Overview of Nariman Point, Mumbai

Nariman Point, found in the middle of South Mumbai, is a top pick for both living and working due to its top spot, fancy services, and new building projects.

Rental Market

The rental market in Nariman Point has grown a lot. As of the first half of 2024, office rates jumped 52% since 2018, hitting ₹569 per sq ft, more than other big business spots like Bandra Kurla Complex (BKC), which only saw an increase of 20%. For homes, rents vary widely, with 3 BHK flats ranging from ₹2.5 Lac to ₹7 Lac depending on furniture, spot, and services.

Property Prices

Average property costs in Nariman Point come in at around ₹38,113 per sq ft, falling between ₹33,333 and ₹45,283 per sq ft. That's why it's one of Mumbai's costliest and most profitable real estate areas.

Infrastructure and Connectivity

Nariman Point enjoys better infrastructure with projects like Mumbai Metro Line 3 and the Mumbai Coastal Road. These changes aim to improve ties and make the area more appealing, helping its long-term success as a business spot.

Amenities and Lifestyle

The area is famous for its upscale flats, top shopping, and high-end eateries. It's a fully built area with easy access to many lifestyle services, making it a hot spot for businesses and families. The panoramic views, especially those facing the sea, enhance the area's appeal.

Residential and Commercial Demand

Nariman Point draws big demand for top-grade office spaces because of improved facilities and being a leading business center. Even with tough economic conditions, residential buys have hit over 1,000 units by 2023.

PropertyWala's Conclusion

If you're searching for property to buy or rent in Nariman Point, it’s a blend of luxury, a top spot, and strong growth potential. Yet, it's costly. With top amenities, connections, and beautiful sights, and on-going improvements, the area stays attractive for both investors and those seeking fancy homes. Even at a high price, the luxury, services, and views make it appealing for those who can afford it.