Owning a sea-facing apartment in Marine Drive, Mumbai, is a dream for many. Known as the ‘Queen’s Necklace,’ Marine Drive offers breathtaking views of the Arabian Sea and the city skyline. However, purchasing a property in this prime location requires careful consideration. In this guide, we’ll explore essential tips and tricks to help you navigate the process of buying a sea-facing apartment in Marine Drive.
1. Understanding the Market
Marine Drive is one of Mumbai’s most coveted locales, and property prices reflect its exclusivity. As of 2025, the average price of properties in Marine Lines, which encompasses Marine Drive, is approximately ₹34,762 per square foot . Sea-facing apartments command a premium, often ranging from ₹50,000 to ₹1 lakh per square foot, depending on factors like building age and amenities .
2. Setting a Realistic Budget
Given the high property prices, it’s crucial to set a realistic budget. Consider not only the purchase price but also additional costs such as stamp duty, registration fees, maintenance charges, and potential renovation expenses. For instance, a 2 BHK sea-facing apartment in Marine Drive can range from ₹6.5 Cr to ₹9.8 Cr . Ensure your budget accommodates these expenses without straining your finances.
3. Choosing the Right Property
Marine Drive offers a variety of properties, from heritage Art Deco buildings to modern high-rises. For example, the ‘One Marina’ project offers luxury sea-front residences with panoramic views . When selecting a property, consider factors such as:
- View Quality: Ensure the apartment provides unobstructed sea views.
- Building Age: Older buildings may require more maintenance.
- Amenities: Look for features like parking, security, and recreational facilities.
- Floor Level: Higher floors often offer better views and reduced noise.
4. Legal Due Diligence
Before finalizing the purchase, conduct thorough legal checks:
- Title Deed: Verify the property’s ownership and ensure there are no legal disputes.
- RERA Registration: Confirm that the project is registered under the Real Estate (Regulation and Development) Act.
- Approvals: Check for necessary approvals from municipal and environmental authorities.
- Encumbrances: Ensure the property is free from any encumbrances or liabilities .
5. Evaluating the Builder’s Reputation
Research the builder’s track record. Established builders with a history of delivering quality projects on time are preferable. For instance, projects like ‘Prestige Ocean Towers’ in Marine Drive are developed by reputable builders known for their commitment to quality .
6. Assessing Maintenance Charges
Maintenance charges can vary significantly between buildings. In premium locations like Marine Drive, these charges may be higher due to the upkeep of common areas and amenities. Ensure you are comfortable with the monthly maintenance fees and understand what services are included.
7. Considering Future Appreciation
Investing in a sea-facing apartment in Marine Drive is not just about enjoying the view; it’s also a financial decision. Properties in this area have shown consistent appreciation over the years. Factors contributing to this include limited supply, high demand, and ongoing infrastructure developments in Mumbai .
8. Engaging Professionals
Navigating the property market can be complex. Engage professionals such as real estate agents, legal advisors, and financial consultants to guide you through the process. Their expertise can help you make informed decisions and avoid potential pitfalls.
Conclusion
Purchasing a sea-facing apartment in Marine Drive is a significant investment. By understanding the market, setting a realistic budget, conducting thorough due diligence, and engaging professionals, you can make a well-informed decision. Remember, this is not just a property purchase; it’s an opportunity to own a piece of Mumbai’s iconic coastline.
Source : Fulinspace.com
