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