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Confidential – Private Circulation Only
Thane – City of Lakes and High Rises
April 2014
1Source: PropTiger DataLabs March 2014
Statement of Limiting Condition
• The conclusions and recommendations made by Proptiger in this report are based on the information
collated through secondary research, our knowledge of the industry and discussions with industry
experts. Proptiger has taken due care to validate the authenticity and correctness of the information
from various sources, however, no representations or warranty, expressed or implied, is given by
Proptiger or any of its respective officers, employees or agents as to the accuracy or completeness of
the information, data or opinions provided to Proptiger by third parties or secondary sources.
• Nothing contained in this report is to the contrary and in no event shall Proptiger Realty Pvt. Ltd be
liable for any loss of profit or revenues.
• Neither Proptiger, nor their promoters or employees accept any liability for any direct, consequential
or perceived loss arising from the use of this document or its contents. In no event Proptiger Realty
Pvt. Ltd shall be liable for any direct, incidental, consequential damages by any user of this report.
• This document is strictly private and confidential and has been prepared exclusively for Monarch
Properties. The information contained here is proprietary and no part or portion thereof may be
repeated or otherwise reproduced, published or used without specific permission from Proptiger.
2Source: PropTiger DataLabs March 2014
Methodology
We leverage multiple sources for analyzing current residential market and recommending
right product mix for our clients
• Industry leading Proptiger Real Estate Database – we capture more than 50 attributes of all
projects we have in our database (more than 30,000 projects) which include and not limited to
total units split by configurations, price movement, absorption over time period, project size,
tower configurations, specifications, amenities, floor plans etc.
• Customer interaction through Proptiger.com – we analyze visitors to our website in terms of
projects viewed in a locality, interest showed on configurations, price affordability etc.
• Our field surveyor team regularly meets builders and agents to understand underlying trends in
the market
• Our sales team is our ears to the end customers who provide us inputs into what is customer
actual need in a locality
3Source: PropTiger DataLabs March 2014
Executive Summary
• Thane is well connected to Mumbai and Navi Mumbai through road and rail networks
• Successive movement of IT/ITES and other services companies to Thane and North Navi Mumbai fuelled
residential demand in Thane
• Thane properties which were available at affordable rates of Rs 4,500 per sq. ft. in 2008 doubled up to Rs
9,200 per sq. ft. in 2014
• Rising prices pushed affordable residential development to micro markets beyond Thane key amongst them
are Dombivali, Kalyan, Bhiwandi and Badlapur
• Though Thane continues to be the largest residential market, recent quarters have seen more units being
launched in markets beyond Thane
• 2013 turned out to be damp year for Thane when prices grew only by 6% and sales slowed by 25%
• Start of 2014 has been positive for Thane market reflected in excellent sales visible in recent pre launches
4Source: PropTiger DataLabs March 2014
Agenda
Thane – background and infrastructure
Residential real estate in Thane
Our view on future of real estate in Thane
Appendix – List of key projects in Thane
5Source: PropTiger DataLabs March 2014
Thane located in north of Mumbai is well connected to island
city through road and rail networks
Navi
Mumbai
Thane
Mumbai
Key road network
• 24 kms of Eastern Express Highway
connects Thane to CST in South
Mumbai
• Eastern freeway further shortens
travel time from Thane to South
Mumbai by 40 minutes
• 20 km Ghodbunder road connects
Thane to Western Expressway
Rail Network
• Thane lies on central line and is 45 –
50 minutes away from CST
• Thane is also connected to Navi
Mumbai through Thane-Vashi-Nerul-
Panvel line
• Ghatkopar-Mulund metro line is
expected to be extended to Thane in
future
Thane Junction
6Source: PropTiger DataLabs March 2014
Thane has thriving social infrastructure with several malls…
Viviana Mall, Thane West
Korum Mall, Thane West
Eternity Mall, Teen Hath Naka
Hypercity, Ghodbunder Road
Lake City Mall, Ghodbunder Road
Metro Junction Mall,Kalyan
7Source: PropTiger DataLabs March 2014
…And multiple high quality schools and hospitals
Hiranandani Foundation School,Patlipada,
Off Ghodbunder Road
Bethany Hospital
Billabong International School, Wagle Estate
Hiranandani Hospital, Ghodbunder Road
St. John High School, Thane
Jupiter Hospital, Eastern Express Highway
8Source: PropTiger DataLabs March 2014
Thane economy is increasingly driven by services companies
Ashar IT Park, Wagle Estate, Thane
(1 million sq ft)
Sun Infotech Park, Wagle Estate, Thane NITCO Biz Park, Wagle Estate, Thane
(3.5 lakh sq ft)
Neptune Elements IT Park, Wagle Estate,
Thane (1 million sq ft)
TCS, Yantra Park, Thane West Emerson, Wagle Estate, Thane
9Source: PropTiger DataLabs March 2014
Proximity to IT parks in Navi Mumbai also contributes to
residential demand in Thane
Raheja Mindspace,Airoli
(4 million sq ft)
Dhirubhai Ambani Knowliedge
City, Koperkhairane
(56 Acres)
Millenium Business Park,
Mahape
(2 million sq ft)
Reliance Corporate Park,
Ghansoli
(1.7 million sq ft)
L&T office,Mahape
10Source: PropTiger DataLabs March 2014
City
Under
Construction
Units
Units expected to
be delivered in
2014
Unit Sales
(2013)
Unsold
Inventory1
Unsold
Inventory2
(%)
Navi Mumbai 78,810 24,686 16,272 20,132 20%
Thane 127,556 36,524 21,471 32,834 33%
Rest of
Mumbai3
193,730 40,731 36,488 48,348 49%
Total MMR 4,00,096 1,01,941 74,231 1,01,314 100%
Note: 1. Includes unsold inventory levels till 1 Feb 2014
2. Unsold inventory as percentage of total unsold inventory in Mumbai, Navi Mumbai and Thane
3. Rest of Mumbai includes island city from Nariman Point to Virar in western Suburbs and Mulund in eastern suburbs
Thane city contributes ~32% to total MMR under construction
units
~32% of under-
construction
supply
11Source: PropTiger DataLabs March 2014
In past 5 years Thane prices have doubled …
BSP (Rs/ sq ft)
4,569
9,267
3,500
5,500
7,500
9,500
Feb 2008 Feb 2009 Feb 2010 Feb 2011 Feb 2012 Feb 2013 Feb 2014
Thane West
~100%
increase in
prices
Note: 1. BSP weighed on no. of units in respective projects in a micro-market
Weighted average1 BSP (Rs /sq. ft.) in Thane micro-markets
12Source: PropTiger DataLabs March 2014
…Driving demand in markets beyond Thane
Thane
1. Thane West
Beyond Thane
2. Dombivali
3. Kalyan
4. Bhiwandi
5. Badlapur
Thane West
1
Dombivali
2
Kalyan
3
Bhiwandi
4
Badlapur
5
13Source: PropTiger DataLabs March 2014
Which are still available at attractive price
10,823
10,130
9,267
8,394 8,129
7,847
5,423
5,033
3,520
3,121
0
2,000
4,000
6,000
8,000
10,000
12,000
Weighted average1 BSP (Rs /sq. ft.) in Thane and nearby
micro-markets as on Feb 2014
BSP (Rs/ sq ft)
Note: 1. BSP weighed on no. of units in respective projects in a micro-market
Navi Mumbai micro-markets
Thane micro-markets
Legend
14Source: PropTiger DataLabs March 2014
2,070
5,423
2,142
5,033
2,765
3,520
1,738
3,121
0
2,000
4,000
6,000
Feb 2008 Feb 2009 Feb 2010 Feb 2011 Feb 2012 Feb 2013 Feb 2014
Dombivali
Kalyan
Bhiwandi
Badlapur
Micro-market Y-o-Y appreciation(%)
Dombivali 17.4%
Kalyan 15.3%
Bhiwandi 12.8%
Badlapur 15.8%
Price appreciation in these markets is in range of 12 – 18%
per annum
15Source: PropTiger DataLabs March 2014
Agenda
Thane – background and infrastructure
Residential real estate in Thane
Our view on future of real estate in Thane
Appendix – List of key projects in Thane
16Source: PropTiger DataLabs March 2014
Thane West continues to see most new launches and under
construction projects
Micro market
Construction Status (No. of Projects) - Feb 2014
Upcoming
New
Launches
Under
construction
Ready to
move
Thane West 12 1 101 172
Dombivali 4 NIL 34 14
Kalyan
3
NIL
47 55
Bhiwandi NIL NIL 25 1
Badlapur 1 1 81 36
17Source: PropTiger DataLabs March 2014
Though in recent months markets beyond Thane have more
new unit launches
# of units
5,678
2,025
208
2,290
3,783
2,866
2,185
1,621
2,236
5,128
6,060
5,341
6,466
8,224
10,111
2,196
8,992
668
0
2,000
4,000
6,000
8,000
10,000
12,000
Q1 - CY'12 Q2 - CY'12 Q3 - CY'12 Q4 - CY'12 Q1 - CY'13 Q2 - CY'13 Q3 - CY'13 Q4 - CY'13 Q1 - CY'14*
Thane Beyond Thane
Notes: 1. Thane includes : Thane-West and Thane-East micro-markets
2. Beyond Thane includes : Dombivali, Kalyan, Bhiwandi and Badlapur micro-markets
3. Includes : Units launched till 15th Feb 2014
New units launched in Thane and Beyond Thane markets
18Source: PropTiger DataLabs March 2014
Many key launches in past 2 quarters have been at discount
to locality price
Micro-market Project Name Builder Name
Launch
Date
Launch
Units
Launch BSP
(Rs/sq ft)
Micro-market Avg.
BSP
(Rs/sq ft)
Discount/Premium to
micro-market average
(%)
Dombivali
Lakeshore
Greens
Lodha Oct-2013 6,000 4,545 5,423 -16.2%
Thane West Runwal Eirene Runwal Group Jan-2014 928 7,398 9,267 -20.2%
Thane West Highland Haven Siddhi Group Oct-2013 640 8,100 9,267 -12.6%
Thane West Unique Vistas
Unique Shanti
Developers
Dec-2013 464 7,722 9,267 -16.7%
Thane West
Codename The
Only
Lodha Feb-2014 348 8,730 9,267 -5.8%
Thane West Pride Palms
Gala Lifestyle
Developers
Jan-2014 344 8,750 9,267 -5.6%
Thane West Aarambh Nirvaan Jan-2014 324 6,750 9,267 -27.2%
Thane West Oasis Rosa Group Dec-2013 150 7,200 9,267 -22.3%
Thane West Serita Uma Group Feb-2014 42 7,948 9,267 -14.2%
Thane West
Evergreen
Heights
The Wadhwa
Group
Dec-2013 137 12,000 9,267 29.5%
Thane West
Cosmos
Horizon
Cosmos Group Feb-2014 250 17,638 9,267 90.3%
Thane West Orchid 2 Cosmos Group Oct-2013 230 10,500 9,267 13.3%
19Source: PropTiger DataLabs March 2014
Seller Buyer
Land Parcel
(Acres)
Deal Value
(Crores)
Deal Date Current Status
Clariant Chemicals Lodha Group 87 acres 1,150 crores 16-Apr-2014 Just concluded
Bayer Kalpataru 104 acres 1,250 crores 29-Nov-2012
Kalpataru Sunrise
launched in this
land
PAL-Peugeot Gammon India 135 acres 726 crores 25-Feb-2011
Gammon is
planning to resell
this land
KEC International,
RPG Group
Tata Housing/
Peninsula Land
7 acres 214 crores 2-Apr-2014 Just concluded
Raymonds Unknown builder
9.5 acres (out of
125 acres)
140 crores Nov-2012
Raymond might
eventually develop
this land on its
own
Equinox Realty 8 acres 115 crores Expected sale
Large new supply is expected in future with multiple
industries looking out to sell their land parcels in Thane
20Source: PropTiger DataLabs March 2014
Thane West, Bhiwandi and Dombivali have many large sized
projects under construction
18%
32% 35%
24% 24%
26%
17%
27%
24%
29%
30%
29%
29%
24%
30%
25% 22%
10%
28%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Thane West Dombivali Kalyan Bhiwandi Badlapur
<100 units
100 -200 units
200- 500 units
>500 units
% of projects Projects classification based on size (# of units) – Feb 2014
# of units
21Source: PropTiger DataLabs March 2014
Micro-
market
Township Name Builder Name
Size
(Acres)
Projects in Township
Thane-West Hiranandani Estate Hiranandani 200
Lavinia, Canary, Cardinal, Brookhill, Meadows,
Rodas Enclave, The Walk
Thane-West Rustomjee Urbania Rustomjee 127 Azziano, Acura, Atelier, Athena, Astraea
Dombivali Pallava City Lodha 3,000
Casa Bella, Casa Rio, Casa Rio Gold, Casa
Bella Gold, Lakeshore Greens
Kalyan Yogi Dham Ajmera 22 New Era, Emerald, Ruby, Sapphire
Thane West Everest Countryside Terraform Realty NA Petunia, Marigold, Daffodil, Jasmine, Iris
Badlapur Mohan Suburbia Mohan Group 22
Few key townships developing in Thane and Beyond Thane
22Source: PropTiger DataLabs March 2014
~80,000 units are proposed to be delivered in these markets in
next 2 years
22,768
22,033
15,499
13,809
4,455
0
5,000
10,000
15,000
20,000
25,000
Thane West Badlapur Dombivali Kalyan Bhiwandi
Expected delivery of units across Thane micro-markets by Dec - 2015
23Source: PropTiger DataLabs March 2014
23.1%
39.4%
46.3%
38.3%
53.4%
49.9%
47.0%
40.3%
47.9%
40.5%
22.6%
13.5% 12.7% 13.7%
6.1%3.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Thane West Dombivali Kalyan Bhiwandi Badlapur
BHK wise units under construction – Feb 2014
+5BHK
4BHK
3BHK
2BHK
1BHK
% of units
Markets beyond Thane are dominated by 1 BHK as
compared to other configurations
24Source: PropTiger DataLabs March 2014
Bhiwandi and Badlapur offers predominant property options
in <35 lakhs segment
5% 3%
56%
47%
11%
43%
4%
34%
43%
4%
8%
22%
53% 32%
16%
2%
28%
2%
1%
45.2%
0.6%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Thane West Dombivali Kalyan Bhiwandi Badlapur
+1 crore
75-100 Lakhs
50-75 Lakhs
35-50 Lakhs
25-35 Lakhs
25Lakhs
% of units
Budget wise unit classification – Feb 2014
25Source: PropTiger DataLabs March 2014
Price increase slowed down in 2013 with <7% increase seen
across markets
Micro
market
Basic Sales Price
(Rs/sq ft)
Feb 2013
Basic Sales Price
(Rs/sq ft)
Feb 2014
Price
Appreciation
(%)
Thane West 8,820 9,267 5.1%
Dombivali 5,094 5,423 6.5%
Kalyan 4,808 5,033 4.7%
Bhiwandi 3,330 3,520 5.7%
Badlapur 2,968 3,121 5.1%
26Source: PropTiger DataLabs March 2014
New home sales have fallen by 24% in Thane in 2013
2,185 2,035
1,743
1,388
3,926
3,811
3,152
3,231
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Q1 - CY'13 Q2 - CY'13 Q3 - CY'13 Q4 - CY'13
Thane Beyond Thane
# of units
Absorption trend in Thane and Beyond Thane
- 24 %
6,111
4,619
Notes: 1. Thane includes : Thane-West and Thane-East micro-markets
2. Beyond Thane includes : Dombivali, Kalyan, Bhiwandi and Badlapur micro-markets
6,111 5,846
4,895 4,619
1 2
27Source: PropTiger DataLabs March 2014
Project Builder
Micro-
market
Project
Status
Pre-
Launch
BSP
(Rs/sq ft)
Current
Micro-
market BSP
(Rs/sq ft)
Pre
Launch
Date
Launched
Units
Sold Out
Units
(Approx)
Sold Out
(%)
Lakeshore
Greens
Lodha Dombivali Pre Launch 4,545 5,423 Oct-2013 6,000 2,000 33%
Sunrise Kalpataru Thane West Pre Launch 7,500 9,267 Dec-2013 400 400 100%
Runwal
Eirene
Runwal
Group
Thane West Pre Launch
7,598 9,267 Jan-2014 464 250 54%
Though few new pre-launches have seen good sales due to
attractive pricing
28Source: PropTiger DataLabs March 2014
Current inventory levels are high in Thane, Dombivali and
Badlapur
3,673
5,178
7,156
7,600
9,227
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Kalyan Bhiwandi Badlapur Dombivali Thane West
Unsold inventory (# of units) – Feb 2014# of units
Notes: 1. Includes Airoli, Ghansoli, Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur
29Source: PropTiger DataLabs March 2014
Agenda
Thane – background and proposed developments
Residential real estate in Thane
Our view on future of real estate in Thane
Appendix – List of key projects in Thane
30Source: PropTiger DataLabs March 2014
Look out for opportunity to enter at attractive prices
• Availability of large tracts of land vacated by industries for residential development is a good
news for investors and property seekers
• We expect more land deals will be consummated in coming months resulting in significant new
supply from reputed builders
• Piling inventory, uncertain political environment and slow sales will ensure builders cut their
prices and launch projects at attractive discount to market price
• Investors looking to make decent returns as well as property buyers willing to take risk on
delivery delay should invest in pre launches by reputed builders such as Kalpataru, Runwal,
Lodha and others
31Source: PropTiger DataLabs March 2014
Agenda
Thane – background and proposed developments
Residential real estate in Thane
Our view on future of real estate in Thane
Appendix – List of key projects in Thane
32Source: PropTiger DataLabs March 2014
Key projects in Thane micro-market
Micro
market
Project Name Builder Name Project Status
Project
Type
No. of
Units
Unit Type
Launch
Date
Completion
Date
BSP
(Rs/sq ft)
Thane West Ozone ACME Group Under Construction Apartments 1,904
2BHK, 3BHK,
4BHK
Jan-2006 Dec-2018 9,300
Thane West Vihar Dosti Group Under Construction Apartments 1,822
1BHK, 2BHK,
3BHK
Jan-2010 Jun-2015 9,700
Thane West Haware Citi Haware Engineers Under Construction Apartments 1,800
1BHK, 2BHK,
3BHK
Oct-2010 Jun-2014 6,800
Thane West Urbania Rustomjee Under Construction Apartments 1,700
1BHK, 2BHK,
3BHK
Jan-2010 Dec-2017 9,850
Thane West
Estate Rodas
Enclave
Hiranandani Under Construction Apartments 1,509
1BHK, 2BHK,
3BHK, 4BHK,
5BHK
Jan-2010 Jun-2015 12,100
Thane West Sports City Nirmal Lifestyle Launch Apartments 1,404
2BHK, 3BHK,
4BHK
Apr-2013 Dec-2017 13,005
Thane West Vihang Valley Vihang Group Under Construction Apartments 1,320 1BHK, 2BHK Nov-2009 Oct-2016 7,500
Thane West Rumah Bali Puranik Builders Under Construction Apartments 1,122
1BHK, 2BHK,
3BHK
Mar-2012 Mar-2015 7,500
Thane West Jewels Cosmos Group Under Construction Apartments 1,117 2BHK, 3BHK Jan-2011 Dec-2015 14,698*
Thane West Neelkanth Greens Neelkanth Group Under Construction Apartments 1,056 2BHK, 3BHK Jan-2006 Dec-2016 16,675*
Thane West Acres Bhoomi group Under Construction Apartments 1,000 1BHK, 2BHK Jan-2007 Dec-2017 8,000
Thane West Greenwoods Hubtown Under Construction Apartments 976
1BHK, 2BHK,
3BHK
Feb-2010 Dec-2015 10,500
Thane West Splendora Lodha Under Construction Apartments 840
1BHK, 2BHK,
3BHK
Feb-2012 Dec-2016 8,280
Notes: *Avg. BSP based on carpet area
33Source: PropTiger DataLabs March 2014
Key projects in Dombivali micro-market
Micro
market
Project Name Builder Name Project Status
Project
Type
No. of
Units
Unit Type
Launch
Date
Completion
Date
BSP
(Rs/sq ft)
Dombivali Casa Rio Lodha Under Construction Apartments 7,392
1BHK, 2BHK,
3BHK
Jan-2010 Oct-2014 6,030
Dombivali Lakeshore Greens Lodha Pre Launch Apartments 6,000
1BHK, 2BHK,
3BHK
Oct-2013 Dec-2017 4,853
Dombivali Casa Rio Gold Lodha Under Construction Apartments 2,833
1BHK, 2BHK,
3BHK
Apr-2013 Jan-2015 5,320
Dombivali
Shankheshwar
Nagar
Sanghvi Group
Ready for
Possession
Apartments 1,000 1BHK, 2BHK Feb-2013 May-2013 5,200
Sil Phata Ecovistas Bharat Infra Under Construction Apartments 966 1BHK, 2BHK Dec-2012 Dec-2015 5,500
Dombivali Marathon Nexworld Marathon Realty Pre Launch Apartments 736 1BHK Apr-2013 Dec-2016 3,791
Sil Phata Centerio Dosti Group Under Construction Apartments 672 1BHK, 2BHK Feb-2013 Dec-2015 5,100
Dombivali Balaji Garden Neelsidhi Group
Ready for
Possession
Apartments 522
1BHK, 2BHK,
3BHK
Aug-2007 Oct-2012 6,000
Dombivali Valley Versatile Under Construction Apartments 516
1BHK, 2BHK,
3BHK
Jan-2013 Aug-2016 4,650
Dombivali Valley MM Group Under Construction Apartments 475
1BHK, 2BHK,
3BHK
Sep-2009 Jul-2016 5,700
Dombivali Shrushti Shree Balaji Pre Launch Apartments 448 1BHK, 2BHK Feb-2013 Jun-2016 4,400
34Source: PropTiger DataLabs March 2014
Key projects in Kalyan micro-market
Micro
market
Project Name Builder Name Project Status
Project
Type
No. of
Units
Unit Type
Launch
Date
Completion
Date
BSP
(Rs/sq ft)
Kalyan East Lok Dhara Lok Housing Under Construction Apartments 4,387
1BHK, 2BHK,
3BHK
Apr-1994 Dec-2014 5,250
Kalyan West Raunak City Raunak Group Under Construction Apartments 1,587 1BHK, 2BHK Mar-2011 Jun-2015 4,551
Kalyan West Colossus Patel Group Under Construction Apartments 780
2BHK, 3BHK,
4BHK
May-2012 Dec-2016 5,650
Kalyan West
Rutu Riverside
Estate
Rutu Group Under Construction Apartments 760 1BHK, 2BHK Jan-2010 Dec-2017 4,850
Kalyan West Guru Atman Gurukrupa Under Construction Apartments 704 1BHK, 2BHK Dec-2011 Jun-2015 4,850
Kalyan West Rosalie
Tharwani
Infrastructures
Under Construction Apartments 600
1BHK, 2BHK,
3BHK
Jun-2009 Jun-2014 4,500
Kalyan East Rai City Rai Residency Under Construction Apartments 500
1BHK, 2BHK,
3BHK
Sep-2012 Dec-2014 5,250
Kalyan East Solitaire Monarch Under Construction Apartments 406
2BHK, 3BHK,
4BHK
Jan-2013 Apr-2016 8,000
Kalyan East Dhara Phase III Lok Housing Under Construction Apartments 384
1BHK, 2BHK,
3BHK
Sep-2010 Dec-2014 5,250
Kalyan East Metro Residency West Pioneer Under Construction Apartments 368 2BHK Jun-2010 Jun-2014 6,500
35Source: PropTiger DataLabs March 2014
Key projects in Bhiwandi micro-market
Micro
market
Project Name Builder Name Project Status
Project
Type
No. of
Units
Unit Type
Launch
Date
Completion
Date
BSP
(Rs/sq ft)
Bhiwandi Srushti
Shree Mahavir
Patwa
Under Construction Apartments 2,200
1BHK, 2BHK,
3BHK
Jul-2012 Oct-2017 3,000
Bhiwandi Amantra TATA Housing Under Construction Apartments 1,466 2BHK, 3BHK Oct-2011 Dec-2017 6,300
Bhiwandi Galaxy
Shree Mahavir
Patwa
Under Construction Apartments 1,344
1BHK, 2BHK,
3BHK
Jun-2012 Dec-2016 2,500
Bhiwandi Atlanta Edenworld
Sai Balaji
Developers
Under Construction Apartments 1,296 1BHK, 2BHK Feb-2012 Dec-2015 3,600
Bhiwandi City
Shree Mahavir
Patwa
Under Construction Apartments 1,027
1BHK, 2BHK,
3BHK
Mar-2012 Dec-2015 2,520
Bhiwandi Pushpa Kalash Tirupati Balaji Under Construction Apartments 560 1BHK, 2BHK Nov-2012 Dec-2014 2,695
Bhiwandi Regal Square Squarefeet Group Under Construction Apartments 560 1BHK, 2BHK Dec-2012 Dec-2016 3,600
Bhiwandi Adarsh Neelkanth
Sarvopari Sahara
Developers
Under Construction Apartments 360 1BHK, 2BHK Oct-2013 Dec-2016 3,800
Bhiwandi
Ashtavinayak
Residency
Balaji Properties Under Construction Apartments 350 1BHK, 2BHK May-2013 Aug-2017 2,511
Bhiwandi
Siddhi Mangal
Murti Complex
Srushti Group Under Construction Apartments 350
1BHK, 2BHK,
3BHK
Jan-2012 Feb-2016 3,000
36Source: PropTiger DataLabs March 2014
Key projects in Badlapur micro-market
Micro
market
Project Name Builder Name Project Status
Project
Type
No. of
Units
Unit Type
Launch
Date
Completion
Date
BSP
(Rs/sq ft)
Badlapur
East
Samrudhi
Evergreen
Poddar Housing Under Construction Apartments 1,678
1BHK, 2BHK,
3BHK
Apr-2010 Dec-2015 3,350
Badlapur
East
Mohan Palms Mohan Group Under Construction Apartments 1,372
1BHK, 2BHK,
3BHK
Sep-2010 Dec-2014 3,600
Ambernath
West
Suburbia Mohan Group Under Construction Apartments 1,244
1BHK, 2BHK,
3BHK
Jun-2011 Oct-2015 3,663
Ambernath
West
Sarvodaya Nagar
Happy Home
Group
Under Construction Apartments 1,000
1BHK, 2BHK,
3BHK
Jul-2010 Sep-2015 3,200
Badlapur
East
Usha Kiran
Residency
Stalwart Impex Under Construction Apartments 700
1BHK, 2BHK,
3BHK
Jan-2010 Jul-2014 3,250
Badlapur
East
Kalp City 5P Group Under Construction Apartments 700 1BHK, 2BHK Feb-2011 Jun-2016 3,200
Badlapur
West
Vedant Nakshatra
Tharwani
Infrastructures
Under Construction
Apartments
+ Villas
665
1BHK, 2BHK,
3BHK
May-2013 Dec-2016 4,160
Badlapur
West
Shaswat Park Shashwat Homes Under Construction Apartments 650 1BHK, 2BHK Mar-2009 May-2015 3,100
Ambernath
East
Nagari Ph 3 Lok Housing Under Construction Apartments 650 1BHK, 2BHK Mar-2012 Dec-2015 3,050
Ambernath
East
Flora
Royal Galaxy
Developers
Under Construction Apartments 602 1BHK Aug-2012 Sep-2014 3,150

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PropTiger Thane city of Lakes and High Rises

  • 1. Confidential – Private Circulation Only Thane – City of Lakes and High Rises April 2014
  • 2. 1Source: PropTiger DataLabs March 2014 Statement of Limiting Condition • The conclusions and recommendations made by Proptiger in this report are based on the information collated through secondary research, our knowledge of the industry and discussions with industry experts. Proptiger has taken due care to validate the authenticity and correctness of the information from various sources, however, no representations or warranty, expressed or implied, is given by Proptiger or any of its respective officers, employees or agents as to the accuracy or completeness of the information, data or opinions provided to Proptiger by third parties or secondary sources. • Nothing contained in this report is to the contrary and in no event shall Proptiger Realty Pvt. Ltd be liable for any loss of profit or revenues. • Neither Proptiger, nor their promoters or employees accept any liability for any direct, consequential or perceived loss arising from the use of this document or its contents. In no event Proptiger Realty Pvt. Ltd shall be liable for any direct, incidental, consequential damages by any user of this report. • This document is strictly private and confidential and has been prepared exclusively for Monarch Properties. The information contained here is proprietary and no part or portion thereof may be repeated or otherwise reproduced, published or used without specific permission from Proptiger.
  • 3. 2Source: PropTiger DataLabs March 2014 Methodology We leverage multiple sources for analyzing current residential market and recommending right product mix for our clients • Industry leading Proptiger Real Estate Database – we capture more than 50 attributes of all projects we have in our database (more than 30,000 projects) which include and not limited to total units split by configurations, price movement, absorption over time period, project size, tower configurations, specifications, amenities, floor plans etc. • Customer interaction through Proptiger.com – we analyze visitors to our website in terms of projects viewed in a locality, interest showed on configurations, price affordability etc. • Our field surveyor team regularly meets builders and agents to understand underlying trends in the market • Our sales team is our ears to the end customers who provide us inputs into what is customer actual need in a locality
  • 4. 3Source: PropTiger DataLabs March 2014 Executive Summary • Thane is well connected to Mumbai and Navi Mumbai through road and rail networks • Successive movement of IT/ITES and other services companies to Thane and North Navi Mumbai fuelled residential demand in Thane • Thane properties which were available at affordable rates of Rs 4,500 per sq. ft. in 2008 doubled up to Rs 9,200 per sq. ft. in 2014 • Rising prices pushed affordable residential development to micro markets beyond Thane key amongst them are Dombivali, Kalyan, Bhiwandi and Badlapur • Though Thane continues to be the largest residential market, recent quarters have seen more units being launched in markets beyond Thane • 2013 turned out to be damp year for Thane when prices grew only by 6% and sales slowed by 25% • Start of 2014 has been positive for Thane market reflected in excellent sales visible in recent pre launches
  • 5. 4Source: PropTiger DataLabs March 2014 Agenda Thane – background and infrastructure Residential real estate in Thane Our view on future of real estate in Thane Appendix – List of key projects in Thane
  • 6. 5Source: PropTiger DataLabs March 2014 Thane located in north of Mumbai is well connected to island city through road and rail networks Navi Mumbai Thane Mumbai Key road network • 24 kms of Eastern Express Highway connects Thane to CST in South Mumbai • Eastern freeway further shortens travel time from Thane to South Mumbai by 40 minutes • 20 km Ghodbunder road connects Thane to Western Expressway Rail Network • Thane lies on central line and is 45 – 50 minutes away from CST • Thane is also connected to Navi Mumbai through Thane-Vashi-Nerul- Panvel line • Ghatkopar-Mulund metro line is expected to be extended to Thane in future Thane Junction
  • 7. 6Source: PropTiger DataLabs March 2014 Thane has thriving social infrastructure with several malls… Viviana Mall, Thane West Korum Mall, Thane West Eternity Mall, Teen Hath Naka Hypercity, Ghodbunder Road Lake City Mall, Ghodbunder Road Metro Junction Mall,Kalyan
  • 8. 7Source: PropTiger DataLabs March 2014 …And multiple high quality schools and hospitals Hiranandani Foundation School,Patlipada, Off Ghodbunder Road Bethany Hospital Billabong International School, Wagle Estate Hiranandani Hospital, Ghodbunder Road St. John High School, Thane Jupiter Hospital, Eastern Express Highway
  • 9. 8Source: PropTiger DataLabs March 2014 Thane economy is increasingly driven by services companies Ashar IT Park, Wagle Estate, Thane (1 million sq ft) Sun Infotech Park, Wagle Estate, Thane NITCO Biz Park, Wagle Estate, Thane (3.5 lakh sq ft) Neptune Elements IT Park, Wagle Estate, Thane (1 million sq ft) TCS, Yantra Park, Thane West Emerson, Wagle Estate, Thane
  • 10. 9Source: PropTiger DataLabs March 2014 Proximity to IT parks in Navi Mumbai also contributes to residential demand in Thane Raheja Mindspace,Airoli (4 million sq ft) Dhirubhai Ambani Knowliedge City, Koperkhairane (56 Acres) Millenium Business Park, Mahape (2 million sq ft) Reliance Corporate Park, Ghansoli (1.7 million sq ft) L&T office,Mahape
  • 11. 10Source: PropTiger DataLabs March 2014 City Under Construction Units Units expected to be delivered in 2014 Unit Sales (2013) Unsold Inventory1 Unsold Inventory2 (%) Navi Mumbai 78,810 24,686 16,272 20,132 20% Thane 127,556 36,524 21,471 32,834 33% Rest of Mumbai3 193,730 40,731 36,488 48,348 49% Total MMR 4,00,096 1,01,941 74,231 1,01,314 100% Note: 1. Includes unsold inventory levels till 1 Feb 2014 2. Unsold inventory as percentage of total unsold inventory in Mumbai, Navi Mumbai and Thane 3. Rest of Mumbai includes island city from Nariman Point to Virar in western Suburbs and Mulund in eastern suburbs Thane city contributes ~32% to total MMR under construction units ~32% of under- construction supply
  • 12. 11Source: PropTiger DataLabs March 2014 In past 5 years Thane prices have doubled … BSP (Rs/ sq ft) 4,569 9,267 3,500 5,500 7,500 9,500 Feb 2008 Feb 2009 Feb 2010 Feb 2011 Feb 2012 Feb 2013 Feb 2014 Thane West ~100% increase in prices Note: 1. BSP weighed on no. of units in respective projects in a micro-market Weighted average1 BSP (Rs /sq. ft.) in Thane micro-markets
  • 13. 12Source: PropTiger DataLabs March 2014 …Driving demand in markets beyond Thane Thane 1. Thane West Beyond Thane 2. Dombivali 3. Kalyan 4. Bhiwandi 5. Badlapur Thane West 1 Dombivali 2 Kalyan 3 Bhiwandi 4 Badlapur 5
  • 14. 13Source: PropTiger DataLabs March 2014 Which are still available at attractive price 10,823 10,130 9,267 8,394 8,129 7,847 5,423 5,033 3,520 3,121 0 2,000 4,000 6,000 8,000 10,000 12,000 Weighted average1 BSP (Rs /sq. ft.) in Thane and nearby micro-markets as on Feb 2014 BSP (Rs/ sq ft) Note: 1. BSP weighed on no. of units in respective projects in a micro-market Navi Mumbai micro-markets Thane micro-markets Legend
  • 15. 14Source: PropTiger DataLabs March 2014 2,070 5,423 2,142 5,033 2,765 3,520 1,738 3,121 0 2,000 4,000 6,000 Feb 2008 Feb 2009 Feb 2010 Feb 2011 Feb 2012 Feb 2013 Feb 2014 Dombivali Kalyan Bhiwandi Badlapur Micro-market Y-o-Y appreciation(%) Dombivali 17.4% Kalyan 15.3% Bhiwandi 12.8% Badlapur 15.8% Price appreciation in these markets is in range of 12 – 18% per annum
  • 16. 15Source: PropTiger DataLabs March 2014 Agenda Thane – background and infrastructure Residential real estate in Thane Our view on future of real estate in Thane Appendix – List of key projects in Thane
  • 17. 16Source: PropTiger DataLabs March 2014 Thane West continues to see most new launches and under construction projects Micro market Construction Status (No. of Projects) - Feb 2014 Upcoming New Launches Under construction Ready to move Thane West 12 1 101 172 Dombivali 4 NIL 34 14 Kalyan 3 NIL 47 55 Bhiwandi NIL NIL 25 1 Badlapur 1 1 81 36
  • 18. 17Source: PropTiger DataLabs March 2014 Though in recent months markets beyond Thane have more new unit launches # of units 5,678 2,025 208 2,290 3,783 2,866 2,185 1,621 2,236 5,128 6,060 5,341 6,466 8,224 10,111 2,196 8,992 668 0 2,000 4,000 6,000 8,000 10,000 12,000 Q1 - CY'12 Q2 - CY'12 Q3 - CY'12 Q4 - CY'12 Q1 - CY'13 Q2 - CY'13 Q3 - CY'13 Q4 - CY'13 Q1 - CY'14* Thane Beyond Thane Notes: 1. Thane includes : Thane-West and Thane-East micro-markets 2. Beyond Thane includes : Dombivali, Kalyan, Bhiwandi and Badlapur micro-markets 3. Includes : Units launched till 15th Feb 2014 New units launched in Thane and Beyond Thane markets
  • 19. 18Source: PropTiger DataLabs March 2014 Many key launches in past 2 quarters have been at discount to locality price Micro-market Project Name Builder Name Launch Date Launch Units Launch BSP (Rs/sq ft) Micro-market Avg. BSP (Rs/sq ft) Discount/Premium to micro-market average (%) Dombivali Lakeshore Greens Lodha Oct-2013 6,000 4,545 5,423 -16.2% Thane West Runwal Eirene Runwal Group Jan-2014 928 7,398 9,267 -20.2% Thane West Highland Haven Siddhi Group Oct-2013 640 8,100 9,267 -12.6% Thane West Unique Vistas Unique Shanti Developers Dec-2013 464 7,722 9,267 -16.7% Thane West Codename The Only Lodha Feb-2014 348 8,730 9,267 -5.8% Thane West Pride Palms Gala Lifestyle Developers Jan-2014 344 8,750 9,267 -5.6% Thane West Aarambh Nirvaan Jan-2014 324 6,750 9,267 -27.2% Thane West Oasis Rosa Group Dec-2013 150 7,200 9,267 -22.3% Thane West Serita Uma Group Feb-2014 42 7,948 9,267 -14.2% Thane West Evergreen Heights The Wadhwa Group Dec-2013 137 12,000 9,267 29.5% Thane West Cosmos Horizon Cosmos Group Feb-2014 250 17,638 9,267 90.3% Thane West Orchid 2 Cosmos Group Oct-2013 230 10,500 9,267 13.3%
  • 20. 19Source: PropTiger DataLabs March 2014 Seller Buyer Land Parcel (Acres) Deal Value (Crores) Deal Date Current Status Clariant Chemicals Lodha Group 87 acres 1,150 crores 16-Apr-2014 Just concluded Bayer Kalpataru 104 acres 1,250 crores 29-Nov-2012 Kalpataru Sunrise launched in this land PAL-Peugeot Gammon India 135 acres 726 crores 25-Feb-2011 Gammon is planning to resell this land KEC International, RPG Group Tata Housing/ Peninsula Land 7 acres 214 crores 2-Apr-2014 Just concluded Raymonds Unknown builder 9.5 acres (out of 125 acres) 140 crores Nov-2012 Raymond might eventually develop this land on its own Equinox Realty 8 acres 115 crores Expected sale Large new supply is expected in future with multiple industries looking out to sell their land parcels in Thane
  • 21. 20Source: PropTiger DataLabs March 2014 Thane West, Bhiwandi and Dombivali have many large sized projects under construction 18% 32% 35% 24% 24% 26% 17% 27% 24% 29% 30% 29% 29% 24% 30% 25% 22% 10% 28% 17% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Thane West Dombivali Kalyan Bhiwandi Badlapur <100 units 100 -200 units 200- 500 units >500 units % of projects Projects classification based on size (# of units) – Feb 2014 # of units
  • 22. 21Source: PropTiger DataLabs March 2014 Micro- market Township Name Builder Name Size (Acres) Projects in Township Thane-West Hiranandani Estate Hiranandani 200 Lavinia, Canary, Cardinal, Brookhill, Meadows, Rodas Enclave, The Walk Thane-West Rustomjee Urbania Rustomjee 127 Azziano, Acura, Atelier, Athena, Astraea Dombivali Pallava City Lodha 3,000 Casa Bella, Casa Rio, Casa Rio Gold, Casa Bella Gold, Lakeshore Greens Kalyan Yogi Dham Ajmera 22 New Era, Emerald, Ruby, Sapphire Thane West Everest Countryside Terraform Realty NA Petunia, Marigold, Daffodil, Jasmine, Iris Badlapur Mohan Suburbia Mohan Group 22 Few key townships developing in Thane and Beyond Thane
  • 23. 22Source: PropTiger DataLabs March 2014 ~80,000 units are proposed to be delivered in these markets in next 2 years 22,768 22,033 15,499 13,809 4,455 0 5,000 10,000 15,000 20,000 25,000 Thane West Badlapur Dombivali Kalyan Bhiwandi Expected delivery of units across Thane micro-markets by Dec - 2015
  • 24. 23Source: PropTiger DataLabs March 2014 23.1% 39.4% 46.3% 38.3% 53.4% 49.9% 47.0% 40.3% 47.9% 40.5% 22.6% 13.5% 12.7% 13.7% 6.1%3.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% Thane West Dombivali Kalyan Bhiwandi Badlapur BHK wise units under construction – Feb 2014 +5BHK 4BHK 3BHK 2BHK 1BHK % of units Markets beyond Thane are dominated by 1 BHK as compared to other configurations
  • 25. 24Source: PropTiger DataLabs March 2014 Bhiwandi and Badlapur offers predominant property options in <35 lakhs segment 5% 3% 56% 47% 11% 43% 4% 34% 43% 4% 8% 22% 53% 32% 16% 2% 28% 2% 1% 45.2% 0.6% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% Thane West Dombivali Kalyan Bhiwandi Badlapur +1 crore 75-100 Lakhs 50-75 Lakhs 35-50 Lakhs 25-35 Lakhs 25Lakhs % of units Budget wise unit classification – Feb 2014
  • 26. 25Source: PropTiger DataLabs March 2014 Price increase slowed down in 2013 with <7% increase seen across markets Micro market Basic Sales Price (Rs/sq ft) Feb 2013 Basic Sales Price (Rs/sq ft) Feb 2014 Price Appreciation (%) Thane West 8,820 9,267 5.1% Dombivali 5,094 5,423 6.5% Kalyan 4,808 5,033 4.7% Bhiwandi 3,330 3,520 5.7% Badlapur 2,968 3,121 5.1%
  • 27. 26Source: PropTiger DataLabs March 2014 New home sales have fallen by 24% in Thane in 2013 2,185 2,035 1,743 1,388 3,926 3,811 3,152 3,231 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q1 - CY'13 Q2 - CY'13 Q3 - CY'13 Q4 - CY'13 Thane Beyond Thane # of units Absorption trend in Thane and Beyond Thane - 24 % 6,111 4,619 Notes: 1. Thane includes : Thane-West and Thane-East micro-markets 2. Beyond Thane includes : Dombivali, Kalyan, Bhiwandi and Badlapur micro-markets 6,111 5,846 4,895 4,619 1 2
  • 28. 27Source: PropTiger DataLabs March 2014 Project Builder Micro- market Project Status Pre- Launch BSP (Rs/sq ft) Current Micro- market BSP (Rs/sq ft) Pre Launch Date Launched Units Sold Out Units (Approx) Sold Out (%) Lakeshore Greens Lodha Dombivali Pre Launch 4,545 5,423 Oct-2013 6,000 2,000 33% Sunrise Kalpataru Thane West Pre Launch 7,500 9,267 Dec-2013 400 400 100% Runwal Eirene Runwal Group Thane West Pre Launch 7,598 9,267 Jan-2014 464 250 54% Though few new pre-launches have seen good sales due to attractive pricing
  • 29. 28Source: PropTiger DataLabs March 2014 Current inventory levels are high in Thane, Dombivali and Badlapur 3,673 5,178 7,156 7,600 9,227 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Kalyan Bhiwandi Badlapur Dombivali Thane West Unsold inventory (# of units) – Feb 2014# of units Notes: 1. Includes Airoli, Ghansoli, Koperkhairane 2.Includes Vashi, Nerul, Seawoods, Sanpada and Belapur
  • 30. 29Source: PropTiger DataLabs March 2014 Agenda Thane – background and proposed developments Residential real estate in Thane Our view on future of real estate in Thane Appendix – List of key projects in Thane
  • 31. 30Source: PropTiger DataLabs March 2014 Look out for opportunity to enter at attractive prices • Availability of large tracts of land vacated by industries for residential development is a good news for investors and property seekers • We expect more land deals will be consummated in coming months resulting in significant new supply from reputed builders • Piling inventory, uncertain political environment and slow sales will ensure builders cut their prices and launch projects at attractive discount to market price • Investors looking to make decent returns as well as property buyers willing to take risk on delivery delay should invest in pre launches by reputed builders such as Kalpataru, Runwal, Lodha and others
  • 32. 31Source: PropTiger DataLabs March 2014 Agenda Thane – background and proposed developments Residential real estate in Thane Our view on future of real estate in Thane Appendix – List of key projects in Thane
  • 33. 32Source: PropTiger DataLabs March 2014 Key projects in Thane micro-market Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Thane West Ozone ACME Group Under Construction Apartments 1,904 2BHK, 3BHK, 4BHK Jan-2006 Dec-2018 9,300 Thane West Vihar Dosti Group Under Construction Apartments 1,822 1BHK, 2BHK, 3BHK Jan-2010 Jun-2015 9,700 Thane West Haware Citi Haware Engineers Under Construction Apartments 1,800 1BHK, 2BHK, 3BHK Oct-2010 Jun-2014 6,800 Thane West Urbania Rustomjee Under Construction Apartments 1,700 1BHK, 2BHK, 3BHK Jan-2010 Dec-2017 9,850 Thane West Estate Rodas Enclave Hiranandani Under Construction Apartments 1,509 1BHK, 2BHK, 3BHK, 4BHK, 5BHK Jan-2010 Jun-2015 12,100 Thane West Sports City Nirmal Lifestyle Launch Apartments 1,404 2BHK, 3BHK, 4BHK Apr-2013 Dec-2017 13,005 Thane West Vihang Valley Vihang Group Under Construction Apartments 1,320 1BHK, 2BHK Nov-2009 Oct-2016 7,500 Thane West Rumah Bali Puranik Builders Under Construction Apartments 1,122 1BHK, 2BHK, 3BHK Mar-2012 Mar-2015 7,500 Thane West Jewels Cosmos Group Under Construction Apartments 1,117 2BHK, 3BHK Jan-2011 Dec-2015 14,698* Thane West Neelkanth Greens Neelkanth Group Under Construction Apartments 1,056 2BHK, 3BHK Jan-2006 Dec-2016 16,675* Thane West Acres Bhoomi group Under Construction Apartments 1,000 1BHK, 2BHK Jan-2007 Dec-2017 8,000 Thane West Greenwoods Hubtown Under Construction Apartments 976 1BHK, 2BHK, 3BHK Feb-2010 Dec-2015 10,500 Thane West Splendora Lodha Under Construction Apartments 840 1BHK, 2BHK, 3BHK Feb-2012 Dec-2016 8,280 Notes: *Avg. BSP based on carpet area
  • 34. 33Source: PropTiger DataLabs March 2014 Key projects in Dombivali micro-market Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Dombivali Casa Rio Lodha Under Construction Apartments 7,392 1BHK, 2BHK, 3BHK Jan-2010 Oct-2014 6,030 Dombivali Lakeshore Greens Lodha Pre Launch Apartments 6,000 1BHK, 2BHK, 3BHK Oct-2013 Dec-2017 4,853 Dombivali Casa Rio Gold Lodha Under Construction Apartments 2,833 1BHK, 2BHK, 3BHK Apr-2013 Jan-2015 5,320 Dombivali Shankheshwar Nagar Sanghvi Group Ready for Possession Apartments 1,000 1BHK, 2BHK Feb-2013 May-2013 5,200 Sil Phata Ecovistas Bharat Infra Under Construction Apartments 966 1BHK, 2BHK Dec-2012 Dec-2015 5,500 Dombivali Marathon Nexworld Marathon Realty Pre Launch Apartments 736 1BHK Apr-2013 Dec-2016 3,791 Sil Phata Centerio Dosti Group Under Construction Apartments 672 1BHK, 2BHK Feb-2013 Dec-2015 5,100 Dombivali Balaji Garden Neelsidhi Group Ready for Possession Apartments 522 1BHK, 2BHK, 3BHK Aug-2007 Oct-2012 6,000 Dombivali Valley Versatile Under Construction Apartments 516 1BHK, 2BHK, 3BHK Jan-2013 Aug-2016 4,650 Dombivali Valley MM Group Under Construction Apartments 475 1BHK, 2BHK, 3BHK Sep-2009 Jul-2016 5,700 Dombivali Shrushti Shree Balaji Pre Launch Apartments 448 1BHK, 2BHK Feb-2013 Jun-2016 4,400
  • 35. 34Source: PropTiger DataLabs March 2014 Key projects in Kalyan micro-market Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Kalyan East Lok Dhara Lok Housing Under Construction Apartments 4,387 1BHK, 2BHK, 3BHK Apr-1994 Dec-2014 5,250 Kalyan West Raunak City Raunak Group Under Construction Apartments 1,587 1BHK, 2BHK Mar-2011 Jun-2015 4,551 Kalyan West Colossus Patel Group Under Construction Apartments 780 2BHK, 3BHK, 4BHK May-2012 Dec-2016 5,650 Kalyan West Rutu Riverside Estate Rutu Group Under Construction Apartments 760 1BHK, 2BHK Jan-2010 Dec-2017 4,850 Kalyan West Guru Atman Gurukrupa Under Construction Apartments 704 1BHK, 2BHK Dec-2011 Jun-2015 4,850 Kalyan West Rosalie Tharwani Infrastructures Under Construction Apartments 600 1BHK, 2BHK, 3BHK Jun-2009 Jun-2014 4,500 Kalyan East Rai City Rai Residency Under Construction Apartments 500 1BHK, 2BHK, 3BHK Sep-2012 Dec-2014 5,250 Kalyan East Solitaire Monarch Under Construction Apartments 406 2BHK, 3BHK, 4BHK Jan-2013 Apr-2016 8,000 Kalyan East Dhara Phase III Lok Housing Under Construction Apartments 384 1BHK, 2BHK, 3BHK Sep-2010 Dec-2014 5,250 Kalyan East Metro Residency West Pioneer Under Construction Apartments 368 2BHK Jun-2010 Jun-2014 6,500
  • 36. 35Source: PropTiger DataLabs March 2014 Key projects in Bhiwandi micro-market Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Bhiwandi Srushti Shree Mahavir Patwa Under Construction Apartments 2,200 1BHK, 2BHK, 3BHK Jul-2012 Oct-2017 3,000 Bhiwandi Amantra TATA Housing Under Construction Apartments 1,466 2BHK, 3BHK Oct-2011 Dec-2017 6,300 Bhiwandi Galaxy Shree Mahavir Patwa Under Construction Apartments 1,344 1BHK, 2BHK, 3BHK Jun-2012 Dec-2016 2,500 Bhiwandi Atlanta Edenworld Sai Balaji Developers Under Construction Apartments 1,296 1BHK, 2BHK Feb-2012 Dec-2015 3,600 Bhiwandi City Shree Mahavir Patwa Under Construction Apartments 1,027 1BHK, 2BHK, 3BHK Mar-2012 Dec-2015 2,520 Bhiwandi Pushpa Kalash Tirupati Balaji Under Construction Apartments 560 1BHK, 2BHK Nov-2012 Dec-2014 2,695 Bhiwandi Regal Square Squarefeet Group Under Construction Apartments 560 1BHK, 2BHK Dec-2012 Dec-2016 3,600 Bhiwandi Adarsh Neelkanth Sarvopari Sahara Developers Under Construction Apartments 360 1BHK, 2BHK Oct-2013 Dec-2016 3,800 Bhiwandi Ashtavinayak Residency Balaji Properties Under Construction Apartments 350 1BHK, 2BHK May-2013 Aug-2017 2,511 Bhiwandi Siddhi Mangal Murti Complex Srushti Group Under Construction Apartments 350 1BHK, 2BHK, 3BHK Jan-2012 Feb-2016 3,000
  • 37. 36Source: PropTiger DataLabs March 2014 Key projects in Badlapur micro-market Micro market Project Name Builder Name Project Status Project Type No. of Units Unit Type Launch Date Completion Date BSP (Rs/sq ft) Badlapur East Samrudhi Evergreen Poddar Housing Under Construction Apartments 1,678 1BHK, 2BHK, 3BHK Apr-2010 Dec-2015 3,350 Badlapur East Mohan Palms Mohan Group Under Construction Apartments 1,372 1BHK, 2BHK, 3BHK Sep-2010 Dec-2014 3,600 Ambernath West Suburbia Mohan Group Under Construction Apartments 1,244 1BHK, 2BHK, 3BHK Jun-2011 Oct-2015 3,663 Ambernath West Sarvodaya Nagar Happy Home Group Under Construction Apartments 1,000 1BHK, 2BHK, 3BHK Jul-2010 Sep-2015 3,200 Badlapur East Usha Kiran Residency Stalwart Impex Under Construction Apartments 700 1BHK, 2BHK, 3BHK Jan-2010 Jul-2014 3,250 Badlapur East Kalp City 5P Group Under Construction Apartments 700 1BHK, 2BHK Feb-2011 Jun-2016 3,200 Badlapur West Vedant Nakshatra Tharwani Infrastructures Under Construction Apartments + Villas 665 1BHK, 2BHK, 3BHK May-2013 Dec-2016 4,160 Badlapur West Shaswat Park Shashwat Homes Under Construction Apartments 650 1BHK, 2BHK Mar-2009 May-2015 3,100 Ambernath East Nagari Ph 3 Lok Housing Under Construction Apartments 650 1BHK, 2BHK Mar-2012 Dec-2015 3,050 Ambernath East Flora Royal Galaxy Developers Under Construction Apartments 602 1BHK Aug-2012 Sep-2014 3,150