Sheth Creators Launches Beaumonte, a Mega Residential Development at Sion, Mumbai

Sheth Creators, a leading real estate company catering to the luxury and ultra-luxury segment, has launched Beaumonte, a new age iconic residential development based in the heart of central suburbs, Sion in Mumbai.

The project is a premium residential project consisting of 45 residential floors. The structural and landscape architecture of the project is maneuvered by P&T and EcoPlan Asia from Singapore, respectively.

Beaumonte offers housing choices comprising of 2, 3 BHK residences and is spread across 2.6 acres. Beaumonte is a tapestry of experiences pulsating with vibrant life and activity. The landscaping interspersed with a plethora of amenities includes, meditation/yoga room, montane bar, evening lounge, open-air library and dining, kid’s play area and barbeque space. This project currently instills one tower endowing state of art entertainment and fitness center, a company release said.

Beaumonte is strategically located and brings in great advantage to the potential residents who are looking for nirvana living. The key highlights of the project are the superfluity of amenities designed to exuberate and help amass the feel of complete and refined living.

According to Hiral Sheth, Director Marketing, Sheth Creators, “At Sheth Creators it has always been our consistent endeavor to bestow better living to our consumers by offering world class services. Sion is centrally located and is currently preferred destination that houses social and recreational infrastructure. Beaumonte provides a panoramic view and is designed by one of the finest design consultant P&T and EcoPlan Asia from Singapore. The construction is in full swing.”

Beaumonte at Sion is associated with essential junctions via roads and metro outlines. The project situated in prime locale, is one of the most prominent places of central Mumbai. The location is equidistant to the infrastructural developments like the Eastern Express Highway, Navi Mumbai, Santacruz-Chembur Link Road, Eastern Freeway and BKC. Cities finest hotels, malls, premium entertainment hubs and business centres are just a drive away from Beaumonte.

Beaumonte offers hassle-free connectivity to any part of the city, be it domestic and International airports, on one end and connecting to Navi Mumbai, Bombay Pune Express way on the other. The location has connectivity to all sought after destinations like Bandra, Nariman Point, Worli, Ghatkopar, Andheri, Thane, among others and business districts of CBD’s & SBD’s. The project boasts of booming social infrastructure with eminent schools, colleges, designer jewellery showrooms, in the vicinity and recreational centers at every nook and corner.

Everything at Beaumonte is designed in opulence and grandeur. All, nestled within the buzzing hub of Sion, tinged delightfully with one stop shop amenities, the project caters to the innate needs of the buyers.

Mumbai's office space leasing to pick up in 2015: CBRE

Mumbai: Office space leasing activity in the city is not expected to move significantly before next year although the sentiment in the real estate sector is witnessing some improvement, says property consultant CBRE.

"Market sentiment in Mumbai's office space has seen a slight spurt in the April-June period compared to the last couple of quarters and is expected to fare better in Q3 of 2014," CBRE's South Asia Chairman and Managing Director, Anshuman Magazine, said in a statement.

"However, ground realities in this segment are hardly likely to change this year as far as actual investments and project funding are concerned," he said.

Although a gradual recovery is on the cards, office space leasing activity is not expected to move significantly before 2015, he said.

The micro-markets of Bandra–Kurla, Lower Parel and Andheri are likely to witness a reasonable level of corporate interest mainly due to a surplus supply situation, Magazine said.

The rentals are, however, likely to remain stable in the micro-markets and would continue to remain so over the forthcoming quarters too, he added.

According to CBRE, central business district of Nariman Point, Fort and Cuffe Parade saw sluggish transactions during the second quarter of the year.

Magazine said: "Enquires remained limited to small and medium sized office spaces in some of the prominent commercial developments. Vacancy levels increased marginally owing to shift in occupier interest towards other cost effective micro-markets, while rental values declined owing to subdued demand levels."

Office leasing activity, however, picked up in Lower Parel, mainly driven by financial services and FMCG sectors which took-up mostly small to medium format office spaces.
 

Worli and Prabhadevi also witnessed an increase in leased space during the review period, driven by pre-commitment in IT development in the previous quarters.

"Despite this increase in office space absorption, overall occupier demand remained largely subdued, leading to a rental correction of about 2–3 per cent on a quarterly basis in these markets," the property consultant said.

Though Bandra-Kurla Complex, Kurla (W) and Kalina witnessed few large sized transactions from the banking financial services and pharmaceutical industries, existing vacancy pressures in the area resulted in a rental decline of 2–3 per cent over January-March 2014.

Rentals remained stable on a quarterly basis at  Andheri, Ville Parle and Jogeshwari, however, the completionof various infrastructure projects propelled demand for office space, CBRE said.

"Going forward, demand for corporate office space is likely to be concentrated in the city's secondary and peripheral markets, owing to the abundant availability of cost-effective Grade A options. Additionally, the completion of key infrastructure projects may help improve demand in certain micro-markets in the medium term," Magazine said.

Along with financial institutions and pharmaceutical firms, engineering companies are also likely to lead office space demand in the forthcoming quarters, he said.

More traction is expected from corporate occupiers in the back-office market of Powai and Goregaon to the peripheral locations of Navi Mumbai and Thane in the coming quarters, the release said.