Real Estate in Powai, Mumbai

 Propstory Area Reviews

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.

 Review and Updates on Powai

Top 5 Reasons Why Powai Is a Coveted Residential Destination

December 24, 2016

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 …

Top 5 Reasons Why Powai Is a Coveted Residential Destination

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?

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Powai – A Market That Continues To Grow

December 2, 2015

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 …

Powai – A Market That Continues To Grow

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

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‘Powai Valley’ And Its Real Estate Cousins

October 11, 2015

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

‘Powai Valley’ And Its Real Estate Cousins


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.

Growth of Powai in the last two decades is due to the fact that it grew along with an emerging India, slowly waking up and leaving behind the shackles of abject policy failures, amidst a huge number of middle-class households migrating constantly to cities and in between cities and looking for affordable housing that cater to their needs for settling down. Powai was a sleepy suburb once, lush green and barren, popular for a handful of sites such as being a romantic gateway to Powai Lake, The Renaissance Hotel overlooking the lake from just outside of Aarey Milk Colony, and IIT-Bombay campus which was set up in the outskirts of erstwhile Bombay. For others, Powai mattered less as a suburb because of its location which was considered then to be outside of the main city. Also a lack of proper connectivity and infrastructure prevented larger urbanization here.


Hiranandani Central Avenue, D Mart ahead on the left
Hiranandani Central Avenue, D Mart ahead on the left
Towards High Street and Old Hiranandani.

Late 90’s & throughout 2000’s, a surge in construction by Hiranandani developers, and subsequent investment & construction by others in it’s surrounding areas made Powai a highly sought-after locality. Large business parks, shopping centers, and high-streets allowed for a lot of commerce, and that investment-driven real estate boom helped shape the consumer-based economy of Powai. It witnessed a huge influx of people, and that added wings to growth in the real estate market of this area. Today, it boasts of great restaurants and popular chains, big brands and big marts, and now, it’s a big hub for entrepreneurial activity. The properties itself are unique in terms of – designs, layouts, courtyards, balconies,  panoramic views and what not, making it quite a departure from the pigeon-hole apartments that were largely owned by Mumbai’s middle-class.


 

View of Hiranandani Gardens
View of Hiranandani Gardens from Supreme Business Park.

But ‘growth’ too comes at a cost. Powai has over the years gotten increasingly out of reach for an average middle-class professional living in the city. This is when the areas around its vicinity started to develop, but relatively on more affordable prices to cater to the unmet demand. Chandivali is one such locality close to Powai. It started to take shape in early 2000s. Chandivali benefited immensely from this situation of high demand and predictable supply. We did write earlier that Powai is firming up its position as the area of choice for young entrepreneurs, and this heightened role of entrepreneurial activity is making Powai and it’s surrounding localities more attractive amongst the relatively younger lot and risk takers. Chandivali is feeding off this buzz. Nahar, Raheja, and several other developer groups built mini-townships here, primarily for residential zones with many amenities. There are a few well-built, multi-storied properties of smaller sizes as well, ones that have come up or would be coming up on smaller plots due to a lack of availability of land.

 

Markets at Hiranandani Powai
Chandivali Farm Road towards Lake Homes on the left
Nahar Amrit Shakti in Evening
Nahar’s Amrit Shakti

A consistent factor in the real estate sector of Bombay suburbs is that many new townships have been and are being conceptualized and implemented by private developers. This kind of residential property is being developed to give the residents a small habitable ecosystem within a certain area of land. Henceforth, it generally tends to have a school, clubhouse, medical center, business center, shopping street and retail store property, and well-laid out roads around and along the vicinity.


 

Lake Homes From Chandivali Entrance
Lake Homes entrance on Chandivali Farm Road.
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Lake Homes, Chandivali
Nahar School
Nahar International School

HFS (Hiranandani Foundation School), Bombay Scottish School, Podar International School, Gopal Sharma Memorial School, S.M Shetty School, Kendriya Vidyalaya at IIT and Bhandup are some of the schools in this area.

Dr L H Hiranandani Hospital and Powai Hospital are a few prominent ones while many medical centers, nursing homes and clinics exist such as Nahar Medical Center in Chandivali. Many clubhouses and gyms exist in the area that work independently such as the infamous Gold’s Gym, but a few others give major perks to residents of respected townships.


 

Raheja Vihar Entrance up ahead
Right outside Raheja Complex at Powai is a narrow lane that leads to the entrance up ahead.
Chandivali Farm Road, right turn Mhada and Singhad College
Chandivali Farm Road.

Now, when urban land is being distributed in a manner that allows for developers to compete for customers, as in the case of Chandivali between Raheja and Nahar, who built similar flats and facilities, it is good competition. The roads around these areas are well laid out, except for small patches at the end of the road of a mini-township where the surrounding land belongs to none or undeveloped or untouched.
Having lived here since 2002, I have noticed the growth of properties and the pace of work that defines the speed of completion. Hiranandani has been particularly aggressive as their speed of completion has been much faster than what is the case in the adjacent corridor of Chandivali. However, those differences could be due to various other impediments including workforce, property demand and supply, etc.


 

Construction by Nahar Group along Nahar’s Amrit Shakti Road where rumors about a mall coming up has never died.
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Roads are well laid-out, and footpaths have been completed along Nahar’s Amrit Shakti Road.
Nahar building entrance
Residential complex gate at Nahar’s Amrit Shakti, Chandivali.

Nahar Group still have half a decade left by observable estimation, at least for completion of all its projects around the current residential sector within the township. Subsequently, the other areas at the end of Nahar Road, we can see shops on one line unilaterally built by the developer group, or the area near Lok Milan which is an old residential complex, are plots that will see activity much later. There were also talks, plans, and rumors about a proposed mall being erected here in the near future since Powai specifically lacks that for all it’s worth. Although, a few of Raheja’s projects are still ongoing, they started much before, and thus, it won’t be wrong in saying that the development has been slow.


IMG-20151008-WA0003
Construction activity at L&T Realty’s Emerald Isle can be seen here

Emerald Isle, is a new project under construction by L&T Realty, located right off JVLR on Saki Vihar road, and looks set to be an exciting prospect. It is a premium project and some classifieds quote the rates at Rs. 22,000 per sq. ft.

Emeral Isle, Powai under construction
Under construction, Emerald Isle is located right off JVLR.
L&T Emeral Isle
L&T Realty’s project is expected to be completed by Dec ’16.
Shappoorji Pallonji Vicinia
Shapoorji Pallonji Vicinia is the new project being constructed along Turbhe Road at Chandivali-Powai.

While another new project, near Chandivali Farm road along Turbhe Road, called Shapoorji Pallonji Vicinia, is under construction.

It’s at Turbhe Road, which is a narrow road of about 200 meters with lots of barren land on one side and a few residential towers on the other. It leads to Nahar’s Amrit Shakti and is well connected to Lake Homes and Hiranandani through the other side of the road.


Being equidistant to both the Eastern and Western Express Highway, Powai and nearby areas don’t really feel that far from suburban railway stations. The newly-made metro rail caters to people between Ghatkopar and Versova. It provides the residents of Powai and Chandivali, the closest metro station at Saki Naka. The most remarkable aspect is the ease with which one can reach the Chhatrapati Shivaji International Airport by road, since it’s at a very close distance.

Western suburbs of Goregaon, Malad, Kandivali and beyond are not far away, either through JVLR and WEH or through the Aarey Milk colony road near L&T that cuts down the distance and traffic. Business hubs and SEZ’s of SEEPZ in Andheri via JVLR or Saki Naka, and BKC in Bandra via Kurla, are also not far away, although commuting can be a nightmare due to traffic at Saki Naka and Andheri-Kurla road.

Nahar Road towards Chandivali Farm Road
Nahar Road going towards connecting Chandivali Farm Road.
Raheja Vihar Road Entrance from Chandivali Farm Road
Entering Raheja Vihar via Chandivali Farm Road.

To summarize the areas of Powai and Chandivali, most part of the township-based projects have been developed, a few properties are upcoming, and roads are well laid-out, except for a few ‘kaccha’ stretches at the peripheries of these projects. Smaller plots of land will see projects being developed in time, as land availability decreases, and real estate demand and supply come into effect.

Hence, it goes without saying that the zone is a much sought-after location, for emerging entrepreneurs and upcoming businesses, and especially buyers looking to avoid city chaos, infuse the beauty of nature and settle at a quiet yet vibrant neighborhood.

Hiranandani Gardens near Jal Vayu Vihar.
Hiranandani Gardens near Jal Vayu Vihar.

 

An exciting center of businesses, middle-class residences, and innovation all clubbed together, makes it one of the highly recommended zones for potential buyers.


 

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Breezing Past The Powai Valley – An Education, Entrepreneurship and Networking Hub

September 5, 2015

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 …

Breezing Past The Powai Valley – An Education, Entrepreneurship and Networking Hub

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.

My note is less about IIT Bombay and more about the real estate market of Powai. Though IIT-Bombay plays a significant role in the transformation of Powai from a sleepy neighbour of Andheri to a self-sufficient eco system. Today Powai finds its place on the global map of entrepreneurship.

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I take liberty to mention a few successful ventures which are centred in Powai and have spread their roots across India. The Powai we know –

  1. Year 1999-2001 – We were returning by a suburban local after a visit to South Bombay, a curious onlooker asked us “where do you guys study” we said “IIT Powai”, his next remark bamboozled us “why, IIT didn’t you get through VJTI?”. I can never forget this incident as Powai was never thought to be a part of Mumbai. The city thrives on rail connectivity, and the closest railway station i.e. Kanjurmarg is at a distance of 7-8 km from Hiranandani complex. Hence Powai was never thought to be habitable by the usual Mumbaikar. Thus the real estate here was cheap and affordable.

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  1. Year 2001-2003 – The developments at Hiranandani complex were gathering pace. The commercial center of Galleria was nearly occupied and several restaurants viz Great Punjab, Garrys Menu and Garden Grill were serving customers at the Hiranandani market. We students finally could savour some delights nearby in Powai as we would walk it down to Hiranandani in large groups. Nutan parathas or chicken kebabs at Great Punjab were a big hit. A few residential complexes by Hiranandani were now ready and occupied. Powai was gradually breaking apart from the boring architecture and elevations of rest of Mumbai, Powai was becoming Roman. Work on the Jogeshwari Vikrholi Link Road had also commenced as flyover at the Kanjurmarg turn was under development. (Though it was not ready even by our graduation several years later).

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  1. Year 2003-08 – Powai emerged as a great center for employment. Several FMCG and finance firms were making it an office center of choice. Away from the financial centre of Nariman Point, Powai was being lapped up by investment banks for their Knowledge Processing centers – Lehman (later Nomura) and Credit Suisse. Deloitte was also running a full scale development center at Powai. All this resulted in the suburb of Powai becoming a self sufficient market. Hiranandani continued to add to supply of quality residences and the market was now being recognised for clean living, serene surroundings and substantial job opportunities.

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  1. Year 2008-Till now and beyond – Every other day a news paper reports about IIT Bombay fostering a strong cult of budding entrepreneurs. Many of these ventures either run out of Bangalore or Delhi NCR, but several also bloom in Powai, abutting their alma mater. The other day I was sipping coffee at Aromas Café, a coffee shop which has etched itself firmly on networking itineraries of venture capitalists, entrepreneurs and friends. It won’t be wrong to say many term sheets have been signed at this legendary coffee shop.

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The venture capital continues to flow into Indian start-ups while IIT-Bombay continues to churn out entrepreneurs every year. It thereby isn’t wrong to assume that Powai will remain beneficiary of the the employment creation in these new age firms. It all results in more demand for office and residences. And Powai is no more affordable for even middle class. This is why areas such as Raheja Vihar, Chandivali, Vikroli or Kanjurmarg are catering to the expanding job market of Powai. Today Powai is a highly relevant part of Mumbai and can’t be overlooked because of poor rail connectivity. As roads to Powai are wide and ripe with funds!

The Haiko market, Rodas, Meluha The Fern and Breeze Lounge are highly popular in their own regards.

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You are likely to bump into a IIT colleague of yours on a walk down the now busy high street of Powai any time of the day. And for the alumnus the gates of IIT Gymnasium and Staff Canteen are always open!

 

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