Eastern suburbs of Mumbai are fast growing for variety of reasons which include – improving connectivity, emergence of business centers at Powai and Bandra Kurla Complex (BKC) and new infrastructure initiatives. Amongst these, Mulund has emerged as a much desired location for housing. Traditionally the area was inhabited by people of middle class strata who lived in Mumbai suburbs as these were much affordable in comparison to properties in the island city. However going by the property rates and the plans by various real estate firms, Mulund can’t any long be called as a middle class housing hub. Mumbai’s leading property firms have a presence here and this is only expanding. The one reason that really works for Mulund is that towards Mumbai’s East it is the last stoppage before one enters Thane and ones address changes from that of Mumbai to Thane. For whatever its worth Mumbai address still commands a value. East to West connectivity at Mulund is through the Mulund-Goregaon Link Road at the Eastern Expressway turning which on the other side connects to Airoli in New Bombay. Just when you have crossed the railway lines towards your right there is a large apartment complex Wadhwa Atmosphere which is currently under construction. The project, an SPV of the Wadhwa Group, MAN and Chandak Group, is an apartment complex which is coming on a 14 acre land parcel in Mulund West.
In the phase I the company launched about 600 apartments across 3 towers. These 3 towers will be 37 stories tall and the parking of basement +3 podium levels is altogether a different building. Such design provisions allow for convenient vehicular movements which wouldn’t then interfere with residents movement across the complex. 2BHK, 2.5BHK and 3BHK units are on sale and the sizes range from about 600 sq ft to 1,000 sq ft of carpet area.
At the quoted prices, apartments are anywhere from Rs. 1.8 cr onwards at the lower range. Few things that stand out about the project are cross ventilation in the flats with configuration of 2.5 BHK and 3BHK, now this is a rare feature in Mumbai where most apartments not that airy. Secondly there is a sky lounge with several amenities on the terrace including the gym and barbeque area. Over and above this there is a podium garden over the car park and tennis and basketball courts are on the ground floor. At Wadhwa Atmosphere, every floor has 6 flats and these are served by 7 lifts. Wooden flooring is provided in the master bed room while there is full body vitrified flooring elsewhere in the house.
Wadhwa Atmosphere project was launched about a year back and if you are to visit the site today there are about 500 workers on the site involved in the construction. Work on all 3 towers has begun at the same time and it is encouraging to see a mobilised site. While East to West Link Road is very crowded in peak hours what works well for Atmosphere is that it is the first property into Mulund when accessing from Eastern Express Highway. Moreover Nahur station of Central line of suburban railways is at a walking distance too.
Mulund West has a well-established industrial and social infrastructure. Facilities or offices of firms such as Johnson & Johnson, Hoechst and Glaxo are also located here. Fortis hospital is very close the the project site. And then Mulund also has malls such as D-Mart and Nirmal Lifestyle for shopping and entertainment. One can access Mumbai easily through suburban railways or LBS Marg/ Eastern Express Highway by road. Powai is about 11 km from the project site and BKC is about 18 km. The location and current progress on site is encouraging. Various reports indicate that sales of this project have been good considering weaker markets though we can’t independently verify these numbers. All three partners have a long history of developing quality residences, offices and/ or infrastructure across Mumbai and we think they collectively will deliver on Wadhwa Atmosphere as well.