What makes Marine Lines Such A Popular Investment Destination In Mumbai?
Marine Lines Such A Popular Investment: Marine Lines in South Mumbai is in a prime location, close to commercial hubs, high-quality infrastructure, and recreational opportunities. The micro-market is a real estate hotspot, especially for those looking for sea-facing properties. Investment in Marine Lines is still in demand, owing to the area’s opulence and first-rate facilities. Here’s a look at the real estate market in the area!
Marine Lines, which grew out of a British military base, is a well-known location that is strategically located across the Arabian Sea. The area is located in the posh South Mumbai market and is home to the famous Marine Drive and Chowpatty Beach. Apart from being a popular tourist destination, Marine Lines is also a popular residential market due to the location’s connectivity and ease of living. navimumbaihouses investigates the Marine Lines real estate investment trend.
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Marine Lines Such A Popular Investment- There are numerous residential options.
Marine Lines is primarily a mid-segment neighbourhood, with residential apartments accounting for more than 90% of the housing inventory, with approximately 70% consisting of 2 BHK and 3 BHK units. The remaining 30% is skewed toward 1 BHK configurations. 2 BHK flats are typically 1,000-1,300 sq ft, and 3 BHK units are 1,300-1,500 sq ft. In terms of pricing, home values are around Rs 45,200 per sq ft, up nearly 5% year on year. Over 80% of the property values are around Rs 1 crore and above, with nearly 75% priced above Rs 2 crore.
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Marine Lines’ rental market thrives on its proximity to commercial hubs such as the World Trade Centre (5 km), the Bombay Stock Exchange (2 km), and Nariman Point (3 km), among others. At around 40% each, demand is concentrated in 1 BHK and 3 BHK units. While a 1 BHK apartment can be rented for around Rs 25,000-30,000 per month, a 3 BHK flat can command upwards of Rs 1 lakh per month.
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Exceptional connectivity throughout the city
Marine Lines provides easy access to various parts of the city via the Eastern Express Highway and Eastern Freeway, which connect the neighbourhood to Thane, Navi Mumbai, and the city’s eastern suburbs such as Bhandup, Kanjurmarg, and Kurla, among others. The Western Express Highway, on the other hand. Connects Marine Lines to the western suburbs, including Bhayander, Borivali, and Andheri, to name a few.
Within a two-kilometer radius, the locality also provides unparalleled railway connectivity to stations such as Marine Lines, Churchgate, and Charni Road on the Mumbai Suburban Railway’s western line. The Chhatrapati Shivaji Maharaj Terminus (CSMT) provides central and harbour rail connectivity. Additionally, the opening of the Mumbai Metro’s under-construction Aqua Line (Line 3) connecting Cuffe Parade-BKC-SEEPZ-Aarey Colony is expected to improve connectivity of Marine Lines.
Despite the fact that cabs and autos are available 24 hours a day, residents frequently complain about vehicular congestion and parking issues.
Social and retail infrastructure that is robust
Marine Lines has world-class social infrastructure as a result of its proximity to prestigious educational institutions such as St Xavier’s College and Aditya Birla World Academy. As well as medical facilities such as Breach Candy Hospital and Sir HN Reliance Foundation Hospital and Research Centre.
Marine Lines Such A Popular Investment- Social conveniences near Marine Lines, Mumbai
|Commercial hubs||Educational institutions||Healthcare facilities||Recreational options|
|World Trade Centre||St Xavier’s Boys Academy||Bombay Hospital||Marine Drive Promenade|
|Peninsula Business Park||HVB Global Academy||Prince Aly Khan Hospital||Chowpatty beach|
|Indiabulls Finance Centre||Jai Hind College||Jaslok Hospital and Research Centre||Gateway Of India|
The area is also close to popular recreational facilities such as Bombay Gymkhana, Garware Club House. And Wankhede Stadium, as well as shopping malls such as Bhangwadi Shopping Centre, Ashoka Shopping Centre, and Rainbow Plaza.
Marine Lines appears to be a favourable investment destination because it has all necessary facilities for daily living within walking distance. However, investors must exercise caution to avoid future misunderstandings.
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