Project Watch: Nahar Water Lily and White Lily, Mumbai

Real estate prices in Mumbai have risen after the sluggish growth in 2013. For investors and top builders, Mumbai is one of the most preferred real estate destinations. Residential properties in Mumbai are rapidly catering to the demands of consumers. Nahar Group, one of the respected real estate developers in Mumbai, brings to you Nahar Water Lily and White Lily in Powai.

PropTiger.com reviews the project.

The product

If you are looking for a spacious 2 BHK apartment, Nahar and Water Lily is the perfect option for you. The project offers 144 units of 2 BHK apartments with 4 different super built-up area: 994 sq ft, 1,036 sq ft, 1,087 sq ft and 1,105 sq ft. The flats here are equipped with doors, windows, and flooring of modern specifications. For example, the windows are made with anodized aluminium sliding and European green glass.

Let us compare the project with two other projects from the same builder in the same locality, Powai, namely Nahar Yvone and Nahar 8 Towers.  Nahar Yvone offers 2 BHK apartments in 4 different sizes: 1,183 sq ft, 1,444 sq ft , 1,454 sq ft, and 1,465 sq ft. 3 BHK apartments are in 2 different sizes: 1,561 sq ft and 1,917 sq ft. Nahar 8 Towers offers 2 BHK apartments in 4 different sizes: 1,049 sq ft, 1,120 sq ft, 1,444 sq ft, and 1,465 sq ft. 3 BHK apartments are in 5 different sizes: 1,430 sq ft, 1,502 sq ft, 1,917 sq ft, 2,350 sq ft and 2,550 sq ft respectively. Clearly, the other two projects offer better choices in 2 BHK apartments and 3 BHK apartments.

Amenities
The project is well-equipped with numerous amenities, some of which are:

Gymnasium
Swimming pool
Landscaped gardens
Indoor games
Multipurpose hall

Location

Nahar Water Lily and White Lily is in close proximity to Lal Bahadur Shastri Marg and Versova Ghatkopar metro link. The nearest landmark is Bombay Scottish School which is 0.6 Kms away from the project.

Some of the locational advantages of the area are:

1) Powai provides smooth connectivity to major localities of Mumbai. Jogheswari-Vikhroli link road (JVLR) passes through the area, providing it easier connectivity to western and eastern suburbs.
2) The Mumbai International Airport is at a distance of 5 km.
3) The nearest railway stations from Powai are Kanjurmarg and Vikhroli, located at a distance of 3.5 Kms.

The Builder

Nahar Group has emerged as one of the leading real estate developers in Mumbai under the leadership of its Chairman, Mr. Sukhraj Nahar . It established itself in Mumbai, Pune, Ahmedabad and parts of Rajasthan. With an experience of 42 years, the Nahar group has diversified its business in commercial and residential properties, healthcare , education and retail.

Infrastructure and Future Prospects

The demand for affordable homes have increased in Mumbai Metropolitan Region relative to other real estate hotspots in the country like Bangalore and Chennai which have seen a dip in annual sales and accumulation of inventory. Therefore, real estate developers are showing interest in developing localities which have cheaper land prices and can provide sound social infrastructure to residents.

From Powai, connectivity from localities like JVLR, LB road and eastern expressway to Chembur, Mulund, and Ghatkopar is good Several corporate giants such as Deliotte, CRISIL and Bayer have offices here, and Larsen & Turbo has its manufacturing plant here. Employees in these MNCs prefer to live here. Powai also houses famous educational institutions like the Indian Institute of Technology, National Institiute of Industrial Engineering, and Hiranandani Foundation School. Health care providers in the area are Ramani Health Care Centre, Wellness Forever, Ageless Medica, etc. Due to these advantages, property in Powai has witnessed a price appreciation of more than 30% in the past 24 months. Real estate analysts predict that prices will appreciate further.

Price Comparison

In Nahar Water Lily and White Lily, the average apartment price is Rs. 15,000 per sq ft. This is lower than the average price in the locality: Rs. 17,757 as of May 2015.  The average apartment price of the project is also lower than that of Nahar Yvone and Nahar 8 Towers: Rs. 16,000 per sq ft and Rs. 18,000 per sq ft respectively.  The price of the project in the past 24 months has appreciated by 20%. Therefore, Nahar Water Lily and White Lily is a good investment option, with potentially high returns.

PropTiger's Ratings

Overall Recommendation
The infrastructure in Powai is good, and it is connected to other localities of Mumbai. Property price indications indicate that investing in Powai might be a good decision. Nahar Water Lily and White Lily is a good option for both investors and end users because the apartment units are priced lower than the apartment units in the locality.

For detailed information about Nahar Water Lily and White Lily visit PropTiger.com.