Overview of Bhoiwada, Mumbai

Bhoiwada, nestled in the Parel area of south Mumbai, offers a noteworthy mix of commercial and residential amenities, making it a significant residential neighbourhood.

Location and Connectivity

• Bhoiwada sits on the central line of the Mumbai Suburban Railway network, with Prabhadevi station offering easy train access.
• This area is near major commercial centers in Lower Parel and South Mumbai, making it ideal for working professionals.

Property Types and Rates

• This area often has low-rise apartments and builder floors to meet various housing needs.
• Property Rates:
  • Properties start at around ₹29,127 per sq ft, with an average price of ₹35,367 per sq ft.
  • The most expensive properties go up to ₹42,566 per sq ft.

Recent Price Trends

• Year-over-Year (YoY) Growth:
  • Property rates in Bhoiwada rose by 17.21% last year, showing a positive market trend.
• Quarterly Trends:
  • For 2024, property rates fluctuated with slight decreases and stable growth, with a -1% change some quarters, though there was overall annual growth[1”].

Amenities and Infrastructure

• Healthcare:
  • The area features several well-known hospitals, providing good medical facilities for residents.
• Education:
  • Bhoiwada is close to some of Mumbai's most esteemed schools, making it a favored choice for families.
• Community:
  • This vibrant area hosts various societies like Rupji Castle, featuring luxurious and contemporary living choices.

Rental Options

• Rental seekers will find new flats, like 3 BHK options at about ₹1.6 lac per month.

PropertyWala’s Findings

Bhoiwada is a compelling real estate choice for buyers and renters in Mumbai. Nestled strategically, it boasts excellent connectivity and various property types. The positive yearly growth rate of property prices suggests a lucrative investment chance. However, people thinking about buying should monitor quarterly price changes for more informed decisions. Overall, Bhoiwada’s blend of comfort, convenience, and investment value makes it a standout option for property ownership or renting in Mumbai.