In the city of Mumbai, living close to the workplace is a dream cherished by many, particularly by those who spend a considerable portion of their time commuting to work. It is not uncommon for people to spend 2 – 3 hours each day traveling between work and home, with the travel time increasing substantially during the rainy season. However, due to the mercurial rise in property prices in Mumbai each year, affordability of residential property near the workplace always remains an issue. In such a scenario, if people can ‘Walk to work‘, they will not only cut down the long commute and evade agonizing traffic jams, but also gain sufficient time to pursue their interests.
Last week, I had received an invite from Omkar Realtors and Developers to attend an event that included a presentation by the Chief Marketing Officer on Omkar Meridia, a property at BKC Crossing. The event conducted at the property site itself, also included a visit to the sample flat. I registered for the event and reached the venue on the given hour.
The discussion with the CMO centered not only around the property but also around Bandra Kurla Complex (BKC), which is an important business hub in the Mumbai suburbs, and the office destination for lakhs of people. Though there are many commercial establishments and government offices in BKC, at present, there are not enough modern residential developments in and around that area. As a result, majority people who work in BKC do not reside in and around the location, and some have to commute for long hours.
Here I enlist the key points about the property.
Walk to work is the mantra behind the project
Omkar Meridia located at BKC crossing is at an arm’s length from the city’s main business district. It could be an option worth considering for those who work at BKC, and commute from distant suburbs. Proximity to workplace would drastically cut down their commuting time, and thus leave them with sufficient quality time for themselves and their family.
There are some good schools such as Arya Vidya Mandir, Orchid International School , Mt Litera International School in the vicinity of Omkar Meridia. Health facilities such as Asian Heart Institute, Gurunanak Hospital, Lilavati Hospital and Research Centre are in a 3 km vicinity. Phoenix Market City, is one of the largest shopping malls in Mumbai, too, is close by.
The property offers locational advantages such as proximity to the Bandra station, domestic airport, proposed metro station, both Eastern and Western Express Highways, and easy access to Santacruz Chembur Link Road. A proposed 13.4 metres DP Road parallel to the apartment is expected to vastly improve the accessibility, in addition to the upcoming Charkop-Bandra-Mankhurd Metro line.
Design and Amenities
The cozy and compact flats with modern finish are suitable for small families. The size ranges from 695 sq. ft to 1260 sq. ft. (1/2 BHK).
The sample flat we saw was a 3 BHK. Interior specifications of the flat included AC’s in living room and bedroom, modular kitchen cabinets with counter, imported marble flooring in the living room and passage, laminated wooden flooring in the bedrooms, sanitary fixtures and ceramic tiles in bathrooms. Other common amenities include a fully equipped health centre, swimming pool, rooftop jogging track and a play area for children.
Attractive Price Point
While the real estate inside BKC is skyrocketing, being located in a pocket at a stone’s throw from BKC, Meridia is priced attractively, with 1 to meet the rising demand from office going buyers working in and around BKC. There are 1BHK units of 695 sq ft available at Rs. Rs 1.19 crore (plus taxes), 1.5 BHK and 2BHK flats of 900 sq ft area priced at Rs 1.46 crore (plus taxes), and Rs 1.65 crore (plus taxes) respectively, and a grand 2BHK of 1260 sqft at Rs 1.96 crore (plus taxes).
The moderate size of the property (under 200 apartments) also contributes to the attractive price point.
Early Possession and loan Options
Omkar Meridia offers an early possession in mid-2017. The property has a clear title. Financing options are also available from leading banks and financial institutions that offer home loans.
The CMO mentioned that BKC has seen a very high appreciation in the Capital values during the past two years, and the capital and rental values are slated to grow sharply in future as well.
According to recent reports, MMRDA plans to develop BKC as a “smart city” in order to strengthen its brand value. Besides, the State government is considering extending the BKC Eastern Boundary to accommodate the International Financial Services. The real estate projects in the vicinity would benefit substantially from these developments. The location is expected to appreciate by 100 % or more in the 2-3 year window says JLL India Report, Jan 2015.
For the executive class, having disposable income in hand, the property could also be considered as a great investment opportunity.
For more details, please visit the website of Omkar Meridia (www.omkar.com)
This is a sponsored post, written is association with Blogmint and Omkar Meridia
Image source : Omkar Meridia
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