Powai is one of the emerging cities with many high-end residential properties having 12% property appreciation for a year. The locality is a sought-after location thanks to its accessibility to important key locations and the diversity of alternatives available to homebuyers. Check out the article to learn why this neighbourhood is a top choice for investors and the reasons why you should consider to invest in Powai.
Homebuyers today are looking for areas that provide a healthy environment with green surroundings, and lots of open space, and are also conveniently located near work & cultural hubs.
Powai has caught the eyes of leading real estate developers and uprising entrepreneurs. Due to this, Powai is becoming a blooming residential as well as a commercial hub in Mumbai.
Despite growing real estate in the locality the area continues to allow breath in greenery and serene views.
Additionally, in light of the impending uncertainty, homebuyers today have grown more cautious with their money and ensure that it is invested properly.
Shantanu Tipnis, Homebazaar.com’s expert from South Mumbai localities said,” Powai has witnessed a significant boost, with a surge in commercial and residential developments catering to the diverse needs of residents and businesses. Powai stands as a compelling example of a locality that not only meets the demands of modern living but also promises a lucrative and sustainable future in the realm of real estate.”
People not only looking for a home but also find comfort inside with balconies, sundecks inside the residences, and other amenities in societies.
Considering the above factors developers are building projects with all the luxury and comfort for people looking for residences in Powai.
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Expanding Real Estate Sector In Powai
Powai is considered the heart of Mumbai which is at the city’s centre. Every visitor to Powai is astounded by the stunning neo-classical architecture.
All the Powai and nearby neighbourhoods has also recently emerged as prospective locations for businesses, residences, and real estate.
The proximity to commercial centres like Andheri, Thane, and BKC has contributed considerably to its development and progress.
Powai has earned the title of Mumbai’s most affluent suburb thanks to the power and prestige that business heavyweights contribute to this area.
Rich European architecture, tranquil lakes, lush greenery, excellent connectivity, and a strong infrastructure may all be found in this multicultural area.
Also, the multi-decade low-interest rates on home loans and different government programmes make owning a home profitable, thus strengthening the buying sentiment and making this the perfect time to purchase a dream home.
Powai offers apartments from the mid to deluxe range, villas, and row houses. Residents prefer 2 Bhk in Powai more.
The average property rate in Powai is 25,000 Per sq ft.
Many top developers have built premium in the city including Hiranandani Group’s Hiranandani Atlantis, Lodha group, Oberoi Realty, Godrej Properties and More.
Developing Infrastructure To Invest In Powai
Powai brings a refreshing breeze with pleasant air to bustling Mumbai City.
The locality offers mountain views, lakeside greenery and Nirvana Park which are eco-friendly due to the city ensuring recycling water from gardens, construction, and development activities.
It is a cutting-edge suburb that is home to upscale apartment buildings, five-star hotels, recreation areas, and tourist attractions.
- Powai is known for Commercial destinations as many big companies have their headquarters here.
- Companies like JP Morgan, Wipro, Colgate, and more have made the locale attractive for professionals.
- Career opportunities and employment have been boosted since well-known startups such as Toppr, Bewakoof, and Bezongo have established their business here.
- Powai has several top educational institutions, including the Indian Institute of Technology (IIT) Mumbai, the Sathaye College, and the Podar International School.
- The area has reputed hospitals like Hiranandani Hospital, and Forties hospital, various outdoor activities, lakes and parks with a variety of shopping and dining options, including malls, supermarkets, and restaurants, offering a wide range of products and cuisines.
- All above social infrastructures lures people to invest in Powai.
Smooth Connectivity Options
Powai is well-connected to the rest of Mumbai and other nearby localities such as Andheri, Vikroli, BKC, Kanjurmarg, and Chandivali through a network of roads, including the Eastern Express Highway, LBS road, Jogeshwari-Vikroli link road and the Mumbai-Agra National Highway.
Powai has several public transportation options, including local trains, buses, and taxis.
The nearest railway station is the Kanjurmarg railway station and it has proximity to the metro station of Line 1 from Saki Naka.
If you are looking for flats in Powai then there are many options available for you from mid-segment to premium which possesses excellent connectivity.
Prospective Rental Market To Invest In Powai
Powai is a well-established neighbourhood with modern infrastructure and facilities, which makes it a highly sought-after location for renters.
As a result, rental properties in Powai tend to be in high demand, and it’s common for available properties to be rented quickly.
The most popular properties for invest in Powai tend to be 1 and 2-bedroom apartments in high-rise buildings, as well as 3-bedroom apartments in gated communities.
The average rent prices in the area tend to be higher than in other parts of Mumbai.
The average rent price for a 1 BHK apartment in Powai can range from Rs 20,000 – 40,000 per month, while the average rent price for a 3 BHK apartment can range from Rs 50,000 – 1,00,000 per month.
The locality possesses a 21% Rental Yield with 5.5 % property appreciation in a year.
Is Powai Good For Real Estate Investment?
Powai is a rapidly developing neighbourhood in Mumbai, India, and has seen several large-scale development projects in recent years.
These projects have included the construction of new residential and commercial buildings, as well as the development of infrastructure such as roads, bridges, and public transportation systems.
Powai is well-connected to the rest of Mumbai through transportation options and is home to several well-known educational institutions, hospitals, and shopping and dining options.
These location advantages make Powai an attractive location for end-users, renters and Investors.
FAQs
| Why invest in Powai?
Powai is one of the most upscale localities in Mumbai providing excellent connectivity options via the Eastern Expressway, LBs road, Rail and Metro Line. The area offers a 21% rental yield with 5.5 % property appreciation for a year making it a prime locality to invest. |
| Is Powai a Good area to live in?
Powai is a place which offers green spaces, and mountain views with premium apartments. The area is known for its commercial hub, a good palace to live in. |
| Is Powai a posh area?
Powai is considered to be a posh or upscale neighbourhood in Mumbai. It is known for its modern infrastructure, high-end residential properties, and well-maintained parks and lakes. |
| Which station is near Powai?
Kanjurmarg railway station and Saki Naka metro station is a nearer stations for Powai. |
