Cuffe Parade has witnessed a boost in property rates since 2011, even as prices in the rest of south Mumbai have dipped marginally

Cuffe Parade has witnessed a boost in property rates since 2011, even as prices in the rest of south Mumbai have dipped marginally

“The property rate in Cuffe Parade has been shooting up since 2009, and will continue to do so because it is a hot spot in the real estate market.”
DEEPAK LAHORI, real estate consultant with Ambe Properties

chic locality in South Mumbai, Cuffe Parade is named after TW Cuffe, a prominent member of the Bombay City Improvement Trust, a body that reclaimed land in the 1960s. Nestled between the busy Colaba to its east and the Arabian Sea to its west, Cuffe Parade is an aesthetically pleasing area with a comparatively high standard of living. According to Deepak Lahori, a real estate consultant with Ambe Properties, “Cuffe Parade is a well-planned locality. It is not only a residential area, but also a high-profile commercial hub. This area has high-rises such as the World Trade Centre that has lead to its popularity. The property rate has been shooting up since 2009 and will continue to do so because it is a hot spot in the realty market.”
The skyrocketing residential buildings of Cuffe Parade offer a beautiful view of the city. While the real estate market of south Mumbai has seen a marginal dip in property rates, in Cuffe Parade the psf rate has increased from R30,000 to R57,160 since 2011. The hike can be attributed to the launch of a spate of new projects here. Recently, some projects that are still at the pre-launch stage have also increased their rates. In Cuffe Parade, you can purchase a 1-BHK, 2BHK and 3-BHK house for R80,000, R1.2 lakh and R1.8 lakh respectively.
The rents in the area is

R75,000 for a 1-BHK, R1.5 lakh for a 2-BHK and R2 lakh for a 3-BHK.
The rate is higher in Cuffe Parade compared to surrounding areas such as Nariman Point, Azad Nagar and Geeta Nagar.
The psf rate for commercial properties is between
R25,200 and R30,000. This depends on the area and facilities. For example, a shop with parking space will be costlier. A shop on the main road can cost anything between R3 crore and R4 crore. The psf rate for rental of a commercial property is R190 to R300 per month.

HISTORY

Cuffe Parade is named after TW Cuffe, a prominent member of the Bombay City Improvement Trust, a body involved in reclaimation of land in the 1960s. Nestled between the busy Colaba Causeway and the Arabian Sea, Cuffe Parade is aesthetically pleasing.

WHAT TO BUY

While the real estate market of South Mumbai has seen a marginal dip in the property rates, in Cuffe Parade the psf rate has increased from R30,000 to R57,160 since 2011. You can purchase a 1-BHK, 2-BHK and 3-BHK for R80,000, R1.2 lakh and R1.8 lakh respectively. The psf rate for commercial properties in the area is between R25,200 and R30,000.

FACILITIES

SCHOOLS
BD Somani International School GD Somani Memorial School Maarian School Kendriya Vidyalaya Holy Name High School Scholar High School

Navy Children School Primary

HOSPITALS
Platinum Hospital Ashwini Hospital Bombay Hospital ST George Hospital