Snapshot of Sion East: residential market dynamics in January

Sion East, situated in Mumbai, is a bustling locality with a unique blend of residential and commercial areas. Known for its vibrant markets and cultural diversity, Sion East offers a range of amenities and services and provides a dynamic living environment for its residents. The area is well-connected with easy access to major transportation hubs, making it convenient for residents to commute within the city. Sion East is also recognized for its educational institutions and healthcare facilities, catering to the needs of its diverse population.
In January, Sion East witnessed a modest amount of activity with 18 apartments exchanging hands across 10 buildings. The sales were equally dominated by developer sales and resale. Dosti Mezzo 22 registered the highest number of deals in a particular building which was closely followed by Kings My Home which closed 3 deals. Highway Apartment was able to manage 2 sales for the month and other buildings did a single deal each.
The most expensive apartment was sold in Vaibhav Pinnacle for a consideration of INR 7.5 crores for an average rate per square foot of INR 27,400. On the other hand the most affordable option was in Kings My Home where a flat was sold for INR 38.62 Lakhs. The largest carpet area was also sold in Vaibhav Pinnacle measuring 2,734 square feet and the smallest flat was sold in Kings My Home measuring 203 square feet.
The rate per square foot for Sion East ranged between INR 11,000 to INR 39,000 and the weighted average rate per square foot for the locality is about INR 24,267. About 56% of the flats have been sold between 500 and 1,000 square feet category and around 22% of the flats were sold in the range of 1-500 square feet. 17% of the flats were in the range of 1000-1500 square feet whereas there was a single transaction above the 2500 square feet category.
More than 60% of the flats sold in Sion East are between INR 1 Crore and INR 5 Crores.
1/3 of the flats sold are below INR 1 crore. There was a single flat sold in the month of January which crossed the INR 10 crore mark.

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Snapshot of Sion East: residential market dynamics in January

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