An emerging realty hotspot of South Mumbai

Byculla: An emerging realty hotspot of South Mumbai

Mumbai

Known as one of the oldest locality of Mumbai, Byculla is home to many historical places and old Buildings which were built mostly build during Portuguese and British rule. The area was an extension of Mazagaon, one of the seven islands that originally formed the city of Mumbai. Today it is neighboured by Nagpada and Mumbai Central on the West, Agripada, Chinchpokli to the North, Mazagaon and Dockyard Road to the East and Sandhurst Road and Bhendi Bazaar to the South.

 

Byculla has been mainly inhabited by Parsis, Christians, Jews, Hindus, and Muslims. Due to mix population of all categories especially Jains and Gujaratis, the area in recent times has witnessed fast real estate growth, particularly in the Motisha Lane area where there are lots of tall residential buildings.

 

Connectivity

Byculla railway station was one of the original stations when the Bombay-Thane railway was inaugurated in April 1853. It falls on the central railway line and hence provides a good connectivity to major areas of Mumbai. The area also falls in close proximity to some of the longest flyovers of the city like the Eastern Freeway and the JJ Flyover. Ferry Wharf, a major ferry servicing port, is located near Byculla. Also, the Mumbai airport is just 17 km away from this area.

 

Apart from these, major business centers like Nariman Point, Bandra Kurla Complex, and Lower Parel, falls in the vicinity of Byculla, hence making it a good location for residents.

 

Infrastructure

Byculla has been adorned with good social as well as physical infrastructure. Shopping malls, entertainment hubs along with many business centers have attracted many developers and buyers to this area in recent times. Many top educational institutions as well as hospital-like Prince Aly Khan Hospital, Grant Medical College, Christ Church School, E.E.E. Sassoon High School, M. H. Saboo Siddik College of Engineering, St. Agnes High School and St. Mary High School have also been the main reason that attracts buyers to invest here.

 

The famous Byculla Club, Zoo, museum, national railway hospital and Mumbai fire-brigade headquarters have also added to the infrastructure of the area.

 

Property trend

Because of well-developed social and physical infrastructure, Byculla has seen a lot of real estate growth. According to real estate experts, “The region started witnessing development after the non-operational mills gave way to new commercial and residential structures. The growth of its adjacent area Lower Parel in the past few years has positively impacted Byculla. Today many home buyers, who want to enjoy a luxurious living in premium residential apartments with the glory of the old south Mumbai, are choosing Byculla.”

 

Because the region is a mix of affluent class people from various communities like Jain, Parsi, Gujarati, and Marathi, the average rate of the residential property here falls in the range of Rs 83.00 lacs-14.68 crore. Currently, average property price per sqft in Byculla for apartments is Rs 25,000 per sq ft whereas for houses it is Rs 23,000 per sq ft. While for plots average property rate in Byculla Rs 21,000 per sq ft.