Rental markets in Powai

Q: If you are looking for a flat on rent then Powai will be a good locality for rental housing.

sonyarai,

9th July 2015

Rentals in Powai, Mumbai

mmr

mumbai metropolitan region

rental market in powai

powai real estate

apartments in powai

flats for rent in powai

1bhk flats for rent in powai

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Replies (2)

Good evening Pranab,
Yes, apartments in Powai can also bring you healthy returns. The current rental yield is 3.5%. Factors that driving rental demand are: presence of Kensington SEZ, which is an IT SEZ, and the IIT-Mumbai, Important roads offering connectivity and accessibility to the suburb include Jogeshwari-Vikhroli Link Road (JVLR) and LBS (Lal Bahadur Shastri) Marg. The Eastern Express Highway (EEH), which connects the eastern suburbs, passes close to Powai.

Arup rajan, Mumbai

9th July 2015

Comment

The Eastern Freeway was also was opened to public in two phases in 2013 and 2014 respectively, which has significantly improved the area’s connectivity with South Mumbai. Regular BEST and A/C buses. Availability of auto-rickshaws within the locality. It has very close connectivity with the neighboring areas. It is about 5 km from the city’s International Airport and less than 5 km from Andheri SEEPZ SEZ.

Pranab Malakar,

9th July 2015

Right Pranab,
As far as locality is concerned, Powai has a completely developed infrastructure with several commercial and business hubs, parks, educational institutions and hospitals, and a lake. The suburb has good environment. Thus, if you are looking to stay in a rental apartment in a well-connected suburb with excellent infrastructure and proximity to key educational as well as business institutions, then Powai definitely deserves a visit.

Arup rajan, Mumbai

9th July 2015

Hi,
Why the demand of rental housing in Powai is so high? Which units are mostly available here for rent?

sadhana,

9th July 2015

Comment

Hello Sadhana,
Most of this demand is from families living close to the industrial areas or working in the key Central Business Districts (CBDs) of the city. The city also witnesses a high demand from the migrant population working in the city. Several suburbs in Mumbai Metropolitan Region (MMR) serve to this rental demand in the city. Most of the available units for rent in the suburb are 1, 2, 3 and 4BHK flats in Powai.

Sishir,

9th July 2015

Thanks Sishir,
What will be the average built-up area of 1/2/3/4BHK and its average price per month?

sadhana,

9th July 2015

Well Sadhana,
The average built-up area of 1BHK will be 500-750 sq-ft. and it's average rentals per month will be Rs. 20000-35000/month. Similarly, you will get a 2BHK for rent in average built-up area of 700-1250 sq-ft. and the average rentals per month will be Rs. 30000-55000. 3BHK with average built-up area between 1100-2000 sq-ft and rent will be Rs. 45000-120000/month whereas, a 4BHK with built-up area of 2000-3000 sq-ft and the rent is little bit higher Rs.100000-250000 per month.

Sishir,

9th July 2015

@Sishir,
It shows that rentals in the suburb are on the higher end due to the stylish factor of the suburb. Can Apartments in Powai also bring healthy returns. what is the current rental yield in Powai? Which are the key factors driving rental demand in Powai?

Pranab Malakar,

9th July 2015