Kurla, a prominent suburb in Mumbai, has witnessed significant growth and development over the years. This has made it an attractive destination for real estate investment. In this blog, we will explore the factors that affect Kurla property rates and highlight some key landmarks in the locality.
The average price per square foot in Kurla is around Rs. 16,935 to Rs. 18,437, with a year-on-year increase of approximately 4.13%. The starting price for properties in Kurla ranges from Rs. 3,750 to Rs. 7,500 per square foot. Additionally, the most expensive property listed in Kurla is priced at Rs. 133,333 per square foot. It is advisable to refer to local real estate websites or consult with real estate agents specialising in the Kurla area for accurate and up-to-date price quotations.
Factors Affecting Kurla Property Rates
Infrastructure Development: The development of infrastructure plays a crucial role in determining property rates. Kurla has seen a considerable improvement in its transportation facilities, including the Kurla railway station, which is well-connected to other parts of Mumbai. The upcoming Metro Line 3 project will further enhance connectivity, making Kurla a sought-after location.
Proximity to Business Hubs: Kurla is strategically located near several major business hubs, such as Bandra Kurla Complex (BKC) and Andheri. This proximity has led to an increased demand for residential and commercial properties in the area, subsequently impacting property rates.
Social Amenities: The presence of schools, hospitals, shopping centers, and other essential amenities significantly contributes to the value of properties in Kurla. Landmarks such as Phoenix Marketcity, Kurla Market, and Kohinoor City have become popular destinations, attracting both residents and investors.
Infrastructural Upgrades: The ongoing and planned infrastructural upgrades in Kurla have played a vital role in boosting property rates. The proposed Santacruz-Chembur Link Road (SCLR) will provide easy access to the Western suburbs, further increasing the attractiveness of the area.
Development Projects: The development of new residential and commercial projects in Kurla has led to an increase in property rates. The establishment of modern, well-designed buildings and townships has attracted buyers looking for a contemporary lifestyle.
Key Landmarks in Kurla
Bandra Kurla Complex (BKC): Located nearby, BKC is a major commercial hub that houses several multinational corporations, financial institutions, and government offices. The presence of BKC has significantly impacted Kurla’s property rates, making it a preferred location for professionals.
Phoenix Marketcity: One of the largest shopping malls in Mumbai, Phoenix Marketcity is a popular landmark in Kurla. It offers a wide range of retail outlets, entertainment options, and dining experiences, making it a favourite destination for residents and visitors alike.
Kohinoor City: Kohinoor City is a massive residential and commercial complex that offers modern amenities and a luxurious lifestyle. It has become a landmark in Kurla, attracting buyers looking for premium properties.
Kurla Market: Kurla Market, also known as Qureshi Nagar, is a bustling local market that offers a variety of goods, including fresh produce, clothing, and household items. Its proximity to residential areas has contributed to the vibrancy and liveliness of Kurla.
Lokmanya Tilak Terminus: As a major railway terminus, Lokmanya Tilak Terminus connects Kurla with various parts of the country. This transportation hub has a direct impact on property rates in the area, attracting commuters and travellers.
Conclusion
Kurla property rates have witnessed a steady rise due to various factors, including infrastructure development, proximity to business hubs, social amenities, infrastructural upgrades, and development projects. Landmarks such as Bandra Kurla Complex, Phoenix Marketcity, Kohinoor City, Kurla Market, and Lokmanya Tilak Terminus have contributed to the growth and popularity of Kurla as a real estate investment destination. With ongoing developments and improvements, Kurla continues to offer promising opportunities for both buyers and investors.
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