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3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

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3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

Last updated: December 26 2012
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  • 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

    Hi,

    My husband and I are moving back to Mumbai after being in Blore for 2 yrs. He would be working at Nariman Point and I would be working at Thane. We have a 2 BHK at Oshiwara, and we are planning to sell it off and purchase a property which would be between both our offices. Earlier (2 yrs back) it used to take me around 3-4 hrs daily to travel between Oshiwara and Thane and back, hence I don't think its a long term viable option. Also I am sure it is going to take 3 hrs+ daily for my husband to travel to Nariman Point and back.

    We were thinking of Wadala or Chembur and wanted to understand if there are any other suggested locations where we could look at an apartment in the range of 2-2.5 cr, and the travel time can be cut down to 2 hrs a day (1 hr each side). We were hoping for a relatively new project and don't mind waiting for 6-8 months for completion. Also if possible we were also wondering whether a 3 BHK would be possible under such a scenario (wishful thinking!).

    Any suggestions please?
  • #2

    #2

    Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

    Originally posted by ShwetaM View Post
    Hi,

    My husband and I are moving back to Mumbai after being in Blore for 2 yrs. He would be working at Nariman Point and I would be working at Thane. We have a 2 BHK at Oshiwara, and we are planning to sell it off and purchase a property which would be between both our offices. Earlier (2 yrs back) it used to take me around 3-4 hrs daily to travel between Oshiwara and Thane and back, hence I don't think its a long term viable option. Also I am sure it is going to take 3 hrs+ daily for my husband to travel to Nariman Point and back.

    We were thinking of Wadala or Chembur and wanted to understand if there are any other suggested locations where we could look at an apartment in the range of 2-2.5 cr, and the travel time can be cut down to 2 hrs a day (1 hr each side). We were hoping for a relatively new project and don't mind waiting for 6-8 months for completion. Also if possible we were also wondering whether a 3 BHK would be possible under such a scenario (wishful thinking!).

    Any suggestions please?
    You can take home in Thane itself, that ways only your husband will have to commute, by train it would take an hour approx which is the best way.

    Chembur is a good alternative there is a link road to Chembur in the works which might open up next year but it will be a harrowing experience of travelling for sure.

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    • #3

      #3

      Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

      i would go with chembur..good investment in the long run as well.

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      • #4

        #4

        Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

        Chembur will be a nice investment in coming years

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        • #5

          #5

          Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

          Thanks for the suggestions! Some more questions and your expert advice please

          1. How much time do U think it would take to travel from Chembur to Thane and Chembur to Nariman Point?

          2. Which area do you think would be ideal in Chembur considering the 2 work places, also keeping in mind that the area should be a bit green and a good place to live in?

          3. Any suggested residential projects?

          4. Do you think Oshiwara has potential for more appreciation in the coming years? Meaning would be it worthwhile to wait for some more time before planning to sell the property?

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          • #6

            #6

            Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

            I have seen RNA Continental in that area and I really liked but was clearly way out of my budget (~1.5cr). You can also consider Raheja Acropolis whcih seems to be a good project as well.

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            • #7

              #7

              Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

              I have a 3BHK in Oshiwara too and I think prices have peaked now.
              Hardly any deals are happening and happen at much less than quoted price if any. Any price increase now would be just inflation-adjusted which is not a real increase anyway. So unless your building is a candidate for redevelopment, its unlikely to increase much.

              Originally posted by ShwetaM View Post
              Thanks for the suggestions! Some more questions and your expert advice please

              1. How much time do U think it would take to travel from Chembur to Thane and Chembur to Nariman Point?

              2. Which area do you think would be ideal in Chembur considering the 2 work places, also keeping in mind that the area should be a bit green and a good place to live in?

              3. Any suggested residential projects?

              4. Do you think Oshiwara has potential for more appreciation in the coming years? Meaning would be it worthwhile to wait for some more time before planning to sell the property?

              Comment

              • #8

                #8

                Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

                Originally posted by sh-saxena View Post
                I have a 3BHK in Oshiwara too and I think prices have peaked now.
                Hardly any deals are happening and happen at much less than quoted price if any.
                ------ Link road Oshiwara 2BHK MAHDA Flats that are road touch are not less than 1.50. Shantivan Mhada may go for redevelopment.Te flats or buldings that are on Link road are still in demand last month one flat of 2BHk area 865 Sq feet or 840 feet is sol for 1.40. I think it was in building number 27 opposite to Meera Tower.
                Any price increase now would be just inflation-adjusted which is not a real increase anyway.
                So unless your building is a candidate for redevelopment, its unlikely to increase much.
                ----- according to a broker all Mhada HIG building society are ready for development but MAHDA is asking 20% flats from Builder and they are waiting.
                I have not stayed in Chember and i cant comment if chambur will be better than Oshiwara to commute to Thane and Fort. I will prefer Oshiwara than Chambur .

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                • #9

                  #9

                  Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

                  Originally posted by sh-saxena View Post
                  I have a 3BHK in Oshiwara too and I think prices have peaked now.
                  Hardly any deals are happening and happen at much less than quoted price if any. Any price increase now would be just inflation-adjusted which is not a real increase anyway. So unless your building is a candidate for redevelopment, its unlikely to increase much.
                  Yes I think the same, that my apartment in Oshiwara may not appreciate much now. Oshiwara is a lovely and self sufficient place otherwise, but if someone is working out of Andheri it is task in itself to enter Andheri from the East-West connecting road which is jam packed, besides the Link road which is again jam packed especially during evenings.

                  Our bldg society folks talk about re-development since ours is a 10 yr old building is now starting to deteriorate. But I doubt whether things will move quickly in that direction. Am sure in the mean time if the same amount is invested in a better project which is still not reached its price maturity, it will yield better returns.

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                  • #10

                    #10

                    Re : 3 BHK, 2.5 Cr, Wadala / Chembur, Mumbai : Suggestions

                    Welcome Back!!

                    Originally posted by ShwetaM View Post
                    Yes I think the same, that my apartment in Oshiwara may not appreciate much now. Oshiwara is a lovely and self sufficient place otherwise, but if someone is working out of Andheri it is task in itself to enter Andheri from the East-West connecting road which is jam packed, besides the Link road which is again jam packed especially during evenings.

                    Our bldg society folks talk about re-development since ours is a 10 yr old building is now starting to deteriorate. But I doubt whether things will move quickly in that direction. Am sure in the mean time if the same amount is invested in a better project which is still not reached its price maturity, it will yield better returns.
                    Welcome back!!

                    Further to your post my take is as follows:-

                    01, Think twice before u sell-off Oshiwara flat- the current rates are touching 20k psft and expect further rise - plz note JVPD is now doing 30k psft...

                    02. 10 yr apt will take another 5-6 yrs before it can safely go for re-development - anyways it wud be better to rent-it out rather than sell it.

                    03. Also, plz note - a NEW road connecting Oshiwara to JVLR is under construction - it will connect Infinity Mall junction to JVLR - this fly over will cut down drastically the travel time from west to east in Andheri - check it out urself...if u land on JVLR in 15 min then Thane by road is another 40 minutes via Eastern Highway- well u can reach Thane in abt 1 hr to 1.20* min (estimated) by road from Andheri West...i am sure u know how much time it takes to NP via Worli Sealink...(I am sure this new info will help u to re-think of selling Oshiwara.)

                    03. U have 3 options just in case u wanna sell of Oshiwara...though i personally wud not advice you..

                    Option1--> Navi Mumbai - Luk for spacious 3BHK in KoperKhairane / Ghansoli - u will have greenery, fresh O2 air and less pollution

                    Option2--> Mulund West- check out Runwalls next Fortis hospital and nearabouts...u can get a 2BHK in abt 1.25 cr

                    Option3 --> Thane West itself - Pokharan Road #1 &2 or GB Road- u can get lots of 2BHK in 80L or 3BHK in 1.20cr - Did u check Rustomjee Urbania @Manpada junction?

                    Personally, i wud avoid Chembur & likes...

                    Let me know if you need any other information...

                    regards
                    SS

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