Sky City at Borivali, Mumbai

The information has been curated from various sources and may not be verified as per RERA guidelines

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. This article is your guide to Oberoi Sky City’s project photos, prices, on-site report,  amenities, floor plan & more.

Sky City - Site Visit Updates by PropStory

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“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

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After a long and eventful business trip to Delhi NCR I landed in Bombay late night on October 29th. The following statement by sales head of a NCR developer sums up the mood of the market “there are firms ready to offer lunches at star rated hotels to entice interested buyers”. The markets are very dull and it isn’t the case with only NCR but across various cities in India. With over 10 developer meetings and 30 project visits in NCR I was clear that our team won’t be doing any more site visits for some time as there is enough back log to clear. However, I woke up to a WhatsApp message that there is a long queue of curious and interested property investors at the Oberoi Sky City, Borivali East. One could call it similar to those Apple product lovers who throng to stores just before launch of the next Apple iPhone or iPad, only difference this time it was for Oberoi’s Borivali apartments.

Sky City by Oberoi Realty-1
Artist impression of Sky City by Oberoi Realty

My reaction to this message was, Oberoi Realty did it again!!! Few months back Oberoi received a similar response to its launches in Mulund West for projects – Eternia and Enigma. One would be tempted to ask how is that Oberoi is pulling this trick successfully launch after launch. The company had purchased 25 acre plot on Dattapada Road from Tata Steel Ltd. in March, 2014 for an amount of approximately Rs. 1,155 Crore, making it one landmark deal in Mumbai real estate. As was the case with Oberoi’s Mulund project people were waiting for the firm to finalise its plans and launch the project. So there they were, hoardings all across Mumbai informing people of the upcoming launch on October 30, 2015. I wasn’t sure of the message I received as it was difficult to believe such buzz for a real estate offering in this market. Three of us from PropStory decided to drive down to the Sky City site in Borivali East. We reached the Oberoi Sky City site by 4 pm and were amazed to see crowd waiting to get to meet the sales team of Oberoi Realty. There were over 100 cars in the parking lot and hundreds of Mumbaikars hoping to lay their hands on the prized possession – a brochure! We saw several happy men, women, teens walking out of the main gates of Oberoi Sky City’s marketing office.

The Tata Steel Plot - Sky City
Tata Steel plot on which Sky City will be coming up
Crowd gathered at the main entrance

25 acres is a lot of land in Mumbai, given Oberoi’s track record we expect to see a promising development plush with amenities. There are several of them listed in glossy brochure. What is more remarkable is that planned towers are 60 storey tall with 3BHK and 3BHK-Studio combo configurations on offer. Company’s CMD VIkas Oberoi calls the project “affordable luxury” as he used this term in talking to business channels ahead of the launch. Precisely the reason the project saw such an overwhelming reception. Priced at about Rs 12,500 on salable area Sky City seems to be pricing in market realities and add to it standard offerings such as – marble flooring, branded fittings, balconies in some apartments amongst many more. Large apartments cost about Rs. 2.3 crore to start with.

Queue outside the sales lounge
Queue outside the sales lounge

The site is right on the Western Expressway Highway which is probably the big plus. Bhoomi by Ekta, Exottica by Kanakia, Rivali Park by CCI Projects and Tatva by Gitanjali Lifestyle are at stone’s throw away from the project site. Dattapada road is a busy one and leads to Borivali railway station. Metro cash and carry is another landmark to Sky City site.

[Click here for exclusive coverage of Oberoi Sky City Project. You may post queries to Oberoi Realty’s team.]

To sum it up – Oberoi’s track record of project delivery, apt pricing and quality offering is a big draw for buyers in Mumbai. While initial buzz is strong we feel it might translate into good sales for the company.

By the way I forgot to mention when we entered the stall we were handed over the token number 1309 and were told current customer being dealt with is one with token number 1000, hence be prepared for a long wait. It took over thirty minutes for us to reach the sales staff. There were queues everywhere – registration desk, query desk, booking desk and AV stall. The marketing department at Oberoi Borivali site informed that by the time they called it a day 1500 tokens had been issued. While the queues were see even on October 29th when the launch was supposed to be on October 30th.

The Crowd Inside The Sales Lounge
The Crowd inside the sales lounge

About Borivali East

Large number of people at the token desk

Borivali East is a Mumbai suburb located along the Western Express Highway and offers good connectivity by Mumbai suburban local which operates fast services from the station here. Borivli is in vicinity of several industries some of which are now shut down and being redeveloped as offices and residences. One can approach Bandra Kurla Complex, Jogeshwari, Goregaon and Malad from Borivali. All these places are big employment centres for services professionals. Many long distance trains halt at Borivali station hence offers good connectivity to major cities of India for trains originating from Mumbai. Also Borivali is a preferred residential destination as it offers excellent social infrastructure such as school, hospitals.

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Actual Images of Sky City

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