subject: Residential Properties In Powai [print this page] We always hear stories of how Mumbai once was and how the landscape of the city has changed so drastically. There was a time when Powai was considered an outskirt and young families and teenagers would go camping by the lake with tents and food. Well, one cant even imagine doing that now. Today it has grown to be one of the prominent commercial hubs of the city, giving way to high demand of residential properties in Powai. New home seekers are exploring the residential property market in Powai to primarily be in close proximity to their place of work. Another pressing reason is the price tag attached to any decent housing investment in the area. The vicinity is a comparatively reasonably priced and provides a number of benefits for the resident.
From the mid 1990s when the area began its journey towards becoming a residential hub, Powai has come a long way. Even though the vicinity is still not the most sought after address in the city, it is witnessing some hectic construction activity in the residential as well as commercial real estate sector. This is one of the few areas of the city that has a growing demand for residential construction to cater to different segments of the market; from first time home buyers that prefer a 1 BHK or 2 BHK flat, to people who are looking to upgrade and move into a 3 BHK or 4 BHK properties that includes hi-tech amenities and good living environment. It is no wonder that while you may come across clusters of 5 to 6 stories buildings, there are newer constructions that aim to change the skyline of the area with their high-end penthouses touching the sky.
Since the civil and social infrastructure of Powai is developing at the same pace as the real estate, things like connectivity and recreational facilities are now not in question. In the present day scenario the place has a number of restaurants serving variety of cuisines, a five star hotel, shopping options, supermarkets, etc. Connectivity by way of the Jogeshwari Vikroli Link Road is a major plus point for Powai residents to travel between western and central suburbs.
While the prices of residential properties in Powai depend hugely on factors like amenities provided by the developer, total square feet area for the real estate, exact location of the property and the like, affordability of the residential properties here for every segment cannot be denied. Furthermore, developers of the city are working towards making available housing options for all kinds of investors. The area is emerging as a well-planned and even better executed development of the city, thanks to the innovative and creative visions of leading developers that have invested here.
