Over the years, South Mumbai has become synonymous with tall, awe-inspiring skyscrapers. Having a home here has always been a matter of prestige. But now, that trend may be changing with a slew of high rises emerging in North Mumbai and the western suburbs. We give you 3 key reason why these two regions are set to give stiff competition to South Mumbai’s property markets.

1) South Mumbai Has No Land

Most fresh land parcels in South Mumbai are exhausted, leaving developers with no option but to either look at redevelopment or look at the suburbs. On the other hand, North Mumbai has plenty of land as well as extra Floor-Space Index (FSI) of 2, compared to just 1.3 in South Mumbai – which allows for taller development. This has caused many developers like the Lodha Group, Omkar, Radius, and Oberoi Realty among others to launch their high-end luxury projects here.

2) South Mumbai Is Too Expensive For Business

Traditionally South Mumbai was the epicentre of business with Nariman point emerging as the central business district. But now more and more corporate offices are looking towards the North. This is primarily because the land prices in this region have sky rocketed making it unaffordable for many. Here, North Mumbai scores over South Mumbai once again as it has enough land available for the creation of gated office communities complete with all amenities and infrastructure, and at relatively affordable rates.

3) Infrastructure Is Better In The North

The key growth drivers for the development of this region are its excellent infrastructure and connectivity. The Western suburban railway makes commuting very easy for office goers. Then there is the eastern freeway which connects the Eastern suburbs to the West and the metro line that helps connect these areas. Even the international airport is barely a few kilometres away. And if that was not enough, the region has fully developed social infrastructure such as good schools, colleges, and hospitals.

But with more and more people coming to this region, upgradation of the existing infrastructure and completion of proposed projects such as metro and transhabour link road will be quite critical for its growth.

Reporter: Ashwini Priolker, NDTV
Web Editor: Nikhil Narayan Sivadas, NDTV