In February, Prabhadevi witnessed a bustling real estate scene with 20 apartments changing hands across 10 buildings. Developer sales dominated the market, comprising the majority of transactions, while 40% of the sales were resale transactions, indicating a healthy mix of new and existing properties. Rustomjee Crown emerged as the frontrunner with the highest number of transactions recorded across all buildings, followed closely by Hub town 25 South, which secured 3 deals. The real estate landscape exhibited a wide range of prices, with transactions ranging from INR 67 lakhs to INR 29.22 crores, reflecting the varied preferences of buyers. The rate per square foot ranged from INR 22,000 to INR 86,000, with the majority of transactions occurring in the 1500-2000 square feet category.
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Prabhadevi, nestled in the bustling city of Mumbai, India, is a vibrant locality renowned for its mix of residential and commercial spaces. Situated near the Arabian Sea, Prabhadevi offers scenic views and a serene environment. The area is characterized by upscale high-rise apartments, luxury condominiums, and commercial complexes, making it a sought-after destination for both residents and businesses.
With its strategic location, Prabhadevi provides easy access to key areas of Mumbai, including Worli, Prabhadevi, and Lower Parel. The locality is also home to prominent landmarks such as Siddhivinayak Temple and various educational institutions, adding to its cultural significance. Prabhadevi boasts a range of amenities, including shopping centers, restaurants, and recreational facilities, offering residents a dynamic and convenient lifestyle amidst the vibrant energy of Mumbai.
In February, Prabhadevi witnessed a flurry of activity with 20 apartments exchanging hands across 10 buildings. Developer sales contributed the majority of the sales whereas 40% was contributed by resale transactions. Rustomjee Crown emerges as the winner by registering the most number of transactions across all the buildings. This was followed by Hubtown 25 South which was able to close 3 deals. Siddhivinayak Horizon and Sumer Trinity Towers both of them registered 2 deals a piece.
The most expensive apartment was sold in Hubtown 25 South for a consideration of INR 29.22 crores for an average rate per square foot of INR 73,717. On the other hand the most affordable option was in Shree Sai Complex where a flat was sold for INR 67 Lakhs. The largest carpet area was also sold in Hubtown 25 South measuring 3,965 square feet and the coziest flat was sold in Akansha Building measuring 270 square feet.
The rate per square foot for Prabhadevi ranged between INR 22,000 to INR 86,000 and the weighted average rate per square foot for the locality is about INR 51,280. About 20% of the flats have been sold in the below 500 square feet category. Close to 30% of the flats were sold in the range of 501-1500 square feet and there was a single exchange of apartments in the range of 2001-2500 and 2501-3000 square feet category. The highest number of apartments were sold in the 1500-2000 square feet category. 15% of the flats were sold above the 3500 square feet category. This represents a diverse set of needs required by the residents of Prabhadevi who are looking for smaller apartments as well as grandiose apartments.
Close to 15% of the flats in Prabhadevi are sold below INR 1 crore. A quarter of the apartments exchanged hands in the INR 1 crore and INR 5 crore range. 5 crores to 10 crores category and 10 crores to 15 crores category contributed equally representing 20% of the total transactions. There were 4 deals which also crossed the 20 crores mark.
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