Hotspot: Mumbai's most sought-after locality

Living close to your workplace in South Mumbai may be a privilege, but staying in one of the main suburbs of the city can be a luxury. Some of the financial capital's more important suburbs have gained a lot of significance over the years, both from a residential and commercial real estate perspective.

Located towards the south of the bustling commercial and residential hub of Andheri, Juhu is by far one of the toniest neighbourhoods in Mumbai. Properties close to the city’s coast line have always commanded a premium, and the very name of this area conjures of visions of sprawling beachscapes overlooking the Arabian Sea.
 

Bracketed by Santa Cruz and Ville Parle in the East and Khar and Versova in the North, Juhu is one of the most upscale localities in Mumbai, and home to several celebrities, business tycoons and other high networth individuals. Juhu was originally an island located off the west coast and was primarily inhabited by salt traders. Today, the region boasts some of the most affluent homes in the city and is one of the choice destinations for premium home buyers - not only because of its beach but also due to the fact that it is centrally located and has access to most of the landmark business and shopping destinations of Mumbai.

Juhu is a flourishing residential hotspot which is known for its good social infrastructure and plush properties offering state-of-the-art lifestyle amenities boosted by the exotic beach appeal. It also has older buildings which much less spectacular property prices owing to their advanced age.

Proximity to upmarket retail outlets, excellent public services and a plethora of entertainment choices within the vicinity lend this area a unique living experience. Being strategically located, Juhu enjoys seamless connectivity to the most important locations and employment hubs of Mumbai. Bandra-Kurla Complex or BKC is located 12.3 kilometers away from Juhu, while Nariman Point is located at a distance of 29.9 kilometers. Andheri East, another important business district of Mumbai, is located only 5.9 kilometers away. Chhatrapati International Airport is 4 kilometers away, and the nearest railway station is the Ville Parle station connecting Juhu to all major parts of Mumbai via railways.

With the development of premium residential properties by renowned developers, Juhu has seen a major transformation over the years. Property rates in Juhu currently range from Rs 14,828-1,10,000/sq ft  or even higher, depending on the age of construction, exact location, new project’s completion status, available amenities and builder's brand equity.

Robust housing demand, its distinct coastal ethos, the deployment of new infrastructure and retail establishments and a shortage of new plots for development have triggered very significant capital appreciation in Juhu in the past, making it one of the most sought-after investment destinations in Mumbai.

The writer is CEO and country head- JLL India