Are restaurants in Bandra West influencing the soaring real estate prices?

Updated On: 21 July, 2024 01:24 PM IST | Mumbai | Nascimento Pinto

At a time when Bandra West is booming with restaurants, cafes and bars, those from outside are finding it difficult to afford the rent in the region. With this in mind, mid-day.com spoke to a real estate expert and restaurateurs to learn more

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Every other day there is a restaurant, café or bar opening in the Bandra, or at least that is a positive running joke among Mumbaikars, who are now finding it difficult to keep track of where they should eat next. Most of us have lost count of the number of restaurants, bars and cafes that have opened in Bandra West alone in the last year. While the neighbourhood is known to be one of the top spots in the city for food establishments to open, the number only seems to be rising.

Soaring real estate prices
City-based second-generation realtor Rahul Kewalramani, "Bandra is a premium surburb filled with celebrities and ultra High Net Worth Individuals (HNIs). So, real estate prices for residential areas in Bandra are on the higher end. The cheapest that you can get a place for is station side ranging from Rs 35,000 to Rs 50,000 per square feet, and in other middle-average locations, you are looking at anywhere between Rs 50,000 to Rs 65,000 per square foot, and some of the premium areas like Pali Hill, you are looking at Rs 75,000 to Rs 1.25 lakh per square feet. For those even higher than that, the sea-facing ones go from Rs 1.50 lakh to Rs 2.50 per square feet."

Particularly for commercial spaces, including restaurants, cafes and bars, the city-based real estate professional gets inquiries for Colaba, Worli-Lower Parel, Bandra, Juhu and Andheri. While real estate is prime even in these areas, what makes it the ideal place to open a restaurant?

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Home / Lifestyle / Food / Article / Are restaurants in Bandra West influencing the soaring real estate prices?