Parel: A preferred real estate destination in South Mumbai
One of the most sought-after areas in South Mumbai is Parel. In the recent past, there have been a few residential launches evident. Regarding prepared initiatives, the area has a strong market. Parel is a tourist destination that is quite well-liked by people in the better and higher center splendor. The area may also prove to be a fantastic holiday place for those people over 5-7 years.
One of Mumbai’s distinctive islands in Parel. It is encircled by several affluent neighborhoods, including Dadar, Prabhadevi, Worli, and Mahalakshmi. Parel, also known as Lower Parel, is connected to other areas by important thoroughfares including Dr. Ambedkar Road. The Gokhale Road connects the area to the Western Express Highway as well. Alongside the Eastern Freeway, it is located. Additionally, there are important train stations such as the ones at Lower Parel and Elphinstone Road. Both train stations are located on the Mumbai Suburban Railway’s western line. It could also be a crucial stop on the envisioned monorail for Mumbai. Lower Parel can be accessed directly via the Bandra-Worli Sea Link.
In South Mumbai, particularly in Lower Parel and its neighboring areas, including Prabhadevi, the IT/ITeS-BPO industries have experienced vigorous expansion. The concept of walking to artworks has now been introduced to the area. Additionally, it is around 20 minutes from Nariman Point, 15 minutes from Bandra-Kurla Complex (BKC), and 15 minutes from the Mumbai International Airport.
The majority of the old turbines are now replaced with high-end bars, eateries, opulent hotels, shops, and premium office spaces. The ITC Grand Central is a well-known motel. There is a High Street Phoenix shopping center with several stops. There are a few important hospitals in Parel, including Tata Memorial Center, KEM Hospital, Wadia Hospitals, and MGM (ESI Hospital). The Maharshi Dayanand College of Arts, Science, and Commerce is one of several schools there.
The secondary business district (SBD) includes Lower Parel, which has a large number of workplaces and job prospects. Parel quickly established itself as a crucial location for cotton and fabric mills. The current state of cotton turbines is being unexpectedly altered by IT/ITeS, enterprise, and commercial activities that have expanded the concept of “walk-to-paintings.” This has resulted in a significant influx of residential projects. The area has started to draw professionals with high discretionary incomes who can spend a little more to get a three-BHK flat. While two and three-BHK residential flats are in demand in Parel, there is an overwhelming demand for superior configuration (three BHK and beyond) residential homes in Lower Parel.
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