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Real estate in Powai, Mumbai

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

Powai has come a long way from being a hamlet bordering one of the important lakes supplying Bombay its drinking water. But it really entered the consciousness of Mumbai residents after 1958 when the illustrious and today’s foremost technology and research institution – Indian Institute of Technology, Bombay or IIT-B as it’s more popularly known – was established.

Overview of Powai Real Estate by Propstory

Powai has come a long way from being a hamlet bordering one of the important lakes supplying Bombay its drinking water. But it really entered the consciousness of Mumbai residents after 1958 when the illustrious and today’s foremost technology and research institution – Indian Institute of Technology, Bombay or IIT-B as it’s more popularly known – was established. As IIT-B grew to renown and the campus spread out, Powai grew as a residential area. The Hiranandani Builders gave it a unique look and feel with similarly designed high rises as part of its Hiranandani township setup. Powai, with this towering landscape was recognisable from miles away. It wasn’t long before corporate offices were set up here and the hamlet exploded into a well-known and seemingly posh township.

We look at the top five reasons Powai is a coveted residential location for a lot of people looking to own a home in Mumbai.

Central Location

Powai shares its borders with western towns – Andheri and Jogeshwari as well as central towns – Vikhroli, Kanjurmarg and Ghatkopar. This means it’s centrally located and easily accessible to both sides of the sprawling city. Its residents can access both the Central and Western Railway as well as the arterial routes of Western Express Highway, LBS-Lal Bahadur Shastri Marg and Eastern Express Highway. The Jogeshwari-Vikhroli Link Road (JVLR) has become a nodal route and reduced travel times while making Powai a veritable drive-through town.

renaissance-powai
Renaissance Hotel Powai

In addition to being connected to major travel routes Powai is also well served by regular public transport like BEST buses, rickshaws and privately operated cabs and buses. It also enjoys a reputation of being a scenic location surrounded by the Lake and the Powai Hills as well as the forested Aarey Colony and Sanjay Gandhi National Park beyond.

Bespoke Residences

While Hiranandani Builders might have set their mark on Powai through their trademark residential and commercial developments many others have also created some bespoke, luxury apartments. Rajesh LifeSpaces, Raheja, Wadhwa Group, Larsen and Toubro, Shapoorji Pallonji, Nahar and many more have been designing panoramic gated communities with all the possible amenities packed in – swimming pools, landscaped gardens, kids’ play parks, gyms and more. In addition to the beautiful residences, this township has been well planned. It boasts wide roads and tree-lined avenues which are a rare sight in a city like Mumbai.

Social Amenities

With Powai’s exponential growth over the last two decades, there has been a boom in services catering to the growing populace. There are a number of educational institutions now offering Maharashtra Board as well as international curricula. Hiranandani Foundation School, S. M. Shetty High School, Kendriya Vidyalaya, Podar, Bombay Scottish are some of the schools. In addition to IIT-Bombay, NITIE is a recognised institute for business studies. Colleges in the nearby towns of Ghatkopar, Andheri, Jogeshwari are easily accessible.

Powai Lake Promenade (Source: My Powai)
Powai Lake Promenade (Source: My Powai)

Dr. L. H. Hiranandani Hospital offers renowned medical care. Additionally there are medical centres like Care and Cure Maternity Nursing Home, Godrej Memorial Hospital and the popular Seven Hills Hospital and Holy Spirit Hospital in Andheri.

Powai is a well known entertainment hub and home to many popular restaurant chains like Out of the Blue, Rude Lounge, Starbucks, Sigree Global Grill, Chili’s and more. The popular Renaissance Hotel borders Powai Lake and the more affordable Ecotel hotel Meluha is in the heart of the township. Residents can shop for groceries and conveniences at D-Mart and many local stores, shopping centres and malls like R-City. Moreover, the area around the lake has been developed into a tree-lined promenade with grassy lawns providing a scenic hangout and adding to the beauty and appeal of the town.

Commercial Centre

The many corporate offices and commercial buildings housing big names like Crisil, L&T, Deloitte Consulting, Bayer, Credit Suisse, TCS, Sanofi, J P Morgan, Nomura, Cognizant, Colgate-Palmolive as well as business centres like Kensington SEZ and Vatika Business Centre have made Powai a commercial and business centre. Everyday thousands of people stream into offices across Powai from around the city. It is also close to the business centres of Andheri like Saki Naka and MIDC as well as the sprawling office complex of Godrej Industrial Centre in Vikhroli.

Crisil House (Source: Glassdoor)
Crisil House (Source: Glassdoor)

Entrepreneurial Hub

Over the last few years Powai has also gained a reputation of being the entrepreneurial and startup hub of the city. Being home to IIT-B as well as NITIE means many engineers and business graduates from these institutes join the commercial offices in the lake town. Many of these youngsters also explore entrepreneurial opportunities. The alumni of IIT-B have also created their own network to help grow such opportunities and reach out to one another, thus creating a vibrant startup ecosystem. Powai Lake Ventures is one such network that also works as an incubator to help young entrepreneurs connect. Housing.com, Flyrobe, Nearfox, TinyOwl, Toppr, HolaChef, JustRide are some of the startups to emerge from the Powai Valley entrepreneurial ecosystem.

IIT-B campus
IIT-B campus

While these might sound like excellent reasons to make Powai your home, the actual experience of being here is second to none. Just ask any of the thousands who travel here for work or meetings, or social visits. The palpable buzz one feels while spending time here is certain to make one aspire to own or even rent a home in Powai. How about you? What has your experience of Powai been like?

The real estate sector at Powai and around until Chandivali, is well developed and growing even further. Since the last two months I started to study Mumbai’s property sector, I’ve been amazed by the sheer scale of developments in this area. It is so difficult to believe that Powai as a property market didn’t feature on a Mumbaikar’s radar some 15 years back. However, this region has ever since transformed itself into a luxury market. Previously, we spoke about the developments of ongoing and upcoming projects in blogs which you can find here.

We discussed about how Powai developed over the last two decades, thanks to the start-up entrepreneurial activity that has surged in this area and in turn, has created a bigger spillover demand in the surrounding areas for the real estate market. We also talked about necessary infrastructure that eventually led to several corporate offices setting up their bases here, and a thriving residential market that reflects the white collar working class of India’s financial capital. Hiranandani’s planned township is perhaps one of the biggest reasons for emergence of Powai as a startup hub and business-center, almost as if establishing a business hub away from town-side and creating a new breed of work culture in the suburban Mumbai. As a matter of fact, it’s fairly established as a perk, that if you work in Powai, you’re bound to live in Powai, and henceforth, you need not step out of Powai. This region has become self-sufficient in terms of social and public infrastructure among everything else needed for an established urban locality.

We delved a bit further into the Powai residential market. We went across to a few upcoming property sites, ones you can find listed on propstory.com for discussions. We have also put up a synopsis of our site visits, along with recent photographs from these residential projects. We have spoken to respective sales or marketing staff present at these site offices, and wherever we didn’t get to interact, we got in touch with the companies to fetch information that you might need.

Here’s a chart below that is basically a compilation of price per square feet, configuration and total number of apartments to be constructed for each of these properties at Powai and Chandivali –

Powai Area Report for upcoming projects
Powai Area Report for upcoming projects

The prices and number of apartments is prone to error as these are based on interviews and online research.

1. L&T Emerald Isle

Emerald Isle is an under construction by L&T Realty and is located at Powai, off the main road, and very close to Powai Lake on the opposite side. It comprises of 8 towers and offers 2, 3, 3.5, and 4 BHK apartments with added amenities within an area of 16 acres.

For more info, and site images, click here

2. Raj Grandeur

Raj Grandeur is an upcoming project by Rajesh Lifespaces which is located behind Hiranandani Hospital. It comprises of 3 & 4 BHK apartments among other amenities and consists of two towers with more than 160 units in place. We were told that close to 60% apartments are already sold.

For more info, and site images, click here

3. GHP Trinity

GHP Trinity is an upcoming project by GHP Group in collaboration with Rajesh Lifespaces. It is located close to Hiranandani Hospital, right next to Raj Grandeur and Supreme Aishwarya CHS. It comprises of 180+ apartments, while its latest offering is of 3 BHK apartments with most having sold out.

For more info, and site images, click here

4. Supreme Aishwarya CHS

Supreme Aishwarya CHS, by Supreme Infrastructure Ltd, is an under construction residential complex located near Hiranandani Hospital. It has 21 apartments of 2-BHK configuration.

For more info, and site images, click here 

5. Supreme Anamika

Supreme Anamika is an upcoming project by Supreme Infrastructure India Ltd. The project is located in the IIT Bombay market and easily accessible from JVLR. The project consists of  1 and 3.5 BHK apartments.

For more info, and site images, click here

6. Jaycee Serenity

Jaycee Serenity is an upcoming project by Jaycee Group. It is located in the vicinity of GHP Trinity, Supreme Aishwarya and Raj Grandeur and is an upcoming project comprising of 1 and 2 BHK apartments.

For more info, and site images, click here

7. Shapoorji Pallonji Vicinia

Shapoorji Pallonji Vicinia is an upcoming project by Shapoorji Pallonji and Co. Pvt. Ltd. It is located in Chandivali, close to Lake Homes entrance, through the backroad leading to Nahar’s Amrit Shakti, and is spread across 5 acres of land. It is offering 2, 3, and 3.5 BHK apartments and has many other added amenities.

For more info, and site images, click here

8. Pashmina Lotus

Pashmina Lotus is an upcoming project by Pashmina Developers at Powai, close to Panch Srishti complex. It is offering 4 BHK apartments and will be having 4 towers of 21 floors each.

For more info and site images, click here

9. Nahar Cayenne

Nahar Cayenne is an upcoming project by Nahar Group at Nahar’s Amrit Shakti, a township at Chandivali. It consists of 1 and 2 BHK apartments and has 14 floors with additional floors for commercial shops.

For more info and site images, click here

10. Nahar Bryony and Burberry

Nahar Bryony and Burberry consists of 2 apartments on each floor and comprises of 3 BHK apartments in two towers which are about 18 and 20 storeys, respectively. It is located within the township of Nahar’s Amrit Shakti in Chandivali.

For more info, and site images, click here

11. Nahar White Lily and Water Lily

Nahar White Lily and Water Lily are two upcoming towers coming up at Nahar’s Amrit Shakti and will have about 16-17 floors each. They’re located next to D Mart at Nahar’s Amrit Shakti and comprises of 2 BHK apartments.

For more info, and site images, click here


15 years of continuous real estate development in Powai has made it a well-known suburb in Mumbai.


Powai Hiranandani Gardens Snap
Powai Hiranandani Gardens Snap

Hiranandani Gardens, Powai.

Hiranandani Group championed the art of ‘walk to work’ in Mumbai. In the late 90’s when the work started here, probably it was the first time such a concept was being tested in Mumbai. Powai, thanks to developments by Hiranandani,  is the most systematically planned and laid-out area in Mumbai. The popularity of this mini-township, has further allowed for the real estate market to develop in the surrounding areas as well.

In the monsoon month of July 1999 my parents and I visited Mumbai for the first time. The occasion was my enrollment at the prestigious IIT-Bombay. I wore new clothes and was all charged up when we landed at Mumbai only to be greeted by a heavy downpour. Rains like this one were new to me.  It felt as if we landed during middle of the night while the clock said it was just 12 pm. As we drove towards IIT the rain seemed to gather additional momentum and lights were dimming further. Though my confidence only soared with each passing hour. Within no time it was time for lunch at the hostel and reality was quick to catch up to us, welcome to the hostel life at IIT! The very next morning crickets, grasshoppers and a solitary snake greeted us. It is said and I came to believe during the five year stay at IIT that temperatures at Powai are probably a degree or two lower than rest of Mumbai. And why not so, IIT Powai abuts a large national park and is flanked by lakes at two boundaries.

Powai: Projects Visited by Propstory

Other Localities Visited by Propstory in Mumbai

Dombivli

Ghansoli

Ghatkopar

Mira Road Station

Mira Bhayander

Panvel

Ulwe

Virar Railway station

Virar

In front of the Oberoi Mulund, Eternia site

Mulund

Bhandup

Kandivali

Chembur

Liv Smart Boundary along Kirol Road

Kurla West