Mumbai based Omkar Realtors & Developers, one of the country’s leading brands in redevelopment, boutique and luxury housing, is launching a 1200-strong residential project in end-November 2017. This low ticket sized boutique inventory offering will be the biggest realty launch across pan-India market post-RERA.
The RERA compliant project, currently codenamed “Passcode Andheri Highway”, consists of 1/2/3 bhk units with the ticket size ranging from Rs. 87 lakh to Rs 1.6 crore onwards (355 sq.ft -710 sq.ft carpet area). The project located on the western express highway of Andheri-Jogeshwari east corridor comes with a record 30 plus amenities and an inventory of 1200 plus apartments as part of Phase 1 launch.
According company spokesperson Mr Suresh Rathod : “The project with a fair share of inventory under sub-Rs. 1 crore bracket holds strong attraction for pan-India customers and investors looking at buying in country’s primary realty market. Not only does this ticket sizing compare well with Kolkatta market, it holds attractive ROI proposition at the current pricing level.” “The trading community from Kolkatta hold major investment interest in Mumbai market and also Omkar projects”.
Mr. Rathod added that the buyers are eyeing inventory in areas with upcoming infrastructure developments such as Metro, Mono rail, new link roads connecting the East -West Corridors etc., and Andheri-Jogeshwari is one such key location in Mumbai. It augurs well for the well heeled HNI’s, trading and SME communities from Kolkatta spanning textile, commodities, manufacturing, stocks amongst others”.
The project is srategically located on the Western Express Highway enjoying easy access to domestic and international airports comes with flexible payment plans and minimal down payment options. The key target customer groups in this micro market spans SME’s, trading community, corporate professionals, media & entertainment industry. The location is one of the most sought after by Mumbai’s film and television fraternity including artistes and production houses.
Omkar’s key projects Omkar 1973 Worli (South Mumbai), Omkar Alta Monte (western suburbs), Ananta (Goregaon east), Signet (Malad east) has a customer base spanning some of the leading names from the world of arts, sports, entertainment and corporate sector.
Omkar’s Kolkatta outreach:
Omkar has a 4,000-strong customer base including pan India locations and global NRI communities. The customer and investors traction has been on the increase from key Pan India markets with outstation investment accounting for approx. 10% percent of the company portfolio. With the business and trading communities based out of Kolkatta looking at Mumbai micro markets as an attractive investment destination, Omkar has expanded its channel partners out reach in this market and has been steadily builing up its client portfolio from this region.
While Mumbai’s corporate sector has been drawing mid-level and senior level talent from the key Pan india markets who eventually buy into Mumbai’s realty market, Kolkatta’s trading verticals spanning commodities, stocks, textiles & manufacturing segment have historically accounted for major investments in all ticket sized realty projects in Mumbai.
For Omkar, the investment sentiment from the Bengal region has seen a marked interest recently accounting for a Rs 100 crore plus realty portfolio.
According to Mr. Rathod, the marked interest level from Bengal region, especially Kolkatta is indicative of high trust quotient and transparency factor prevalent amongst customers for leading branded players in Mumbai’s residential market.