IIT Area, Powai, Mumbai

IIT Area is a sub-locality in Powai, Central Mumbai Suburbs, and is well connected with other significant localities such as Powai, Vikhroli West, Bhandup West, Kanjurmarg East and Kanjurmarg West. The IIT Area PIN code is 400076.

The IIT Area Mumbai has a residential population density comprising students, professionals, faculty members, and a start-up hub with young entrepreneurs. As a result, a mixture of various communities is living together with modernised culture. This place has a vibrant nightlife and is considered one of Mumbai's most preferred residential areas. The lifestyle in the IIT Area, Powai, is dynamic, blending vibrant social gatherings with the culture of academic roots. Residents enjoy access to amenities like dining restaurants and shopping malls. Residents celebrate cultural festivals and events together, and academic pursuits play an important role in community life. 

Physical Infrastructure of IIT Area

According to the IIT Area Map, road connectivity is excellent in this locality. Jogeshwari-Vikhroli Link Rd connects it to both the Western and Eastern Express Highways. Kanjurmarg railway station is the main and nearest railway station to access this locality. Chhatrapati Shivaji Maharaj International Airport is around 11 km. The locality is well served by nearby metro stations such as Jogeshwari East on the Red Line and TECNO Marol Naka on the Blue Line.

Social and Retail Infrastructure of IIT Area

IIT Area infrastructure is designed to provide residents with a comfortable and convenient lifestyle with robust social and retail infrastructure. Essential amenities like educational institutions, hospitals, and shopping malls are nearby. Renowned schools such as Green Lawns English High School, A.M. Naik School, Kendriya Vidyalaya Powai, Hiranandani Foundation School, and A.M. Naik Schools are nearby. The career-oriented teenagers will find good colleges and educational institutions in close proximity, including the Indian Institute of Management, IIT Bombay Campus School and Junior College, Chandrabhan College of Arts, Science & Commerce, Saraswati College of Engineering, and Don Bosco High School and Junior College. Healthcare facilities are assisted by excellent hospitals like IIT Bombay Hospital, Nirali AM Naik Charitable Healthcare Facility, Andheri Holy Family Hospital, and Dr. L. H. Hiranandani Hospital. 

Residents can enjoy smart shopping, food, branded clothes, and daily essentials in nearby shopping malls such as Powai Plaza, Heera Panna Shopping Center, Phoenix Market City, and Oberoi Mall. Overall, the IIT area has good living and good connectivity in one place. 

Real Estate Market Trends and Rental Demand in IIT Area

IIT Area property rates range from Rs 18,300 to Rs 32,007 per square foot, with a year-to-year appreciation of 5.95%. The real estate market in the IIT area attracts both investors and homebuyers. The rental market is equally robust, with monthly rents for 3 BHK ranging from Rs. 60,000 to Rs 2.5 Lac, 2 BHK from Rs 40,000 to Rs 50,000, and 1 BHK from Rs 22,000 to 70,000, depending on location, space, and amenities nearby. The average rent price is Rs 1.2 lac per month, with a year-to-year appreciation of 29.03%.

The rise in IIT Area Property Prices is due to the excellent connectivity, good infrastructure, and nearby business hubs, making it the preferred choice for job seekers, families and students. 

Top Employment Hubs near IIT Area

IIT Area is in strategic locations in Mumbai and close to several prominent employment hubs, making it the best choice for professionals of various industries and also for job seekers willing to start their careers. The nearby business centers contribute to rental demand, which is one of the main reasons for high rental prices too. Following are some of the top employment hubs near the IIT Area:

• Orchard Corporate Park (9.8 km) - Aarey Colony, Goregaon, Mumbai
• Prima Bay (5.1 km) - Chandivali, Powai, Mumbai
• Powai Supreme Business Park (3.9 km) - IIT Main Gate, Powai, Mumbai 
• Universal Business Park (5.6 km) - Chandivali, Andheri East, Mumbai
• Mirchandani Business Park (6.4 km) - Nair Wadi, Andheri East, Mumbai

Famous Sub-Localities near IIT Area

The IIT Area has several well-known sub-localities and areas, making this a prime location. These neighboring areas offer additional amenities and attractions within easy reach for residents. Some of the famous sub-localities and areas within 10-12 km of the IIT Area include:

• Gokhale Nagar
• Chaitanya Nagar
• Mansarovar
• Ramabai Ambedkar Nagar
• Andheri

Things to do in the IIT Area

IIT Area is the best place to live and explore the neighborhood, which is surrounded by several tourist attractions. Residents can enjoy a variety of things with friends and families by hanging out in nearby places. Here are some of the top landmarks near the IIT Area:

Mahajan Forest Park is the best forest park which is a peaceful and pollution-free that one must visit in Powai. The park located at Hiranandani Gardens is a first preference for fitness enthusiasts, college students and strollers, opens from 6 am to 10 am, and then reopens again till 6 pm with no entrée fee. The park has lush greenery to escape from heat and pollution; people can enjoy sunrises, sunsets, and photography. 

Nisarga Restaurant & Bar is a place where residents can enjoy their weekends by dining at Nisarga Restaurant & Bar. This is one of the best restaurants, and both vegetarians and non-vegetarians can enjoy the delicious food with bar facilities. They have ample car parking space.

Mahakali Caves are the oldest caves, dating back as much as 2000 years, since the Ashoka Empire, were also used by Buddhist monks for meditation. There are 19 rock-cut caves in total, believed to have been built between the first and sixth centuries. There is greenery around the cave, and people visit here with friends and family. 

Powai Lake View is a the British regime built the Powai Lake in 1890 after the construction of two dams about 10 meters high across hillocks. The lake is still a tourist attraction and is 12 meters deep. It is a good place to hang out, and there are good eating outlets on the opposite side of the lake. 

Jogeshwari Caves are the Ancient Buddhist structures carved around 1500 years ago, located in the middle of slum dwellings with entrances from busy streets. The major cave is huge and has the Ganpati temple in the center. There are 2-3 more caves or narrow openings. Worth a visit for the historic site, which is clean and peaceful. 

Conclusion

What’s Good about IIT Nagar

• Excellent connectivity through Eastern Express Highway and Aarey Colony Road
• Social infrastructure is outstanding, with good healthcare facilities like Hiranandani Hospital and IIT Bombay Hospital and notable schools like Bombay Scottish and Poddar International schools
• Multiple employment hubs in the locality provide job opportunities for professionals
• Hush green gardens created a healthy environment and fresh air
• Proximity to the prominent Indian Institute of Technology and the Indian Institute of Management

What’s not Good about IIT Nagar

• Peak hours are difficult while traveling due to traffic congestion
• Dusty air due to ongoing construction in some parts
• Potential for further development of good shopping malls in the vicinity
• Poor road conditions and potholes need attention 
• Security and safety need to be tight as students across nations prefer this location for their career choices.

In conclusion, IIT Nagar is in a strategic location in Central Mumbai Suburbs, surrounded by major localities like Powai and Kanjurmarg. Its proximity to the Indian Institute of Management makes it a key rental hub for students. This seems to be one of the top locations to reside in the future.