Parel, a district in Girangaon, is a preferred Central Mumbai residential location. With continuous developments, Parel is a beneficial investment destination.
Parel, originally a separate island, was one amongst the Seven Islands of Bombay which was ceded by the Portuguese to England. Later, it was linked up with the other islands.
Parel real estate has been witnessing a tremendous flurry of residential launches in recent times. Highest demands have been recorded for 2 and 3 BHK housing units. Today realizing the extraordinary growth and flourishing scenario of the area, developers are also concentrating on building homes. Therefore, there is a recent trend of constructing buildings from the original textile mills due to which the district came into limelight during the Great Bombay Textile Strike of 1982. Property values ranging between Rs 30,000-35,000 per sq ft and worth Rs 2 crores and above are most sought after in this locality at present.
Besides being a long-term investment prospective, Parel is also an ideal destination for its strategic location. The city’s map promptly exemplifies the diversity of social, economic and educational infrastructures that the district hosts. A variety of well-known educational institutions as well as reputed hospitals with well-connected railway networks make Parel a profit-fetching investment.
Some of the well-known builders in Parel include Indiabulls Real Estate, L&T Realty, Lodha Group and Neumec Builders.
Reasons to invest in Parul Real Estate
Considering the price trends in Parel and the rising demand, the area should prove to be a good investment. Excellent social infrastructure, competitive pricing and good connectivity are eminent factors behind Parel’s growth. This will subsequently lead to residential and civic development.
However, there are a few problems like traffic congestion in peak hours and inadequacy of mid-range housing options in the area. But with good appreciation and excellent connectivity, Parel does make a good investment proposition.
Top Places in Parel
Connectivity with nearby Parul Real Estate localities
- Eastern and Western Express Highways and Sea-links
- Strategic location and railway connectivity
- Monorail connectivity
- Access to biggest commercial hub in Mumbai
- Excellent social infrastructure
Employment hubs near Parul Real Estate
- Lower Parel is one of the key commercial destinations of Mumbai.
- Being a part of the Secondary Business District (SBD), it houses dozens of office spaces and serves as a workplace for numerous people.
Schools in Parul Real Estate and other social amenities
Parel offers good social infrastructure to residence. Reputed schools in Parel include the Cama Montessori & Primary School and Helen Keller Institute. Some well-known colleges in Parel are Maharishi Dayanand College of Arts, Science and Commerce and Seth GS Medical College. Leading hospitals in Parel include Mahatma Gandhi Memorial Hospital and Global Hospitals. High Street Phoenix and Palladium Mall are some of the popular malls in Parel.
Physical infrastructure in Parul Real Estate
Upcoming big ticket projects in Parel promise to develop the area even more in the coming years.
Famous Places in Parel
- Mukta A2 CinemasGhodapdeo, Byculla East, Parel, Mumbai South , Mumbai, Mumbai Metropolitan Region
- Gold CinemasRadhika Saikripa Co-op Society, Gautam Nagar, Parel, Mumbai South , Mumbai, Thane District
- Tata Memorial HospitalParel, Central Mumbai, Mumbai, Mumbai Metropolitan Region
Featured Collections in Parel
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Lodha Group is among the foremost real estate developers in Mumbai. Established in 1980, the developer etched its name in the history by recording one of the biggest land deal in India when it purchased a plot in Wadala worth Rs 4,053 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). It has also been rated as a profitable real estate player and the largest by sales for three consecutive years apart from being endowed with awards for marketing excellence.
In addition to delivering world-class housing solutions in Mumbai, Lodha Group has expanded its presence in the luxury segment of Pune, Hyderabad and Bangalore as well as the United Kingdom. With 38 years of remarkable journey in the industry, the builder has engaged in strategic forays into all asset classes including residences, IT Parks, townships, offices, weekend retreats and retail spaces.Experience and Strengths
With a vision of 'Building a Better Life', Lodha Group promotes ‘leadership through innovation’ and has spearheaded several landmark developments such as World One - the world's tallest residential tower, and the Palava City - the first Greenfield Smart City in the country. The group was honoured with the Green Good Design Award 2012 for World One. It won 5 STAR for Best Interior Design for project Lodha Fiorenza.
Led by chairman and founder, Mangal Prabhat Lodha, the company has attained new heights in building outstanding properties that are at par with global standards. The builder strives to create a quality lifestyle and make a difference in the lives of people across all segments. Lodha Group successfully launched its value luxury sub-brand CASA to cater to the mid-income group. With a host of designer residences, the developer has ensured to fulfil the lifestyle needs of many buyers of luxury homes.
Lodha Group crossed a direct employee strength of 3,000 in 2013. A committed management team, equipped with extensive technical expertise and domain knowledge, works towards providing timely and high-quality solutions for its clients. The developer exhibits a passion for going the last mile in order to seek excellence and exceed customers’ expectations. It complied with its corporate values of integrity and ethics when dealing with all the stakeholders.Projects
Lodha Group has launched over 164 residential projects and is working on 85 ongoing projects. The builder holds the merit of delivering over 35 million sqft of real estate space accounting for about 30 projects in and around Mumbai (from Napean Sea Road to Dombivali).
The Palava city by Lodha Group is an over 4,000-acre integrated city which is set to be one of the world's top 50 most liveable cities. Residential units by the group include 2 and 3BHK apartments of sizes 500 sqft to luxury roomy 4BHK villas of size 5,000 sqft.