Real estate trends in Powai

Q: Hi, what is the rent of 1bhk flats in Powai? How is the real estate trend in Powai?

Rajatrawal, Mumbai

5th April 2015

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Replies (7)

Hi Arushi,
I have read somewhere that Housing.com has taken up a lease of 1.5 lakh sq. ft. in Powai's Hiranandani Complex in Mar 12, 2015.

Powai is growing as Mumbais new start-up valley as it is seeing a good number of start-ups in recent times. Some of the recent start-ups consist of Powai Lake Ventures and Tiny Owl in Dec 2, 2014.

Bikram, Mumbai

6th May 2015

Comment

Thanks Bikram,
Can you tell me why the residential markets of Powai is in huge demand today? Any specific reason? Why is the powai residential market is more expensive than any other eastern suburbs?

Arushisha, Mumbai

6th May 2015

This is because of the existence of an excellent infrastructure, good environment, commercial establishments, IT companies and electronics industries, all which have created demand among the rich class of people. Therefore, the residential real estate here has been more expensive than other eastern suburbs till recent times.

Bikram, Mumbai

7th May 2015

Gud morning Ketal,
I have heard that the Powai-Vikhroli stretch has been seeing increased traffic jam during peak hours. The Haico junction especially witnesses regular traffic jams as the traffic meets here from all sides. LBS Marg going towards Ghatkopar is small and faces serious traffic jam in the evening or the office hours. What is your view?

Arushisha, Mumbai

6th May 2015

Comment

Yes, it is right but now-a-days traffic jam has become a problem for every city and locality of the country. Compared with the main roads in the Powai, inside roads are affected with potholes. Lack of parking space is a major problem on the Powai-Vikhroli stretch. While there are numerous BEST buses to the locality, the frequency of buses is very irregular that creates a traffic jam in the evening time.

Ketalpujara, Mumbai

6th May 2015

Thanks Ketal,
It is also heard that there are complaints of neglected sewage being released into Powai Lake. There is also a significant growth of water hyacinth here. Don't you think that it leads to an environmental issue.

Arushisha, Mumbai

6th May 2015

Well Ketal,
Do you have any latest updates on Powai?

Arushisha, Mumbai

6th May 2015

Hi evryone,
How is the civic and social infrastructure of Powai?

Vineet Tendulkar, Mumbai

4th May 2015

Comment

Hi Vineet,
The suburb has a totally developed civic and social infrastructure. It has several malls, a dance academy, mega stores and hospitals. It has several business and commercial establishments such as Deloitte, CRISIL and Bayer. IIT-Bombay and National Institute of Industrial Engineering are present in Powai. L&T too has a manufacturing plant in the suburb. Kensington SEZ is a well known IT/ITeS SEZ in the area, which houses several multi-national companies.

Ketalpujara, Mumbai

4th May 2015

Thanks Ketal,
What are the most important infrastructure projects happening in the area? How far is SEEPZ and BKC from the Powai?

Vineet Tendulkar, Mumbai

4th May 2015

Well Vineet,
Some of the important infrastructure projects in the area as follows.1) Eastern Express Highway passes close to Powai. Other important roads include JVLR and LBS Marg, 2) Nearest suburban railway stations at Kanjurmarg (3.5 km) and Vikhroli (4.8 km), 3) Mumbai International Airport in proximity, 4) Presence of Kensington SEZ, IIT-Bombay, NIIE.

SEEPZ SEZ in Andheri is just about 5 km away while Bandra Kurla Complex (BKC) is about 16.5 km away.

Ketalpujara, Mumbai

4th May 2015

Have you any informatio an about the planned infrastructure of Powai? What about the clean up and rejuvenate of Powai lake? What about Skycity and Metro Rail?

Vineet Tendulkar, Mumbai

4th May 2015

Well Vineet,
As of now, Skycity, developed around Mumbai International Airport will be in proximity to Powai. 2) BMC has floated a tender to clean up and rejuvenate the Powai Lake, and 3) Metro stations are planned in Jagruti Nagar, Marol and Saki Naka, all 4-5 km away.

Ketalpujara, Mumbai

4th May 2015

Hello Arushi,
Powai has various educational institutions. Some of the most popular are IIT Bombay and National Institute of Industrial Engineering. It has many malls, a dance academy, mega stores and hospitals such as the Hiranandani Hospital.

A 4-5 BHK property is available for a rent of Rs. 70000 to 5 lakhs with area of property may be between 1700 to 5500 sq-ft.

Bikram, Mumbai

7th April 2015

Comment

Hi everybody,
what is the commercial property rent of a 100 sq-ft. Are there any basic amenities nearby the locality? What will be the rent of 4-5bhk flat in that locality?

Arushisha, Mumbai

6th April 2015

Comment

Hi all,
How is Powai's road and bus connectivity within the locality as well as to different parts of Mumbai? What would be the rent and size of 3bhk property in Powai?

Shalini Parikh, Mumbai

5th April 2015

Comment

Hello Shalini,
Powai has superb road connectivity and bus services within the locality as well as to different parts of Mumbai. It has the Lal Bahadur Shastri Marg to the north-east. The Jogeshwari-Vikhroli Link Road which links the western and eastern suburbs of Mumbai passes through Powai and is one of the busiest road in city.

The Mumbai International Airport is just 5 km away from Powai. It does not have a suburban railway station. The nearest railway station is Kanjurmarg railway station which is on the central main line of Mumbai Suburban Railway. It is 3.5 km away from Powai.

The area of a 3-BHK property may be between 1000 to 2500 sq-ft. A 3-BHK property can get a rent of Rs. 35000 to 3 lakhs/month.

Ashish Sharma, Mumbai

5th April 2015

Hi Rajat,
The rent for a 1BHK property in Powai is between Rs. 17000 to 37000/month. The last year has seen a steady rise in property rates for residential properties with minor fluctuations. Multistorey apartments saw a rise of property rates from Rs. 14800 to 18300/sq-ft while residential houses saw a rise from Rs. 14400 to 14700/sq-ft.

Ashish Sharma, Mumbai

5th April 2015

Comment

Hi Ashish,
Even i am planning to rent a 2bhk apartment in 1200 sq-ft. How is the social and civic infrastructure in the locality?

Ramesk Polekar, Mumbai

5th April 2015

@Ramesk,
A 2-BHK property is available for rent of Rs. 25000 to 1.3 lakhs. It may have a coverage area of 700 to 1475/sq-ft. Rent always depends on the amenities provided in the flats. It may also vary from locality to locality.

Powai has developed significantly as one of Mumbai's most luxurious residential and commercials hubs. The suburb has commercial institutions such as Deloitte, CRISIL and Bayer. Some of the commercial institutions are located in the Kensington SEZ in Powai. L&T has a manufacturing plant in Powai.

Ashish Sharma, Mumbai

5th April 2015