Goregaon: And Ideal Destination- Past, Present, and Future Developments

A location which has a blend of both commercial and residential will eventually be an ideal destination. Goregaon – is that part of Mumbai Suburbs, which over the years has developed immensely in both the ways. With large space constraint & sky-rocketing property prices, commercial hub of Mumbai has developed significantly over the last 2-3 decades. In the past, South Mumbai was considered as the commercial hub on the Western line of Mumbai; however recently areas like Lower Parel, Kandivali, Bandra Kurla Complex, Goregaon & Malad have evolved radically to be among the leading commercial destination. The ‘Mindspace area’ which has a dual boundary touching Goregaon & Malad is one of the fastest commercial developments in Mumbai. Further NESCO which falls right on the Western Express Highway (WES) in Goregaon is an ideal destination of various exhibitions/fairs in Mumbai. Major commercial development is followed by residential projects, thereby improving the quality of living. The current work in progress of two major social infrastructure projects will make a comfort stay in Goregaon.

Goregaon Railway Station

About Goregaon

The development of Goregaon over the last 2-3 decades has been mainly attributable to plenty of open spaces. The development has been across segments namely infrastructure, schools, colleges, restaurants and markets. The population of the locality is also a mix of all the religions. Resembling to most part of Mumbai – Goregaon area is also broadly divided into East & West zone by the local railway station. Some of the prominent commercial localities in Goregaon include – NESCO (an ideal exhibition/fair centre in Mumbai), Film City (integrated film studio), the Aarey Milk Colony (AMC), The Mindspace area and the renowned Inorbit Mall (which shares the border to Goregaon). On the residential side, prominent areas like Jawahar Nagar, Unnat Nagar, Motilal Nagar, Bangur Nagar, Dindoshi, Gokuldham, Yashodham, Oberoi Garden City, Saibaba Complex are among others. The Goregaon area has some of the prominent names of School/Colleges/restaurants/malls which are shown below:

Category Name Area
School Gokuldham High School Dindoshi
School Lakshdham High School Gokuldham
School Obeori International School Near Oberoi Mall
School St John’s Universal School S.V. Road
School / College St. Thomas High School & College Near Railway Station
College Vivek College Siddharth Nagar
College Indira Gandhi Institute of Development Research Film City
College Whistling Woods International Institute Film City
Malls Obeori Mall Western Express Highway
Malls Central Mall New Link Road
Restaurants Cooper Chimney Oberoi Mall
Restaurants Sai Kripa Veg Near Railway Station
Restaurants Westin Mumbai Garden City Western Express Highway
Restaurants Maharaja Bhog Oberoi Mall
Restaurants Udta Punjab Link Road

 

Goregaon – NESCO – Entrance
Goregaon – Oberoi Mall

The Aarey Milk Colony (AMC) is spread over 16 kms (4,000 acres) and have around 16,000 cattle’s which are reared on 1287 hectares of land and 32 cattle farms. The AMC also has a tourist attraction/picnic spot named Chhota Kashmir. It also has a lake with visitors often enjoy boating in AMC.

Up-coming projects might change the locality’s landscape

Goregaon has been more of a commercial place than a residential in the past. However the next phase of development is likely to be in terms of redevelopment of older areas (societies) which will gradually take place in due course. Apart from the re-development activity, the new social infrastructure development and high commercial activity has prompted with number of upcoming projects which are coming up in the Goregaon area, of which some are discussed below:

Project Name Developer Flat type Possession* Area – Goregaon
Sunteck City Avenue II Sunteck Realty 2 / 3 BHK 2019 West
Ekta Tripolis Ekta World 2 / 3 BHK 2019 West
Kalpataru Allura Kalpataru Developers 2 /3 / 4 BHK 2018 West
Kalpataru Radiance Kalpataru Group 2 /3 / 4 BHK 2019 West
Anmol Fortune The Wadhwa Group 2 /3 / 4 BHK 2017 West
RNA Exotica RNA Group 2 / 3 BHK 2017 West
Romell Aether Romell Group 2 /3 / 4 BHK 2017 East
JP Decks Blue JP Infra 2 / 3 /4 /5 BHK 2017 East
Omkar Ananta Omkar Realtors & Developers 2 BHK 2017 East
Chandak Paloma Chandak Group 1 / 2 / 3 BHK 2017 East
Lodha Fiorenza Lodha Group 2 /3 / 4 BHK 2017 East

*Possession year is tentative and might differ

Two vital social infrastructure developments will make connectivity easier

The Goregaon area is easily connected to the Western Express Highway (WEH) on the Eastern side and is connected to Swami Vivekanand Road (SV Road) and Link Road (LR) and on the West side. There are two vital social infrastructure developments 1) the extension of Harbour line platform from Andheri to Goregaon will make the commuters easily travel upto Chhatrapati Shivaji Terminus (CST) erstwhile known as Victoria terminus and 2) the proposed two metro line one of would be passing parallel to the WEH on the East and other parallel to the LR on the West of Goregaon. The railway station is almost at the centre of the locality giving an easy access, if one wishes to travel by train. Thus Goregaon area is gradually becoming a quality living which is having a blend of both commercial and residential supported by required social infrastructure.

Goregaon – Harbour line extension (current work in progress)
Goregaon – Harbour line extension (current work in progress)

Kandivali – Past/Present/Future – Development

Kandivali has been among the top most suburban location in Mumbai which over the years has evolved significantly. The development has been across segments namely infrastructure, schools, colleges, gardens/parks, restaurants & theatres, banks, markets and most importantly the standard of living of people within the area. The locality unlike other places in Mumbai has changed significantly over the past two decades that even a resident would have ever imagined. Two decades ago, the Kandivali area was largely recognized upto 2 kms within the station. However, over the last two decades the amazing development of the Charkop, Mahavir Nagar and Thakur Village has changed one’s perception drastically. The residential real estate prices of the area, has increased approximately from Rs 500-600/sq ft carpet in the year 1990’s to more than 18,000/ sq ft carpet thus resulting into compounded annual growth of (CAGR) of around 15%. The rate is however different for different localities within Kandivali & is also different for construction hence one needs to check before buying the same.

About Kandivali

Resembling to most part of Mumbai – Kandivali area is also broadly divided into East & West zone by the local railway station. The East has upcoming/developed localities like Thakur Village, Thakur Complex, Lokhandwala and Ashok Nagar while West includes prominent localities like Mahavir Nagar, Charkop, Irani wadi, Shankar Lane and others. The crowd is a mix of all the religions though with a higher population of Gujarati’s. One of the historic developments for the Kandivali area was the development of the East-West flyover (for vehicles) and closure the old Railway Phatak. The area has some of the prominent names of School /Colleges /Gardens / restaurants / malls which are shown below:

Category Name Area
School Thakur Public School Thakur Village
School Ryan International Thakur Complex
School Children’s Academy Ashok Nagar
School Swami Vivekanand Parekh Nagar
School Oxford Public School Charkop
College Thakur College Thakur Village
Garden/Park/Recreation Evershine Dream Park Thakur Village
Garden/Park/Recreation Poinsur Gymkhana Mahavir Nagar
Garden/Park/Recreation MCA Ground Mahavir Nagar
Garden/Park/Recreation Sports Authority of India Akurli Road
Restaurants Zaffron Growels 101
Restaurants UFO Revolving Thakur Complex
Restaurants Bhagwati Irani Wadi
Restaurants Red Indian Sizzlers S.V. Road
Malls Growels 101 Akurli Road
Malls Thakur Mall Thakur Villgae
Malls Raghuleela Mall Poisur


Re-development & Up-coming projects might change the locality’s landscape

The next phase of development of the Kandivali area is likely to be in terms of redevelopment of older societies which will take place gradually over the coming years and also due to new upcoming projects. A big relief recently came for a part/piece of Kandivali locality, post defense ministry relaxed its construction ban around defense land (Central ordinance depots) thereby helping the old dilapidated buildings to turn into newer and better ones going forward. Apart from the re-development activity, there are number of upcoming projects which are coming up in the Kandivali area some of which are discussed below:

Project Name Developer Flat type Possession Area – Kandivali
White City Rajesh Lifespace 1 / 2 / 3 BHK 2017 East
The Windsor Tiruphati Enterprise 1 / 2 BHK 2017 East
Epsilon Shapoorji Pallonji 2 BHK 2020 East
Acme Oasis Acme Group 2 / 3 BHK 2017 East
Sumukh Hills Shree Riddhi Siddhi Group 1  / 2 BHK 2017 East
Acme Avenue Acme Group 1 / 2 / 3 BHK 2018 West
K Hemani Login The K Hemani Group 2 / 3 BHK 2018 West
Gauri Excellency Gauri Group 1  / 2 BHK 2019 West
Oyster Club Life Oyster Living 1  / 2 BHK 2020 West
Ruparel Sky Greens Ruparel Realty 1  / 2 BHK 2019 West
Kalpavruksh Height Raj Arcades Homes & Sethia Infrastructure 1  / 2 BHK 2018 West

Kandivali – An ease to access

The Kandivali area is easily connected to the Western Express Highway (WEH) on the Eastern side and is connected to the Link Road (LR) and Swami Vivekanand Road (SV Road) on the West side thus making travelling a convenient option. The biggest development is the proposed two Metro lines which would be passing through Kandivali and would be connected to the central Mumbai. Of the proposed two lines, one would be passing parallel to the WEH on the East and other parallel to the LR on the West. The railway station is almost at the centre of the locality giving an easy access, if one wishes to travel by train. The Kandivali locality is easily accessible to major employment hubs in Mumbai like AndheriGoregaon and Malad and is becoming a preferred choice for some of the resident. Thus traveling and connectivity was neither a trouble nor would be going forward for the Kandivali residents.

 

Wadhwa Anmol Fortune – Goregaon (West) – Price, Location, USPs

Wadhwa Anmol Fortune entrance

What would be a real estate buyer’s wish list when he looks out for a property? Well, a large part of the audience would be looking out for a reputed developer, large and luxurious flats, advantageous location and lastly convenient financing option in terms of payments. All these are seemingly coming under one roof, if one is looking out for a property in the Western Suburbs of Mumbai. Wadhwa Anmol Fortune located at Unnat Nagar, Goregaon West is worth looking at considering its advantageous location and large size flats with a touch of luxury and being developed by one of the reputed builders – The Wadhwa Group. The 2.2 acres of land parcel where the project is being developed was taken over by The Wadhwa Group in 2014 from the erstwhile real estate developer Polycon Realtors. The project has all necessary approvals in place and is on its way for a completion by 2018.

Wadhwa Anmol Fortune: About The Project

Wadhwa Anmol Fortune site photo
Anmol Fortune site photo

The project Anmol Fortune is coming up at Unnat Nagar, Goregaon (West).The developer Wadhwa Group is placed amongst the most eminent real estate companies in Mumbai. The group has over 45 years of experience in the real estate business and has the track record of completing the projects in a timely manner. It undertakes developments of both residential as well as commercial buildings’; the prominent amongst the commercial buildings includes marvelous “The Capital” located at Bandra Kurla Complex – BKC in Mumbai. The Wadhwa Group’s Anmol Fortune has an impressive legacy and lineage. The Anmol Group of projects (Anmol Pride & Anmol Prestige) in Goregaon West are a tribute to the meteoric rise in Goregaon; as one of the most progressive and sought after suburban destination in Mumbai.

The Anmol Fortune is designed well considering the project being located at Unnat Nagar which is a hilly region. The project has proposed two towers namely Tower E and Tower F of 32 storeys’s each (of which some flats are reserved for the existing tenants). However, because it is a hilly region Tower E would be having 2 levels of podium + Amenities + 32 floors while Tower F would be having 4 levels of podium + Amenities + 32 floors. In terms of offering, both the proposed towers will have 2, 2.5 and 3 BHK flats. According to the developer, currently, the bookings are going on upto 23rd floor for Tower E and 27th floor for Tower F (with around 65% of booking completed) until all the necessary approvals and clearances are in place for the balance floors. The developer claims that the remaining approvals would gradually be in place; thus, completing the project in a timely manner by 2018. In terms of construction activity, at present, nearly 7 & 9 slabs of Tower E and Tower F respectively are completed.

Wadhwa Anmol Fortune: Offering spacious living spaces

Wadhwa Anmol Fortune site photo
Anmol Fortune site photo

A typical 2 BHK flats would be having a saleable area of 1105 sq ft (670 sq ft carpet area) while a 2.5 BHK would be having saleable area of 1400 sq ft (875 carpet area) for the buyers. The key highlight of the project is the large 3BHK flat which has a carpet area of 1400 sq ft. The hall size of the 3 BHK flat has a carpet of around 420 sq ft which is generally equivalent to a complete 1 BHK flat in other buildings.  Thus, the consumers’ problem of space constraint has been taken care by the developer by offering spacious flats.

The developer has made available easy payment options along with the box pricing (uniform pricing for a bunch of units across certain floors).The starting ticket size (including a car parking) for the Anmol Fortune’s 2 BHK flat is around Rs 1.77 crores. In addition, there would be stamp duty, registration and other charges, thus, taking the overall cost slightly above Rs 2 crores. The payment is broadly divided into 6 parts spread over the next two years. The first 3 parts accounting for 45% of total amount to be paid in 2016; the 4th part accounting for 20% in 2017 and the last two parts accounting for 35% in the year 2018. However, this may vary from person to person and according to the buyer’s selection of flats and other terms of payments.

Pricing Chart – for Anmol Fortune
Configuration Carpet Area (sq ft) Floor Pricing (Rs)
2 BHK 670 1st to 10th floor 1.77 cr
2 BHK 670 11th to 20 th floor 1.87 cr
2.5 BHK 875 1st to 10th floor 2.17 cr
2.5 BHK 875 11th to 20 th floor 2.28 cr

Wadhwa Anmol Fortune: Advantageous location

The location of the Anmol Fortune is a big advantage for the buyers. It is well connected to all parts of the Mumbai city. The project is located  at Unnat Nagar – Goregaon (West) which lies between S.V. Road and Link Road and is less than 5 minutes drive from both the parallel roads. Apart from that, it enjoys easy connectivity to the rest of Mumbai city via Western Express Highway and the arterial Jogeshwari –Vikhorli Link Road (JVLR). The project is situated at a walking distance to the Goregaon Railway station. Further, all the basic and luxurious necessities are within 5 kms from the project site thus, making it convenient for the buyers.

Wadhwa Anmol Fortune site photo
Anmol Fortune site photo
  • Shopping Malls – Inorbit Mall, Hypercity, Shoppers Stop, Lifestyle, Obeori Mall, Mega Mall
  • Schools – Billabong, Rustomjee, Obeori International School are among others
  • Recreations –  Goregaon Sport club and Celebration club
  • Hospitals – Kokilaben Dhirubhai Ambani, Siddharth Hospital
  • Hotels –  Flag’s, Westin, Rude Lounge, Picasso, Imgae Restaurants, Khyber are among others

The Wadhwa Group project goes complete with a host of amenities. The Anmol Fortune offers internal amenities (like Vitirfied floorings, POP finishes on internal walls, International standard sanitary fittings), external amenities (Fitness centre, Swimming Pool, Power backup for lifts, bank ATM in complex, Children play area amongst others) and security amenities (Video door phone, CCTV surveillance, sprinklers as per regulations and others). For these several reasons Anmol Fortune might just appeal for those searching dwelling spaces in Western suburbs of Mumbai.

Click here for actual site photos of Wadhwa Group’s Mumbai projects

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Wadhwa’s Takeover of Unnat Nagar – Goregaon Project – A Sigh Of Relief For Tenants

Every business has its own characteristic with respect to the capital requirement for running the business. Some businesses require less capital and are termed as asset light businesses while others require huge capital investment and are termed as asset heavy businesses. The real estate business falls into the latter category starting with the cost of acquiring a land parcel, getting approvals at various stages and development costs; thus requiring large funds for completion of any project. Certainly, the working capital requirement for any company operating in the real estate business is huge as initially the funds are required to be deployed for construction related activities and at the later stage the selling takes place generating cash flows for the business. Hence, the business in itself is of high risk and high returns in nature.

Considering the nature of business, the buyer’s eye-brow often tends to lift up, asking what if the developer in the mid of construction activity faces some headwinds in terms of approvals or cash crunches and is not able to complete the project? What if the developer leaves the project in between? Well, the obvious response to these would be delays and disappointments. The solution to this kind of situation now a days’, is takeover of the existing mid-way project by some renowned developers’. The project located at Unnat Nagar, Goregaon West is a well known takeover project by the renowned real estate developer – Wadhwa Group from Polycon Realtors in 2014 and is named as Anmol Fortune.

The story goes long back to 2005 when a land parcel measuring 2.2 acres at the prime location of Unnat Nagar – Goregaon West was handed over by the local tenants to the Polycon Realtors. The Unnat Nagar area lies between S.V. Road and Link Road and is less than 5 minutes drive from both the parallel roads. Apart from that, it is easily accessible to the Western Express Highway and Goregaon railway station. Thus, the project’s advantageous and prime location; has grabbed many eyeballs. The developer and the tenants had agreed upon for construction of 4 Towers viz: A, B, C and D with a distribution of flats to the existing tenants and the balance new flats to the prospective buyers’. Based on such agreement, the construction activity was started with Tower C and went good upto 10 storeys of the proposed 20 storeys. However, post that, the construction activity unfortunately halted due to some financial crunches faced by the developers – Polycon Relators. It did not move further for many years then until it was takenover by the Wadhwa Group.

Anmol Fortune site photo
Anmol Fortune site photo

With around 9 years post the initial construction was started; the said project development was taken over by the Wadhwa Group from the Polycon Realtors. With this takeover, the hopes of the discontented tenants rightly came back bringing cheers. The Wadhwa Group did not break the tenants hopes’ with giving out the possession for Tower C (all 20 floors) which was half constructed (10 floors) by the previous developer – Polycon Relators. The top 10 floors (11th to 20th) were constructed by the Wadhwa Group with some of the existing tenants has already shifted in their new homes in Tower C.

The Tower C which is now ready for possession has Ground + Podium + 20 floors and is constructed as per the old Development Control Regulation (DCR) norm which has a Balcony. The tower C is of 20 storeys with 4 flats on each floor (excluding 2 refuges) thus, comprising of 78 flats. Out of such 78 flats, 18 are allotted to the existing tenants and the balance is let out for sale by the Wadhwa Group. Further, as per the developer, most of the flats are sold out and currently only limited inventory is left for sale in Tower C.

As per the plan of the Polycon Developers, apart from Tower C, other Towers namely A, B and D were registered and proposed under the said land parcel however the same was not feasible with the new developer. Hence, the Wadhwa Group proposed to construct Tower E and F as against the previously proposed Tower A, B & D. The flats are available for sale in Tower E and F which are fully developed by the Wadhwa Group.

Anmol Fortune site photo
Anmol Fortune site photo

Thus, with the takeover of the project by the Wadhwa Group, the existing tenants got a sigh of relief as the hope for timely & better execution remains the key for the project. We would be discussing all the other parameters (in terms of advantageous location, pricing, area and much more) of the other two towers (E & F) of the Anmol Fortune project located at Unnat Nagar Goregaon West in our next note.

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Oberoi Realty – Sky City, Borivali East – Updates, Pricing, Location and Units

214_Oberoi Sky City Hoarding

“The only thing that is constant is change”. Over a decade ago, one would have never imagined the concept of luxurious homes particularly in India. On the head side of the coin is the old buzz of affordable housing which continues to whisper amongst the mass audience whereas on the tail side is the luxurious lifestyle loudly appealing the niche buyers. Aspirations of anyone are always to own a home which is of the latter kinds. The Oberoi Realty Group instantly pops up in our mind when we talk of luxurious living at Mumbai. Oberoi’s under construction project –Oberoi Sky City at Borivali East was a surprise package on its launch (October 2015) which had a token system for the long queue just to reach the registration/sales desk.

More About Oberoi – Sky City

The Sky City project is being developed by the Oberoi Realty Group which is a Mumbai based real estate developer with over three decades of experience in providing various real estate services. The Group has developed over 39 projects at strategic locations across Mumbai aggregating to 9.18 million sq. ft. of area. Further, it has plans to develop another 20.61 million sq. ft inits upcoming projects in various parts of Mumbai and other regions in the forthcoming period. The Oberoi Sky City towers are constructed on the land that was purchased at a cost of Rs.1155 crores (approx) in 2014 from the Tata Steel Group, the former owner.

Oberoi Sky City, Borivali is coming up on 25 acres of land parcel; where 10 towers are proposed over the next 5-6 years. All the 10 towers will be sixty storey high with typically each floor comprising of six flats. The project was launched in October 2015 with the necessary approvals in place for its three towers A, B & C. Currently; more than 60% of the bookings have already taken place for the said three towers. The Sky City project had received a very good customer response earlier in October 2015 at the time of its launch as well as now when its bookings have commenced for the new Tower D.

Oberoi Sky City, Borivali Construction Site
Oberoi Sky City Construction Site

Price & Payment Options

The Sky City, Borivali project offers 3 & 4BHK flats with the option of balcony. A typical area of 3BHK flat would be around 1034 sq.ft.& is priced at Rs.23,000/sq.ft (with a floor rise of Rs.150/sq.ft)thus, costing around Rs. 3 crores which includes two car parking slots (carpet area sizes and prices). However, prices vary with the flat size, floor rise and other applicable charges.

The payment option is broadly divided into six stages as under:

  1. Stage 1 to 4: 10% payment to be made four times,each over the next one year
  2. Stage 5: 44% of the payment is according to the casting of each slab and
  3. Stage 6: The balance 16% (each divided in 4 installments)

So, from a customer’s perspective, the flat would cost around Rs. 3 crores which would be spread across the stages with around Rs.30 lacs to be paid upfront as the booking amount and the balance 30% (Rs.90 lacs) gradually over the next one year; totaling to around Rs.1.20 crores in this span of time. The balance payment has to be made gradually according to the stage of development (typical construction linked plan). Further, considering it is an Oberoi Realty project, financing through mortgage would not be a constraint for the buyers opting for one.

In terms of list of amenities, the Sky City comes out with almost everything. The health & fitness, entertainment, recreation & relaxation all comes under one roof. Some of the major highlights include Landscape gardens, Jogging track, Multi-purpose hall, Gymnasium, Swimming Pool, various playing zones (Tennis & Badminton court, Cricket pitch) amongst others. Moreover, in its vicinity are Schools & Colleges (Thakur Vidya Mandir, Thakur College), Hotels and Restaurants, Movie Theatre (Carnival Cinema), Entertainment spots, Hospitals, Malls and Shopping Centre’s and various Banks/ATMs.

Ongoing construction Oberoi Sky City, Borivali
Sky City Construction Site 2

The project is located right at the Western Express Highway and the Borivali Railway Station is also nearby, thus, making travelling convenient. The developer also claims that a proposed Metro station (Metro route from Dahisar to Andheri Highway) is likely to come up which would add to the convenience in terms of travelling. Sky City is located at Dattapada Road of Borivali (East) and is coming up opposite to the Magathane BEST depot. One travelling from South Mumbai could reach the project site after crossing the Sai Dham Temple of Kandivali East.

Overall, Oberoi Sky City, Borivali is one of the prime properties coming up at Mumbai and offers complete home solutions for the prospective buyers. Larsen & Toubro has been awarded the construction contract for the project and work is in full swing now.

Read about Oberoi Garden City on PropStory

Acme Avenue – Charkop, Kandivali West – Location, Price, Amenities

What would be the capital appreciation of the apartment over the next 10-15 years? This is the foremost question that puts the consumer cum investor in dilemma whenever they invest/buy a property. One of the leading factors of appreciation of your apartment is where it is located and how developed is the locality. Thus, the property appreciation is directly proportional to the development of the locality where the property is situated. Further, for development of any locality, the social infrastructure plays a fundamental role. Such social infrastructure may include upcoming transport projects (like new roads/railway lines), educational institutions (schools/colleges), recreational areas (parks/gardens), entertainment oriented (movie theatre, shopping malls) and so on. If the property is located in an area where there is some new social infrastructure coming up, its demand is likely to increase eventually resulting to capital appreciation of the property. Thus, Acme Avenue project at Kandivali West might offer room for price appreciation while offering luxurious lifestyle.

About the project – Acme Avenue  

The Acme Avenue project is coming up at Babrekar Nagar, Charkop, which lies on the outskirts of Kandivali West. The project is some what delayed, however, now the same is on track with all major approvals in place. The development of the project is a part of the Slum Rehabilitation (SRA) scheme. The developer of the project “Acme Group” has around 4 decades of experience in the building and construction field and is among the prominent names with nearly 100 projects already delivered. The Group has over 4.5 mn sq ft of under construction area which would be developed in the ensuing period.

Under Construction Towers Acme Avenue
Under Construction Towers Acme Avenue

The developer claims that the Acme Avenue would be closer to the proposed metro station – Charkop of the Mumbai Metro Line 2 project (i.e. Dahisar – Charkop – Bandra – Mankhurd). Further, there is a new road connectivity coming up which will run parallel to the Link road and connect Malad – Marve Road.  At present, there is a road connectivity upto Billabong School (from Malad Marve Raod), which shall extend till the project site in near future. Thus, the two new proposed social infrastructure developments at Charkop may boost property values in the locality and thereby offer some handsome capital appreciation. However, all this is subject to the government’s necessary approvals and the timelines for delivery of social infrastructure.

Acme Avenue- Wings

The project has two wings namely A & B; with tentative possession for Wing A by September 2017 while for the Wing B, it is probably after 3 years. Both the wings would be 32 storey’s each and with an option of 2 & 3 BHK apartments. Tower B, in addition would also have smaller size of apartments of 1.5 BHK. The 2 BHK apartment would comprise a super built up area of 1,102 sq. ft. (Carpet area of 668 sq ft) while a 3 BHK apartment comprises of super built up area of 1,642 sq ft (Carpet area of 995 sq ft). The average selling price is kept at Rs.10,800/sq ft with an addition of Rs60/sq ft for the floor rise. The necessary approvals for the 25 floors (of the total 32 floors) have already been obtained by the developer and the balance would be obtained gradually.

The project offers a host of amenities which can be broadly classified into three following categories:

  1. Luxurious Lifestyle amenities –French-style windows, laminated flooring for master bedroom, designer bathrooms with sanitary fittings and much more.
  2. Health & Fitness amenities – Includes Sauna and steam room, Jogging track, Acupressure pathway, Cardio Gym, Swimming pool are amongst others.
  3. Recreation & Entertainment – Toddler park, Astronomy deck, Table Tennis, Community Party Zone, Sky Lounge, Children’s play zone.

The project site has good connectivity with the city. Kandivali Railway Station and Western Express Highway are around 15 and 20 minutes drive from the project site, respectively. Further, with the development of the new proposed metro station, travelling would be simpler and convenient for the commuters’ thereafter. If one is travelling through the Link Road from Malad, he needs to take second left from the Mithi Chowki Junction and then move straight to visit the site. The project is nearby to the Hindustan Naka.

 Acme Avenue connectivity:

Landmark / Connectivity

Approx Drive (in minutes)

Hindustan Naka

3

Link Road

5

Apna Bazaar

5

Kandivali Railway Station

15

Infinity Mall

15

Mindspace IT Hub

15

Western Express Highway

20

 

Under Construction Towers Acme Avenue, 2
Under Construction Towers Acme Avenue, 2

Acme Avenue also has all the conveniences in its vicinity like Schools (Billabong International, Esplanade High school, St Anne’s High school) & Colleges (Atharva College of Engineering & Management) , Hotels and Restaurants, Movie Theatre (Movie Time) and Entertainment, Hospitals, Malls (Infiniti & Inorbit Mall) and Shopping Centre’s and Banks/ATMs. The financing option would not be a constraint; considering the project is developed by Acme group.