It is raining offers in property markets. Recently we came across the Five 20 Payment plan by Rajesh LifeSpaces on their project Raj Torres at Thane West. While the offer is likely to be over later this month we were attracted by this project and decided to visit the Raj Torres’ site. Even if you remotely know Thane or have travelled on the Ghodbunder Road to Borivali you are unlikely to miss this project’s location. Situated along side the wide Ghodbunder Road just opposite the R Mall, Raj Torres was launched early in February 2016. Excavation at the site is underway and there is lot of construction activity at the site. The company Rajesh LifeSpaces had begun project construction ahead of formal project launch. On the opposite side of the road, R Mall is located at a walking distance. Situated amidst current social infrastructure and amenities at Thane the residents will be able to move around easily for their daily needs and other family requirements once the project is delivered and occupied.
Thane’s Ghodbunder Road gained prominence over the past decade for a variety of reasons. The State Highway 42 as its nomenclature is, links NH3 (Nashik Highway) to NH8 (Gujarat). Once considered away from the Thane station this area today is well served by public transport and roads that can give many Mumbai roads a run for their money. The several flyovers between Eastern Express Highway and Raj Torres’ location allow for fast connectivity by road not only to Thane station but also to several employment centers of Mumbai i.e. Bandra Kurla Complex, Lower Parel, Powai and Andheri. This is also the reason that Thane’s Ghodbunder Road attracted large real estate players to build mega townships in the area. All these factors further accelerated the pace of development of this residential zone. A big benefit is the location of Raj Torres and Raj Tattva (another property nearby by Rajesh LifeSpaces) for these are amongst the first few properties on this road when approaching Ghodbunder from Mumbai.
Payment Plan and Price
By the time we go online with this note this financing offer might not be available but still we will briefly discuss the Five 20 payment plan where by Rajesh LifeSpaces was offering a flexible payment structure. A consumer would have to pay apartment cost in five installments of 20% each – On booking,12 months from booking, 24 months from booking, 36 months from booking and last on possession for fit-outs. At current prices the apartments cost anywhere from Rs.1.14 crore to Rs. 2.25 crore.
In the plans of Raj Torres are 5 wings each of 28 storeys and these habitable floors rise above 1 basement, 3 levels of podium and 1 stilt. 2, 3 and 4 BHK apartments are spread over these 5 wings which are as such separate buildings with 3 elevators each. The smallest 2BHK here is 741 sqft of carpet area making it one of the larger 2BHK configuration available across Mumbai. This is what Rajesh LifeSpaces marketing team has been focusing on in their pitch that their homes provide room for maximisation of living (see in images). 2BHK apartments range from 741sqft to 762 sqft in carpet area. A 3BHK ranges from 986 sqft to 1051sqft in carpet area and a 4BHK is about 1448sqft of carpet area.
Rajesh LifeSpaces is providing a Clubhouse with a swimming pool, a State-of-the-Art Gymnasium and 10 recreational zones of 12,000 sqft which include a Dance Studio, a Classroom and a Creche. Close to 12,000 sq ft. of landscaped gardens will also be a part of the plan. This is what the firm refers to as functional amenities.
Raj Torres is a project approved by relevant government bodies. Work on the site has been on for sometime while the project was in soft launch stage and has received a good response. Only now has Rajesh LifeSpaces gone ahead with a formal launch. Thane for its improved connectivity to Mumbai and relative affordability to Mulund, its closest Mumbai cousin continues to attract upper middle class buyers to project such as Raj Torres. After all a 3BHK here costs the same as 2BHK at Mulund in most cases.