Prabhadevi

Prabhadevi is a small, upscale, well-heeled residential suburb located towards the south of Mumbai, housing the rich, the influential, and Deepika Padukone. The locality gained popularity due to its close proximity to South Bombay (town) and the western suburbs of Bandra and Worli.

The Arabian Sea flows on the western side of Prabhadevi, bathing the area in beachy shores and landscaped pavements. The roads are wide and well laid, the pavements are spacious and hawker-free, and the locality on the whole exudes a sort of Old World charm.

Premium projects in the city have been developed in this locality, boasting of impeccable infrastructure and meticulous planning. The famous Beaumonde Towers by Sheth Developers serves as a residence to many well-known names from the film fraternity.

Apart from its quality residential complexes, Prabhadevi has developed a blooming high-street market as well, boasting of luxury car showrooms and branded designer boutiques. The standard of life in Prabhadevi is par excellence, with quality and distinction taking centre stage.

Connectivity and Transit Points

The area is close to commercial links like Nariman Point, Bandra, and Worli, the latter being accessible via the Bandra-Worli Sea Link. Local BEST buses ply from Prabhadevi Bus Stand, taking commuters to Worli, Shivaji Nagar, Mantralaya, Santa Cruz, and the likes.

Although this area doesn’t have a railway station of its own, it lies equidistant from Elphinstone Road and Dadar train stations, taking commuters to the central business district of Parel, and the ever-buzzing Bandra. The Mumbai Central Station lies 5 km away, and can be reached via auto-rickshaws.

The Mumbai airport is approximately 12 km away, and one can hire an AC or Non-AC cab to get there.

Major Landmarks

•   Siddhivinayak Temple
•   Ravindra Natya Mandir
•   Prabhavati Devi Mandir
•   Kadam Art Gallery
•   Century Bazaar

Factors for Growth in the Past

During the British rule, Prabhadevi comprised an avenue of mills. This eventually gave way to the development of residential colonies, dotted with simple and rustic bungalows. Soon, moguls of the land development industry began to take interest in this area, and began constructing premium high-rise apartments offering the best amenities.

Prabhadevi has since attracted the attention of builders and investors, and has risen in ranks in terms of availability of premium residential complexes. The primary factor contributing to this locality’s growth is its central location, providing excellent connectivity to important areas.

Residential & Commercial Market

Residential Market Analysis

Prabhadevi is a growing hub for real estate. It houses looming and high quality apartments, as well as old bungalows. Commercial activity thrives, as do high-street markets. It is a confluence of both high-end residential complexes as well as small, modest housing units.

The sales trends for residential property in Prabhadevi begin at Rs 25,000 per sq. ft., and may go up to a staggering Rs 1 lakh per sq. ft., with most residences falling within the bracket of Rs 42,000 - 45,000 per sq. ft. Renting an apartment in Prabhadevi may cost anywhere from Rs 89 per sq. ft. to Rs 94 per sq. ft.

Commercial Market Analysis

Renting commercial showrooms in Prabhadevi may cost anywhere between Rs 70,000 to Rs 7.5 lakh a month, at Rs 135 per sq. ft. to Rs 170 per sq. ft., depending on the size, location, and facilities.

Major Challenges

The residents of Prabhadevi live a very comfortable lifestyle, and don’t face many civic issues. A point worth noting, however, is the amount of cattle that flock the beaches, resulting in the generation of animal waste, filth, and bacteria. The cattle occupy a sizeable amount of space, disrupting the peace and serenity that residents yearn for, when staring into the flowing waters of the sea.

Factors for Growth in the Future

Over the last few years, Prabhadevi has been witnessing a healthy hike in real estate rates without experiencing a slump. The reason that this locality sails easily over the tides of change, is because of its attention to quality rather than quantity. The continual expansion of this locality’s excellent civic and social infrastructure will certainly act as an impetus to its development in the future.