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Prop Tiger Navi Mumbai Residential Analysis Jan 2014
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Prop Tiger Navi Mumbai Residential Analysis Jan 2014

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Navi Mumbai, a sister city of Mumbai had seen huge real estate activity in past few years. Two localities within Navi Mumbai - Panvel and Ulwe had shown a lot of promise. But current real estate ...

Navi Mumbai, a sister city of Mumbai had seen huge real estate activity in past few years. Two localities within Navi Mumbai - Panvel and Ulwe had shown a lot of promise. But current real estate scenario in Navi Mumbai is bad as the promised infrastructure is delayed or cancelled.

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Prop Tiger Navi Mumbai Residential Analysis Jan 2014 Presentation Transcript

  • 1. Navi Mumbai “New and Improved”… but yet to shine January 2014
  • 2. Executive Summary • Navi Mumbai was planned to decongest island city of Mumbai • Well planned infrastructure of Navi Mumbai saw relocation of many large corporates such as Reliance Group from Mumbai to Navi Mumbai • Most of the commercial real estate activity and retail development is limited to North Navi Mumbai • In last 5 years, Navi Mumbai has seen prices increasing at 15 - 20% y-o-y. • Prices in South Navi Mumbai driven primarily by many planned large scale infrastructure projects • Most of these projects are delayed which has caused a slow down and piling up of inventory in South Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 1
  • 3. Agenda Navi Mumbai – background and proposed developments Residential real estate in Navi Mumbai Our view on future of real estate in Navi Mumbai Appendix – List of key projects in Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 2
  • 4. Navi Mumbai is planned as a twin city of Mumbai connected by Vashi Sea Bridge Vashi Sea Bridge Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 3
  • 5. Navi Mumbai has 12 nodes divided into two regions – North and South North Navi Mumbai North Navi Mumbai 1 1. Airoli 2. Ghansoli 2 3. Koperkhairane 3 4. Vashi 4 5. Sanpada 8 5 6. Nerul 6 7 9 10 11 12 7. Belapur South Navi Mumbai South Navi Mumbai 8. Kharghar and Taloja 9. Kalamboli and Kamothe 10. Panvel and Karanjade 11.Ulwe 12.Dronagiri Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 4
  • 6. North’s corporate parks are driving residential demand Locality Name Key Facts • SEZ consisting 4 million sq ft of space over 35 acres of land Airoli Raheja Mindspace iGate • Biggest offshore centre of iGate having capacity of 17,000 employees Mahape, Ghansoli Millenium Business Park Reliance Corporate Park • Houses key IT & BPO firms Accenture, Capgemini, Cognizant, L&T, Syntel, Wipro etc. • 2 million sq ft office space spread across 139 buildings • Key occupants Patni, UCX, Mastek , Hexaware Technologies, vCustomer, Datamatics, XL Dynamics • 507 acres campus owned by Reliance Mukesh Dhirubhai Ambani Group • 1.7 million sq ft of operating area housing central office of Reliance Industries • 56 acres campus owned by Reliance Anil Dhirubai Ambani Group Koperkhairane Dhirubai Ambani Knowledge City • Houses headquarters of Reliance Power and Reliance Communications • More than 13,000 employees working in the campus • Houses key chemicals & pharmaceuticals firms Glenmark, Pfizer, Piramal, Rallis, BASF and Zydus Turbhe MIDC • Major publication houses Indian Express, Lokmat, DNA • Industrial firms Schlumberger, NELCO, L&T, Bombay Dyeing, Rolls Royce Marine, Siemens, IOCL, HPCL, Balmer Lawrie, Asian Paints etc. Belapur CBD • Houses several government admin offices such as MTNL, Central Excise, CCI & PWD • Prominent PSU Banks - RBI, SBI, PNB, IDBI, Union Bank Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 5
  • 7. South is yet to see major corporate activity, but holds promise of new infrastructure development • Kharghar in South Navi Mumbai has few offices and educational institutes • 10 storey Siemens India building in Kharghar is a key center of its automation and drives business • NIFT and Tata Memorial Research center are key educational institutes in Kharghar • But no major corporate present in Ulwe, Panvel, Kalamboli and Dronagiri • Proposed developments expected to generate employment • Navi Mumbai SEZ expected to generate employment for 5 lakh – Spread over 5,350 acres in three nodes of Ulwe, Dronagiri and Kalamboli – Expected to attract many corporates due to closeness to JNPT seaport, proposed Rewas port, proposed Panvel airport, proposed Mumbai Trans Harbour Link • Navi Mumbai International Airport itself expected to generate 1.42 lakh direct jobs Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 6
  • 8. Recent pictures of key corporate parks in North Navi Mumbai Dhirubai Ambani Knowledge City, Koperkhairane (56 Acres) Reliance Corporate Park, Thane Ghansoli Road (1.7 million sq ft) L&T office in Mahape Millenium Business Park, Mahape (2 million sq ft) Hexaware Technologies inside Millenum Business Park Konkan Bhavan in CBD Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 7
  • 9. Recent pictures of retail developments in North Navi Mumbai Pictures of local market Pictures of key malls in Navi Mumbai Centre One Mall in Vashi Local market in Vashi Inorbit Mall in Vashi Raghuleela Mall in Vashi Local market in Koperkhairane Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 8
  • 10. Real estate prices have grown at ~15 - 20% yoy in past 5 years BSP (Rs/ sq ft) Vashi 11,500 Nerul 10,500 Seawoods 9,500 Koperkhairane 8,500 Belapur 7,500 Airoli 6,500 5,500 Kharghar 4,500 Kalamboli 3,500 Ulwe 2,500 Panvel 1,500 Dronagiri Oct 2008 Oct 2009 Oct 2010 North Navi Mumbai Micro market Seawoods Koperkhairane Nerul Airoli Belapur Vashi YOY Increase (%) 21% 21% 20% 19% 18% 16% Source: PropTiger Survey Dec 2013 Oct 2011 Oct 2012 Oct 2013 South Navi Mumbai Micro market YOY Increase (%) Kharghar Kalamboli Panvel Ulwe Dronagiri 11% 15% 15% 22% 18% Confidential and for Private Circulation Only 9
  • 11. South is expected to be driven by 5 planned infrastructure projects 1. Navi Mumbai Metro 2. 2 3 1 MTHL Navi Mumbai Special Economic Zone (NMSEZ) 4. NMSEZ,Kalamboli Node Navi Mumbai Airport 3. 3 4 Mumbai Trans Harbour Link (MTHL) Navi Mumbai Metro 5. Belapur – Uran Rail Link NMSEZ,Ulwe Node 5 Belapur Uran Rail Link 3 NMSEZ,Dronagiri Node Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 10
  • 12. Most projects are delayed About • 22 km long sea link to connect Mumbai & Navi Mumbai • Beginning at Sewri and terminating at Chirle Village in Navi Mumbai Launch Date • Announced in 2004 as PPP project Current Status • Bidding failed thrice (last in Aug 2013) due to financial viability concerns, political & regulatory hurdles • Government mulling to adopt alternative to PPP model About • Planned as an alternate to Mumbai Airport, a bigger and swankier airport in Panvel • Passenger carrying capacity 60 mn compared to 30 mn of Mumbai Airport • Spread over 2,268 hectares compared to 610 hectares of Mumbai Airport Launch Date • Launched in 2007 and planned to start operation by 2012 About • Planned on 2,140 hectare land NMSEZ project was expected to generate more than 5 Lakh jobs Launch date • Project got approval of government in 2002 Current Status • Failed to take off and missed 6 deadlines due to land acquisition disputes • Eventually promoters plan to denotify land and develop it as IT park and industrial township with 40% area for residential & commercial • Also a part of land (400 acres) is planned to be developed as education hub Current Status • Project got delayed due to land acquisition issue • Source: PropTiger Survey Dec 2013 Navi Mumbai Special Export Zone (NMSEZ) Navi Mumbai International Airport (NMIA) Mumbai TransHarbour Link Agreement in Aug 2013 for land acquisition and project may start seeing construction in 2014 Confidential and for Private Circulation Only 11
  • 13. Most projects are delayed (Cont’d) Belapur – Uran Rail Link Navi Mumbai Metro About • Navi Mumbai Metro is planned as an alternate to suburban rail network of Navi Mumbai • 5 Lines of Metro have been proposed in Navi Mumbai but only 23.4 Km Belapur – Taloje – Khandeshwar - NMIA route is planned as Priority 1 Launch Date • Received approval in May 2010 and work started in May 2011 Current Status • Work has started only on 9 kms of Priority-1 route (Belapur Taloje – Pendhar). Remaining 14 kms of Pendhar – Khandeshwar – NMIA is on hold • 50% of work is completed and first train is expected to roll on this line by 2016 Source: PropTiger Survey Dec 2013 About • 27 km rail long railway line was conceptualized to improve connectivity to JNPT, Nhava Sheva and NMIA Launch Date • Project was initiated in 1996 but got stuck due to differences in development agencies • Development cost escalated from 500 cr to 1,425 cr • Project was stalled till 2011 when government approved the revised budget Current Status • Rail Link is now expected to get completed by 2015 Confidential and for Private Circulation Only 12
  • 14. Agenda Navi Mumbai – background and proposed developments Residential real estate in Navi Mumbai Our view on future of real estate in Navi Mumbai Appendix – List of key projects in Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 13
  • 15. Recap: North and South Navi Mumbai regions North Navi Mumbai 1. Airoli 2. Ghansoli 3. Koperkhairane 4. Vashi 5. Sanpada North Navi Mumbai 6. Nerul 7. Belapur South Navi Mumbai 8. Kharghar and Taloja South Navi Mumbai 9. Kalamboli and Kamothe 10. Panvel and Karanjade 11.Ulwe 12.Dronagiri Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 14
  • 16. South Navi Mumbai is seeing most new construction Construction Status (No. of Projects) Micro market Under construction Ready to move 1 NIL 35 54 Vashi – Belapur2 2 NIL 27 88 12 1 143 183 Kalamboli Slower developing South New Launches Kharghar Well developed North Upcoming 3 NIL 62 89 Panvel 17 1 111 52 Ulwe - Dronagiri 17 2 181 15 Airoli – Koperkhairane1 Notes: 1. Includes Airoli, Ghansoli and Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 15
  • 17. H1 2013 saw increase in launches - 90% supply is 1-2 BHK # of units 6000 5,562 5,327 Share of BHK in BHK Type total launched units 1 BHK 40% 2 BHK 51% 3 BHK 9% 4 BHK 1% 5,424 5000 4,094 4000 3,338 3,045 3,065 3000 2000 1,101 696 1000 1,492 1,269 1,475 1,046 965 685 1,975 1,904 1,756 1,566 931 532 505 239 5 BHK 4 BHK Source: PropTiger Survey Dec 2013 3 BHK 2 BHK Nov 2013 Oct 2013 Sep 2013 Aug 2013 Jul 2013 Jun 2013 May 2013 Apr 2013 Mar 2013 Feb 2013 Jan 2013 Dec 2012 Nov 2012 Oct 2012 Sep 2012 Aug 2012 Jul 2012 Jun 2012 May 2012 Apr 2012 Mar 2012 Feb 2012 Jan 2012 0 1 BHK Confidential and for Private Circulation Only 16
  • 18. Panvel is seeing maximum new construction # of units Total # of new units across Navi Mumbai regions 40,000 37,040 35,000 30,000 25,000 21,389 20,000 15,000 10,637 10,000 8,339 5,000 3,422 1,379 0 Vashi - Belapur 2 Airoli Koperkhaiarne1 Kalamboli Ulwe - Dronagiri Kharghar Panvel Notes: 1. Includes Airoli, Ghansoli and Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 17
  • 19. Panvel is also seeing development of most large townships % of projects 100% 90% <100 units # of units in a project 100 -200 units 200- 500 units 3% 3% 3% 7% 28% 80% 14% 14% 20% 70% 6% 2% >500 units 12% 3% 27% 8% 18% 8% 60% 50% 40% 80% 70% 30% 65% 77% 66% 65% 20% 10% 0% Airoli Vashi - Belapur2 1 Koperkhairane Kharghar Kalamboli Ulwe - Dronagiri Panvel Notes: 1. Includes Airoli, Ghansoli and Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 18
  • 20. Kalamboli and Panvel have smaller units catering to affordable demand segment Super Area (sq ft) 2,000 Average super area across Navi Mumbai regions 1,657 1,532 1,562 1,500 1,334 1,083 1,083 1,062 1,565 1,387 1,118 1,102 970 1,000 601 610 634 641 645 668 500 0 1BHK 2BHK 3BHK Kalamboli Panvel Ulwe - Dronagiri Vashi - Belapur 2 Kharghar Airoli - Koperkhairane1 Notes: 1. Includes Airoli, Ghansoli, Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 19
  • 21. Current prices in few markets are equivalent to Western Suburbs in Mumbai Basic Sales Price (Rs/sq ft) Nov 2013 Micro market Minimum Average Maximum Vashi 8,600 11,263 14,117 Nerul 5,500 11,245 20,000 Seawoods 10,245 10,715 11,130 Koperkhairane 7,500 10,039 17,023 Belapur 9,000 9,381 10,145 Airoli 7,000 8,009 11,000 Kharghar 4,500 6,730 10,000 Kalamboli 4,300 5,271 6,250 Ulwe 3,500 4,942 7,000 Panvel 2,400 4,284 7,500 Dronagiri 3,400 3,754 4,200 Source: PropTiger Survey Dec 2013 At these price points, units are available in Borivali, Kandivali & Goregaon Western Mumbai Suburbs Confidential and for Private Circulation Only 20
  • 22. Sales have slowed significantly in H2 2013 # of units 30,000 25,000 Total available units and sold units in Navi Mumbai 24,605 24,039 22,586 21,334 21,504 20,467 20,000 19,527 15,000 2,071 10,000 - 54% 5,000 2,071 1,885 1,826 1,547 1,546 1,396 945 0 Apr 13 May 13 Jun 13 Jul 13 Available Units Source: PropTiger Survey Dec 2013 Aug 13 Sep 13 945 Oct 13 Sold Units Confidential and for Private Circulation Only 21
  • 23. This has resulted in rise in inventory, especially in Panvel # of units Break up of inventory across Navi Mumbai regions 10,000 8,826 9,000 8,000 7,000 6,000 5,000 4,081 4,000 2,823 3,000 1,665 2,000 1,000 784 403 0 Vashi - Belapur 2 Airoli Koperkhaiarne1 Kalamboli Ulwe - Dronagiri Kharghar Panvel Notes: 1. Includes Airoli, Ghansoli, Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 22
  • 24. Agenda Navi Mumbai – background and proposed developments Residential real estate in Navi Mumbai Our view on future of real estate in Navi Mumbai Appendix – List of key projects in Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 23
  • 25. We expect price and demand stagnation for next two years • North Navi Mumbai will see limited new launches as the land availability in this region is very low • Resolution of land acquisition issue for Navi Mumbai airport is definitely a positive sign for south Navi Mumbai real estate market • But due to significant delay faced till now, investors and end users are shying away • In addition, physical and social infrastructure such as power connection, roads, schools, hospitals need to be developed for the area to become habitable • We expect infrastructure development at ground level will take another 1.5 – 2 years to start, resulting in stagnation of demand and price in Navi Mumbai realty market Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 24
  • 26. For further details – contact us Ankur Dhawan VP – Information Services and Consulting, PropTiger Email – Ankur.Dhawan@PropTiger.com Ph - +91 9873 9076 67 Kartik Varma Co-founder, PropTiger Email – Kartik.Varma@PropTiger.com Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 25
  • 27. Agenda Navi Mumbai – background and proposed developments Residential real estate in Navi Mumbai Our view on future of real estate in Navi Mumbai Appendix – List of key projects in Navi Mumbai Source: PropTiger Survey Dec 2013 Confidential and for Private Circulation Only 26
  • 28. Key projects in Airoli - Koperkhairane region Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Oct 2010 Dec 2015 7,511 Airoli Green World Akshar Under Construction Apartments 916 1BHK, 2BHK, 3BHK Ghansoli Eleganza Bhagwati Group Under Construction Apartments 268 2BHK, 3BHK May 2013 Mar 2018 9,500 Ghansoli B and M Buildcon Under Construction Apartments 258 Oct 2012 Dec 2016 9,251 Airoli Atlantis Shiv Shankar Heights Aug 2010 Dec 2014 8,000 Airoli Heights Aug 2010 Dec 2014 8,000 Apr 2009 Mar 2014 8,250 Airoli Airoli Ghansoli Airoli Ghansoli Shiv Shankar Under Construction Apartments 174 Shiv Shankar Under Construction Apartments 168 Millennium Avanish B and M Buildcon Under Construction Apartments 167 2BHK, 3BHK 2BHK, 3BHK, 4BHK 2BHK, 3BHK, 4BHK 1BHK, 2BHK, 3BHK Apartments 160 2BHK, 3BHK Jul 2012 Jul 2016 11,000 Signature Heights Pyramid Infratech Under Construction Apartments Mahavir Mahavir Residency Developers Under Construction Apartments 85 1BHK, 2BHK Mar 2012 Jun 2015 8,200 80 1BHK, 2BHK Jun 2012 Dec 2014 8,100 76 1BHK Mar 2012 Jun 2015 8,500 Signia Orion BellaVita Sunteck Group Swaraj Group Source: PropTiger Survey Dec 2013 Pre Launch Under Construction Apartments Confidential and for Private Circulation Only 27
  • 29. Key projects in Vashi - Belapur region Micro market No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Under Construction Apartments 180 Jun 2010 Nov 2013 12,500 Under Construction Apartments 133 2BHK, 3BHK 1BHK, 2BHK, 3BHK Dec 2012 Mar 2016 9,000 Hill View Residency Priyanka Regency Under Construction Apartments 124 2BHK Nov 2010 Dec 2014 10,000 Project Name Builder Name Nerul Sea Queen Excellency National Builders Belapur Pride Juhi Developers Belapur Project Status Project Type Nerul Greens Juhi Developers Under Construction Apartments 72 2BHK, 3BHK Oct 2012 Dec 2014 10,500 Nerul Venecia Platinum Group Under Construction Apartments 70 2BHK Nov 2012 Mar 2015 10,000 Nerul Rattan group Under Construction Apartments 66 May 2012 Mar 2014 11,000 Nerul Icon Radha Balkrishna Niwas Raj Chamunda Oct 2013 Feb 2016 5,500 Nerul Zion I EV Group Jan 2012 Dec 2014 11,000 Source: PropTiger Survey Dec 2013 Apartments 55 2BHK, 3BHK 1BHK, 2BHK, 3BHK Under Construction Apartments 52 2BHK, 3BHK Pre Launch Confidential and for Private Circulation Only 28
  • 30. Key projects in Kharghar region Micro market Project Name Builder Name Launch Date Completion Date BSP (Rs/sq ft) Taloja Garden Kharghar Hex World Enkay Homes Armstrongs Builder Apr 2009 Dec 2014 3,000 Jan 2008 Jun 2016 6,500 2,500 1BHK, 2BHK 1BHK, 2BHK, 3BHK Taloja Greenwood Estate Jul 2011 Jul 2015 2,943 Kharghar Under Construction Apartments 1,600 1BHK, 2BHK Apr 2008 Dec 2017 5,700 Arihant Under Construction Apartments 700 Jan 2013 Apr 2016 3,350 Amar Harmony Gami Builders Under Construction Apartments 392 Jun 2011 Dec 2014 4,650 Kharghar Sai Mannat Under Construction Apartments 338 Oct 2012 Dec 2016 8,400 Kharghar Adhiraj Gardens Paradise Group Adhiraj Constructions Under Construction Apartments 300 1BHK, 2BHK 1BHK, 2BHK, 3BHK 2BHK, 3BHK, 4BHK 2BHK, 3BHK, 4BHK Jan 2013 Dec 2015 7,600 Kharghar Sai Symphony Paradise Group Apartments 288 1BHK, 2BHK Feb 2013 Nov 2016 7,200 Taloja Sai Riverdale Under Construction Apartments 272 1BHK, 2BHK May 2013 Dec 2016 5,100 Kharghar Goodwill Paradise Paradise Group Goodwill Developers Under Construction Apartments 252 Feb 2008 Mar 2014 7,900 Taloja V Residency Vibgyor Group Under Construction Apartments 240 Nov 2012 Dec 2013 2,800 Kharghar Kingdom Shah Group Under Construction Apartments 201 2BHK, 3BHK 1BHK, 2BHK, 3BHK 2BHK, 3BHK, 4BHK Mar 2013 Mar 2017 9,800 No. of Units Unit Type Under Construction Apartments 2,600 1BHK, 2BHK, 3BHK Under Construction Apartments 2,500 Under Construction Apartments Hexcity Space India Armstrongs Builder Taloja Amisha Taloja Source: PropTiger Survey Dec 2013 Project Status Pre Launch Project Type Confidential and for Private Circulation Only 29
  • 31. Key projects in Kalamboli region Micro market Project Name Builder Name No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Kalamboli Amarante Neelsidhi Group Under Construction Apartments 956 1BHK, 2BHK Jul 2010 Dec 2016 4,900 Kamothe Geomatrix Akshar Under Construction Apartments 670 1BHK, 2BHK Nov 2012 Dec 2015 6,600 Kamothe Silver Crest Akshar Under Construction Apartments 610 1BHK, 2BHK Jan 2012 Dec 2015 6,600 Kalamboli Bhoomi Gardenia Gajra Developers Under Construction Apartments 504 1BHK, 2BHK Aug 2010 Dec 2013 6,000 Kalamboli Brookefields Monarch Under Construction Apartments 336 1BHK, 2BHK Jan 2012 Dec 2015 6,250 Kalamboli Imperial Monarch Under Construction Apartments 286 1BHK, 2BHK Jun 2011 Dec 2015 6,250 Kamothe Gardens Tharwani Residency Pratik Enterprises Under Construction Apartments 220 2BHK Aug 2012 Sep 2016 6,000 Under Construction Apartments 185 1BHK, 2BHK Jul 2010 Nov 2013 6,200 Kalamboli Bhoomi Gardenia II Gajra Developers Under Construction Apartments 182 1BHK, 2BHK Jan 2011 Jan 2014 6,000 Kalamboli Karan Valenica Karan Group Under Construction Apartments 180 1BHK, 2BHK Jun 2011 Jan 2013 6,000 Kalamboli Avaneesh Sai Developers Under Construction Apartments 160 2BHK Jun 2012 Dec 2014 4,700 Kalamboli RadheKrishna Integreat Under Construction Apartments 144 2BHK Jan 2012 Dec 2014 5,500 Kalamboli Flora Regency Group Apartments 144 2BHK, 3BHK Oct 2013 Nov 2015 5,500 Kalamboli Phoenix Heights Vision Associates Under Construction Apartments 128 1BHK, 2BHK Oct 2012 Mar 2015 5,500 Kamothe Tharwani Group Source: PropTiger Survey Dec 2013 Project Status Pre Launch Project Type Confidential and for Private Circulation Only 30
  • 32. Key projects in Panvel region Micro market Project Name Builder Name Launch Date Completion Date BSP (Rs/sq ft) Panvel Greens Under Construction Apartments Panvel Akanksha Indiabulls Arihant Superstructures Mar 2010 Aug 2016 6,000 Apartments 2,500 Apr 2013 Dec 2017 4,600 Panvel Aawas Viva Realsales Infra Under Construction Apartments 2,240 Jan 2013 Dec 2015 2,999 2,000 1BHK 1BHK, 2BHK, 3BHK Panvel Balaji Symphony Space India Under Construction Apartments Jul 2011 Dec 2019 6,500 Panvel Marathon Panvel Nexzone Hiranandani Township Under Construction Apartments 1,600 2BHK Sep 2011 Dec 2017 5,421 Hirco Under Construction Apartments 1,550 2BHK, 3BHK Dec 2008 Nov 2017 4,750 Panvel Greenscapes Monarch Under Construction Apartments 1,200 1BHK, 2BHK Jun 2013 Dec 2017 5,750 Panvel Heritage Sudarshan Nirman Pre Launch Apartments Garnet Construction Under Construction Apartments 1,000 1BHK, 2BHK Jun 2013 Oct 2016 3,500 Panvel Brillante 945 1BHK, 2BHK 1BHK, 2BHK, 3BHK May 2013 Dec 2018 5,500 Panvel Royale Meadows Space India Jun 2011 Dec 2013 3,100 Panvel Kritika River View Nagpal Group 1BHK, 2BHK 1BHK ,2BHK, 3BHK, 4BHK Jan 2012 Dec 2015 4,500 Panvel Golf City Dec 2012 Jul 2017 7,019 Panvel Balaji Kalash Jun 2012 Aug 2016 4,000 Panvel Green Acres Dec 2012 Dec 2014 3,500 Project Status Pre Launch Project Type Under Construction Apartments 5,880 650 Apartments 650 Indiabulls Under Construction Apartments 600 Tirupati Balaji Under Construction Apartments 500 Squarefeet Realty Under Construction Apartments 480 Source: PropTiger Survey Dec 2013 Pre Launch No. of Units Unit Type 1BHK, 2BHK, 3BHK, 4BHK 1BHK, 2BHK, 3BHK, 4BHK 1BHK, 2BHK 1BHK, 2BHK, 3BHK Confidential and for Private Circulation Only 31
  • 33. Key projects in Ulwe - Dronagiri region Micro market Project Name Builder Name No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Dronagiri Palacio Dwisha Developers Under Construction Apartments 600 1BHK, 2BHK Jun 2011 Dec 2014 4,000 Ulwe Soham Under Construction Apartments 200 1BHK, 2BHK Oct 2012 Jul 2016 6,000 Mannat Marvels Group Mahaavir Universal Ulwe Under Construction Apartments 168 2BHK, 3BHK Nov 2010 Oct 2014 6,000 Ulwe Bay Bliss Bhagwati Group Under Construction Apartments 165 2BHK, 3BHK May 2013 Sep 2016 6,200 Ulwe Kingston Under Construction Apartments 160 1BHK, 2BHK Jan 2012 Dec 2014 5,851 Dronagiri Dev Luxuria Swaraj Group Devkrupa Enterprises Apartments 160 1BHK, 2BHK Mar 2013 Dec 2016 4,200 Ulwe Palacio Platinum Group Under Construction Apartments 156 Apr 2013 Mar 2014 5,100 Ulwe Sai Sapphire Paradise Group Under Construction Apartments 133 1BHK, 2BHK 1BHK, 2BHK, 3BHK Jun 2013 Jul 2014 5,650 Ulwe Rupa Enterprises Under Construction Apartments 130 2BHK, 3BHK Jan 2012 Jul 2014 5,500 Ulwe Suyash Park Tulsa Namdev Residency 112 1BHK, 2BHK Jun 2013 Oct 2015 5,500 Ulwe Grande vista Ulwe Dev Krupa Tower Bathija Group Today Group Devkrupa Enterprises Source: PropTiger Survey Dec 2013 Project Status Pre Launch Project Type Under Construction Apartments Pre Launch Apartments 110 2BHK, 3BHK Mar 2013 Sep 2017 5,600 Pre Launch Apartments 102 1BHK, 2BHK Apr 2013 Jun 2016 5,500 Confidential and for Private Circulation Only 32