Demand for luxurious housing mounts in South Mumbai.

Regardless of the sloppy economy, the demand for luxury property in Mumbai is growing, and developers are preparing to fulfill it. The buyer’s first choice of housing would be luxurious towers in South Mumbai. Living lavishly in a quaint Mumbai neighborhood with plenty of modern facilities and near to all the key destinations.

The country’s financial capital has always been a desirable place to live, so potential buyers tend to invest in the stunning area of the region. Despite a huge inventory of non-recurring assets and the overall decline in the property sector in India, prices continue to rise.

According to property consultant JLL, the costs of an apartment in Mumbai are projected to increase. In 2015 it increased by 3.3% and in 2016 by 6%.

With the laws on real estate rendering homes pricey in the city, it’s now increasingly more important to buy the right house in the right neighbourhood. So what should a competent prospective investor do?

“The introduction of new projects on the Central Suburb and South Mumbai sector and demand saturation for luxury real estate projects in recent years have not been impacted,” said a prominent real estate expert of the major Indian real estate company, speaking about the hot deals and how investors can search for their home in the city of dreams.

“These areas makeup only 3% of Mumbai’s unsold inventory, but cover 29% of the city’s real estate value. In addition, the market for the luxury residential segment has started to rise with the strongly growing industry, and developers are planning to meet the demand,” said the insider.

However, a real estate magnate K Raheja Corp, with Raheja Vivarea looking into the luxury real estate project in Mumbai, intends to give a large and all-inclusive range of 3 BHK, 4 BHK and duplex residences.

Raheja Vivarea, flagship luxury residential offering of K Raheja Corp, recently launched its fifth and final pentacle tower that fulfills the promise of the marquee to offer incomparable luxury. HNIs and foreign investors have shown demand.

“The fact that much of the new demand is coming from well-known end-users rather than speculative investors in south-central Mumbai, developers are now searching for the evolving strategy. Developers are now expected to concentrate on catering to customers for high-end facilities such as interior design and concierge services,” said Anarock chairman, Anuj Puri.

In South Mumbai, new luxury projects seem to pledge a much-needed break from the busy atmosphere of the Mumbai city, with apartments influenced by some of the world’s best urban parks that offer comfort and extravagance to the consumer.