Q:I WOULD LIKE IF ITS WORTH INVESTING IN Ruparel Ariana and L&T Crescent Bay. WILL THE PROPERTIES in 3 to 4 years time? What would be the current rate per sq foot for each flat?
Latest Answer: @Ramji,
You need to take the following considerations before you invest in Parel. I haven't seen much appreciation in the locality and the reason high property value and unsold inventories.
1) Both look like good developers. Hence, make a choice depending on your requirements and budget.
2) Property is very expensive in Parel (in the range of Rs 18000-31000/sq.ft). Also know that Parel hasn't witnessed much of an appreciation in the last 3-4 years due to high property prices and lack of buyers in that area.
Considering the large number of unsold apartments in expensive prime suburbs in Mumbai, there doesn't seem to be more than 1-2% of appreciation in the next 3-5 years.
Latest Answer: The current property rates in the locality is Rs. 29690/sq-ft. Located in the southern tip of Mumbai, Parel is a fast-paced and rapidly developing locality, sandwiched between Eastern Freeway and Dr Baba Saheb Ambedkar Road. Its neighbouring localities include Worli, Dadar East, Ghodapdeo, and Prabhadevi.
Parel has sound social infrastructure with notable schools, colleges, and hospitals scattered around the region. JBCN International School, Sharada Mandir High School and Junior College, Bombay Veterinary College, and Gokhale Education Society Parel Kendra are few educational institutions here.
