Project Of The Week: Mahindra Life Spaces Ashvita, Hyderabad
Hyderabad was recently named as Cyberabad owing to the prominence of the IT industry here. The city that now serves as the capital city of both Telangana and Andhra Pradesh, has a booming real estate market. Real estate in Hyderabad has seen tremendous development due to well-developed roads and social infrastructure in the city. These, along with high demand from both end users and investors, facilitates participation of prestigious real estate developers to launch new residential projects in Hyderabad.
Mahindra Life Spaces has launched its new residential project 'Ashvita' in the topnotch locality of Kukatpally in Hyderabad. Will the project meet the expectations of buyers? PropTiger.com reviews the project.
The Product
Mahindra Lifespaces is one of the renowned real estate developers in Hyderabad. Its latest project, Ashvita, in Kukatpally is spread over 9 acres and offers 664 units of 2BHK, 3BHK and 4BHK apartments.
The 2BHK apartments come in two sizes of 1,218 sq. ft. and 1,262 sq. ft., 3 BHK apartments in sizes 1,567 sq. ft., 1,636 sq. ft., 1,847 sq. ft. and 2,040 sq. ft. and 4BHK apartments in 2,035 sq. ft., 2,070 sq. ft., and 2,082 sq. ft. respectively.
Let us compare Mahindra Lifespaces Ashvita with Lodha Meridian, both located in Kukatpally. Lodha Meridian is built in an area of 4 acres and offers 696 units of 2BHK and 3BHK apartments. The super built-up area for 2BHK apartments in the project comprises of two sizes : 1,278 sq. ft. and 1,476 sq. ft.. The 3BHK apartments here come in sizes of 1,854 sq. ft. and 2,259 sq. ft. This means that Ashvita has 73.77 flats per acre, whereas Lodha Meridian has 174 flats per acre. Therefore, Ashvita with lower density offers wider area for public use. Amenities
The project a range of amenities to facilitate higher living standards such as:
Location
Mahindra Lifespaces Ashvita, located in Kukatpally, is 1.9 km from the nearest landmark, MMTS station. Some of the other locational advantages of the project are : 1) Hitex Heliport is located at a distance of 4.1 km from Ashvita. 2) Hafeezpat Railway station is 6.6 km from the project location and connects to all major landmarks of the city. 3) Rajiv Gandhi International Airport is located at a distance of 48.7 km that offers a good range of international flights from the residential project.
The Builder
Mahindra Lifespaces is the real estate wing of the Mahindra Group . It is one of the first companies to receive Platinum-rated green home certification from Indian Green Building Council (IGBC) . Mahindra Lifespaces works on the philosophy of Sustainable Urbanization and has made a pan-India presence in the last 42 years. Key projects of the group include 'Mahindra World City' in Chennai and Jaipur.
Infrastructure and Future prospects
Mercer's Quality of Living Report 2015 ranks Hyderabad as the best city in India and on 138th position globally. This is due to better air quality in the city as against Delhi and Mumbai, presence of good educational institutions and most importantly, public services.
Kukatpally is a major residential and commercial locality situated in the northwest of Hyderabad. It is advantageously located and facilitates good connectivity via NH 9 and Vijaywada Highway. Kukatpally is also in close proximity with HITECH city. The presence of companies such as Oracle , Microsoft, GE Capital, Google and Dell in the neighborhood makes it an appropriate choice of working professionals. Kukatpally is 7.4 km from NH9 and 13.6 km from Begumpet International Airport via NH9.
Kukatpally is a major educational hub with a number of reputed educational institutions such as the JawaharLal Nehru Technological University, NRI Junior College, Olympus IIT College, et al. Healthcare providers include Advanced Endocrine & Diabetes Hospital , KPHB Multi Speciality Hospital, and Preeti Urology & Kidney Hospital are also located in the area. Kukatpally also caters to everyone's shopping needs with malls such as the South India Shopping Mall, NSL Centrum Mall, etc. Property rates in Kukatpally have risen by 31 % in the last six months.
Price Comparison
Mahindra Lifespaces Ashvita is priced at Rs. 4,400 per sq. ft., which is higher than the average price of the locality (Rs. 3,839) , as estimated in May 2015. Ashvita, however, is priced lower than Lodha Meridian, which has an average apartment price of Rs. 4,797 per sq. ft. Also, in last 24 months, the price of Lodha Meridian has appreciated by 14.2%, whereas Ashvita has witnessed a price appreciation of 4.8% in the last two years.
PropTiger's Rating
Parameters | Rating |
Builder | Good |
Project | Good |
Price | Good |
Locality | Very Good |
Overall Recommendation
Hyderabad as recognized by global surveys offers you good quality of living, probably the best among Indian cities. Kukatpally is one of the most prime localities of Hyderabad. If you are looking for an affordable apartment in proximity to your workplace, Mahindra Lifespaces Ashvita should be your first choice.
For more details regarding the project, see PropInsight, PropTiger.com's detailed report on the project, on PropTiger.com.