Malabar Hill is one of the most luxurious and exclusive residential areas in Mumbai. It is located on the southernmost tip of Mumbai and offers a scenic view of the Arabian Sea from three different sides. Due to this, Malabar Hill deserves all the hype that it currently receives. Also, the area is known for some of the most amazing spots like Hanging Gardens, Raj Bhavan, and residences of politicians, billionaires, and other influential personalities. No wonder this neighbourhood stands as a symbol of wealth and affluence in the bustling city of Mumbai.
But other than its location, breathtaking view, and hangout spots, there is a lot more that makes Malabar Hill one of the most exclusive neighbourhoods in Mumbai.
And today, we are going to know exactly why Malabar Hill is expensive.
Top-Notch Social and Civic Amenities
Malabar Hill commands high property prices due to the exceptional infrastructural and social amenities it offers its residents. The area is also dotted with well-maintained spaces that set it apart from other properties.
Moreover, Malabar Hill is known to house some of the best and most reputed educational institutions in the country. Also, the locality is home to some of the most prestigious hospitals and healthcare centres. The residents get access to all such amenities coupled with a myriad of shopping malls, entertainment venues, restaurants, and retail outlets.
All these amenities enhance the convenience for the residents and convince buyers and investors to pay a higher price for such benefits.
The Influential Hub
The reason why Malabar Hill is expensive is because it is home to all the powerful people in the city. Not just industrialists, celebrities, and millionaires, but even the Chief Minister of Maharashtra resides here. So, this is the place that is often called the power centre of the city. No wonder most of the investors want to purchase property here. And because of all this, property prices in Malabar Hill are constantly soaring every year!
Stunning Views of the Arabian Sea
Paying a little extra to wake up to the panoramic view of the Arabian Sea is not a bad deal. Malabar Hill, as mentioned earlier, is famous for its stunning natural beauty and the stunning views. This also makes it a highly desirable place to live, and residents don’t really mind paying some extra bucks to be close to nature and experience such beautiful vistas. Also, since it is located near the sea, the area offers a peaceful atmosphere and is an amazing place for people seeking a better quality of life away from the noise and pollution of Mumbai.
Safe and Secure Neighbourhood
Living alongside Mumbai's most influential personalities definitely creates a feeling of safety and privacy. And this aspect can significantly impact one’s property investment decisions. The presence of gated communities and upscale apartments equipped with advanced security measures contribute to the neighbourhood’s overall safety. Additionally, the overall luxurious atmosphere ensures dedicated efforts from both the police and security personnel to maintain peace in the area.
Lucrative Investment Option
Malabar Hill is one place that offers significant returns on investment with low risks. And while this is the reason why the area experiences higher demand in real estate, the prices also soar with each passing year. Additionally, owning property in Malabar Hill symbolises high social standing, showcasing not just wealth but also a refined taste and luxurious lifestyle.
More Demand, Less Supply
As discussed, the demand for property in Malabar Hill is truly unmatched. And thus, it cannot be met by the land available in the region. Like many areas in Mumbai, Malabar Hill also faces a scarcity of available land. It is quite smaller compared to other popular neighbourhoods in the city, and with the limited space, there is a significant gap between the demand for properties and the available options. Despite the ongoing construction of multi-story residential projects, the gap between demand and supply continues to increase each year.
Conclusion
Malabar Hill is more than just a locality in Mumbai. It is a dream of many Mumbaikars and an ambition for various individuals who might already own a home in the city but wish to earn a stature in their career and one day own a property in one of the most exclusive spots in the city. And we hope that with this, you will now know why Malabar Hill is expensive.
