Backbay Reclamation, Colaba, Mumbai

Backbay Reclamation is a residential and commercial locality located in south Mumbai near Colaba. Situated on the reclaimed land of Back Bay. Backbay Reclamation PIN code is 400005. Backbay Reclamation is well connected and in close proximity to popular locales like Cuffe Parade, Nariman Point and Churchgate. It is an upscale residential cum commercial neighborhood known for its upmarket high-rises and luxury apartments.

Backbay Reclamation, Mumbai is primarily inhabited by upper middle and high-income groups working as senior executives, businessmen and professionals. Residents enjoy an international lifestyle with access to upmarket retail, restaurants and entertainment venues. The locality has a cosmopolitan culture with people from different parts of India and abroad living together in high-rise residences. It is a melting pot showcasing Mumbai's progressive outlook with residents pursuing active lifestyles. Safety and connectivity make it an aspirational address for nuclear families and young professionals.

Physical Infrastructure of Backbay Reclamation 

Backbay Reclamation is well-connected via various modes of transportation. Churchgate railway station and Chhatrapati Shivaji Maharaj Terminus (CSMT) provide direct connectivity to local trains facilitating travel to different parts of Mumbai. The area is well-served by BEST buses with routes to major business hubs and commercial districts. For vehicle movement, Dr. Homi Bhabha Road, Somnath Marg, Sadashiv Peth Road and Sheikh Memon Street link the locality to the Eastern Express Highway, helping residents to easily access areas like Sion, Kurla and BKC. 

Social and Retail Infrastructure of Backbay Reclamation

Backbay Reclamation has well-developed social and retail infrastructure. For education, reputed schools like G.D. Somani Memorial School (ICSE), Kendriya Vidyalaya No.2 and B.D. Somani International School are in close vicinity. Colleges like the Tata Institute of Fundamental Research, B.D. Somani Institute of Art and Fashion Technology and University Of Mumbai are easily accessible. Residents have access to great healthcare at hospitals such as INHS Ashwani, Apollo Clinic and Malpani Infertility Clinic. For shopping and recreational needs, The Arcade Shopping Centre and Metro Plaza mall provide quality retail outlets and dining options. Overall, residents enjoy world-class social amenities within a short radius.

Real Estate Market Trends and Rental Demand in Backbay Reclamation

Located in the upmarket neighborhood of South Mumbai, property prices in Backbay Reclamation have consistently been on the higher side. Over the past decade, average quoted prices for apartments have appreciated at an annual rate of 8-12% due to strong buyer demand. Currently, the average price for a 1 BHK apartment ranges between Rs. 1.5-2.5 crore, while 2 BHK flats are priced between Rs. 2.5-3 crore. 3 BHK apartments command prices of approximately Rs. 3-8 crore on average. Luxury penthouses and large flats can exceed Rs. 20-30 crore in value. Meanwhile, rental yields are moderate at 3-4% but tenants still pursue properties here paying monthly rents in the range of Rs. 65,000-1 lakh for a 1 BHK, Rs. 1.2-1.5 lakh for a 2 BHK and Rs. 2-3 lakh for a 3 BHK. Land rates have also risen sharply to Rs. 50,000-80,000 per square feet over the past decade, incentivizing redevelopment projects. This steady rise in property prices has boosted confidence among homeowners and investors in the locality.

Top Employment Hubs Nearby Backbay Reclamation

Situated near Nariman Point and Churchgate, Backbay Reclamation residents have close access to some of the leading commercial areas in Mumbai that serve as major job centers.

• World Trade Centre - 2km
• DBS Business Center - 4km
• Apeejay Business Centre - 4.4km
• Tata Nexarc Business Hub - 4.4km

Famous Sub-Localities near Backbay Reclamation

Being a centrally located neighborhood in South Mumbai, Backbay Reclamation has many noteworthy areas within close proximity. Some of the most popular landmarks in Backbay Reclamation include:

• Colaba
• Cuffe Parade
• Nariman Point
• Churchgate
• Fort

Top Things to Do in Backbay Reclamation

If you are looking for some fun activities nearby the Backbay Reclamation region in Colaba. Some of the top things to do in Backbay Reclamation include:

Gateway of India: 

One of the most iconic places to visit in Mumbai. An architectural marvel, it makes for nice photographs. You can also enjoy ferry rides from here.

Chhatrapati Shivaji Maharaj Vastu Sangrahalaya (CSMVS): 

Housing a rich collection of antique works of art, sculpture, musical instruments etc. It gives a peek into India's rich heritage and history.

Cuffe Parade Park: 

A charming park overlooking the magnificent Arabian Sea. Ideal to spend quality time surrounded by greenery or enjoy a game of badminton. You can also buy knick knacks from the hawkers nearby.

Nariman Point: 

Famous business district with magnificent high rises. One can enjoy views of towering skyscrapers, Queen's Necklace and scenic marine drive from the surrounding areas.

Wankhede Stadium: 

A sporting landmark of the city. Home to many cricketing moments. Catch an international cricket match or tour the stadium for an adrenaline rush of the game.

Conclusion

What's Good:

Situated in South Mumbai, Backbay Reclamation enjoys a premium address in the heart of the city. The locality offers 

• easy access to key business districts, 
• high-quality social infrastructure like schools and hospitals, 
• a cosmopolitan culture and 
• widespread retail options for all daily needs. 
• Appreciating capital values and steady rentals also make it attractive for property buyers and investors.

What's Not So Great:

While connectivity is a major advantage, the area 

• faces traffic congestion along arterial roads during peak hours. 
• Space is also at a premium with small flats. 
• High property prices may not be affordable to many. 
• Social amenities could be further improved with more open or green spaces. 
• Rising population could place greater pressure on existing civic amenities.