Parel, Mumbai

The bustling area of Parel is located in Mumbai's southern region. Parel Pin Code is 400012 and it is a sought-after residential neighborhood adjacent to many well-known areas. Dadar and Lower Parel border the area, conveniently located to reach many other city areas because of its central position. Lower Parel (1.84 km), Chinchpokli (1.94 km), Dadar East (2.37 km), Prabhadevi (3.06 km), and Worli (3.19 km) are a few of the places close by. 

The area, once well-known for its textile mills, was a significant industrial center during the British colonial period. However, Parel steadily altered due to the loss of the textile sector. Today, it has developed into a mixed-use neighborhood that includes not just homes but also businesses, institutions of higher learning, and healthcare facilities. The Parli Vaijnath Mahadev Shiva temple gave the location its name. The Secondary Business District (SBD) contains it. 

Due to its accessible location and access to contemporary services, the area draws a mix of professionals, families, and students. The cultural diversity of Mumbai's global spirit is reflected in Parel. It is home to many religious buildings, including churches, mosques, and temples, which serve the different religious beliefs of its inhabitants. Additionally, people looking for a well-rounded urban experience often choose Parel because of its proximity to business areas and entertainment venues.

Physical Infrastructure 

Parel's people benefit from various physical infrastructure upgrades that have improved connection and accessibility. The metro line, a critical part of Parel infrastructure, now operates and offers commuters in the region effective travel alternatives. The area also benefits from being close to essential roads, like state and national highways (NH), making traveling to and from Parel simple. At 8.2 kilometers from Parel, Chhatrapati Shivaji International Airport is the closest airport. At a distance of 0.79 kilometers, Mumbai Currey Road is the closest railroad station. Seeing the Parel map, this location is connected to the other destinations by the Eastern and Western Express Highways and by sea links. It is connected by monorail to many of Mumbai's commercial centers. On the Mumbai Suburban Railway line are the railroad stations of Parel and Lower Parel.

Social and Retail Infrastructure

Parel's social and retail infrastructure is robust and meets the varied demands of the locality’s inhabitants. The area is home to various educational institutions, including prestigious schools like JBCN International School and Parel English High School. The Mahatma Phule College and the M D College of Arts, Science, and Commerce are well-known colleges in the region for higher education. Parel is well-equipped with top-notch hospitals and medical facilities in terms of healthcare. KEM Hospital (King Edward Memorial Hospital), Tata Memorial Hospital, and Global Hospital are a few well-known institutions. One of Mumbai's biggest malls, Center Point Shopping Mall, draws customers with its various brands, entertainment opportunities, and culinary options in Parel. Additionally, initiatives are in the works to improve Parel's social and retail infrastructure, guaranteeing better development for the neighborhood. 

Real Estate Market Trends and Rental Demand 

Properties in Parel cost, on average, Rs. 30,938 per sqft. At Rs. 61,250 per sqft, the most expensive property in Parel is available for sale. A one-bedroom apartment with a built-up space of 500 sqft is for rent at Rs. 32,000 per month. Rent for a commercial shop is Rs. 70000 per month. The Parel property price of the business store with a carpet space of 545 square feet is Rs. 5.20 Cr. In recent years, the real estate market and commercial Parel property rates have seen remarkable home prices and rental demand hikes due to the area's central position, improved infrastructure, and closeness to business centers, making it a desirable investment choice. The development of Parel into a mixed-use community with contemporary facilities has also increased the value of its real estate. In addition, the presence of healthcare facilities and educational institutions draws professionals and students, adding to the cause of rental increment in the past few years. 

Top Employment Hub Near Parel

The central Mumbai neighborhood of Parel has easy access to numerous well-known IT business parks, making it a desirable alternative for IT workers looking for nearby housing. Top employment hubs in Parel include the following:

• Peninsula Business Park-3.1km
• Lower Parel-3.1km
• Kamala Mills- 2.7km

These are some of the popular landmarks in Parel that make Parel a suitable locality in Mumbai. 

What are Some Popular Sub-Localities / Colonies / Areas? 

Within Parel, some of the well-known and popular neighborhoods are:

1. Parel Village
2. Parel Tank Road
3. Ambedkar Nagar
4. Worli
5. Prabhadevi
6. Jerbai Wadia Road
7. Bhoiwada

As they accommodate different tastes and lifestyles, these sub-localities add to Parel's diversity and vibrancy.

Top Things to do in Parel

Parel Mumbai, which is active and conveniently situated, provides both locals and tourists with a wide selection of recreational opportunities. 

Some of the Top Things to do in Parel are Listed below:

1.  Look for exciting treasures and good deals at crowded street markets and neighborhood stores. Alternatively, for a more upmarket shopping experience, go to Phoenix Palladium.
2. Go to Lower Parel to explore Parel's vibrant nightlife by stopping by chic clubs, pubs, and lounges that provide something for everyone.
3. There are various options for a good chill-out session with your friends, including offices and eateries. 
4. Visit Matterden CFC to see a movie in this elegant theater, one of Mumbai's original single-screen theaters. It has existed since 1926!
5. Visit the Hard Rock Cafe, Social, and the just-opened LILT lounge, which will inspire you to let loose and let rip!

Conclusion 

Parel provides various activities to pique every interest with its contemporary conveniences and historic charm. Whether you're a gourmet, an art enthusiast, a nature lover, or interested in discovering more about Mumbai's rich cultural legacy, Parel has something to offer everyone.

What's Good About Parel:

Parel is a desirable Mumbai neighborhood to reside in due to its many benefits.

1. Central Location: The city's leading business and residential sectors are easily accessible from here. 
2. Improved Infrastructure: Parel has a developed social and transportation infrastructure.
3. A wide variety of amenities are available in the neighborhood, including hospitals, schools, colleges, and entertainment centers.
4. Dynamic Lifestyle: Parel's vibrant eating, shopping, and street life appeal to many. 

What can be Improved in Parel:

Despite all of its benefits, Parel might be enhanced in the following areas:

1. Congestion: The region has considerable traffic during rush hours, which affects commute times.
2. Exorbitant Property Prices: Parel real estate prices may be high, making it difficult for some people to afford.
3. Some areas of Parel are still under development or pending re-development. 
4. Limited green space: By adding more parks and recreational spaces, locals' quality of life might be improved.
5. Garbage Management: Improving garbage disposal techniques might aid in keeping the region clean.