Tucked away deep inside Bandra-Kurla Complex (BKC), Mumbais newest business district, and overlooking the dirty waters of Mithi River, doesnt really sound like a posh address. But that has not stopped the Maximum CitySignature Island’s well-heeled from shelling out Rs 25 crore or more for an apartment double the size of a basketball court.
Further down the vehicle-deluged Western Express Highway, an 80-acre plot in the filmi neighbourhood of Goregaon will soon host three residential towers packed with amenities that even the richest in Mumbai couldn’t have dreamt of a few years ago. A skating rink in this sweaty, hot city is par for the course.
At first glance, these properties defy logic. Homes this expansive are more the exception than the norm in this space-starved city where owning a 600 sq. ft. house makes you feel like a king. Location is held at a premium, not the living space. A tiny shack in the city’s south could command several crores of rupees. Even after the property market expanded to the suburbs over the last five years — when builders like Hiranandani and Raheja sold hundreds of middle-class homes — the average size of a Mumbai flat hasn’t crossed 1,000 sq. ft. So, apartments seven or ten times the size, away from the traditional uptown are a new phenomenon.
More : moneycontrol.com
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