Top 15 Projects That Are Bang For Your Buck In These Growth Corridors
In the next few years, many infrastructure projects that were proposed long ago in Mumbai, would materialise. Economists who study the city tend to agree that every thousand rupees spent on infrastructure in Mumbai would unlock land worth millions of rupees or much more. A PropTiger Data Labs report released in July 2015 suggests that when the city progresses, three new growth corridors are likely to emerge in Mumbai: Andheri, Mulund-Bhandup and -Ghatkopar.
Here are the top projects in these areas that promise great value to investors and home buyers alike:
Andheri: Andheri, the largest suburb in Mumbai, is a growing residential and commercial area. The area has one of the busiest rail transit stations in India and is also connected to another growth area, Ghatkopar, through the Versova-Andheri-Ghatkopar metro line. The price of apartments in Andheri are likely to grow because of the coastal road project and the integrated passenger water transport (IPWT) .
Top 5 residential projects in Andheri:
1. Elegante, Runwal
Runwal Elegante is a project of the Group in Andheri West. The project has 432 units of 2,3,4 and 5BHK apartments, with area ranging from 1,560 to 3,835 sq ft. Situated near Malad Creek and the BMC Road, Jogeshwari and Goregaon, the area has good amenities including connectivity to railways and roadways. Apart from amenities common to residential projects of a similar nature, the project has a crèche, amphitheater, spa, games room, and a tennis court. The weighted average base selling price of apartment units is Rs 21,375 per sq ft (Weighted average base selling price is the average price of apartment units weighted on the number of BHK units.) The project was launched in December 2011 and is expected to be completed by December 2016.
2. Trimula Height, Transcon Developers
Trimula Height, a project of Transcon Developers in Andheri West, has 200 units of 2BHK and 3BHK units at a weighted average base selling price of Rs 18,000 per sq ft. This 40 storey project on the Veera Desai Road with penthouses and modern amenities, is eco-friendly too. The project was launched in January 2014 and is expected to be completed by December 2018.
3. Codename Supernova, Lodha
Codename Supernova, a project of the Lodha Group, is located in Andheri East. The project has 150 units of 2 and 3BHK units with size ranging from 1,332 sq ft to 2,016 sq ft. Apart from other modern amenities, it also has Jacuzzi, pool side lounge, massage room, sauna and a party hall. The area is well connected to the domestic and international airports. The weighted average base selling price of apartment units is Rs 14,877 per sq ft.
4. Hillcrest, Hubtown
Hubtown Hillcrest is a residential project developed by Limited at Andheri East. Spread over 7082 sq m (1.75 acres) , it has 230 units of 2 and 3BHK apartments of area ranging from 1,100 sq ft - 1,750 sq ft. Hubtown Hillcrest also has a visually appealing, landscaped podium garden and all modern amenities. Expected to be completed in June 2016, the weighted average base selling price of apartment units is Rs 13, 340 per sq ft.
5. Park Royale, Pride
Pride Park Royale, a project in Andheri East, is spread over 28,328 sq m (seven acres) . It has 238 units of 2 and 3BHK apartments with areas ranging from 714 sq ft-914 sq ft. The weighted average base selling price of apartment units is Rs 10,000 per sq ft. It is expected to be launched in December 2017.
Mulund-Bhandup: Mulund-Bhandup is another emerging growth corridor. The price of real estate in Mulund-Bhandup would surge after the LBS Marg corridor in the Bus Rapid Transit System (MBRTS) is completed. It is a predominantly industrial area.
Top five projects in Mulund-Bhandup corridor:
1. Atmosphere, The Wadhwa
Atmosphere of the Wadhwa group is located in Mulund West. It has 384 units of 2 and 3BHK apartments with apartment sizes ranging between 630 sq ft to 998 sq ft. The project is spread over 52,609 sq mt (13 acres) . Apart from having all the basic amenities, the locality is also connected to bus and train transportation networks. The weighted average base selling price of apartment units is Rs 16,717 per sq ft.
2. Bellanza, Ariisto
Bellanza Ariisto offers luxury 2 and 3BHK apartments in Mulund West. Built in one of the largest townships of Mumbai, this project has three residential towers in three wings. There are 1,008 apartment units in the project. Its surroundings are natural, and the architectural structure of buildings is modern. The weighted average base selling price of apartment units is Rs 13, 250 per sq ft.
3. US Open, Nirmal Located in Mulund West, US Open of Nirmal Lifestyle is an ecologically sustainable, environment-friendly project that fits the needs of a modern city resident. The social infrastructure in the area is good and the apartment units have all luxurious amenities. There are 960 units of 2, 3, 4, 5 and 6BHK apartments of size ranging from 1,035 sq ft-5,607 sq ft. The weighted average base selling price of apartment units is Rs 12, 300 per sq ft.
4. Atlantis, Kamla Kamla Atlantis, a premium high rise luxury project, is located in Mulund West. The project has 344 apartment units with sizes ranging from 1,250 sq ft to 1,800 sq ft. Parks, bus station, railway station and other amenities are nearby. The weighted average base selling price of apartment units is Rs 10, 500 per sq ft.
5. The Mystery, Aaditya Realtors
The Mystery from Aaditya Realtors is located in Kanjur Marg East. It offers 1,368 units of 1 and 2BHK apartments. The social infrastructure in the area is decent and the project is connected to bus and railway networks. The weighted average base selling price of apartment units is Rs 7,950 per sq ft.
-Ghatkopar: The -Ghatkopar corridor will soon be a much sought after real estate hub because of the -Wadala monorail and Santacruz- Link road coming up in this area. Land in -Ghatkopar is among the hottest in eastern suburbs.
Top five residential real estate projects in this corridor:
1. Promenade, The Wadhwa
Promenade is a project of the Wadhwa group in Ghatkopar West. It offers 440 units of 2BHK apartments and will be completed in March 2017. It has many luxurious amenities including a club house, gym, squash court, swimming pools, and crèche. The weighted average base selling price of apartment units is Rs 29,506 per sq ft.
2. Elanza, ACME
Elanza ACME, another residential project in Ghatkopar West, offers 2BHK and 3BHK units. The designs of the apartment units in Alanza Acme are exquisite. It is a premium residential project in which the weighted average base selling price of apartment units is Rs 17,000 per sq ft.
3. Heights, Ashapura Housing
Heights is a residential project of Ashapura housing in Chembur, which offers 162 units of 2BHK apartments. The apartment sizes range from 1,170 sq ft to 1,300 sq ft. The weighted average base selling price of apartment units is Rs 15,000 per sq ft. The project will be completed in December 2015.
4. Eastern Heights, Satra
Eastern Heights is a project of Satra in Chembur. It has 480 units of 1 and 2BHK apartments, with sizes ranging from 870 sq ft- 1,336 sq ft. It is a residential project with landscaped greenery designed to meet all your functional needs. It is expected to be completed in December 2017. The weighted average base selling price of apartment units is Rs 10,999 per sq ft.
5. Flint Heights, Flintstone Group
Flint Heights of Flintstone group is a relatively affordable residential project in Ghatkopar West, Mumbai. It has 108 units of 1 and 2BHK apartments. It is expected to be launched in August 2018. Flint Heights has apartments available at a price range of Rs 57.3 and 96.7 lakh. Build amidst landscaped gardens, Flint heights has gymnasium, swimming pool, club house and other modern amenities. The weighted average base selling price of apartment units is Rs 9,900 per sq ft.
Buy a home in any of these growth corridors for great returns on your investment.