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Economic Times
01-07-2025
- Business
- Economic Times
Mumbai: Flat near Borivali station lists for Rs 8.5 crore, netizens say ‘shift to Dubai, get a golden visa, start a company and live tax-free'
Apartment listed within 1 km of Borivali railway station Borivali's highest deal touched Rs 14 crore Live Events Social media reactions include Dubai comparisons Local brokers say price growth is in line with demand Borivali still cheaper than Mumbai's prime localities Redevelopment and connectivity drive property market Historical roots and evolving landscape (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A 5 BHK apartment in Mumbai's Borivali suburb has been listed for resale at over Rs 8.52 crore, triggering a strong reaction on social media. Spanning more than 2,300 sq ft, the apartment is priced at around Rs 35,000 per sq ft. The listing, posted on real estate platform reflects a wider trend of surging residential prices in the area after the apartment, located within a kilometre of Borivali railway station, is among the more expensive resale listings in the suburb. While some users on social media expressed disbelief at the price, others pointed to economic growth and inflation over the years as justifications."Borivali sells 5 BHK apartments for Rs 8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for Rs 15-20 lakh in Borivali and 5 BHK didn't exist certainly," one user wrote on user commented, 'Rs 1.5 crore with 10% inflation for a BHK over 20+ years... Rs 8 crore for a 5 BHK today isn't surprising.'In 2024, Borivali recorded one of its highest-ever residential deals. A 4 BHK luxury apartment measuring 2,497 sq ft was sold for Rs 14 crore at a rate of Rs 56,000 per sq ft. According to the apartment is located in a Grade A building called Aquaria Grande, constructed by the Wadhwa estate experts noted this deal placed Borivali in the same price league as Mumbai locations like Andheri, Vile Parle, Dadar and listing also prompted a range of responses on X. Some users suggested that buyers with a budget of Rs 8 crore could consider relocating to international destinations like Dubai.'If you have Rs 8 crore, it's better to move to Dubai. Start a company in a free zone, get a 2-year resident visa, earn tax-free income, and invest Rs 4.5 crore in property to qualify for a golden visa. Plus, home loan rates there are down to 3.5%,' one user to local property agents, residential prices in Borivali currently range between Rs 25,000 and Rs 40,000 per sq ft, depending on the project and location. Dhiren Joshi, a Borivali-based real estate consultant, said, 'Residential apartments in Borivali are typically fetching Rs 30,000 to Rs 35,000 per sq ft across most projects. In some luxury projects, prices have touched Rs 40,000 to Rs 45,000 per sq ft, and the highest so far has been Rs 56,000 per sq ft.'Despite the recent surge, Borivali remains more affordable than Mumbai's high-end areas like Pali Hill and Worli, where rates can exceed Rs 1 lakh and go up to Rs 2.84 lakh per sq ft, according to along with neighbouring Goregaon, recorded property sales worth Rs 40,083 crore in FY25. According to media reports, this marks a 39% growth year-on-year, driven by a wave of redevelopment and increasing demand from both end-users and introduction of Metro Line 2A, improved access via the Western Express Highway, and the planned Mumbai-Ahmedabad bullet train terminal have all contributed to better connectivity, making Borivali more attractive to gets its name from the 'bor' bushes—known for their sweet berries, that once grew in abundance in the area. The name derives from the Marathi term bori-vali, meaning "place of berries." Today, while the landscape has changed, the area's identity continues to evolve along with its real estate market.
Time of India
01-07-2025
- Business
- Time of India
Mumbai: Flat near Borivali station lists for Rs 8.5 crore, netizens say ‘shift to Dubai, get a golden visa, start a company and live tax-free'
Apartment listed within 1 km of Borivali railway station Borivali's highest deal touched Rs 14 crore Live Events Social media reactions include Dubai comparisons Local brokers say price growth is in line with demand Borivali still cheaper than Mumbai's prime localities Redevelopment and connectivity drive property market Historical roots and evolving landscape (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A 5 BHK apartment in Mumbai's Borivali suburb has been listed for resale at over Rs 8.52 crore, triggering a strong reaction on social media. Spanning more than 2,300 sq ft, the apartment is priced at around Rs 35,000 per sq ft. The listing, posted on real estate platform reflects a wider trend of surging residential prices in the area after the apartment, located within a kilometre of Borivali railway station, is among the more expensive resale listings in the suburb. While some users on social media expressed disbelief at the price, others pointed to economic growth and inflation over the years as justifications."Borivali sells 5 BHK apartments for Rs 8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for Rs 15-20 lakh in Borivali and 5 BHK didn't exist certainly," one user wrote on user commented, 'Rs 1.5 crore with 10% inflation for a BHK over 20+ years... Rs 8 crore for a 5 BHK today isn't surprising.'In 2024, Borivali recorded one of its highest-ever residential deals. A 4 BHK luxury apartment measuring 2,497 sq ft was sold for Rs 14 crore at a rate of Rs 56,000 per sq ft. According to the apartment is located in a Grade A building called Aquaria Grande, constructed by the Wadhwa estate experts noted this deal placed Borivali in the same price league as Mumbai locations like Andheri, Vile Parle, Dadar and listing also prompted a range of responses on X. Some users suggested that buyers with a budget of Rs 8 crore could consider relocating to international destinations like Dubai.'If you have Rs 8 crore, it's better to move to Dubai. Start a company in a free zone, get a 2-year resident visa, earn tax-free income, and invest Rs 4.5 crore in property to qualify for a golden visa. Plus, home loan rates there are down to 3.5%,' one user to local property agents, residential prices in Borivali currently range between Rs 25,000 and Rs 40,000 per sq ft, depending on the project and location. Dhiren Joshi, a Borivali-based real estate consultant, said, 'Residential apartments in Borivali are typically fetching Rs 30,000 to Rs 35,000 per sq ft across most projects. In some luxury projects, prices have touched Rs 40,000 to Rs 45,000 per sq ft, and the highest so far has been Rs 56,000 per sq ft.'Despite the recent surge, Borivali remains more affordable than Mumbai's high-end areas like Pali Hill and Worli, where rates can exceed Rs 1 lakh and go up to Rs 2.84 lakh per sq ft, according to along with neighbouring Goregaon, recorded property sales worth Rs 40,083 crore in FY25. According to media reports, this marks a 39% growth year-on-year, driven by a wave of redevelopment and increasing demand from both end-users and introduction of Metro Line 2A, improved access via the Western Express Highway, and the planned Mumbai-Ahmedabad bullet train terminal have all contributed to better connectivity, making Borivali more attractive to gets its name from the 'bor' bushes—known for their sweet berries, that once grew in abundance in the area. The name derives from the Marathi term bori-vali, meaning "place of berries." Today, while the landscape has changed, the area's identity continues to evolve along with its real estate market.
Hindustan Times
30-06-2025
- Business
- Hindustan Times
₹8.5 crore for a 5 BHK apartment in Mumbai's Borivali sparks social media reactions
A 5 BHK apartment in Mumbai's Borivali has been listed for over ₹ 8.52 crore. Spanning more than 2,300 sq ft, the asking price comes to around ₹ 35,000 per sq ft. The listing has sparked a buzz on social media platform X, with users reflecting on the sharp rise in property prices in the suburb over the past two decades. Mumbai real estate update: A 5 BHK apartment in Mumbai's Borivali has been listed for over ₹ 8.52 crore. Spanning more than 2,300 sq ft, the asking price comes to around ₹ 35,000 per sq ft.. (Picture for representational purposes only)(Mehul R Thakkar/HT) While many expressed disbelief, real estate experts say the surge aligns with post-pandemic market trends, with per sq ft rates in Borivali now reaching up to ₹ 56,000. Notably, in 2024, the suburb saw one of its most expensive deals, a 4 BHK luxury apartment sold for ₹ 14 crore at ₹ 56,000 per sq ft. Borivali in the western suburbs of Mumbai is approximately a 2-hour drive from South Mumbai, depending on traffic conditions. According to a listing on a 5 BHK apartment located within a 1-km radius of Borivali railway station was listed for resale at ₹ 8.52 crore. Reacting to the listing, users recalled a time 20 years back when 2 BHK apartments in Borivali were priced between ₹ 15–20 lakh, and 5 BHK units weren't even part of the market supply. "Borivali sells 5 BHK apartments for ₹ 8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for ₹ 15-20 lakh in Borivali and 5 BHK didn't exist certainly," said an X user. While some users expressed shock at the current price tag, others said the rise was expected. ' ₹ 1.5 crore with 10% inflation for a BHK over 20+ years... ₹ 8 crore for a 5 BHK today isn't surprising,' one user commented. Another X user cited growth in the stock market over 25 years and said "with the Indian growth story and stock market performance, this much is expected." Also Read: Mumbai records 11,521 property registrations in June, sees 1% YoY dip Borivali's most expensive deal: 4 BHK apartment sold for ₹ 14 crore It should be noted that in 2024, Borivali recorded one of its priciest deals when a 4 BHK luxury apartment sold for ₹ 14 crore, clocking in at ₹ 56,000 per sq ft, according to property registration data accessed by According to the documents, the 4 BHK apartment, which is 2,497 sq ft, is located in a Grade A residential building named Aquaria Grande constructed by the Wadhwa Group. Also Read: Top real estate deal in Mumbai's suburbs: 4 BHK apartment in Borivali sells for ₹ 14 crore at ₹ 56,000 per sq ft This deal was perhaps the highest rate at which a property has been sold in Borivali and the price is at par with other locations like Andheri, Vile Parle, Dadar and Mahim of Mumbai, real estate experts had told Move to Dubai if you have ₹ 8 crore, says X user amid Borivali price buzz Amid the buzz over Borivali's ₹ 8.5 crore apartment listing, one X user suggested that those with such a budget should consider relocating to Dubai instead. 'If you have ₹ 8 crore, it's better to move to Dubai. Start a company in a free zone, get a 2-year resident visa, earn tax-free income, and invest ₹ 4.5 crore in property to qualify for a golden visa. Plus, home loan rates there are down to 3.5%,' the user wrote. What real estate experts say about Borivali's soaring real estate prices According to local brokers, the average price of apartments in Borivali ranges between ₹ 25,000 and ₹ 40,000 per sq ft, with most projects trading around ₹ 30,000 per sq ft. 'Residential apartments in Borivali are typically fetching ₹ 30,000 to ₹ 35,000 per sq ft across most projects,' said Dhiren Joshi, a real estate consultant based in the area. 'In some luxury projects, prices have touched ₹ 40,000 to ₹ 45,000 per sq ft, and the highest so far has been ₹ 56,000 per sq ft,' he said. While Borivali is seeing rapid appreciation, it still remains more affordable compared to Mumbai's most expensive pockets like Pali Hill in Bandra and Worli, where luxury apartment prices range from over ₹ 1 lakh to as high as ₹ 2.84 lakh per sq ft, according to brokers. According to Wikipedia, Borivali gets its name from the abundance of 'bor' bushes that once thrived in the area. These bushes bear a sweet fruit known as 'ber' in English, or berries. The name is believed to be derived from the Marathi words bori-vali, meaning "place of berries." Historically, the region was known for these berry-laden shrubs, which played a key role in shaping its identity and name. Borivali-Goregaon belt witnesses ₹ 40,083 crore in home sales in FY25, driven by redevelopment and demand surge The Borivali-Goregaon corridor recorded home sales worth ₹ 40,083 crore in FY 2024–25, marking a 39% year-on-year growth. The surge has been largely driven by a wave of redevelopment projects and strong end-user and investor demand, said media reports, cementing Borivali's status as a key real estate hotspot in Mumbai. Also Read: Mumbai's housing affordability is at a 15-year high, but homeownership still remains out of reach for most buyers Improved connectivity has further boosted the area's appeal. With the operational Metro Line 2A, seamless access via the Western Express Highway, and the upcoming Mumbai-Ahmedabad bullet train hub, commuting has become significantly easier, making Borivali a preferred choice for homebuyers, reports said.
