Malabar Hill is a prestigious residential area in South Mumbai, renowned for its scenic beauty, colonial-era architecture, and panoramic views of the Arabian Sea. This elite neighborhood offers a mix of luxurious bungalows, high-end apartments, and exclusive housing societies, attracting the city's wealthy residents. In April, Lodha Malabar topped sales with two high-value transactions, while a budget-friendly option in Damodar Bhavan also found buyers. Property sizes in the area range from compact 350-square-foot units to expansive 9,544-square-foot residences, with prices per square foot varying widely. The real estate market in Malabar Hill highlights its status as a prime location, with high demand and limited availability reflecting its continued appeal to luxury and value-conscious buyers alike.
Malabar Hill is an upscale and affluent residential locality situated in the heart of South Mumbai. Known for its scenic beauty, colonial-era architecture, and stunning views of the Arabian Sea, this area is considered one of the most coveted addresses in the city. Malabar Hill boasts a mix of stately bungalows, high-end apartment complexes, and exclusive housing societies, catering to the city's elite and wealthy residents. The locality is well-connected to major business districts and offers access to various recreational facilities, including the iconic Hanging Gardens and the Malabar Hill Club. With its rich heritage, serene ambiance, and proximity to key landmarks, Malabar Hill continues to be a symbol of luxury and prestige in Mumbai's real estate landscape.
In April, Lodha Malabar emerged as the top-selling building, closing 2 deals only by a margin of a single apartment sale over the other 11 buildings in Malabar Hill. Resale transactions led the way by closing half of the deals with previously owned buyers of the properties. Developer sales on the other hand contributed 2 deals out of the 13 deals. This indicates the prominence of Malabar Hill with only a handful of properties available on the market to be purchased.
On the high end, an ultra-luxurious apartment in Lodha Malabar commanded a price tag of INR 135.21 crores, attracting luxury homebuyers. Conversely, a budget-friendly option in Damodar Bhavan was available for just INR 35 Lakhs, providing an excellent opportunity for value-conscious buyers.
The apartment sizes varied greatly, with the largest unit spanning 9,544 square feet in Lodha Malabar and the smallest being 350 square feet in Damodar Bhavan. This versatility ensures that Malabar Hill caters to wide preferences of buyers, from families seeking spacious homes to individuals preferring compact living spaces.
Prices per square foot in Malabar Hill ranged from INR 10,000 to as high as INR 141,680, with an average of around INR 81,753. Most apartments sold were in the coveted 2,000 - 3,000 square feet range. However, close to 23% were between 1,000 - 2,000 square feet. Close to 15% of the properties were sold between 1 - 1,000 square feet and there was a single transaction between 4,000 - 5,000 square feet. There were 2 transactions which were remarkably close to 10,000 square feet.
Close to 46% of the apartments sold in April fell above INR 20 crore range with 2 apartments attracting headline price of more than INR 100 crores. There were 3 apartment sales which were priced between INR 5 crore and INR 10 crores which contributed slightly above 20%. Additionally,there were 2 apartments which priced between INR 10 - 15 crores. There was a single deal each within INR 5 crores and between INR 15 - INR 20 crores.
In conclusion, Malabar Hill stands as a beacon of luxury and exclusivity in Mumbai's real estate market. With its mix of ultra-luxurious and budget-friendly options, the area caters to a diverse range of buyers. The high demand and limited availability of properties underscore its status as a highly sought-after locale. Malabar Hill's blend of scenic beauty, rich heritage, and prime location continues to attract the city's elite and discerning homebuyers.
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