Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Western Mumbai has desired localities - Bandstand & Mount Mary Road

By Prop Tiger Subscribe to RSS | June 19th 2012 | Views:
loading
 
  



The first selection of residence for consumers on the western suburbs is Bandstand. This is often the stretch of condominiums alongside the waterfront at Bandra, that houses a multitude of celebrities like Shah Rukh Khan’s ‘Mannat’ to Rekha’s Bungalow and Salman Khan’s ‘Galaxy’ residences.

People choose to keep here not solely due to the worth of address except for the unrestricted full bird’s eye view of the ocean, that is each, lovely and a stress buster within the quick paced Mumbai life. This comes at a large premium, thus if a 3BHK apartment with space 1500-2000 sq ft at anywhere in Bandra prices Rs 6-7 crore, identical apartment with a ocean view at Bandstand would be on the market for nothing but Rs 10 crore.

The value of residential property in Mumbai are predicated on comparable proof and therefore the market demand. It varies with the standard of the view. As discusses a study on Bellingham, Washington. Bellingham could be a town with a range of views like ocean, lake, and mountain and permits for differentiation of the read amenity by each kind and quality.

Results from a hedonic model estimated for many recent years counsel that counting on the actual view, willingness to give this amenity is quite high.

The highest-quality ocean views are found to extend the market worth of an otherwise comparable home by nearly 60%; the lowest-quality ocean views are found to feature concerning 8%. For ocean views of all quality levels, the worth of a view is found to vary inversely with distance from the water.

Uphill from Bandstand, is that the prestigious Mount Mary road (with Mt Mary Church), another wanted address in Bandra. This can be stretch of road designed on a mountain, and since of its height, offers nice ocean view. Bandstand and Mount Mary road are Bandra’s most costly areas. Even throughout recession or slowdown like in 2008, there have been inquiries pouring in for these super premium areas. There's no plot of land accessible and also the place has reached its saturation point. Thus if there's something for resale, there are immediate patrons. The patrons are businessmen, NRIs or huge financiers and brokers or celebrities.

Demand is high despite the very fact that property in Mumbai on Mount Mary road are on leasehold- 90 percent properties are on collector’s land and there's a money element concerned. The rampant market follow is of money is to cheque in 30:70 ratio.

Some of the recent transactions were as follows: a 3 bedroom unit at Mount Mary was sold for rupees seven crore. A 4 bedroom apartment on Mount Mary road of 1600 sq ft built-up space was sold for rupees twelve crore. A 2 bedroom apartment was taken up for lease at Vinaper castle at Bandstand for Rs 1.15 lakh per month and Kanti apartment at Rs 76000 per month.

Many transactions are for company leasing and also the demand is for providing housing for senior executives of multinationals. A number of the towers that are redeveloped recently have spacious residences with minimum space of 2000 sq ft. There are plush condominiums with full ocean view of 3000-5000 sq ft with swimming pool, clubhouse, sauna and every little lifestyle amenities where the rent ranges from Rs 4-8 lakh per month, whereas the rental for a 2000 sq ft apartment ranges from Rs 2- 5 lakh/month. Lots of redevelopment keeps happening and newer residential property in Mumbai command higher rents.

Rentals vary primarily based on the ground, the standard of ocean view and placement. The higher the ground, the better the ocean view furthermore as rental values. If the apartment is east facing, its rupees seventy five thousand and however in case its west facing, it fetches rupees one lakh above.

Prop Tiger - About Author:
Prop Tiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in mumbai.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/western-mumbai-has-desired-localities-bandstand-mount-mary-road.htm

Related Real Estate Articles Subscribe to RSS

How Booking Back After Your property is Sold.
Published by Moazzam on May 5th 2012 | Real Estate
Sometimes it’s useful to sell your house before you actually want to move. This frequently happens...
 
Relying on the property solicitors is must and knowledge to be acquainted with
Published by Hemton Thomas on February 4th 2012 | Real Estate
The majority of people put their property on the market with property solicitors....
 
London property management services growing increasingly important
Published by John M. Alcorn on February 18th 2012 | Real Estate
Many landlords take property management for granted. But with rental prices at an all-time high and ...
 
Get best property deals through web portals
Published by Maaya on May 15th 2012 | Real Estate
It has become a trend to buy and purchase the property in metro cities, thickly populated and it als...
 
Mohali property offering plethora of investment options
Published by Deepti on April 12th 2012 | Real Estate
Mohali, often termed as the Eco town of Punjab, is emerging as the favorite place for property in...
 
London property management firms are becoming increasingly important
Published by John M. Alcorn on January 25th 2012 | Real Estate
With rents rising across London, the idea of becoming a landlord or adding to an existing property p...
 
What a property Valuation Report Shows Us
Published by Ariel Linford on April 18th 2012 | Real Estate
Property valuation report is the best and easiest way to get a perfect and accurate value of your pr...
 
Bookings of residential property in Gr Noida is back on track
Published by Sanjay Kumar on July 20th 2012 | Real Estate
Apartment bookings in Greater Noida close to Delhi have resumed once authorities recently approved a...
 
Best price property for sale in Mumbai
Published by Andy Wagon on February 14th 2012 | Real Estate
Owning a home is more than one can indeed serve as an investment in the future, especially if house ...
 
Estate agents can help in investing in right property
Published by Margett Helms on May 5th 2012 | Real Estate
Estate agents play a key role in dealings of property. The majority of house sales in London are mad...
 
How to choose a good property in Bangalore
Published by Andy Wagon on February 15th 2012 | Real Estate
If you currently want a property and were looking for, then there are many references that can be us...
 
 
Greater Noida property getting costlier
Published by Sanjay Kumar on August 1st 2012 | Real Estate
In the commercial category for IT/ITES properties, consumers can ought to shell out Rs 29515 per sq ...
 
Things to consider before property foreclosure
Published by Matthew Watson on July 5th 2012 | Real Estate
When you are to mortgage your property there are certain things that you can do to enhance the overa...
 
Buying a home Vs Renting a property
Published by Glyn Jones on December 30th 2011 | Real Estate
Buying or renting a property has their own merits and demerits. Where renting a property gives short...
 
Hurry up to purchase your dream property in Aruba
Published by Sothebysrealty Aruba on March 16th 2012 | Real Estate
Due to an increase in the importance of Caribbean land, the real estate business in Aruba is the pro...
 
Finding property and buying it becomes with help of Real Estate Agents
Published by Melbourne Realestate on June 28th 2012 | Real Estate
If anything is done by the profession that creates a great impact. Same is in the case of real estat...
 
Tips on running a commercial property management firm
Published by Carolmoore on March 1st 2012 | Real Estate
Owning property can make you set for life. Considering the high prices of land, owning a piece can b...
 
The Roller Coaster Ride of Rental property Dubai
Published by Mark Castellino on December 1st 2011 | Real Estate
The best way to start up any business in Dubai is to find out the best location first then go for th...
 
London property market expected to defy national downward trend
Published by John M. Alcorn on February 27th 2012 | Real Estate
It is booming and blooming in the UK property market if you know where to look. Activity in the prop...