Worli In South Mumbai New Housing Destination For Super Rich: Report
Jun 23, 2016


New Delhi: Worli in South Mumbai has become the new luxury residential destination for super-rich and celebrities with the likes of Virat Kohli, Akshay Kumar and business tycoon Ajay Piramal buying properties in this area, a report said.

According to the report by property consultant JLL India, Worli has seen big-ticket transactions ranging between Rs 20 crore and Rs 65 crore during last 2-3 years.

"Worli is the new luxury destination for Mumbai's ultra-HNIs and celebrities. Mumbai has for long been home to India's Who's Who," JLL India National Director - Research Ashutosh Limaye said.

In recent years, Worli has signalled its emergence as a prime residential destination, with a number of big-ticket realty transactions taking place here.

Earlier this year, India's Test captain Kohli bought a luxury apartment for Rs 34 crore in the project 'Omkar 1973'. His teammate Rohit Sharma had snapped up a Rs 30 crore property at Ahuja Towers in the area last year. Before them, Yuvraj Singh had bought a Rs 64 crore property in this locality.

Joining the high-profile cricketers are industrialists like Babasaheb Kalyani (Chairman of Bharat Forge), Rizwan Koita (CEO of CitiusTech), Nandan Nilekani, Narayana Murthy, Ajay Piramal, Siddharth Yog (Chairman of Xander Group) and Anil Agarwal (Sterlite Group), the report said.

These personalities have "either invested in or moved to Worli", the report said, adding this area has created an independent identity rivalling the traditionally popular prime south-Mumbai residential clusters.

"With Mumbai's city planning having allowed only a few areas access to its sea shore, it is precincts like Worli - which enjoy good access to the sea shore - that have turned into platinum residential addresses, especially with respect to developments overlooking the seaface. Worli has premium residential developments along its bay," Limaye said.

Worli is located in South Mumbai and enjoys easy accessibility to the central and secondary business districts as also Bandra Kurla Complex (BKC), which is Mumbai's de-facto central business district (CBD) now.

Latest Realty News

Jun 23, 2016
MANGALURU: Dakshina Kannada district police has busted an inter-state gang of areca nut, cattle and vehicles thieves and recovered property worth Rs 20 lakh on Wednesday.
Jun 21, 2016
GURGAON: Four people have been booked for taking loan after submitting fake documents of a property. The accused include two women. The accused had sought a loan of Rs 1.55 crores by submitting fake property papers.
Jun 21, 2016
NEW DELHI: Realty firm Tata Housing has sold more than 200 flats for about Rs 300 crore in its residential project in Gurgaon.
Apr 19, 2016
Chennai: Confederation of Real Estate Developers' Association of India (Credai) Chennai chapter has called for increasing ease and reducing cost of doing business in the state. The developers' body has been raising concerns about corruption in the building plan approval process for some time, but this is the first time that the organization is confronting the state administration openly on the issue of corruption.
Apr 12, 2016
Mumbai, 12th April, 2016: On the auspicious day of Gudi Padwa, JP Infra, the fast maturing real estate developer from Mumbai introduced phase 3 - Estella of JP North - A project spread across 24 acres at Mira Road.
Apr 07, 2016
New Delhi: Interest on home loans is expected to come down helping a revival of housing sales following the Reserve Bank of India's lowering of policy rate by 0.25 per cent today, say realty experts.
Apr 06, 2016
New Delhi : Urban Development Minister M Venkaiah Naidu today said he was confident that each state would be able to set up its regulator for the real estate sector within a year as envisaged in the Bill passed by Parliament.
Apr 05, 2016
The Reserve Bank on Tuesday cut the key interest rate by 0.25 per cent and introduced a host of measures to smoothen liquidity supply so that banks can lend to the productive sectors.
Mar 19, 2016
Bhubaneswar : The New Managing Committee of Credai Odisha were elected for term 2016 -18 at Mayfair convention on 18th March 2016.
Mar 12, 2016
NEW DELHi: The Delhi Development Authority (DDA) plans to build new housing projects in Dwarka, Vasant Kunj and Rohini.

Latest Realty News Of State

Realty Talk's