Style meets convenience: Plush apartments close to the workplace are attracting buyers to Worli

In 2011, 48-year-old Shailesh Kedia, a businessman, bought a 2,500 sq ft home in Prabhadevi near Worli in south Mumbai. He did not mind the Rs 7.5 crore he paid for the home, which houses a landscaped terrace garden, a jogging track, and a gym. But the biggest attraction was that his office in Lower Parel was just a 20-minute drive away. He has another reason to cheer. The prices of homes have risen threefold in the last three years in the area, he says, and will continue to appreciate. As Mudassir Zaidi, national director-residential at Knight Frank India, says, "Luxury housing in Mumbai has been largely concentrated around Worli-Lower Parel."

Last year, Lodha Group launched The Park, a 17-acre project in Worli, where it plans to develop high-rises, townhouses, luxury retail chains and even a few select bungalows. Omkar Realtors has launched Omkar 1973, offering 400 apartments which will be of 2,500-18,200 sq ft size and priced between Rs 15 crore and Rs 100 crore. K Raheja Corp's four-acre project, with 80-90 homes of 5,000-20,000 sq ft, was launched at Rs 50,000 per sq ft. DB Realty's Orchid Crown at Prabhadevi, coming up on seven acres of land, will have three high-rise towers of 75 floors each.

Hafeez Contractor is the architect of the project, which has multi-level parking space with the first residential floor starting from the 18th floor, rainwater harvesting, and intelligent automation system. Flats here are priced between Rs 11 and 18 crore.

"In a city like Mumbai, luxury and affordability tend to be mutually exclusive concepts," says Om Ahuja, CEO of Residential Services, Jones Lang LaSalle India, another property consultant.