Overview of Mahalakshmi, Mumbai

Mahalakshmi is a high-end residential area in south Mumbai, famed for its affluent and upscale living.

Location and Connectivity

• Found on the western line of the Mumbai Suburban Railway.
• Near major areas like Byculla and Worli.
• The Gadge Maharaj metro station serves it.
• Close to landmarks such as the Mahalaxmi racecourse, Arab Seashore, and the famous Haji Ali Shrine.

Property Types and Availability

• You will find different types of properties like flats, builder floors, and plots here.
• Some notable projects are:
  • Lokhandwala Minerva Mahalaxmi
  • Piramal Mahalaxmi
  • Runwal 7 Mahalaxmi
  • Lodha Mahalaxmi Bellevue
  • Lodha Primero
  • Prestige Jasdan Classic
  • Lodha Bellissimo
  • Godrej One Mahalaxmi.

Price Trends

• Properties start at around ₹ 76.00 lacs.
• The average price lies around ₹ 6.59 crore.
• Most expensive properties reach up to ₹ 19.00 crore.
• Per square foot price is around ₹ 47,705, ranging from ₹34,000 to ₹ 74,074.

Recent Market Performance

• Property rates have risen by 12.16% over the last year.
• Price changes on a quarterly basis depict a continuous upward trend in property values.

Amenities and Infrastructure

• The neighborhood has top-notch social amenities and world-class infrastructure.
• Hospitals, schools, shopping malls (like Phoenix Mall), and other essentials are nearby.

Rental Options

• Rental prices differ greatly, and 3 BHK flats can be rented from ₹ 3.4 lacs to ₹ 7.5 lacs per month, relying on the project and amenities.

Lifestyle and Community

• Mahalakshmi offers a lively community with luxury and convenience.
• Residents can enjoy stunning sea views, open spaces like the Mahalaxmi racecourse, and good air quality.

PropertyWala's Conclusion

Mahalakshmi in Mumbai is perfect for those looking for upscale living with great amenities and connectivity. With increasing property values and luxurious projects, it’s a prime spot for both investors and end-users. However, the high cost may turn some buyers away. A careful analysis of current market trends and the buyer’s or renter’s specific needs helps in making an informed decision regarding property purchase or rental in this prestigious area.