rustomjee paramount khar mumbai

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Luxury projects still in great demand in Mumbai Investors may wonder if it is worth investing in luxury properties with the skyrocketing prices in Mumbai. But the truth is that even though there is a slow rate of absorption of properties in Mumbai, the demand for plush properties in the posh residential areas are growing amongst the high-net worth individuals (HNIs) and NRIs. With these demand, there has been an increase of 30 percent in the luxury projects here. Buyers are no longer hesitant to shell out crores of Rupees to get hold of a home that will define their lifestyle and living splendour. These high-end properties are complete with all luxurious amenities and facilities that reflect their status and position on the social ladder. The key influencing factors for this spurt in demands for luxury homes is due to the rapid urbanisation that the country has seen and an increase in the number of HNIs in the metro cities. According to the Knight Frank’s The Wealth Report 2014, the number of HNIs in India is expected to double, including 137% rise in Mumbai alone. This shows how the spending power of the people living in Mumbai is increasing. The NRIs are also partly responsible for this increase in demand as they are opting to invest in these properties. Thus, it has attracted a large number of foreign big players of the real estate market. Mumbai has always been an attraction for the affluent class to make it their home and thus, it has become an attractive destination for luxury and super-luxury real estate developers. With its own share of uber-rich people and along with the effluence of wealthy people from across the country, Mumbai’s luxury property is set to grow in spite of the stagnancy in the market. Location Advantages Just a short drive Juhu Beach, Santacruz has everything to offer from the location point of view. Surrounded by affluent neighbourhoods, the place is near to a number of popular shopping malls and entertainment spots. It is also close to the major commercial and business areas of Mumbai. The place is well connected to other parts of the city through the local railways station at Santa Cruz (West). The international airport is around 15 minutes’ drive from the Santacruz and provides great connectivity to other prominent cities in India. Recently launched projects There are a number of luxury properties being launched in the Santacruz area and two such projects are mentioned below: Rustomjee Paramount With sophisticated design, Rustomjee Paramount is a residential property located in Santacruz (West), Mumbai South West. The project provides a variety of modern amenities like video security, gym, kids’ play area, swimming pool, power backup and 24-hour water supply. Expected to be ready for possession in December 2018, the property offers spacious 2BHK – 4BHk apartments which are sized between 888 sq ft and 1785 sq ft. As of Jul 7 th 2015, the prices of these apartments range from Rs. 4.5 Crore to Rs. 8.84 Crore.

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Page 1: Rustomjee Paramount Khar Mumbai

Luxury projects still in great demand in Mumbai

Investors may wonder if it is worth investing in luxury properties with the skyrocketing prices in

Mumbai. But the truth is that even though there is a slow rate of absorption of properties in Mumbai,

the demand for plush properties in the posh residential areas are growing amongst the high-net worth

individuals (HNIs) and NRIs. With these demand, there has been an increase of 30 percent in the luxury

projects here. Buyers are no longer hesitant to shell out crores of Rupees to get hold of a home that

will define their lifestyle and living splendour. These high-end properties are complete with all

luxurious amenities and facilities that reflect their status and position on the social ladder.

The key influencing factors for this spurt in demands for luxury homes is due to the rapid urbanisation

that the country has seen and an increase in the number of HNIs in the metro cities. According to the

Knight Frank’s The Wealth Report 2014, the number of HNIs in India is expected to double, including

137% rise in Mumbai alone. This shows how the spending power of the people living in Mumbai is

increasing. The NRIs are also partly responsible for this increase in demand as they are opting to invest

in these properties. Thus, it has attracted a large number of foreign big players of the real estate

market.

Mumbai has always been an attraction for the affluent class to make it their home and thus, it has

become an attractive destination for luxury and super-luxury real estate developers. With its own

share of uber-rich people and along with the effluence of wealthy people from across the country,

Mumbai’s luxury property is set to grow in spite of the stagnancy in the market.

Location Advantages

Just a short drive Juhu Beach, Santacruz has everything to offer from the location point of view.

Surrounded by affluent neighbourhoods, the place is near to a number of popular shopping malls and

entertainment spots. It is also close to the major commercial and business areas of Mumbai. The place

is well connected to other parts of the city through the local railways station at Santa Cruz (West).

The international airport is around 15 minutes’ drive from the Santacruz and provides great

connectivity to other prominent cities in India.

Recently launched projects

There are a number of luxury properties being launched in the Santacruz area and two such projects

are mentioned below:

Rustomjee Paramount

With sophisticated design, Rustomjee Paramount is a residential property located in Santacruz

(West), Mumbai South West. The project provides a variety of modern amenities like video security,

gym, kids’ play area, swimming pool, power backup and 24-hour water supply. Expected to be ready

for possession in December 2018, the property offers spacious 2BHK – 4BHk apartments which are

sized between 888 sq ft and 1785 sq ft. As of Jul 7th 2015, the prices of these apartments range from

Rs. 4.5 Crore to Rs. 8.84 Crore.

Page 2: Rustomjee Paramount Khar Mumbai

Ariisto Sapphire

A grand 12 storey structure, Ariisto Sapphire is another luxurious residential property situated in

Santacruz. Ready for possession, the project provides world-class amenities like club house, kids’ play

area, swimming pool, video security, reserved car parking, 24-hour water supply and power backup.

It offers 2BHK and 3BHK apartments with sizes ranging from 1285 sq ft to 2245 sq ft. The prices of

these apartments are between Rs. 4.7 Crore and Rs. 6.75 Crore.

If you are looking for the ultimate property to match your living style in one of the prominent

neighbourhoods of Mumbai, then you should go for one of the above mentioned properties.

Author Bio

Hasib is a foodie and an avid reader with the same voracious appetite. He is interested

in the real estate market and frequently writes about the changing scenario of the realty

market and investing prospects in different locations. Reach him @ twitter, Google+,

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