About Lokhandwala Circle
Lokhandwala Circle sits at the heart of Lokhandwala Complex, one of Mumbai's most recognised residential and commercial neighbourhoods within Andheri West. Lokhandwala Complex, also known as Lokhandwala, is a large upmarket and affluent residential and commercial neighbourhood in Andheri West suburb in Mumbai, India. The name Lokhandwala comes from the name of the developer with the construction firm being Lokhandwala Constructions Pvt. Ltd., and it was the primary developer of the suburb of Versova, which was previously basically a marshland.
Over the decades, the locality has grown into one of the city's most sought-after addresses. Lokhandwala offers a vibrant social and cultural scene, and the area is renowned for its luxurious residential buildings, offering residents a premium lifestyle with state-of-the-art facilities and services. The neighbourhood is also famous for its resident community: Bollywood actors, film directors, writers and producers live here, and most NRIs (Non-Resident Indians) also live here.
On pricing, Lokhandwala Circle commands premium rates reflective of its address and infrastructure. Average property rates per square feet in Lokhandwala, Mumbai for flats stood around Rs 43,350 per sq ft. Appreciation has stayed strong too — flat rates in Lokhandwala changed by 8.4% in the last 1 year, 26.6% in the last 3 years, and 31.8% in the last 5 years.
The micromarket is also seeing a wave of institutional redevelopment. Puravankara has secured redevelopment rights in Lokhandwala, Pali Hill, and Breach Candy — some of the city's most prestigious addresses. Within Lokhandwala Circle itself, the developer has secured redevelopment rights for two housing societies across 3 acres at the heart of Lokhandwala Circle, with an estimated GDV of ₹1,500 Cr.
At a Glance
