An Idea Whose Time Has Come: AffordableHousing in PalgharStudy of Residential Real Estate Development in Palghar by Master SunConsulting pinpoints to the sudden spurt in residential real estate supply in the areaand an increasing demand/absorption of the same.With the opening of much-awaited 63-km Virar-Dahanu railway line expected in 2011, the area is witnessing atremendous surge in real estate activity esp. in the affordable housing segment . Themost notable project is the recent launch by HDIL in Palghar ( 160 acres comprisingof 20,000 flats)Palghar is the first important town on the suburban railway network after Virar.Therefore it is a residential option for people who work in Vasai-Virar belt. Asignificant part of the Palghar town residents commute to Mumbai daily to make aliving. Currently the commute is quite time consuming and inconvenient as it takesaround 90 minutes to commute between Palghar and Borivali. With the expectedstart of the Virar-Dahanu line, it will become very convenient to live in Palghar andwork in Virar/Vasai. While most of the 15-18 lakh people live in dense villages,Palghar town is seeing some good real estate industrial and residentialdevelopment.According to Sarvajeet Chandra, Managing Partner, Master Sun Consulting “Theprofile of Palghar resident who are shifting to townships and flats are very varied.They may include SME Owners of units in Palghar/Boisar and their employees,residents of villages close to Palghar town who have sold off their land/bungalow,Government Officials in Palghar Taluka. An interesting trend is that some retiringcouples from Mumbai have also started buying real estate in Palghar on account oflow cost of housing and living. Also e a small but a significant set of investors havestarted buying into Palghar. Most developers are promising an appreciation of atleast 500-750 psqf in 12-18 months”.Sarvajeet feels that “Palghar is a good area for spending weekends once in a while.Therefore Palghar & Boisar is also an appropriate location for those planning toinvest in second homes”. Second home seekers from Mumbai (Western Suburbs)and industrial zones of South Gujarat (Vapi, Valsad & Surat) have also startedbuying into Palghar.Most of the residential development in Palghar is being done around Tembhodespecifically near Dandekar Colledge and Satpati Road. This area is stretches 3-6 km
of Palghar railway station. It is not possible to acquire large tracts of land close toPalghar station and therefore Tembhode is a preferred area where land can beacquired. Besides Tembodhe area is close to some schools and colledge (esp.Dandekar colledge). So the hub of development activity is the Tembodhe region ofPalghar town. This region is also close to Palghar-Boisar road.The o affordable housing projects are priced in the range of Rs. 1500- Rs. 2000 persquare feet. Some of the notable projects areHDIL, Palghar (W), is the project which has caused the maximum excitementis the launch of an affordable housing township by HDIL. They have plannedan integrated township development of 160 acres comprising of 20,000 flats,retail, school and other amenities. Their first phase comprising 5000 flats hasbeen launched and is getting a good response.Haware Nakshatra. Tembhode, is an affordable housing initiative byHaware Builders comprising of 1RK, 1BHK and 2 BHK apartments. HawareNakshatra is 3 km from Palghar Railway station and about 8 KM from KelwaBeach. With around 800 units, the project plans to give possession fromDecember 2011.Genesis Township, Rokadia Group, Palghar(E) is developing anintegrated industrial township at Palghar. The project is very close toPalghar-Boisar road and thus is well connected to both Palghar & Boisar.The project is between Palghar and Boisar and is actually close to UmroliRailway station. The 150 acres Mixed Use Township at Palghar hasindustrial, commercial and residential development. The primary focus ofthis township is to sell industrial galas and industrial plots.The residentialtownship „Indigo Riverside‟ is spread over two lacs square feet. The projectis divided into three phases. The possession for the first phase starts byMarch 2011 & third phase possession by December 2012.Mahavir Garden, Tembhode Post,is a residential project launched byMahavir Developers comprising of close to 900 flats has been launched.The configuration of flats is 1 BHK & 2BHK . There is a plan for a few retailshops, but apart from that no amenities are being provided.
About Master Sun ConsultingMaster Sun Consulting is a strategy execution firm. Master SunConsulting not only helps develop strategy but also gets activelyinvolved in implementation. It is our ability to execute and ensure greatbusiness results that differentiates us.Master Sun Consulting helps youtake your business to the next level.Master Sun Consulting has a division to specifically focus on the realestate & hospitality segment. In the real estate domain we providemarket analysis, feasibility studies, concept development, sales andmarketing strategies and implementation ,focus groups and qualitativeresearch, brand building strategy and other related services.Contact UsSarvajeet Chandra+91 9920803060,firstname.lastname@example.org@gmail.comVisit Uswww.mastersungroup.comwww.facebook.com/strategyexecution