in Mumbai

By siliconindia   |   Friday, January 24, 2014   |    1 Comments


Mumbai : Bandra, a popular residential colony in South West Mumbai is now also being considered as amongst the most coveted and expensive localities in the financial capital of India. The Bandra Kurla Complex (BKC), a prime business district has been established in the past decade and connectivity to the major localities of South Mumbai, Navi Mumbai, Thane, Bandra has also improved tremendously leading to real estate customers opting for properties in the area despite their high prices. Pali Hill, Santa Cruz, Bandstand, Karla and Khar; which are some of the other busy districts in Mumbai, are also well connected to Bandra. Numerous real estate projects are being launched by real estate developers in Bandra and, in the next decade it is expected to make the cut as being one of the most sought after destinations in Mumbai. Coming to the infrastructure in Bandra, there has been a rapid development of the BKC as an industrial hub for corporate companies and banks. Almost all major offices have moved here, depicted by the fact that the offices of CitiGroup, National Stock Exchange, MMRDA, ICICI Bank, NABARD, IL&FS, Standard Chartered, ONGC, Bank Of India, AXIS Bank, JP Morgan Chase, and Canara Bank, among others are located here. This has been a major turning point in the development and acceptance of Bandra as an industrial hub. Bandra has and remains extremely well connected through its railways and roadways. The airport is also a short drive away. The last decade has also seen several high profile and rich customers take up Bandra as their residential address. Bandra East also has many international and famous schools (St. Andrews, St. Stanislaus) and hospitals (Holy Family Hospital, Lilavati Hospital) located in the region along well as the airport. Hence, it has been witnessing a huge increase in demand for real estate. Property prices in bandra have almost tripled from where they were in 2009-2010. BKC is expected to become one of the most expensive destinations of Mumbai in the coming 2-3 years. The overall cost of properties in Bandra reaches the double digit range in crores. With the locality catering to rich customers, Banking and financial services professionals, IT professionals and diamond merchants among others, rental values are also higher as compared to other areas in Mumbai. Being the home of many celebrities, the locality expectedly offers several quality choices for dining, shopping and partying. While the preferred options for eating out are Bora Bora, Hawaiian Shack, Bungalow 9, and Mainland China. Some of the popular options for partying are The Big Bang Bar & Cafe, Olive Bar & Kitchen, Quench, and Lagerbay.

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