The demand for homes in Mumbai never subsides. During the recession of the property sector – which the country is now recuperating from – the demand for homes in Mumbai actually never abated. But the sales dipped because of the inability of the builders to revise the prices.
The cost of land acquisition is one of the highest components in property development in the city. Therefore with the rising value of land the cost of property development in the city automatically rises. Land has become more and more scant in and around Mumbai. This is the reason why the investment cost does not yield substantial offerings within the city. As a result, some of the unexplored suburbs are now coming to forefront as the new hubs of property development.
One of such suburban localities is Mulund. This region lies on the outskirts of the Mumbai, connected with the city via the Central Line. Some of the biggest builders have started investing the locality. The latest offering from one such builder is Nirmal One Mumbai. This is one of those luxury residential projects which offer the kind of amenities that not many other builders in the country can.
The Rise of Luxury Accommodations in Mumbai
Before One Mumbai is discussed, we would first look into the rise of luxury housing in the country – including Mumbai. There is a saying which goes “Luxury does not know recession”. This perhaps is true because even before there were potent signs of revival in 2014, Donald Trump announced the launch of Trump Towers in Mumbai and Pune. This launch has become the pinnacle of luxury properties anywhere in the country. However it does go on to show that there are ready buyers for the right accommodations, with almost a disregard for the cost. This trend is not only prevalent in Mumbai but also in other cities across the country. Both Bangalore and Chennai are experiencing demand for luxury as well as independent accommodations. And the best part is that the buyers are willing to pay the asked price!
However the issue with offering a luxury property in Mumbai is that there is virtually no space in the city to launch a luxury project. This is the reason why the suburbs have started to hog the limelight. After Powai, Bhandup has become a new property destination in the city. Interestingly there are a large number of builders in this case as opposed to one major builder in case of Powai.
The suburban regions offer space for modern construction and infrastructure planning. Mulund is well connected to Mumbai both by train and road. The locality also has been under development for almost three decades now.
The Benefits of One Mumbai
One Mumbai has been launched by one of the most well known builders in Mulund. Nirmal Lifestyle is said to have helmed the development of Mulund. These builders have been at work for almost 30 years now and have an experience of developing almost 1 crore square feet of residential and commercial spaces.
Now they have come up with a residential project which offers 1, 2 and 3 BHK variants of houses. These houses are priced between Rs. 78 lacs and Rs. 2.1 crores. The prime benefit of this project is its location. It lies next to a mall by the same builders and soon would have more commercial spaces being developed in its vicinity.