The evolution of Powai: a thriving market that continues to grow

Connectivity to major central locations and a variety of options for homebuyers make this suburb of Mumbai a sought after location.

As the world gradually opens up, India’s workforce is preparing to return to offices and make adjustments to life post-pandemic. The effects of the pandemic on up-and-coming homebuyers, including being cooped up inside their home for an extended period and going out only for essentials, resulted in a significant change in consumer lifestyle as well as mindset. As a result, people had to reevaluate their choices and make changes to fit their post-pandemic lifestyle goals.

This dynamic trend has resulted in a considerable shift in home buyers’ preferences towards larger houses and terraces which play an influential role in their home buying decisions, along with other factors such as location. Home buyers are now looking for residences that are not only larger in typology but have features such as terraces/balconies that allow them to relax amidst the natural surroundings from the comfort of their homes. The ongoing work-from-home routine and hybrid work culture has further emphasized the need for multi-purpose rooms that can double as offices or study rooms. Once considered a luxury, these features have now become the basic requirements of home buyers seeking a comfortable lifestyle for their families.

Today’s homebuyers are looking for locations that offer a healthy ecosystem with green surroundings, abundant open space, and are also well connected to work and cultural centers. Also, with the uncertainties ahead, homebuyers have become prudent about their investments, making sure their money is invested in the right place and the right way. Additionally, multi-decade low home loan interest rates and various government initiatives make home buying lucrative, ultimately increasing sentiments of purchase and making it the best time to buy your dream home. .

In recent years, Powai has become one of Mumbai’s most distinguished cultural and lifestyle hubs. An ultra-modern suburb, it is home to exclusive residential complexes, luxury hotels, recreational centers and cultural destinations. With the corporate bigwigs giving this neighborhood power and prestige, Powai has achieved the nickname of the most elite suburb of Mumbai. This cosmopolitan neighborhood offers rich European architecture, serene lakes and green spaces, excellent connectivity, and strong infrastructure.

Powai is known for the Indian Institute of Technology Bombay (IIT Bombay), which was built in 1958; the region has now become a talent hub dotted with top-tier engineering institutes. The other major landmarks in the area are Lake Powai, the Renaissance Hotel and Convention Center, and the National Institute of Industrial Engineering (NITIE).

A well-established locality in Mumbai, Powai is mainly connected by roads with Lal Bahadur Shashtri (LBS) Marg in the northeast, Sanjay Gandhi National Park in the North, Chandivali in the southwest, and the Vikhroli Park site in the south. -East. In addition, the Jogeshwari-Vikhroli Link Road (JVLR) arterial road, a major connecting link between the East and West Expressway, passes through Powai. Connecting highways provide excellent connectivity for Powai residents to go anywhere in Mumbai. Kunjurmarg railway station is at a distance of 4 km from Powai, which is also the nearest station on the central line of the Mumbai suburban rail network. The area also enjoys connectivity through the Saki Naka metro station, which is about 3 km away. According to MMRDA, the civil works of the Mumbai Metro Line 6 (Lokhandwala-Vikhroli) have already started and are likely to be completed between 2022 and 2024, and are expected to further increase the demand for properties in the region and the returns of equity in the future. Also, Mumbai airport is only 5km away from Powai which makes it very lucrative for professionals who have to travel frequently.

Powai as an area has first class shopping complexes, hospitals and schools. An integrated township, Powai is home to the most prestigious institutions in the country. It also boasts larger-than-life infrastructure and awe-inspiring architecture envisioned by master architect Hafeez Contractor. Built around serene Powai Lake, with residences boasting panoramic lake views, abundant green space, wide pathways, and seamless connectivity, Powai’s reputation precedes itself as the most desirable neighborhood to call home.

Home to the haute monde of expats, CEOs and dynamic entrepreneurs, Powai invites Mumbai’s elite to live and work at one address, providing the perfect work-life balance. With the Renaissance Hotel and Convention Centre, fine dining restaurants, quaint cafes and chic boutiques dotting its many avenues, Powai is a pulsating suburb with a heart of its own.

Combined with the area’s rapid developments and elite living, all of these unique facets make Powai one of the most upscale areas that have the potential to bring premium luxury living to a deserving market. Powai is the perfect balance between nature, work and a pleasant lifestyle with all the necessary infrastructure. Continues to lead as an ideal location for first-time homebuyers as well as those upgrading to larger homes to provide a quality lifestyle for their families with world-class amenities in safe and convenient Grade A residential developments .

(By Rajib Das, Chairman of Eastern Suburbs and Navi Mumbai in Lodha)

Previous post This one-time expense could cost you $662,156 in retirement | Smart Switch: Personal Finance
Next post Interview with Philelefteros
%d bloggers like this: