Decoding the housing boom in Byculla

Decoding the housing boom in Byculla

Consumers, today, aspire to grow and have better jobs, better education for their kids, better cars, and homes. Over time, the innate desire to upgrade the standard of living surges amongst every individual, and they aspire to have homes that meet these needs. Owning a house is one of the key elements that signifies one's identity towards cultural and socio-economic beliefs. With modernization and advancement in home-buying, we are witnessing these changes with the erstwhile residents of Byculla, a bustling town near Mumbai's eastern coastline where people are buying apartments to upgrade their living standards.

Byculla is popularly known for its verdant 60-acre Rani Baug botanical garden (today called Jijamata Udyan) that houses the city’s first museum (Dr Bhau Daji Lad) and an iconic zoo. Some of Byculla’s best-preserved heritage includes its railway station (which is India’s oldest surviving station), the 158-year-old Rani Baug (the city’s oldest public garden), and the British-era S-bridge, once considered an architectural marvel. The harmonious coexistence of several cultures – Catholicism, Hinduism, Islam, Judaism and Zoroastrianism- has also left its architectural imprint on Byculla in the form of the Magen David synagogue, Mankeshwar temple, Hasnabad mausoleum (dubbed Mumbai’s Taj Mahal) and the Gloria Church, among other structures.

Byculla is well connected and is upgrading its current transportation network along the eastern waterfront. Ultra -Modern Urban Transportation like the trans-harbour sea link, marine drive 2.0, Marina Project and others will make commuting seamless. The location is rapidly emerging to be the most desired residential hub in South Mumbai. Byculla has transformed over the years but has managed to retain its cultural charm and value. Having a home in Byculla is considered a status symbol. People with the desire to upgrade their living status are preferring Byculla to invest in their next adobe.

With the upcoming integrated complexes in Byculla, consumers living in Standalone developments are shifting to gated communities offering modern architecture and luxurious amenities. These projects offer an upgrade in terms of the design, amenities, and quality of living. New generation residing in Byculla prefer homes with modern amenities such as swimming pool, jogging park, gym, lounge area and much more. Piramal Aranya, a project by Piramal Realty, has witnessed a growing demand by homebuyers who have been living in Byculla for years and are now reckoning to upgrade their lifestyle with modern amenities to improve their way of living. These homebuyers have been living in the area for generations and have a special bond with the place because of its history, rich heritage, green spaces and stunning views of the city skyline that make it the most vibrant residential destination.

Byculla is also emerging as a residential hot spot for consumers staying in the nearby micro markets due to its proximity with the business districts - connectivity and lower price with premium amenities, make the area a new favourite for people living in micro-markets such as Mazgaon, Mumbai Central and Sewri. Apart from connectivity, Byculla offers landscaped gardens, heritage structures and apartments with views of the Mumbai Harbor, elements that are a distant dream in other parts of Mumbai.

Along with refreshing greenery and a healthy ecosystem, Byculla also houses a modern residential hub with several hospitals, schools, and upscale restaurants. Well-connected roads including bridges and flyovers help in connecting the region seamlessly with other parts of Mumbai. With several new infrastructure projects waiting in the wings, the city's well-heeled are also flocking back to Byculla because of the low-rise structures that are making way for modern gated communities and high-rise luxury developments, changing the region's skyline forever - making it a realty hotspot in Mumbai.

Disclaimer: This article has been contributed by Mohit Gupta, Vice President, Sales, Piramal Realty. The views shared are his own and Mumbai Live may or may not agree with all his views.

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