Demand for compact luxury homes rising in Dadar, Mumbai

Though COVID might have created a demand for larger homes, the micro market of Dadar, the central Mumbai bastion of Maharashtrians known for the iconic Shivaji Park is witnessing rising demand for compact luxury homes in the price range of ₹2.5 crore to ₹5 crore, according to real estate developers and property experts.

With local residents and a growing segment of young professionals, MSME owners, affluent and nuclear families seeking compact yet luxurious homes, areas like Dadar, Shivaji Park, Old Cadel Road and even adjoining Prabhadevi have seen a spate of construction activities, mostly redevelopment.

According to developers, smaller units, mostly 2 BHKs are popular as they are “affordable” as compared to Worli prices and have more resale value apart from providing a host of advantages. 

Dadar and Shivaji Park areas are preferred as these locations offer a rare combination of luxury and accessibility, making these areas an ideal choice for buyers looking to upgrade their lifestyle with a home in Central Mumbai, the developers said.

“The demand for one and two BHK luxurious residences in prime locations of Dadar is on the rise and considering the luxury element we have introduced Dadar’s first development which boasts Mumbai’s only one and two BHK residences with a 10.5 feet floor-to-floor height as against the normal 9.5 feet, creating an expansive and luxurious living experience,’’ said Priyanka Jindal Gupta, advisor, Viyaara Realty.

Anand Gupta, vice-president, Builders Association of India (BAI) said he has seen this trend emerging in the Dadar west locality as people are preferring to move into slightly bigger compact luxury homes. “Sales in this locality is good and many developers have successfully completed projects and many projects are ongoing,” he said.

According to him prices range between ₹55,000 and ₹65,000 per sq. ft. in Dadar area as compared with ₹1 lakh per sq. ft. in nearby Worli. “This is giving a boost to redevelopment in Dadar locality,” he said.

“Considered strategic locations Shivaji Park in Dadar remains one of the most sought-after locations in Mumbai, known for high resale value, seamless connectivity, and vibrant social infrastructure,” said Manoj Paliwal, director, Viyaara Realty.

According to real estate senior executive Mohit Ramsinghani, as major infrastructure projects reshape Mumbai’s landscape, Dadar has become the city’s main transport hub. 

These projects include the Mumbai Coastal Road linking South Mumbai to Bandra providing easy access from Dadar to Atal Setu to reach Navi Mumbai and Pune, the Worli-Bandra Sea Link, and the underground metro from Worli, Acharya Atre Chowk to Siddhivinayak. 

“Better connectivity to key business areas and suburbs have made homes in Dadar more desirable especially compact one and two BHK units that appeal to cost-conscious buyers,” he said.  

“With quick links to all parts of Mumbai and beyond, having a home in the stretch from Worli to Prabhadevi to Dadar-Shivaji Park and Mahim offers more than just a place to stay - it provides unmatched ease, a new form of luxury in Mumbai,” he added.