With increasing property price in Mumbai, many prime localities have emerged as a hot favourite among the property buyers which are known as luxury micro markets. Byculla is one of them. Located in the plush region, South Mumbai, the locality in its earlier days was famous for the presence of textile mills and residences of highly-affluent families. However, in recent years many infrastructural and real estate developments have changed the face of this locality. Take a look:
Byculla enjoys smooth connectivity to all areas and localities of South Mumbai, South-Central Mumbai, Central Mumbai, and North-East Mumbai via a flourishing road and rail network. The central line of the Mumbai suburban railways passes through this locality. Besides, this one can also commute with the help of local buses and ferry.
Moreover, Eastern and Western Express highways, as well as the Eastern freeway, also lie in the vicinity to Byculla.
The locality is home to well-established infrastructure because of which it has emerged as a realty hotbed among potential investors. Due to the presence of leading educational institutions and colleges like Villa Theresa, Queen Mary, St. Xavier’s, J.J. School and hospitals like J.J. and Jaslok, the area has seen a drastic influx of hi-class homebuyers. It is also home to many commercial offices, high street retail shops, famous Byculla Club, Zoo, museum, national railway hospital, and Mumbai fire-brigade headquarters.
Presence of rich heritage and highly- influential communities have made this area popular among uber-riches and luxury class segment. So, when it comes to investment, even the NRIs favour this locality. Because of this, Byculla has today become home to hi-end residential skyscrapers developed by some of the leading developers of the country. Some of them include Adani Realty, Piramal Group, Godrej and Marathon group.
Recently, a renowned developer has also announced the launch of a housing project based on Amazon forest theme with 60-70 storeyed skyscraper. Shaad Residency, Kumar Sophronia, La Vision, Adani Marathon Monte, etc. are some of the already developed residential project present in this locality.
Currently, the average property price in Byculla is Rs 28,144 per sqft. A 2, 3, 4 and 5 BHK spacious flats are easily available in this locality. The starting price of the apartments is Rs 2 crore onwards.
In the last few years, the property price in this locality has witnessed a huge jump on Y-O-Y basis. Because of this, the micro-market is providing many opportunities to developers and end-users like never before. Also, with better connectivity, well-developed infrastructure and attractive property market, the future potential of Byculla is much stronger than other adjacent areas like Worli, Lower Parel, and Mahalakshmi.