Price Trend For Prabhadevi
Location Sales Trend: Prabhadevi
Prabhadevi is a posh locality in Mumbai known for its luxurious properties and excellent connectivity. The location sales trend for Prabhadevi shows a stable market with a slight dip in the third quarter of 2022. However, the market has recovered, and the fourth quarter of 2022 saw an increase in sales.
The average rate per square foot for properties in Prabhadevi has been consistent, with a minor fluctuation in Q3'22. The average rate for Q1'22 was 44,754, and it remained almost the same in Q2'22 and Q4'22. However, Q3'22 saw a dip in the average rate, with the rate dropping to 44,049. The market has bounced back in Q1'23, with the average rate per square foot going up to 47,347.
The number of transactions in Prabhadevi has been reasonably stable over the quarters, except for a significant jump in Q2'22. The number of transactions in Q1'22 was 42, which increased to 76 in Q2'22. The number of transactions dropped to 44 in Q3'22 but picked up again in Q4'22, where it was 40. The latest quarter, Q1'23, saw a significant increase in transactions, with the number going up to 54.
Overall, the location sales trend for Prabhadevi shows a stable market with a slight dip in Q3'22, followed by a quick recovery. The average rate per square foot has been consistent, with a minor fluctuation in Q3'22. The number of transactions has been reasonably stable, except for a significant jump in Q2'22 and an increase in Q1'23. Prabhadevi continues to be a desirable location for property buyers, with its luxurious properties and convenient connectivity.
Summary For Prabhadevi
Location Summary: Prabhadevi
Prabhadevi is a prominent residential and commercial locality situated in the heart of Mumbai. It is strategically located between two major business districts of Mumbai, namely Worli and Lower Parel. Prabhadevi is a preferred residential destination for many due to its proximity to business districts, entertainment hubs, and transportation facilities.
Rental Rate: ₹ 104
The rental rate in Prabhadevi is currently at ₹ 104 per square foot. This rate is competitive compared to other prime locations in Mumbai. The demand for rental properties in this area is high due to its prime location and proximity to commercial centers.
Sales Transactions: 394
There were 394 sales transactions in Prabhadevi over the past year. This indicates a strong demand for property in this area. The high number of sales transactions is a positive sign for investors and developers looking to invest in this area.
Gross Sales Value: ₹ 1,668 Cr.
The gross sales value of properties in Prabhadevi was ₹ 1,668 crore over the past year. This is a significant amount and indicates a strong real estate market in the area. This value is expected to increase in the coming years due to the growing demand for properties in this area.
Current Rate/Sq.ft: ₹ 39,131
The current rate per square foot in Prabhadevi is ₹ 39,131. This rate is competitive compared to other prime locations in Mumbai. The demand for properties in this area is high due to its prime location and proximity to commercial centers.
Overall, Prabhadevi is a strong and promising real estate market in Mumbai. The area offers a prime location, good connectivity, and a wide range of amenities, making it an attractive destination for both investors and buyers.
Top Selling Projects for Prabhadevi
Mumbai's Prabhadevi locality is home to some of the most sought-after residential projects in the city. The top selling projects in this area by value are a testament to the luxurious and premium living experience they offer.
At the top of the list is Wadhwa 25 South, with a sale value of ₹812 Cr. This project is a masterpiece of modern architecture and design, with world-class amenities and facilities that cater to the lifestyle needs of its residents.
Rustomjee Crown follows closely behind, with a sale value of ₹434 Cr. This project is known for its grandeur and opulence, with spacious apartments and stunning views of the city.
Other notable projects in the list include Eknath Thakur Bhavan, Sumer Trinity, Lifescapes Aquino, Tata Peregrine, Suraj Ocean Star, Suvidha Emerald, S B Trevadia Vuepoint, and Ajmera Classique.
Whether you are looking for a spacious and luxurious apartment or a premium penthouse with breathtaking views, these projects have something for everyone. With their prime location, exceptional amenities, and unmatched quality, they are among the most sought-after residential projects in Mumbai.
