Origin Launches Shubh Atika for Women in Mumbai

Mumbai-based Origin Realtors LLP has launched a new project in Mira Road under their brand, Shubh, with an innovative concept 'Atika' to celebrate womanhood.

Shubh's concept of 'purposeful housing for special sectors of the society' has been created to honor and nurture niche segments. Currently, it is focusing on special sectors of the society like women, senior citizens, and military personnel, etc. Shubh initiatives offer a unique advantage to these special sections - ownership exclusively to the members of these categories with an initial foray into the world of women.

Shubh Atika for Women

Atika is a unique tribute to the strengths and creativity of women with its one-of-a-kind property with ownership exclusively for women. Atika is embellished with basic and high-tech amenities. Well-connected to the MMR region, the project is a 5-minute drive from the station and a 5-minute walk to the Western Express Highway.

Atika is conveniently close to shopping areas, markets, salon, and restaurants. Its retail space, Aspire Zone, located on the ground floor, includes commercial establishments like a supermarket, clinic, pharmacy, ATM, and more. To ease the hectic lifestyles of professional women, schools, colleges, theaters, sports clubs, police station, fire station and hospitals are stationed in the vicinity. Atika has given importance to security and an array of top-notch amenities. It has been planned specially for the welfare of women.

Spread across a sprawling 2,245 square metres, Atika has a large part of its expanse dedicated to green open spaces. The project has magnificent 21-story towers scaling a height of 67 meters. Every adobe of Atika is meticulously constructed with the finest imported materials and contemporary design.

The opulent flats have spacious configurations of 1 and 2-bedroom apartments, ranging from 480 sq. ft. to 677 sq. ft. All of the apartments enjoy ample sunlight, fresh air and breathtaking views from all sides.

Bhavya Shah, Director, Origin Realtors LLP, said, "I am delighted to announce that Origin debuts on to Mumbai's real estate scene with a confidence born of concrete achievements. We undertake to scale greater heights of unparalleled design, state-of-the-art technology and inspired vision. Origin presents a union of precision, original design and the assurance of timely delivery. Origin's Shubh aims to honor special sections of the society, because they deserve it. With Atika, we are saluting women, with ownership exclusively for women."

About Origin Realtors LLP:

Origin Realtors LLP debuted on Mumbai's vast real estate industry in 2016. It boasts an extensive land bank, stretching across the metropolis. Each of Origin's projects will ensure homes with meticulous planning, foresight and an uncanny knack for anticipating the varied needs of its inhabitants. The projects have been crafted with an eye to sound construction and comfort for its residents.

Omkar Developers begins redevelopment of Majas and Mogra slums in Mumbai

 One of Mumbai's most dense and largest residential slum pockets spanning 70 acres - village Majas and Mogra (Majaswadi and Meghwadi) housing about 70,000 slum dwellers, after decades of uncertainty on redevelopment front, finally saw the dawn of redevelopment.

The Gandhinagar belt of the slum pocket, located at the Jogeshwari East belt off Western Express Highway, has witnessed the commencement of Phase 1 of redevelopment process with a Bhoomi Pujan recently in presence of the State Housing Minister Ravindra Waikar and over 3,000 residents.

Being redeveloped under the SRA scheme by city's leading slum rehabilitation firm Omkar Realtors & Developers, the Gandhinagar area has a 5,000-strong slum population spanning over 3 acres.

According to company's Managing Director Babulal Varma, Omkar has already rehabilitated over 50,000 slum residents across Mumbai city with quality housing and currently enjoys consent of more than 10,000 residents in the Jogeshwari East slum pocket.

"Our vision is to create a smart city in this vital micro market, a first for any SRA project and a life transforming initiative for the existing slum population whom we look forward to complete support," Varma added.

He further stated that Omkar has deployed the latest construction technologies for all its rehabilitation towers across Mumbai city and is confident of housing residents of Majaswadi and Meghwadi in record timelines in phases. The company had constructed one of its 23-storeyed rehab towers at its Goregaon East SRA project within a record time of six months last year.

The constituency of village Mogra and Majas, whereby Omkar has commenced redevelopment, is a conglomeration of 30 slum housing societies with a majority of Muslim and Maharashtrian communities.

One of the largest slum pockets, after Dharavi, the Majas and Mogra slums have been long considered as one of the most backward slum pockets of the city with any form of redevelopment initiative failing to take off since decades.

Presently, Omkar post its presence in this slum pocket since second half of 2015, enjoys a strong support base of the 70,000-strong community.

Considering its size and density, the Slum Rehabilitation Authority (SRA) had commenced its landmark programme of 'Door-to-Door Biometric Slum Hutment Survey' at village Mogra and Majas in December 2015. The on-going survey is a first-ever kind of an initiative towards empowering the city's slum population to establish their residence proofs and provide them the 'Right of Residence'. The survey is aimed at ensuring rehabilitation of slums, hutments in a proper and systematic manner for achieving the state government' 'Slum Free Mumbai' vision by 2022.

Omkar is currently working towards rehabilitating more than 2 lakh slum dwellers by 2020 across Mumbai city. The biggest of its SRA projects are being constructed by the country's leading construction firm Larsen & Toubro (L&T) and it has also deployed the most advanced engineering technologies from global markets for time-bound deliveries. 

Kotak backs Sunteck’s Rs 300 cr land deal in Goregaon

Nestled on either side of the railway line by the Western Express Highway and the Linking Road, Goregaon is fast becoming hot destination for real estate enthusiasts. Land prices are hitting the roofs with more and more mega projects coming up in this western suburb. Not to left  behind in the realty boom, Sunteck Realty is negotiating to buy a huge piece of land in this wealthy suburb for a mixed-use development.

Kotak Realty, the private equity arm of Kotak Mahindra Bank, is backing the Mumbai-based real estate developer Sunteck Realty Ltd’s plan to acquire about 16 acres of land in Goregaon West, Mumbai. The deal involves Sunteck Realty acquiring the land parcel for Rs 300 crore, with Kotak Private Equity pitching in with Rs 150 crore in the transaction.

Interestingly, Kotak’s realty group is increasing its bet on Sunteck Realty as it already holds 9.5 per cent stake in the listed parent through Kotak Alternate Opportunities India Fund. Kotak Realty Group has also invested Rs 100 crore in Sunteck’s Star Light Developers, which is developing a residential complex in Bandra.

The share price of Sunteck closed at Rs 371 a unit on Thursday, up 0.84 per cent after rising more than 3 per cent in intra-day trade, reports Vccircle.

The deal would further expand Sunteck’s presence in Goregaon West, where it already owns seven acres within a distance of 200 m of the current acquisition. The project, proposed on 16 acres of land, will enable the company to develop approximately 4 million sq. ft. of multi-use development with a predominant share of residential development, in addition to commercial and community retail locations.

The land parcel is located just off the elevated link between SV Road and Western Expressway, which is under construction, and in close proximity to two major stations on the Western Line.

“This is yet another example of how Sunteck Realty has built out a portfolio of properties across Mumbai, with near-term cash flows through aggressive acquisitions in each down cycle of the property market. Along with our residential development in Bandra Kurla Complex, Goregaon has emerged as the next most valuable destination for the company with 23 acres in total for two projects, which would roughly involve 5-6 million sq. ft. of developable area,” said Kamal Khetan, CMD of Sunteck Realty.

“Sunteck has a total of 23 acres in Goregaon West, spread over two projects, which we believe has emerged as one of the most desired locations in the western suburbs, given the proximity to world class malls, educational institutions, hospitals and commercial hubs in the city. We believe that with this acquisition, Sunteck Realty will now have a long-term play in this prominent suburb in the medium term, with the proposed multi-use developments in the immediate neighbourhood,” said Hari Krishna, director of Kotak Realty Fund.