Tattva invites the HNIs, Private Equity Funds, FDI, NBFCs, etc., to partner in our realty projects in Mumbai Metropolitan Regions, Pune and Nashik. The Investment in Affordable Housing, Second Home projects and Redevelopment projects would have attractive return to the risk. The company selects these projects from a slew of opportunities after careful analysis and in-depth due diligence.
These projects are located within 100 kms periphery from Mumbai and in high growth potential and locations like karjat, Ambernath, Panvel, Kalyan-Dombivli, etc. along with the redevelopment project in areas like Western Suburbs, Central Suburbs and Thane, where you can be sure about the steady appreciation. Investors can avail this opportunity by customized options provided by Tattva for investment depending upon your budget.Tattva has expertise in land agglomeration and getting approvals in greater Mumbai area. The Logical and Reasonable Price for overall monetary evaluation of the property has been developed by TATTVA with the wisdom gained over years of practical experience. This is turn helps the investor to buy the properties at the best possible price. As seen in the recent past, properties are appreciating very rapidly; add a touch of land to your portfolio of secure returns, much beyond the conventional investment options.
Before 1945, Andheri was administered by a collector as the 'suburban district'; in that year, the former suburban district was absorbed by Mumbai city as greater Bombay. However, the suburban district was once again revived in about 2000 as the Mumbai suburban district. Today, Andheri is a western suburban location well connected to both the commercial and residential markets as well as western and central suburbs.
Starting from 1935 up to early 1980s, Andheri East boasted of many film studios. Gradually they had to make way for the upcoming development infrastructure such as the Western Express Highway which was constructed in mid-1960. German Remedies was the first pharmaceutical company that was established in Andheri.
Andheri West is largely a residential area, whereas Andheri East has a mixture of commercial and residential areas, including MIDC-SEEPZ (Santacruz Electronic and Export Promotion Zone), Saki Naka (an industrial area), etc.The key milestones have been the development of the industrial area - MIDC and Seepz, secondly the international airport enabled the rapid development of the hospitality sector in its vicinity which eventually attracted Indian as well as MNC giants and thirdly construction of the world bank funded Jogeshwari Vikhroli Link Road (JVLR) eased accessibility to MIDC and Seepz.
Andheri had gained prominence due to lower rentals and proximity to business districts like new CBD & BKC. During 2002-2004, Andheri commanded a rental of Rs 65-75 per square feet (PSF). However due to strategically located office developments and more specifically the ones on Western Express Highway or closer have seen higher rental and capital values. Some of the most noticeable developments are Landmark, Kanakia Boomerang, P&G plaza, Rustomjee plaza, Satellite corporate park, Eutopia, Technopolis Knowledge Park, etc. During the peak years of 2006-2008 rentals went up to Rs 105-180. With recessionary conditions setting in rentals stabilized due to the large supply and vacant stock.
The Andheri micro-market has one of the largest inventories of grade ‘A’ stock in the city. From 2004 most of the supply which came in were grade ‘A’ developments with large floor plates catering primarily to the BFSI and IT/ITES sector. The micro-market has a grade a stock of 8.17 million square feet. The micro-market is also witnessing large construction activity in the commercial space. Grade ‘A’ space of 3.4 million square feet is expected in the next one year.
The current grade ‘A’ vacancy level in Andheri is 25 percent primarily due to the large supply over the years. However, many corporate have set up space in the micro-market due to its competitive pricing proximity to the airport and upcoming infrastructure projects like Mumbai's first metro line.
Even while the commercial office space was in nascent stage of its development, the residential market was growing at a steady pace. In the last 5 years, Andheri has seen a number of major residential projects with some of the major national and regional developers completing their projects. In the same time, the values of these projects have also started to see a steady growth and have seen as much as 30-50 percenthikes in capital values. There has been a growth in gated residential community with large apartments in the range of 900 - 1,600 sq. ft.
The locations inherent advantage of distance and ease of travel has ensured that values of property witnessed regular increment. Capital values for high end apartments in the micro-market in 2008 was anywhere between Rs 9,000-13,000 per square feet, while today it commands anywhere between Rs 12,000-18,000 PSF. This is close to a 36 percent hike over the period. Mid-end capital values also saw a 53 percent rise in the same time.
Several years after New Delhi, the country's political capital, witnessed a transformation with the implementation of the Delhi Metro, the financial capital of Mumbai is set to experience a similar phenomenon with the imminent commissioning of the Versova Andheri-Ghatkopar (VAG) corridor of the Mumbai Metro. With equity participation from Reliance Infra and Veolia (a French transportation major), this PPP initiative has all the hallmarks of a game-changer for the city's transportation and realty landscape.
Many facts about the VAG have already been well documented: A project investment of $720 million, a fleet of 16 rakes with 4 fully air-conditioned coaches with an individual capacity of 375 passengers, travel time reduced to 21 minutes from the current 90 minutes between Versova and Ghatkopar - and of course, improved East-West connectivity. However, the impact on the Mumbai realty market is likely to be far more pronounced.
Transportation infrastructure economics have historically proven to have a positive impact on real estate values in a city like Mumbai - residential and commercial properties located close to transportation infrastructure tend to command a premium. Independent analyses of pricing reveal that proximity to a Metro station can single-handedly account for a 22 per cent variation in land values, the other factors being location, distance of the land from the central point and income groups.
On the back of the execution of a string of surface transport infrastructure projects - viz. the Jogeshwari-Vikhroli Link Road (JVLR), the Santacruz Chembur Link Road (SCLR) and the Wadala-Chembur Monorail - the VAG corridor will further stoke the already buoyant Mumbai realty market.
Each of these transportation infrastructure initiatives have had a tonic effect on the adjoining realty micro markets - for example the expected implementation of the Monorail had pumped up property prices in Chembur and Wadala by more than 100per cent in a short span of 4 to 5 years. This also applies to the SCLR, with which the Chembur micro-market again witnessed a perceptible price rise due.
Developers' interest in projects near the Metro has been increasing since the start of construction. With the commencement of the project, the surrounding region will definitely experience a certain boom in terms of new offerings and price hikes. Rates on both the commercial and residential market will increase, as the properties of northern SBD, BKC and SBD central are the most preferred location for investors.
Intra and inter-connectivity in SBD North and the Eastern suburbs will increase tremendously, given the capacity of 7 lakh passengers per day added by the Metro. Concurrently, East-West connectivity will benefit the maximum by this project, which will reduce the burden on JVLR and SCLR (the current East-West corridors).
Travelling to the Eastern suburbs and Navi Mumbai from the Western suburbs and SBD North and back will become faster and more convenient. Among the series of mega-projects such as the Eastern Freeway, SCLR and Monorail in the past one year, the Metro is the biggest so far. The combined effect reflect positively on Mumbai's real estate market - the residential and retail markets in Andheri, Jogeshwari and Ghatkopar will witness tremendous growth, especially those near the Metro stations.
Long-term value capture would be possible through increase in FSI. If the proposal of granting FSI of 4 to areas near the Metro is approved, it will have a far-reaching impact and potentially transform the entire landscape of areas surrounding the Metro.
The micro market has witnessed a few launches in the past and has witnessed large construction activity in the residential segment. Demand has however slowed down in the segment largely due to high price points and the economic slowdown. Other factors such as high inflation and mortgage rates have had a further impact slowing demand. This has led to high inventory levels with the developers.
The high input costs along with high interest's rates have resulted in developers failing to cut prices at these developments. Regulatory issues have also slowed down the number of new launches in the city. Brihanmumbai Municipal Corporation (BMC) has issued new development control rules (DCR) for the city. According to the new guidelines developers will have to pay a premium of extra FSI resulting in an increase in cost.
Developers have also had to modify plans in line with the new regulations leading to further delays. However there are a few locations which have performed well in the micro-market. Jogeshwari-Vikhroli Link Road has been quiet active and has had a number of new launches in the near past. Chandivali has also performed well primarily due to its proximity to Powai at relatively lower price points.
|Price per sq. ft.||Upper range||Average||Lower range|
|Jan - Mar 2009||7700||7350||6800|
|Apr - Jun 2009||8000||7500||6800|
|Jul - Sep 2009||8200||7700||7250|
|Oct - Dec 2009||10800||9000||7700|
|Apr - Jun 2010||9900||9050||8400|
|Jul - Sep 2010||10800||10000||9200|
|Oct - Dec 2010||11750||10650||9950|
|Jan - Mar 2011||11750||10850||10000|
|Apr - Jun 2011||12400||11300||10400|
|Jul - Sep 2011||13400||12000||10950|
|Oct - Dec 2011||13450||12000||11200|
|Jan - Mar 2012||13550||12500||12500|
|Apr - Jun 2012||14600||13200||12150|
|Jul - Sep 2012||14600||13250||12250|
|Oct - Dec 2012||15500||14100||12950|
|Jan - Mar 2013||15700||14450||13400|
|Apr - Jun 2013||15350||14100||13000|
|Jul - Sep 2013||16000||15000||13900|
|Oct - Dec 2013||16900||15600||14400|
|Jan - Mar 2014||17000||15800||14600|
|Apr - Jun 2014||17500||15900||14600|
|Jul - Sep 2014||18300||16750||15000|
Improvement of the infrastructure could play a huge role in driving demand in the Andheri micro-market. The Andheri East Residential property rates have been around Rs. 16750 per sq. ft. on an average with a range of 15,000 to 18,300 per sq. Ft. in the last quarter.
Andheri East has number of residential projects developed by prominent builders including
Recreational Facilities, Multi-Purpose Hall, Children's Play Area, Grand entrance Lobby Terrace Garden will let you enjoy the fine art of living!
|Type||BHK||Size (sq. ft.)||Price(Rs.)||Rs Per Sq. Ft.|
|Multi-storey Apartment||2 BHK||1550 sq. ft.||Rs. 2.79 Cr.||18,000|
|Multi-storey Apartment||2 BHK||1950 sq. ft.||Rs. 3.51 Cr.||18,000|
|Multi-storey Apartment||3 BHK||2225 sq. ft.||Rs. 4.05 Cr.||18,000|
|Multi-storey Apartment||3 BHK||2355 sq. ft.||Rs. 4.24 Cr.||18,000|
|Multi-storey Apartment||4 BHK||2550 sq. ft.||Rs. 4.59 Cr.||18,000|
|Multi-storey Apartment||4 BHK||3035 sq. ft.||Rs. 5.46 Cr.||18,000|
Vasant Oasis is getting developed on Ex-Borosil factory land of 5 acres at Marol with facilities such as Clubhouse, Tennis court, swimming pool, jogging track, located in proximity to the Andheri_Kurla Road business hub, a few minutes’ drive away from the airport and has connectivity via the Western & Eastern Expressway. Spacious, well-appointed apartments, whispering west winds over the city panorama, serenity within all make for an ideal residential address. The property will be given possession by December 2016.
|Type of Apartment||Built-up area||Per Sq. Ft.||Price range|
|2 Bed||862 - 1425 sq. ft.||14,385||Rs.1.24 - 2.07 Cr|
|3 Bed||1253 sq. ft.||14,445||Rs.1.81 Cr|
• There has been an urgent need to of urbanization to new cities as metros are overdone with excess population, inadequate infrastructure and congestion. The expansion of the Mumbai Metropolitan Region has led to the development of the Eastern Mumbai District (EMD). Its close proximity to Mumbai and upcoming infrastructure projects has created a strong interest in the area.
• The Delhi-Mumbai Industrial Corridor paves the way for interstate connectivity, global investment and regional development. This project will generate employment in the manufacturing and processing sectors hereby growing the demand for an industrial hub.
The economic benefits of air ports are tremendous. They include employment generation, tax payments, a major contribution to the travel and tourism industry and regional economic growth. Airports provide access to international business opportunities and are regarded as an important element of infrastructure. Proposed international airports in Navi Mumbai and Pune are strategically aligned to develop regional connectivity and economic growth in the EMD.
The Navi Mumbai airport promises to act as catalysts for local economic development. Their ability to generate jobs and attract new business is being used in many locations as a justification for public investments in new airport construction and expansion. Anticipation of new business activity also calls for appropriate land planning. Activities immediately adjacent to commercial airports typically includes services directly supporting operation of the airport (flight kitchens, aircraft maintenance services), services for airline employees and passengers (hotels, restaurants and additional car rental facilities), and airport-related freight services (shipping, freight forwarding, customs and sometimes a foreign trade zone).These types of activities are often located on adjacent land reserved for such uses. They typically start within a year of airport opening. For each of these three types of activities, the employment level is directly proportional to the corresponding magnitude of the airport function as an aircraft servicing centre, a passenger flight endpoint, or a freight origin or destination.
The MMRDA has earmarked EMD as a future center of growth. The 126km long, 12 lane highway project to be built in the Virar-Alibaug corridor. It is expected to cut down travel time between the two destinations.
It will connect NH-8, the Bhiwandi bypass, NH-3, NH-4 and NH-4B, Mumbai-Pune Expressway and NH-17. This corridor will carry all the traffic from JNPT towards Navi Mumbai and Thane outside the city and will help reduce traffic congestion within the city.
The EMD is ideally located midway between Mumbai, India’s financial capital and Pune. A host of recent infrastructural developments, in the housing sector and spaces for further expansion, gives the creation of educational infrastructure. The area already includes to a host of many engineering, pharmacy, medical, management, advertising and hospitality colleges which are affiliated to the University of Mumbai, in addition to internationally renowned institutions like the Cambridge International Academy.
Karjat being in the District of Raigad is a fast growing to the needs of Second homes /Holiday Homes and presently it has been moving focus to the low income utility users due to the development of infrastructure being planned for the future.
The nearest airports are Mumbai Airport and the Navi Mumbai International Airport (under Construction). The Nhava Sheva JNPT Port is the nearest seaport. Distance of Proposed International Airport is 35.0 km.
Karjat is accessible via following highways.
Karjat railway station is a major rail terminus, connected via local trains to Chhatrapati Shivaji Terminus Mumbai, Khopoli and Panvel.
The railways have announced their intentions to divert long distance trains from the current Thane-Dadar-CST routing to Karjat-Vashi-CST routing. The broad gauge track started between Karjat and Panvel, allows the Harbour railway line to extend up to Karjat. Pune Highway, Nasik Highway, Goa Highway, Mumbai-Pune Expressway, other state highways are well connected to Karjat. The development of the four-lane State Highway 38 (from Chowk to Karjat) and State Highway 54 (New Panvel to Bhimashankar) will augment accessibility to this region. The proposed construction of the trans-harbour link between Sewri and Nhava will reduce the distance and offers faster connectivity to Karjat vide the state highway - 38 which starts at Nhava and winds its way to Karjat.
The cosmopolitan nature and the employment opportunity in the city have resulted in the influx of people from urban areas. Growth of educational, Bollywood and other knowledge based sectors have significantly contributed to the large-scale influx of employees to the city from different States of India. As a result, unlike in most other metropolises, the bulk of influx of population is from the urban areas,
This continued influx of working population to the City and lack of adequate response of the Government to meet the growing housing needs have gradually widened the demand-supply-gap resulting in exponential increase in capital values of residential units making ‘less affordable’ to buy a home for large segment of the population. This has resulted in increasing demand for rented accommodation both in terms of volume and price. At present, due to the pace of urbanization, rental housing has provided much needed ‘room for maneuver’ for individuals and households and also responsive to changes in individual and household life-cycles and is an asset for tenants as well as landlords.
Three consequences are particularly significant, viz. a) access to affordable and well located rental housing is influential in determining the extent to which new migrants are able to secure an economic foothold in the city and consolidate their urban status; b) a majority of individuals and households progress from renting to owning, with a significant proportion going on to produce accommodation for rent - in doing so, developers are not only putting their assets to productive use but are also providing a service to tenants; and c) rental accommodation is critical for those who do not intend being permanent urban residents.
Industrialization in and around Karjat has in the last decade taken pioneering steps to promote industrial growth in the city due to soaring real estate costs and overcrowding in Mumbai, there is a influx of Mumbai industrialists who are planning to relocated the hi-tech aspects of their businesses to the city.
Due to the infrastructure being planned in electronics, information technology and has resulted in significant in-migration of intellectual / knowledge population from various parts of the country.
There are various proactive measures taken up by the MMRDA in augmenting & expanding the city physical infrastructure and developing major infrastructure projects to encourage overall economic development. The following table summarizes salient features of some of the major infrastructure projects in the city.
|Sr. No||Name of the Infrastructure||Development Phase||Location|
|2)||Virar Alibaug Corridor||planning stage||Virar|
|3)||Delhi Mumbai Industrial Corridor||planning stage||Mumbai|
|4)||Panvel Bhimashankar Pune Express Way||70% work completed||Panvel|
|5)||Karjat Murbad Road||4 lane development||Karjat|
|6)||18 Hole Golf Course||in completion||Karjat|
Economy of Karjat has been driven by IT & ITES sector, and other industries as well as in educational institutes, research colleges, etc, resulted in large immigrant white collar population and also opened avenues for many real estate developers to build large scale developments across the city-commercial, residential, retail, hospitality etc.
Residential developments have been targeting primarily the middle and upper middle segments. In-terms of physical growth, most of the existing development have been witnessed along the corridors having significant presences of activities.
Glitters with large flowing streams of Ulhas river. It offers breathtaking sights during the monsoons, when the water falls gush through the thick greenery of the valley. There are a number of tunnels in the Ulhas valley, which helps the trains to pass through the valley.
This ghat has a historical significance. It was the ancient trade route connecting the ports at Choul, Revdanda, Panvel, etc. on the Konkan coast and the hinterland on the Deccan plateau.
Karjat is well known for trekking because of its hideous valley routes and slopes. Villages, where trekking is advisable are Khandpe, Sandshi and Kondiwade.
This temple is located in Sandshi. The beautiful architecture of the temple makes it a favorite tourist spot.
This cave is famous for trekking. Its characteristic long and strenuous stretches make it a challenging trekking adventure. However it is advised that an expert should accompany a trekking trip in this cave. This cave stands facing the Ulhas Valley at an altitude of 600m. This cave is religious for many Hindu devotees. On the day of Chaitra Purnima a fair is held in the area.
Nakhind is a hill, that a stand at an altitude of 704m high. This hill is marked by the flawless view of the ghats.
This magnificent massif stands at a height of 790m. Chanderi is joined to a group of “four pinnacles” called Mhasmal. A cave at the base of Chanderi is famous for one-day trekking.
Located in the Sajyadri ranges, Bhimashankar is a huge massif, with a thick reserve forest. It stands at an altitude of 1005m. At the top of this massif, there is a huge plateau where the Bhimashankar town and the Bhimashankar temple are situated. Bhimashankar is a popular pilgrimage spot, since the Bhimshankar templem dedicayed to Lord Shiva is one of the 12 Jyotirlingas of Shiva. The highest point of the massif is Nagphani, because it looks like the hood of a cobra from a distance. The Bhima river originates from here and flows down towards the Deccan.
An interesting conical hill, Peth offers a spectacular view of a thumb like pinnacle. The pinnacle is a fort, and is known as Kotligad. Peth offers breathtaking views of the Konkan Country side, Western Ghats and Matheran Ranges.