Mumbai’s real estate market is once again under the spotlight — this time, not for South Mumbai or Bandra, but for the western suburb of Borivali. A 5 BHK apartment listed for ₹8.52 crore near the Borivali railway station has sparked an online buzz, drawing both shock and analysis across social media. With a per square foot price of ₹35,000, many are wondering: Is Borivali becoming the next big luxury hotspot?
📌 Highlights of the Listing
| Detail | Information |
|---|---|
| Apartment Type | 5 BHK |
| Location | Within 1 km of Borivali Railway Station |
| Price | ₹8.52 crore |
| Area | 2,300+ sq ft |
| Rate per sq ft | ~₹35,000 |
| Notable Past Deal Nearby | ₹14 crore for a 4 BHK at ₹56,000/sq ft (2024) |
💼 Social Media Buzz & Public Reaction
The high price of the Borivali 5 BHK apartment quickly became a trending topic on social platform X (formerly Twitter).
- “Borivali sells 5 BHK apartments for ₹8 crore++ can’t believe. 20+ years ago, 2 BHKs were going for ₹15-20 lakh,” shared one user.
- Others defended the pricing. “₹1.5 crore compounded over 20 years with 10% inflation becomes ₹8 crore. Not shocking,” noted another.
- One viral comment read: “If you have ₹8 crore, better move to Dubai. Tax-free income, resident visa, and cheaper home loan rates.”
📈 What Do Real Estate Experts Say?
According to Dhiren Joshi, a real estate consultant in Borivali:
“Residential apartments in Borivali typically fetch ₹30,000 to ₹35,000 per sq ft. Luxury projects touch ₹40,000–₹45,000 per sq ft, with the highest being ₹56,000.”
These numbers, while surprising to the general public, are in line with post-pandemic property demand and redevelopment trends, say experts.
🏗️ Borivali’s Most Expensive Deal Yet
In 2024, Borivali recorded its priciest deal — a 4 BHK apartment at Aquaria Grande, developed by Wadhwa Group, sold for ₹14 crore (₹56,000 per sq ft). This marked a significant benchmark for western suburbs, putting it on par with traditionally high-end areas like Andheri, Vile Parle, and Mahim.
🌇 Why Are Prices in Borivali Rising?
Several factors are contributing to the price hike:
- Redevelopment Boom: The Borivali-Goregaon corridor clocked ₹40,083 crore in home sales in FY25, up 39% YoY.
- Improved Connectivity:
- Operational Metro Line 2A
- Western Express Highway
- Upcoming Mumbai-Ahmedabad Bullet Train Hub
- Increasing Demand: Both end-users and investors are targeting Borivali for its growth potential and livability.
📖 A Bit of History: Why the Name ‘Borivali’?
According to Wikipedia, the name Borivali comes from the ‘bor’ bushes that once grew abundantly in the area. The Marathi word bori-vali means “place of berries.”
❓ FAQ: Borivali’s Real Estate Trends
Q1. Why is a 5 BHK apartment in Borivali priced at ₹8.52 crore?
A: Due to rising land costs, redevelopment projects, and improved connectivity, luxury apartments in Borivali have seen a sharp appreciation in value.
Q2. How much is the most expensive flat sold in Borivali?
A: A 4 BHK at Aquaria Grande was sold for ₹14 crore in 2024 at ₹56,000 per sq ft.
Q3. What is the average per sq ft price in Borivali currently?
A: Prices range from ₹25,000 to ₹40,000 per sq ft, with luxury units reaching ₹56,000.
Q4. Is Borivali still affordable compared to South Mumbai?
A: Yes. While prices are rising, it’s still far more affordable than areas like Worli and Pali Hill, where rates exceed ₹1–2.8 lakh per sq ft.
Q5. Is Borivali a good investment for homebuyers?
A: With robust infrastructure, growing demand, and high resale value, Borivali is becoming a prime investment destination in Mumbai.