
How much does a 3 BHK cost in the Mumbai real estate market?
The city of dreams, Mumbai, is known for its vibrant atmosphere, bustling streets, and of course, its expensive real estate market. When it comes to buying a 3 BHK apartment in Mumbai, the price can vary significantly based on several factors such as location, property age, and amenities. In this blog post, we’ll delve into the current market trends and explore the cost of a 3 BHK in different areas of Mumbai.
According to a recent report by Hindustan Times, the price of a 3 BHK apartment in Mumbai’s suburban areas can range from ₹3-₹7 crore. In contrast, prime areas like Juhu, Versova, and Andheri can command a price tag of ₹5 crore to ₹13 crore, depending on the size of the apartment.
Suburban areas: Affordable options
In suburban areas like Dahisar, Borivali, and Ghatkopar, 3 BHK apartments can be found at a relatively affordable price. These areas offer a more laid-back atmosphere and are often preferred by families and young professionals who want to escape the hustle and bustle of city life. The prices in these areas are significantly lower than those in prime areas, making them an attractive option for those on a budget.
For instance, a 3 BHK apartment in Dahisar can cost anywhere between ₹3-₹5 crore, depending on the age of the property and the amenities offered. Borivali, another popular suburb, offers 3 BHK apartments at a price range of ₹3.5-₹6.5 crore. Ghatkopar, which is known for its good connectivity to the city, offers 3 BHK apartments at a price range of ₹3.5-₹6 crore.
Prime areas: Luxury living
In contrast, prime areas like Juhu, Versova, and Andheri offer a more luxurious living experience. These areas are known for their high-end amenities, stunning views, and proximity to major business hubs and entertainment spots. As a result, the prices of 3 BHK apartments in these areas are significantly higher than those in suburban areas.
For instance, a 3 BHK apartment in Juhu can cost anywhere between ₹5-₹10 crore, depending on the size of the apartment and the amenities offered. Versova, which is known for its scenic views of the sea, offers 3 BHK apartments at a price range of ₹5-₹12 crore. Andheri, which is a major business hub, offers 3 BHK apartments at a price range of ₹5-₹13 crore.
Factors affecting prices
So, what determines the price of a 3 BHK apartment in Mumbai? Several factors come into play, including:
- Location: The location of the apartment is one of the most significant factors affecting its price. Prime areas with good connectivity and amenities tend to command higher prices than suburban areas.
- Property age: The age of the property is another important factor. Older properties tend to be more affordable than newer ones, which often come with modern amenities and higher price tags.
- Amenities: The type and quality of amenities offered by the property can significantly impact its price. Properties with amenities like a gym, swimming pool, and club house tend to be more expensive than those without.
- Size: The size of the apartment is also an important factor. Larger apartments with more bedrooms and living areas tend to be more expensive than smaller ones.
Conclusion
In conclusion, the cost of a 3 BHK apartment in Mumbai varies significantly based on factors like location, property age, and amenities. While suburban areas offer more affordable options, prime areas like Juhu, Versova, and Andheri command higher prices due to their luxurious amenities and stunning views. Whether you’re a young professional or a family, there’s a 3 BHK apartment in Mumbai that fits your budget and lifestyle.
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