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Jogeshwari Vikhroli Link Road.
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Project Details
Project : Emerald Isle
Builder : LT Realty
Locality : Jogeshwari Vikhroli Link Road
City : Mumbai
Analysis
Builder & Project Review:
AM Naik's realty gambit: Unlocking value of Powai campus can be big opportunity for L&T
Small wonder then that analysts are taking a close look at Naik's latest — and perhaps last — value-creation gambit. According to property brokers, L&T Realty has already sold nearly 300 apartments at a recently launched residential project called L&T Emerald Isle at the Powai campus.
The project that was initially exclusively for L&T employees at an attractive discount was opened to the public on January 31 at Rs 15,500-19,000 per sq ft. The bookings were closed in three days, says one of the analysts. According to them, the project may reopen soon but with a likely upward revision of 10-15% in prices.
Quick Fact Check:
1. Total Area of Project of 16 Acres
2. Total Blocks: 8 Residential Towers of 30 Storey and Level Elevated Podium
3. Tennis court & Cricket bowling machine with net
4. Yoga and meditation centre & Multi-purpose hall
5. Reading lounge & Golf simulator
6. Children’s play area for different age groups
7. Clubhouse with Swimming pool & Gym
8. Sauna, spa & Jacuzzi
9. Traffic-free podium
Connectivity:
It's next to Hiranandani, opposite Powai lake & very close to L&T Business Park. It's perfect, don't think you can find a better location in Powai. The only hitch is you will have to rely on buses/ autos / your private vehicles for transportation since the closest station is Kanjurmarg which is a good 4 km away. In terms of social infrastructure, you have everything around. Powai as a location works thanks to Hiranandani, Powai. It's amongst the top 3 suburbs of Mumbai and is home to the best restaurants, schools, and hospitals. So that is completely taken care off.
Key distances:
1. International Airport – 6 km
2. Eastern and Western Express Highway – 6 km
3. Bandra-Kurla Complex via Kurla – 11 km
4. Domestic Airport – 11 km
Master Plan:
Coming to the project layout the entrance is from Saki Vihar road and not lakeside, you could experience some traffic jams while entering and exiting. The layout is not ideal and is a major disappointment. Views will be blocked/ compromised on the lower floors since there is a huge Mhada complex on the rear end of the project and L&T business park on the front. Tower 1 is the only tower assured of Powai lake views with the rest getting partial views from upper floors. If you are looking at towers T5, T6, T7 consider lower floors (garden side) it would be better.
Floor Plan:
2BHK: A living space of 20*11 with a separate dining space of 12 * 4 is really good. Both the bedroom sizes are fairly sizes. Approx 145 sq ft master bed and guest bedroom with size 120 sqft will ensure you have decent living space. Kitchen though not ideally placed (right at the entrance is of a good size of almost 90 sqft, there are 2 counter tops which is well planned and there is a separate dry balcony. Overall it's excellent.
3BHK : The 3 BHK’s are even better. In the floor plan above you will note there is a spacious (approx. 48 sqft) deck attached to the impressive living dining space (approx 280 sqft). Again the kitchen of size more than (approx. 90 sqft) comes with 2 counter tops and a separate dry balcony area. Spacious bedrooms and a well thoughtfully planned layout is how we can describe this product.
Our Opinion
Pros:
1. Developer brand name, quality assured
2. Floor plans & amenities are good
3. Delivery timelines as it is L&T project
4. Location and connectivity
5. Apartment sizes
Cons:
1. Layout plan
2. Lack of clarity on the proposed future development
3. Mahada development right next to it to block views
Final verdict:
If you are a young couple, want an investment home, looking to purchase an under construction apartment in Powai go for L&T, if you are still not convinced you to have options like Nahar, Raheja, Hiranandani. Having said that with L&T for you know you will get a good quality product in time.
Project Details
Project : Hiranandani Zen
Builder : Hiranandani Builders
Locality : Jogeshwari Vikhroli Link Road
City : Mumbai
Analysis
Builder & Project Review:
I am soon going to be an unpopular person in Powai. Why? Well, I might just end up saying a few harsh words against Mumbai's number 1 developer.
The reason being the very basic and core fundamentals on which the Hiranandani brand was built (i.e. design, space, trust) are relatively amiss in this latest product offering by this luxury developer; the only constant being premium pricing!
The product was first launched in around 2013 wherein brokers were collecting a booking amount of Rs. 5 lakh; however the developer failed to get the required permissions and the project was stalled. A year later the same product was offered, similar proposition but higher price point. I was one of the eager few who were interested in picking up this product however this is what I found.
Quick Fact Check:
1. 4 towers coming up.
2. 1 BHK carpet at approx. 360sq. ft., 2 BHK approx. 740 sqft.
3. All close to Delphi/ HFS
4. Possession in 4.5 years.
Connectivity:
Well if you ask anyone about Powai, you will realize that this is the most charming and amazing suburb of Mumbai. Bandra, Powai, and Andheri west are the heart of Mumbai where you have the best schools right from Bombay Scottish to Hiranandani school to Sm Shetty to the prestigious IIT and KVIT & NITIE
A walk score of more than 90. Loads of office spaces restaurants and an expats delight. Social infrastructure is unparalleled, you need to deepen you your vehicle, however, autos and buses ply regularly in this township.
This would be ranked as Mumbai’s number 1 township if someone was to carry out a survey keeping in mind its architecture, out of the ordinary urban planning and designs.
Master Plan:
Floor Plan:
First, there are 8 flats per floor, the 1 bhk is actually a mini 1 BHK / 1 room/kitchen (open kitchen concept). Also, this 1 room kitchen has only one bathroom. It's not a master bedroom it’s a 9 * 12 bedroom. Behind ADALIA A & B, and TAMARA Towers, there is pumping station for BMC sewage. See the attached layout plan. It was disappointing.
It seems that the Adalia building is for the government's 350 flats order that would be sold to the low-income group or for rehabilitation. That is why the carpet area is barely 376 sqft hence the affordable prices for the flats in that building so that low-income people can also purchase it.
The 2 BHK’s are much better improved and better layouts, the 2 BHK’s come with a 120 sqft. master bedroom & 100 sqft. the bedroom which is not great. However, you have to live with it. I would rather invest in Nahar projects. That neighbourhood is also coming up very well and very close to Hiranandani, Powai. After 3-4 years, it would really be good
Our Opinion
Pros:
1. The location
2. The developer - It’s Hiranandani!
3. The common amenities
Cons:
1. The Floor Plans
2. The internal amenities could have been better
3. The clubhouse - Wonder why Hiranandani didn't refurbish the old one and build a new one which is shared by so many people
Final verdict:
Well if you have money and you want to live in Powai then go ahead and buy, otherwise, I am not convinced on this from an investment perspective. I feel L&T, Nahar would be better from investors’ perspective.
