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Luxury Pushes North HINDUSTAN TIMES, MUMBAI, SATURDAY APRIL 07, 2012 htestates03 LUXURY PUSHES NORTH The skylines of towns like Kalyan and Dombivli are becoming snazzier as premium builders, such as the Tatas and Lodha Group, set up luxury housing projects there. But before you invest in a flat, check out the infrastructure Sparsh Sharma urbs, and ■ [email protected] Ambernath and Badlapur in the central ar-flung suburbs suburbs are witnessing like Dombivli, construction activity. Kalyan, Kharghar, Panvel and others The money factor are now being The main reason why home Fdeveloped by some of the seekers consider living in country’s top-notch builders. far-flung suburbs is the While some of the upcom- money factor. “As Mumbai ing projects are low-cost becomes more expensive, housing, there are ‘premium’ people have to move to housing projects coming up peripheral areas. The rate in as well. Although these the city ranges from R15,000 properties cost less to R25,000 per square foot. and other amenities compared to flats of the Even Thane is considered a need to be devel- same size and by the same mega suburb now with rates oped,” he adds. builders in the main city, ranging from R10,000 to The biggest advantage they are still considered R15,000 psf. Projects on of living in these areas is luxury projects in these Ghodbunder Road are that one can own the house. areas, and most of them priced between R8,000 and Ram Makhecha, director of boast modern amenities. R10,000, while the rate in Vakratunda Group, says, Some of these projects CBD Belapur is between “With nuclear families and include Amantra by Tata R7,000 and R8,000,” says people in their early 30s Housing on the Mumbai- Bharat Malik, a realtor. wanting to buy their own Nashik highway, Riverside “Fortunately, Shilphata houses, housing in the main by Nirmal Lifestyle at road is set to become a city has become unafford- Ambivli, (both close to major residential zone in a able. The best option for An ariel view of Amantra, an upcoming project by Tata Housing on the national Kalyan) and Casa Rio, a few years with the Pal these families is to opt for highway near Kalyan. project by the Lodha Group Peugeot land parcel having townships on the outskirts between Dombivli and Navi been purchased by a big with leisure facilities in their Mumbai on the Shilphata group. The highway will also vicinity. With increased allo- The luxury factor profile. suburban business districts CEO of Tata Housing, says, client profile is changing highway. see a lot of other projects cations for construction of Until recently, projects in “Suburbs like Kalyan and juxtaposed with infrastruc- “Tata Housing launched even in outskirts, we Several premium projects ranging between R3,500 and highways and mono and the distant suburbs were Dombivli have witnessed ture development. These India’s first branded value have positioned Amantra are coming up on the R4,000 psf. A big project is metro rails, commuting is based on affordability for over 3.8% growth in popu- locations have to be viewed housing project at a price as an exclusive luxury periphery of Thane city also coming up near set to become easier. the low and middle-income lation from 1991 to 2001 and from a ‘destination devel- of R4 lakh, as part of a residential township, too—especially on the Mumbra. Proximity to rail- “Many employment home buyer, but this is 45% growth in the decade opment’ perspective, and 60-acre integrated green which is spread over Mumbai-Nashik highway way station is not the crite- opportunities are also gradually changing. prior to the 2001 census. A buyers in these areas township at Boisar and 22 acres with 14, 24, 29 and Ghodbunder Road. Even ria for buyers in these proj- becoming available in these Samujjwal Ghosh, senior significant middle class should be presented with 1RK and 1BHK apartments and 34 storey towers areas like Kamothe and ects because the majority areas coupled with develop- vice president (marketing), population migrated to the entire gamut of real priced between R5.79 lakh (the tallest residential Ulwe in Navi Mumbai, owns vehicles. However, ment of malls, multiplexes, Lodha Group, sheds light Dombivli due to easy con- estate offerings.” and R7.82 lakh at Vasind. structures to be built Boisar in the western sub- good infrastructure, schools branded retail outlets.” on the changing customer nectivity and proximity to Brotin Banerjee, MD and “However, now that the in Kalyan).” expertspeak buyerspeak THINGS TO KEEP IN MIND SUBHASH RANA, 1 2 3 currently staying in a rented place at Malad PROPER PLANNING NEED FOR HOLISTIC INCLUSION INFRASTRUCTURE I have been looking to make Upscale projects are Parthajeet Sarma, director of a DEVELOPMENT an investment in a house obviously not the sole land development management According to Manoj John, near Mumbai and after determinant in company, says, “Projects in the vice president, corporate SUJIT ASHOK RAJ BROTIN doing thorough market making a locality outer suburbs are emerging on their planning and strategy, RNA research and speaking to livable. Architecht own and not as part of any holistic Corp, self-sufficient civic PARAB, CHAJJER, SHARMA, BANERJEE, some real estate experts, Architect CMD of Arihant president, Majestic MD and CEO of Tata Avinash Gupta says, master plan for the entire Mumbai and social infrastructure I have finalised a home at “Builders need to metropolitan region. For instance, and efficient connectivity If these far-flung areas Superstructures Ltd MRSS, a market Housing Amantra as it is located on research firm understand that the at present, the Hiranandani project are some issues projects in are developed with an Today, periphery areas con- Limited land availability and a national highway and is term ‘development’ at Powai finds itself in a court case far-flung suburbs need to tribute to 85% of the total Transportation infrastructure weak urban planning have close to both Thane and even ratio of residential caters to the masses, that decries the developer for not address. Architect Sujit and commercial zones market share of Mumbai’s seems to be promising and so triggered the need to decen- Kalyan. Premium amenities and haphazard delivering on the promised low cost Parab says, “Sustainable and central business real estate. It has given a the propinquity aspect also tralise the modern, urban like an elevated jogging districts, this would tremendous opportunity to fuels the formations of these landscape of Mumbai. track on the 14th floor and growth is only going housing units. Developments in development depends on reduce load on the main many local and small time mini-towns. Another fact is Development of satellite an infinity pool in the to add to the existing these upcoming areas thus need to infrastructure like 24x7 city. builders while big real estate that with social media keep- townships in Kalyan, Boisar clubhouse are sure to give chaos. So proper be truly inclusive to be able to supply of water and firms have changed the per- ing everybody connected and Vasind is shifting the me a good work-life balance planning is a must in contribute to the larger social need electricity, a good drainage ception of these areas. people do not mind moving. growth corridor. and provide my family with the outskirts.” of the city.” system and green zones.” a comfortable lifestyle. The next best deal Continued from page 1 sales. These portals make use of the power of collective LIVE IN RENTED FLATS bargaining by bringing home In the current scenario, a buyers together to buy flats well-furnished 1-BHK flat in at a lower price. “In order to Borivli will cost approxi- get rid of their unsold mately R70 lakh whereas a inventory and get hold of a rented apartment in the more stable cash flow, same locality will be avail- developers are willing to able for R18K per month. “It negotiate with buyers not is advisable to wait and accu- only on the property prices mulate capital till the market but also other factors such corrects itself instead of tak- amenities, lock-in period ing a plunge that heavily etc,” says Vikhyat Srivastava, dents your pocket,” says co-founder of the group- Chetan Narain, president at buying website groffr.com. Narains Corp. The renting versus buying OPT FOR SMALLER UNITS decision also depends on Modify your demands to suit factors such as location, your budget by opting for a rental value and your budget. smaller space in an upcom- If the location you have ing location. “These days, chosen yields low rentals, builders are focusing on then it will be cheaper to developing smaller units rent a place there. But if the because it fits the budget of area demands a high rent the mid-income buyer. Major monthly, you should buy a builders like Hiranandani flat there. and Lodha recently launched affordable 1-BHK units in Location Cost of Rental Thane,” says Sandeep Reddy, 1BHK value flat /month a real estate analyst. Thakur Village, UPCOMING PROJECTS Kandivli (east) R72 lakh R18,000 PROJECT: GLOBAL CITY Marol, DEVELOPER: Rustomjee Group Andheri (east) R80 lakh R25,000 and Evershine Group Bandra (west) R1.45 cr R35,000 LOCATION: Virar (west) Peddar Road, PROJECT: CASA RIO GOLD Worli R3.75 cr R70,000 DEVELOPER: Lodha LOCATION: Dombivli BUY TOGETHER, SAVE TOGETHER PROJECT: AMANTRA DEVELOPER: Tata Housing Online portals offering LOCATION: Kalyan group-buying deals can help home seekers cut costs PROJECT: TANVI EMINENCE because many builders are DEVELOPER: Tanvi Group offering discounts on bulk LOCATION: Mira Road.
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