Want to Rent Luxury Apts. in Mumbai? Check these Localities

The financial capital of India, Mumbai, has always witnessed a continuous demand for rentals from people who migrate to the city for various reasons. While affordable and economic housing segments witness the maximum demand in terms of renting, luxury and ultra-luxury too has a continuous demand from a niche segment.

When it comes to luxury and ultra-luxury housing, South Mumbai has been the traditional choice of tenants. However, there are newer suburbs in western Mumbai that have emerged as hot favourites for luxury living. Here are a few areas you may want to consider if you want to rent a luxurious apartment.

Churchgate

Churchgate can be termed an ultra-luxury locality in South Mumbai. It has several factors that make it a luxurious place to live. The area is close to several CBDs such as Nariman Point, Fort and Cuffe Parade. The area itself has several business and famous commercial establishments such as Indian Merchants Chamber and the headquarters of Hindustan Unilever Ltd. Some of the famous hotels such as The Ambasador and Chateau Windsor are situated here. Other important landmarks here are the Mumbai University, Wankhede Stadium and Marine Drive. Marine Drive is a 4.3 km coastal road and a natural bay, passing through Churchgate.

Churchgate is a very beautiful area to live, in with several amenities and very good connectivity from Chhatrapati Shivaji Terminus (CST) railway station. The Churchgate railway station lies on the western line of Mumbai suburban railway network. It is also accessible via road from all over Mumbai.

The apartment configurations usually available in the area include 3 and 4BHK apartments, with rentals between Rs 2.4-4.5 lakh per month. A 1BHK apartment too may be available for a monthly rental of about Rs 20,000-30,000. There are not many 2BHK apartments available for rent in the area though.

Byculla

Byculla is another posh locality in South Mumbai located near the CBDs of Nariman Point, Fort and Kalbadevi. The area is inhabited by several Parsi, Gujarati and other business families along with some high networth individuals (HNIs). The area is easily accessible by the CST railway station and via roads. The Byculla railway station lies on the central line of the suburban railway network. There are also several BEST buses to the area.

Some of the important landmarks within the area include Rani Baug zoo, museum, Mumbai Fire Brigade headquarters, and Parsi colonies of Jerbai Baug Rustom Baug. Mazagaon, one of the original islands that formed Mumbai is a neighbour of Byculla. The LBS College of Advanced Maritime is located close to the area. The area itself has a dock. There are several other social amenities such as schools, colleges, restaurants, famous hotels and commercial centres in the area.

Typical apartment configurations available for rent include 1 and 2BHK apartments with a small number of 3 and 4BHK apartments. The monthly rental for a 1BHK apartment may range from Rs 25,000-40,000, while for a 2BHK apartment, it may be about Rs 40,000-1.9 lakh depending on the location. The approximate monthly rental of a 3BHK apartment would be about Rs 1.7-3 lakh and that of a 4BHK apartment may be about Rs 5-8 lakh.

Bandra (West)

Bandra (West) is currently considered one of the most posh areas among the western suburbs of Mumbai. The area has a vibrant commercial area, and is close to the CBD of Bandra-Kurla Complex (BKC) and Lower Parel. It is easily accessible by both rail and road. The Bandra railway station lies on the western line of suburban railway network. One can reach South Mumbai from the area via the Bandra-Worli Sea Link.

The area is quite cosmopolitan with a mix of commercial establishments as well as posh residential areas such as Turner Road and Carter Road. The area is home to some Bollywood celebrities and well-known personalities from the business world. It is filled with restaurants, pubs, high-street stores and commercial establishments. Some of the biggest hotels such as Taj Lands End are present here. The area also has several parks, cinema halls and a Fort. Bandra West has a long seafront with several promenades.