Rental value in Prabhadevi

Q: I have a flat in Prabhadevi and want to rent it out. How much rent can I except for my 3 bhk apartment?

Diwakar Shetty,

24th August 2013

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rental value

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Replies (6)

3 BHK apartments rent is near bby Rs.20,000 and Deposit: Rs.2000000 in Prabhadevi

24th September 2013

Comment

Current rent of 3 Bhk apartment in your area is Rs.100000-120000 per month

shailesh, Thane

13th September 2013

Comment

Prabhadevi was earlier preferred by high end clients to stay. However, now Bandra is offering residential options that suit the tastes of the upper class, at much lower rental values. Even in Bandra, one can easily get a 2BHK apartment within Rs 35000-40000 per month.

Ravindra Singh,

24th August 2013

Comment

People are shifting to locations such as Chembur. Moreover people are shifting because of the new improved connectivity of Chembur to Lower Parel, via the Eastern Freeway, has reduced the travel to just 25 minutes.

Vasanth,

24th August 2013

Comment

What is the reason for the dip in the rental values?

Neeraj Rao,

24th August 2013

Comment

The main reason for the drop down in popularity of Prabhadevi as a rental abode is the ever increasing rental values. The minimum rent one has to pay for a 2BHK unit is around Rs 80,000 per month.

Manohar,

24th August 2013

@Diwakar, I do not think you can expect good rentals as there is a drop down in the rental value. So it is better to wait for some time and when the market is ok that time rent out your flat. Or otherwise rent out your flat for lower rates.

Manohar,

24th August 2013

Hi Manohar, When can I expect the rental market correction?

Diwakar Shetty,

24th August 2013

With this movement of demand to other locations, what needs to be seen is if the rental market in Prabhadevi would witness further correction. So I will advise you to have patience and wait and watch waht is happen in the rental market. :) :)

Manohar,

24th August 2013

Prabhadevi is located in the West of Mumbai, is currently facing a slump in the rental market. Rental demand has thus shifted to nearby locations which offer apartments for rent at lower rental values.

Ravindra Singh,

24th August 2013

Comment

According to sources, In the Jan-Jun 2013 period, the rental values in Prabhadevi have dropped by nearly 10 per cent. Earlier, the rental demand in Prabhadevi largely came from those working in commercial areas such as Lower Parel, BKC (Bandra Kurla Complex), Worli and Colaba. With rental values shooting up in Prabhadevi, people have started looking for alternative options.

Manohar,

24th August 2013