Corporate Hub Western Corridors of the City
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HINDUSTAN TIMES, MUMBAI, 02 htestates SATURDAY JUNE 04, 2016 CHANGING CITYSCAPES OSHIWARA CONNECTIVITY GOREGAON Owing to its location in the West city centre, Oshiwara enjoys ern seamless connectivity to all Malad Exp builderspeak Creek parts of the city. It connects OSHIWARA re ss “Oshiwara is expected to to Powai and the central H i railway line via the new g witness a price appreciation of 25% to h w Jogeshwari-Vikhroli Link a 30% in the near future, thus becoming y the next Bandra-Kurla Complex (BKC) Road (JVLR) flyover. The JOGESHWARI of Mumbai. Western Express Highway Shivaji and SV Road provide easy Rock Beach Nagar KAMAL KHETAN, CMD, Sunteck Realty access to the eastern and Corporate hub western corridors of the city. BUSINESS CENTRE New office spaces, apartment ANDHERI With the inauguration of the PHOTOS: PRAFUL GANGURDE new Oshiwara flyover, the complexes and seamless connectivity make Oshiwara Iskon Temple travel time from east to west will be reduced significantly and Lokhandwala will be a high-end residential and commercial area approachable within a few minutes. In addition, the Andheri railway station ensures easy accessibility to not only the western and eastern suburbs but also the harbour line. In a nutshell, the proximity to airports, railway stations, JVLR and Western Express Highway along with the upcoming Metro rail project will add to the sheen of the locality. ` CAPITAL RATE The slowdown in sales activity due to exorbitant properties has forced owners to reduce the ‘ask’ rates across major localities of Mumbai. Oshiwara is also riding on the same wave and has witnessed prices dipping by 10% to 15% in the past one year. Currently, residential properties in the locality are available at an average price of Rs 13,250 per sq ft. Some of the premium projects are priced as high as Rs 15,000 to Rs 20,000 per sq ft. With the development of the Oshiwara District Centre, the locality is estate growth in the locality touted to be one of the most is expected to receive a huge profitable investment htestates thrust. destinations in the future. CLASSIFIEDS “Infrastructure Social amenities The locality has a good mix of social spaces such as gardens and development in ODC is Oshiwara is swarming with towering offi ce complexes (top). definitely set to transform social infrastructure in the Oshiwara into a CBD of form of educational institu- Mumbai. It will not only ocated between tions, healthcare centres and CAPITAL VALUE - TRENDS INR PER SQUARE FEET FOR OSHIWARA ensure excellent appreciation Jogeshwari and entertainment avenues. Its for the properties in this location, but will also become Goregaon in the strategic location between 16000 a self-sustained locality in western suburbs Jogeshwari and Goregaon itself. Oshiwara is expected to of Mumbai, allows it to offer a rich life- witness a price appreciation of LOshiwara is a high-end resi- style to its residents. 15000 25% to 30% in the near future, dential and commercial local- Some of the popular schools thus becoming the next ity. Over a decade ago, it was here are JBCN International Bandra Kurla Complex (BKC) considered an industrial area School, Raigad Military 14000 of Mumbai,” says Kamal and was home to the entertain- School, HVPS International Khetan, CMD, Sunteck Realty. ment industry. However, it has School and Marble Arch 13000 gradually transformed into School, among others. For Jan-Mar Apr-June Jul-Sep Oct-Dec Jan-Mar a corporate hub with several higher studies, there are col- 2015 2015 2015 2015 2016 small businesses setting up leges such as Pushpakant their office spaces in the area. Mhatre College of Commerce, RENTAL RATE Retail activity too has picked Indian Aviation Academy and several shopping complexes commutation and reduce the in Oshiwara owing to its prox- H K Institute of Management and malls in its vicinity. Some travel time considerably for With the several commercial imity to the huge catchment Studies and Research. of the malls here are Mega those dependent on public office spaces and media of Andheri Lokhandwala For their healthcare needs, mall, City Centre Mall and transport. There will also houses located nearby, Complex, Andheri (West) and residents can easily access Hub Mall. There are multiple be one more flyover opening Oshiwara witnesses healthy Goregaon (East). hospitals such as Orbit Eye high-end restaurants located shortly over the Western rail- demand for properties on The neighbourhood of Hospital, City Hospital, in the locality. Moreover, the way, connecting the Western rent. Professionals at mid- Oshiwara has emerged as one Nayar Hospital, Oshiwara Versova beach is also hardly Express Highway and SV level income groups, who of the key commercial hubs of Municipal Maternity Home, five kilometres away. Road. This will offer better cannot afford buying a Mumbai with corporate parks Shivam Netra Eye Hospital connectivity for the resi- house but are willing to such as Nirlon Knowledge and Saraogi Hospital, Infrastructure dents,” says Kamal Khetan, shift to western suburbs to Park, Nesco, Infinity IT among others. The locality enjoys outstand- CMD, Sunteck Realty. reduce their travel time to Park and Mindspace located ing physical and social infra- Additionally, incentives work and to upgrade their nearby. Now, with the Entertainment structure. In addition to the offered by the government to lifestyles, tend to be keen Oshiwara District Centre Oshiwara, by virtue of being existing seamless road con- attract retail and social on renting apartments in (ODC) poised to become the located around developed nectivity, the opening of the infrastructure in the the area. Currently, the Central Business District residential localities of the JVLR extension flyover has Oshiwara District Centre will average rental values in (CBD) of Mumbai, the real- western suburbs, boasts of further boosted Oshiwara’s also result in development of Oshiwara range between approach to nearby western malls, shopping complexes Rs 50,000 to Rs 55,000 per month for a 2BHK. suburban localities. “The and entertainment avenues in upcoming metro rail will ease the locality. PROJECT TRACKER CURRENT RESIDENTIAL PROJECTS IN OSHIWARA Name Developer Type (BHK) Avg. Size (Sq.ft.) Price (`) Date of possession L’Amor Ahuja Constructions and 777-1970 Rs 1.11 to 2.36 December 2-3 BHK Apartments BBJ Worldwide sq ft Crore 2016 Rs 1.52 to 1.64 Saanvi Heights Adinath Enterprise 2 BHK 1089 sq ft March 2017 Crore Legend Siroya 2, 3, 4, 8 1700-7000 Rs 2.46 to 5.07 December Legend Siroya Realtors Worldin BHK sq ft Crore 2017 Ionic Fountain Ionic Realty 3 BHK 1265 sq ft - March 2018 Square 695-1280 Rs 1.65 to 1.66 December BBJ Verona BBJ Worldwide 2 BHK sq ft Crore 2018 Makwana The Lion 702-1026 Rs 56.09 to 81.98 December The Makwana Group 1-2 BHK Park sq ft Lakh 2020 ACCOMMODATION PROPERTY AVAILABLE PROPERTY RATES IN MUMBAI COMMERCIAL WESTERN SUBURBS PREMISES SOUTH MUMBAI Lower Parel 23,300 to 39,500 Malad East 9,500 to 17,200 ANDHERI Location Rate (per sq ft*) Prabhadevi 31,000 to 43,500 Kandivali West 11,800 to 18,100 Colaba* 33,500 to 51,500 Shivaji Park 25,500 to 41,500 Kandivali East 10,000 to 15,000 3BHKtotal built up area 1620 sq ft. Cuffe Parade 54,300 to 79,600 WESTERN SUBURBS Borivali West 12,500 to 22,500 At flat no. 93/94 Manju Tower CHS Ltd. RNA complex, Swami Samarth Nariman Point 60,000 to 1.2L Bandra West 33,500 to 51,600 Borivali East 10,500 to 18,500 Nagar X Rd no 3. Lokhandwala com- plex, Andheri(w) Mumbai. Inspection Churchgate* 48,400 to 65,500 Bandra East 22,000 to 34,000 Mira Road East 6,900 to 8,100 strictly on 6/6/16 between 11.00 to 17.00 hrs. Contact : 7506361958 / Marine Drive* 46,500 to 69,000 Khar East 28,600 to 47,500 Virar 4,850 to 7,500 9324541883 Malabar Hills 58,700 to 82,500 Khar West 32,000 to 51,500 Naigon East 4,000 to 7,000 Walkeshwar 45,000 to 81,500 Santacruz East 15,800 to 30,000 Vasai 4,800 to 7,700 Nepeansea Road 49,500 to 78,000 Santacruz West 25,000 to 44,500 CENTRAL SUBURBS FOR Peddar Road 38,500 to 58,700 Vile Parle East 25,000 to 42,000 Location Rate (per sq ft*) Kemps Corner 42,300 to 65,500 Vile Parle West 24,400 to 35,600 Byculla 18,600 to 49,700 ADVERTISEMENT Warden Road 41,000 to 79,500 Andheri West 15,000 to 21,000 Wadala 17,200 to 26,800 Altamount Road 54,600 to 79,500 Andheri East 14,500 to 24,000 Dadar 22,900 to 33,000 Call Bombay Central 25,400 to 53,600 Goregoan East 13,200 to 21,900 Kings Circle 19,500 to 31,400 Mahalaxmi 26,500 to 43,800 Goregoan West 12,800 to 19,600 Sion 14,800 to 34,500 Satyam - 9823532897 Worli 25,500 to 44,500 Malad West 12,500 to 23,000 Kurla 11,500 to 18,300 Source: Commonfloor.com Ravikant - 9029004748 1) These are asking rates for properties on primary and secondary sale, and not transacted rates. 2) The rates may vary depending on market conditions Pranshu - 8976066123 3) Range of values vary depending on the building, location, ammenities provided, floor, view from the apartment and age of the building * Pagri/old tenancy deals are dominant in these micro markets.