Ultimate Guide to Lower Parel, Mumbai – Living and Exploring.

There is no doubt that Lower Parel is one of Mumbai’s most renowned commercial districts. Lower Parel can be described as a shopper’s paradise with an abundance of shopping establishments, upscale shopping outlets, and shopping malls to suit every taste and budget. It is conveniently located near the Eastern Expressway. This neighbourhood provides an excellent mix of commercial and residential space. Leading hospitals and educational facilities are easily accessible. It is served by the Lower Parel Train and Monorail Stations.

Lower Parel is an established commercial district in Mumbai, located around 9.5 kilometres south of central South Mumbai. It is strategically situated between Naigaon, Chinchpakoli, Worli, and Sewri. Lower Parel Houses is home to a variety of high-end residential and commercial structures built by Indiabulls, Soundline Realty, Orbit, and Zeus Housing & Construction. Indiabulls Sky Forest, Soundline Florence, Orbit Grand, and Zeus Heritage are among the famous residential complexes in Lower Parel.

Physical Infrastructure: Rail, Roads, Etc.

Tulsi Pipe Road and NM Joshi Marg, as well as the Mumbai Monorail and the Western Suburban Railway Line, connect Lower Parel to the rest of the city. The international airport in Mumbai is 17 kilometres away. The planned Lower Parel Metro Station on Line 3 (Colaba – Bandra – SEEPZ), which is set to open in 2021, is designed to improve connectivity and give easy access to the neighbourhood.

Social Infrastructure: Schools, Malls, Etc.

Phoenix Mall, located on the Phoenix Mills property, is a well-known shopping centre with a range of luxury high-street retail establishments. There are also various restaurants in the Kamla Mills compound. Among the notable schools in the region are Holy Cross High School, JBCN International School, Dr Shirodkar High School, ISME School of Management and Entrepreneurship, ICE College of Hotel Management, and Mumbai Veterinary College. It also has modern hospitals including Global Hospital, King Edward Memorial Hospital, Maru Hospital, and others.

For Sale

71% of houses for sale in Lower Parel have priced over 5 crores, while 2% are priced between 1.8 and 2 crores. This neighbourhood’s most prevalent room layout is 3 BHK, which accounts for around 43% of all houses for sale. Lower Parel has 72% Multistorey Apartments.

The average price for a multi-story apartment in Parel is predicted to be 28,976 for the Oct-22 quarter, a 1.12% rise from the Jul-22 quarter.

For Rent

61% of houses for rent in Lower Parel are priced over 1L, while 6% are priced between 15K and 20K. 3 BHK is the most prevalent room arrangement in this neighbourhood, accounting for around 28% of all available houses. Commercial Office Space accounts for 48% of the properties in Lower Parel.

Pros And Cons of Lower Parel:-

Pros

• The most widely used modes of transportation by locals are trains, taxis, and buses. The neighbourhood has excellent connectivity, with several routes available for travel.
• Several locations are undergoing road construction, mostly to repair damage and make the roads usable.
• The area is normally safe because there are no records against it, however, the roads are usually desolate at night.

Cons

• With so many parks nearby, upkeep is essential in order for the public to use these sites.
• Pollution levels are fairly high, particularly near road areas, and must be monitored and lowered as quickly as possible to prevent future contamination.
• High selling rates have directly impacted people’s affordability, with yearly rise rates fast climbing.