Overview of Penkarpada, Mumbai

Location

Penkarpada is situated in Mira Road East, which falls within the Mira-Bhayandar municipality in Mumbai. This neighborhood is noted for its cost-effective real estate that is fast-developing.

Property Prices

• The initial price for properties in Penkarpada starts at Rs. 8,725 per sqft.
• The average cost is around Rs. 9,910 per sqft.
• Top-end properties can go up to Rs. 13,820 per sqft.

Property Types and Availability

• You can find various apartment options, like 1 BHK and 2 BHK. The 2 BHK apartments are the most popular.
• Today, over 55+ flats and apartments are available for sale around here.
• Projects like 127 Raj Homes offer attractive and well-furnished apartments.

Price Trends

• Year-over-year, the real estate rates in Penkarpada have increased by 2.42%.
• The current trend indicates that buying or selling properties here could be lucrative.

Budget Segmentation

• Around 35% of the up-for-sale properties in Penkarpada are priced between ₹80 Lac to ₹1 Cr.
• Approximately 30% have price tags between ₹1 Cr to ₹1.2 Cr.

Rental Market

• Rent for flats in Penkarpada is considered affordable, varying depending on the builder, area, and the number of BHK units.

Amenities and Infrastructure

• Situated in Mira Road East, Penkarpada enjoys major infrastructure improvements.
• This locale is linked to key highways and public transit, making it easy for residents.
• Close by, you’ll find schools, hospitals, shopping venues, and more.

PropertyWala's Insight

You might want to buy or rent a place in Penkarpada. This area is promising, balancing affordability with growth potential. There's a good mix of property options, from budgets to luxury, with current price trends pointing to a positive market for both investors and sellers. The growing infrastructure and excellent connectivity make it an attractive option for real estate investment in Mumbai.