In 2009, thanks to the excitement generated by infrastructure announcements in Navi Mumbai, big Real Estate brands from Mumbai announced the launch of mega township projects. Prominent among the projects which were launched were the following:
1. Hiranandani Fortune City – a 650 acre township which had the ambition of surpassing the Powai and Thane townships. This project got off to a great start, with flats being sold as soon as they were released onto the market. As is the case with projects with longer completion dates, most of the initial interest in this project came from investors who bought flats in bulk. These investors then sell the flats from time to time, getting good appreciation for their investment.
There have been delays in completing this project. However, things are back on track with opportunities for new investors to buy flats at excellent rates.
At Realtygyan, we have invested in this project ourselves at the initial stages and our own flats are available for sale. This project is part of an SEZ ( Special Economic Zone). The commercial
Buildings will be occupied by some of the largest corporates in India, so employees of these corporates will look to buy / lease apartments in the township. There is therefore a ready market for buyers/ sellers giving rise to the possibility of a steady appreciation in rates and rentals.
For eg : We have the following apartments for resale :
- 2 BHK – 1405 sq ft for Rs 93 lakhs – savings of Rs 15 Lakhs for the buyer
- 2 BHK – 1492 sq ft for Rs 1.08 Crores-saings of Rs 17 Lakhs for the buyer
- 3 BHK – 2210 sq ft for Rs 1.68 Crores-Savings of Rs 20 Lakhs for the buyer
- Other apartments in the rest of the buildings are also available at excellent rates
We are a Group of Investors who have purchased these apartments at excellent rates and do not mind selling it at a 10%-15% discount. For eg.: an investor who has bought it at Rs 3200/- per sq ft is more willing to sell at Rs 5400/- per sq ft ( Builder price Rs 6000) than another investor who has picked it up at Rs 4500/- per sq ft
2. Kalpataru Riverside is a 25 acre township which has seen the completion of Phase I. Rates have reached a high of Rs 8000/- per sq ft , which is a significant jump from the rates at launch of Rs 3600/- per sq ft. We have a ready apartment for resale at Rs 89 lakhs ( 1082 sq ft)
3. India Bulls Greens and India Bulls Park is another project which started in 2009 at rates of Rs 2200/- per sq ft. The rates in the completed buildings are at Rs 6000/- per sq ft. We have a significant inventory of flats here of almost 70 apartments which can be offered at discounts to the current market price. These apartments are almost ready, and the Developer has very few apartments available in Phase I. For your information, we are marketing the Phase II of this project which is called India Bulls Park. Rates and features can be shared over Email.
Expected infrastructure developments which is good news for Panvel, Navi Mumbai is
1. The Airport
2. Trans Harbour Link
3. Metro connectivity
4. Enhanced Rail Connectivity
5. Sion Panvel Six Lane Highway – which has already been completed
We are happy to inform you that we have started Online Registration of Leave and Licence agreements on behalf of Government of Maharashtra, Mumbai since 1st week of November, 2015.
Government provide standard format of Leave & Licenses Agreement (Format attached herein). Required aadhar card & Pan card Compulsory for registration from both party & from witness. If there is company then aadhar card & Pan card required from signing person who is sign on behalf of company. If there is power of attorney then required aadhar card & Pan card from POA holder . But aadhar card & Pan card is must for get this service of e-registration. We are also make the payment of stamp duty & registration fees online from grass system. If you want to registered any leave & license agreement in Mumbai, Mumbai suburban, Thane & Navi Mumbai district then You are requested to contact us for Leave and License agreement.
We are also provide home/office visit for your reputed client.
Satyawan R Nagvekar
ASP License No. 18 / 2015
Mobile No.: +91 9619048840
Times of India
The techno-economic feasibility study for the Chhatrapati Shivaji Terminus-Panvel high-speed corridor has pegged the project’s cost at Rs 11,000 crore. It has recommended 9-car services for the corridor and a travel time of 45 minutes by 2019, as against the present 77 minutes.
Rail India Technical and Economic Services Limited (RITES) presented an interim report to the Mumbai Rail Vikas Corporation (MRVC), which will execute the project in association with the state government through a publicprivate partnership. The corridor will establish rail connectivity between South Mumbai and the Navi Mumbai international airport.
The consultant has recommended halts at 10 destinations, including Navi Mumbai airport. A senior MRVC official said, “It will halt at select stations on the Harbour line and can attain a maximum speed of 110 kmph to ensure faster transportation of commuters. Halts have been identified according to the importance of stations or where the interchange facility is available through the rail, metro or mono networks.”
The frequency of train services is estimated at 4.5-5 minutes. The official said, “It will ensure at least 14 services per hour. Due to the continuous automatic train control (CATC), headway can be improved without compromising on safety.”
The system is expected to have 21,000 peak hour-peak direction (PHPD) trips by 2019 and 39,000 by 2031. The official said, “We expect a 30% shift from the suburban line and 20% shift from road traffic once operations begin on the corridor.”
The corridor will run on broad gauge, with each coach having a capacity of around 350 passengers. Unlike the seat position in existing rakes, coaches for the proposed corridor will have a longitudinal design, similar to the Delhi Metro.
The new terminal for the service will come towards the east of CST.
The official said, “The elevated route will follow P D’Mello Road/Barrister Nath Pai Marg and will enter railway land just short of Reay Road between the existing track and under-construction eastern freeway. It will be at an elevated level up to Mankhurd, from where it will take the ground level up to Panvel and the Navi Mumbai international airport.”
RITES also identified spots where station buildings can come up. The official said, “The alignment will be more or less final, barring minor changes in the final report that will be submitted a few months later. The project’s financial model will soon be submitted too.”
The CST-Panvel corridor alignment will skirt Navi Mumbai airport.
This video showcases the beauty and pace of development of the upcoming Hiranandani Palace Gardens project at Panvel, Navi Mumbai!
- Direct economic benefits: Travel Time savings, vehicle cost savings, transit option value, environmental benefits
- increase in property values
- land use changes,
- benefits of improved access to jobs & critical locations, benefits to employment wage & productivity
- Impacts in the following cases: Tyne & Wear Metro, Newcastle, U.K, Manchester Metro link, London Docklands Light Railway, Helsinki Metro, Finland, Vienna S-Bahn, Austria,Nantes, France
- House prices increased 2% within 200 meters of metro stations.
- Retail activity or office developments in proximity to stations does not appear to be directly linked to LRT.
- Development of 20 500 sq.m of offices and services in City centre.
- 50% of capital cost was recaptured through overall office development and job creation.
- In the best locations, dwelling prices raised by 11%.
- Price of property located within walking distance of the nearest railway or metro station increased 7,5% over other locations.
- Impact was most significant at a distance of 500-750 m., as opposed to adjacent locations, where values dropped. (Finland)
- Districts located along S-Bahn corridor have witnessed increases in number of new housing units of 18, 7% over 10 yr. period, as opposed to 4% and 10% in more remote locations.
- Distance from Metro: Hedonic Analysis – The variables which are having a significant impact on land value are-Distance of land from Metro Line, Distance of land from CP, Location of area, Income group.
- Among the variables ‘distance from the metro’ alone explains the 22% of the variation in the land value. Thus, the availability and proximity to metro, plays a major role in determining the impact of Metro on real estate prices.
- Properties within 500m of the metro line have experienced a higher land value change as compared to properties beyond 500m. Land value decreases as one moves away from the metro line.
- Within 500 mtrs of Metro Line, change in land value is higher and is more or less same for both the residential and commercial properties.
- Between 500m 1km change in land value is more for 15 to 1km, commercial properties
- Land use Effect
- The impact of metro on residential land value is less as compared to the commercial properties.
- For Residential area, on an average land value within 500m of metro line increased by11.3%. For Commercial area, on an average land value within 500m of metro line increased by 18.1%.
- Threshold limit for the residential properties is approximately up to 500m from metro line, whereas limit increases up to approximately 800m for commercial properties.
- Increase in land value is highly dependent on the income of the people occupying the area / These are also the areas which are planned
- Number of years of Operation of Metro
- Land Value changes are more consistent and higher after the operation of metro as compared to the construction and planning stage. (land value increases by 2- 4% every year.)
- Impacts on urban structure is significant. Integrated landuse transport planning M t – Metro contribution to land value rise is about 22%. A part value is captured in property taxes. Re-appropriation is difficult as they are 2 different agencies.
- Value capture is possible only if linked to additional FSI/TDR
- To reap benefits of better accessibility, redevelopment schemes for nonplanned/slum areas
- Right time to capture value – First Create Value and then Capture