Plans for the new year

January 19, 2013 By Lodha Web

Developers across the city have a detailed outline ready for 2013 in terms of their projects to be completed and launched, reports NISHA SWAMI
Real estate developers in Mumbai expect this year to be favourable for the industry, with the help of various government policies and schemes.They have been gearing up for the new year, with plans for new projects that would appeal to home buyers. Lodha Group plans to launch several new projects this year. Samujjwal Ghosh, Head of Marketing, Lodha Group says, “We made some prominent acquisitions this past year including the Mumbai Textile Mills property in Worli and the Washington House property on Altamount Road, which we look forward to launching in the coming months. At the same time, you’ll see ongoing development of our new city centre project – New Cuffe Parade.” The group will also continue to bring the best of luxury living in the city and are committed to inclusive and holistic development as can be seen in Dombivali. Successfully completing projects within a given timeline and ensuring each project gives buyers a unique experience; this is the motto of Ajmera Realty & Infra India Ltd. Dhaval Ajmera, Director, says, “We are planning on premium luxurious 4 BHK projects in Wadala and affordable housing projects in Borivali and Kalyan.” The Nahar Group plans to launch Burberry and Bryony, premium projects at Nahar’s Amrit Shakti. These are two luxury towers offering 3 BHK apartments along with a beautifully landscaped podium and state-of-the-art clubhouse. Apart from giving importance to modern amenities in their residential projects, the Nahar Group has widened its scope and will begin its academic year at the Nahar Education Foundation School in 2013-14. Importance will be given to state-of-the-art technology which will aid easy learning for children. Sukhraj Nahar, Chairman and Managing Director, Nahar Group says, “Apart from sourcing the best experienced faculty we are also conducting scientific research on teaching methodologies adopted across the globe.” Omkar Realtors and Developers Pvt Ltd have kept in mind the various needs of buyers and accordingly prepared a list of both ultra-luxury projects and value-for-money projects in the city. Devang Varma, Director, Omkar Realtors and Developers Pvt Ltd says, “Our ultra- luxury project will be located at Worli and the value-for-money projects are at Goregaon and Chembur. We are also looking at expanding our reach to the outskirts of Mumbai.” According to the Knight Frank Investment Advisory Report 2012, Ulwe, Wadala and Chembur have been listed as the top three destinations from an investment point of view over the next five years. Ghosh adds, “The prime destination of the future will be one which gives residents the benefits of staying in this mega-city and yet liberate them from the city. The availability of employment opportunities and social infrastructure like availability of healthcare, reputed educational institutions and organised retail are also key factors.” He believes that Wadala will benefit hugely due to its proximity with the premium business districts of Bandra-Kurla Complex as it is the only confluence of the transport systems of the monorail, metro and the Eastern Freeway, further enhancing its connectivity. Moreover, efforts being put in by nodal agencies for building city centres in BKC and Wadala – the future financial centres – and develop futuristic destinations will shape the changing face of this city. Locations towards the North-Eastern borders of the city around Dombivili also make for excellent destinations for investments owing to better connectivity by suburban train networks and a vibrant social
infrastructure coming up in the affordable segment. Ajmera also believes that Wadala is going to be a prime location to invest in property. Good connectivity, centrally located, best opportunity for business growth, impressive infrastructure and large scope of development are some of the reasons he cites. Varma says, “Select projects fulfilling an aspirational lifestyle with value proposition in Mumbai’s suburbs will continue to be favoured destinations across 2013. Select innovative luxury projects in South Mumbai should also offer good prospects.” According to Varma, emerging and developing locations on Mumbai’s periphery and surrounding regions like Panvel, Thane, Navi Mumbai, Mira Bhayandar and Vasai – Virar hold strong promise. Nahar says, “Keeping 2013 in mind, I wouldn’t be wrong in mentioning that Chandivali would be one of the hottest destinations. South Mumbai suffers from scarcity of land and North Mumbai is yet far (until the time we have infrastructure supporting connectivity). Chandivali, which is off Powai, scores high in terms of connectivity to both Eastern and Western corridors. Moreover, the infrastructure for a holistic life is very much in place. With superior product offerings, if one measures the cost-benefit ratio, Chandivali will surely tilt towards a better lifestyle at ‘notpinching’ costs.” Ramesh Nair, Managing Director – West, Jones Lang LaSalle India says, “With better clarity on the new DCR regulations, 2013 will see more projects launch on schedule, with an implied assurance that developers will focus on meeting the committed timelines.”