A recent report highlights the positive investment potential of the Mumbai realty market

October 17, 2012 By Lodha Web


T he changing profile of Mumbai city has revamped many locations to a massive scale. The recent Investment Advisory Report’ by Knight Frank India identifies the top residential destinations in the country from the investment point of view over the next five years. According to the report, a total of 13 destinations have been identified across various cities of which locations like Ulwe,
Wadala, Chembur are the top three in the list. Gulam Zia- Executive Director- Retail, Advisory & Hospitality, Knight Frank India says: “With property options ranging from 3,200/sq.ft. to 15,000/sq.ft. and investor returns in the range of 18.6% – 29% p.a. residential real estate will emerge as a promising asset class for the next five years. From the perspective of return, real estate
investment, especially in India, has garnered superior returnsin comparison to other asset classes over a long term.” According to the report, Ulwe’s residential property is forecasted to appreciate by 145% over the next five years. Ulwe will benefit on account of corollary commercial activity arising from the upcoming International airport and SEZ land. Ulwe has access to five maj or office markets
within a distance of 22 km. The upcoming Seawood-Uran suburban train network will enhance the access. The report suggests that Wadala’s residential property shall appreciate by 133% during the next five years. With a slew of launches in the pre- mium segment, the perception of Wadala as a residential market

More than 1500 units have already been launched in the last two years in Wadala to tap into this large foreseeable demand and Lodha Group alone has launched 70% of this inventory “The Lodha Group is tapping the potential of Wadala through its marquee New Cuffe Parade project. It is further enhancing the appreciation potential for its customers by launching branded residences with a 63-storey designer tower, Lodha Evoq – yoo inspired by Starck. Also, customers have found great value in the purchase, with us having seen robust sales of close to 800 units since launch,”says Samujjwal Ghosh, Head of Marketing, Lodha Group. Ajmera Realty & Infra India has its project ‘Ajmera I-Land’ at Wadala. Dhaval Ajmera, Director, Ajmera Realty & Infra

India says, “Wadala has seen large growth of infrastructure development over the years. The Maharashtra Government is also taking initiative to provide more infrastructure.” According to Ajmera, connectivity, appreciation and afford-ability as compared to nearby locations woo buyers to this area. Luxurious amenities within the project also play a prominent role in attracting buyers. Ajmera adds, “Wadala is a place with large spaces, surrounded by lush foliage and a peaceful ambience. The high level of infrastructure development around Wadala, which will shoot up property prices in the near future, is one reason why buyers are aspiring to invest in Wadala.” Wadala has the monorail, Anik Pan-jrapol link road, Kurla Santacruz fly-over, Byculla Bridge
and the Masjid bridge. All these flyovers are operational on eastern express highway from the town side to Wadala. Once the monorail comes up, these areas would benefit and develop the most. Known for industrial activities, ‘Chembur’, a suburb located in the eastern part of Mumbai, is today emerging as one of the prime destinations in Mumbai. The report mentions that the residential property in Chembur would appreciate by 125% over the next five years. RNA Corp has their project RNA Continental in Chembur. Manoj John, VP- Corporate Planning & Strategy, RNA Corp says, “Chembur is the greenest and fastest growing suburb and has witnessed large-scale developments in the residential sector over the last few years. The
speedy growth of infrastructure, Santacruz-Chem-bur link road, upcoming monorail connectivity, well connected to Navi Mumbai via Sion-Panvel highway and Thane via eastern express Highway and development in commercial zones has resulted into an upward trend in Chembur. Also, Chembur’s close proximity to Bandra-Kurla Complex and Navi Mumbai is one of the key highlights of the location.” Dr. Samantak Das, Director, Research & Advisory Services, Knight Frank India says, “The city’s real estate market would grow in the northeast direction and as a result we expect Ulwe, Chembur and Wadala to be the biggest beneficiaries of this growth.”