Mumbai Update II - project news from Mumbai ‎

[Monkey]

Originally Posted by Jai

Holy crap! Three towers of 65 stories each and that too in Andheri!

It does look like a prerendering/proposal though. I sincerely hope the building designs themselves are not finalized. Such signiature towers shouldn't look so... bland. Though the plan overlaid on the ground seems to suggest that they would have interesting lanscaping.

On second thought, if the blue is glass and not concrete, than it should look decent, though uninteresting. If it were concrete, what a shame!


Any idea who the builder and/or architect is? Where'd you find this Sun?

I like the simple slim design. India's architectural and aesthetic traditions do not include minimalism. Indians seem to go for lush colour and rich detail and ornamentation. Perhaps that's why you don't like it? Personally I like them sleek and simple...

Will Imperial Heights be taller than Imperial Towers?

[VaastuShastra]

I like that.

[Cov Boy]

I like it too!

Who knows which building or what new project will be Mumbai/India's next tallest building.

Whats the latest on Imperial Towers?????

Rent control should be abolished as soon as possible and new laws made. This actually is being currently drafted by the state government as the new housing policy for he state which will give fairness and all people of all social income groups a chance for better housing.

The Rent Control Act/URCL is actually encouraging slums and decrepit housing conditions throughout the city.

[vibs89]

I can't wait to see The Imperial Tower when I go to Mumbai next time. Last time I saw it was in construction which one of the building was complete and other is yet to complete. The Imperial Tower is like 5 mins from my house in South Bombay. Wonder how it will look when it's complete.

[itsmevishal2k4]

i have a very hsort attention span and dont have much time so keeping this in mind
can someone basically explain the rent control act and other laws prohibiting mumbai in construction ways
try and be to the pt

[Jai]

Looks like Pune-based Kumar Builders is ready to make their bigtime Mumbai move, with this 56 storied residential tower, which would be in one of the following areas: Tardeo, Bandra, Worli or Byculla.



It was taken from their flash animation (which, by the way, was a bitch to capture), with the caption "Mumbai: Reaching Greater Heights."

Awesome looking tower

[Jai]

Parel sells dreams

For decades, this area dotted with chawls and old buildings, has been the identity of the Girangaon — mill land area. But times have changed. The cluster of chawls with their tiny 180-200 sq ft one-room houses have given way to new buildings and bigger houses.

Slums are being redeveloped under various schemes by state government. Malls, multiplexes and highrises have come up and the existing looms, spinning machines and chimneys are fading into oblivion.

Precious lands once belonging to two dozen mills in south central Mumbai — particularly in Parel, Kalachowkie, Ghodapdev, Lalbaug, Sewree — have turned a over a new leaf. The huge residential complexes, malls taking shape tell the success story of urbanisation. Slums have turned goldmines with overwhelming offers of redevelopment. Though the slums underwent redevelopment decades ago, there were no provisions to meet the heavy maintenance cost of the new flats. Today, builders offer hefty amount as corpus fund to tide over the problem. “Tenants from old chawls and slums get bigger living area. But prohibitive outgoings in new buildings make it an unaffordable proposition for most. Many old tenants preferred to sell their flats and shift to suburbs,” said Suresh Panchal, resident of Lalbaug. So lucrative has construction business become in the area that many local politicians have either turned builders themselves or shook hands with them to facilitate smooth construction of the projects.

“Many Shiv Sena, NCP leaders have openly entered the business. How will the people will believe their credibility?,” asks another tenant of a chawl in Parel. The other fear the old tenants nurse is of a possible water shortage in future. Huge towers and housing societies have their own huge storing capacity tanks, which can swallow the water supply to the old buildings. “But with additional water supply of 350 MLD in city, we can cope with the problem,” said Shiv Sena Corporator from Bhoiwada Shraddha Jadhav.

With decreasing slums, density of population also has seen a diminishing graph. The population has therefore slumped by 15,000 in last five years. The ward has the largest number of hospitals, who because of the financial crunch have jacked up rates, making treatment costly.

[itsmevishal2k4]

this is good


India's property boom yields high returns By Shailendra Bhatnagar
Tue Jan 2, 6:27 PM ET



NEW DELHI (Reuters) - Rajan Sharma bought 4,000 square feet of office space on the outskirts of India's capital, New Delhi, for 2,900 rupees ($65) a square foot in 2002 and hasn't stopped grinning since.

Four years later, the 42-year-old consultant regularly gets offers more than three times the price he paid for the same office space as the arrival of foreign players, easy finance and rising incomes fuel a rush for prime real estate.

"It has been a very short but a hugely profitable journey," Sharma, who now runs a property firm, told Reuters.

"Seeing these profits I feel I should have done real estate all my life."

He is not alone.

There are literally thousands of sellers and speculators who have laughed all the way to the bank because of a property boom in New Delhi and its two satellite towns -- Noida and Gurgaon.

The pace has been almost as brisk in many other cities in India.

In Delhi, prices have been pushed even higher by a government campaign to close shops and offices built illegally in residential neighborhoods, adding to already fierce competition for commercial property.

And a spreading underground rail network in Delhi, which will eventually reach parts of Noida and Gurgaon, has spurred property prices along existing and planned routes.

"There is also fundamental and growing demand for office and retail space because of sustained economic activity driven by software companies and branded firms," said Tanaji Chakrabarti of real estate firm Trammell Crow Meghraj.

Delhi and its suburbs are also home to fifth-ranked software services exporter HCL Technologies Ltd. and huge backoffice units of companies such as American Express Co. and Convergys that employ thousands of staff.

The $23 billion software services sector has been one of the biggest consumers of real estate along with changing shopping tastes that are favoring multi-brand malls over neighborhood mom-and-pop shops, said Chakrabarti.

A NEW ECONOMY

Spurring the boom, the government has slashed cobwebs of legislation by allowing 100 percent foreign direct investment in large projects. Stamp duties have been rationalized and reduced, and a policy to set up special economic zones is boosting industrial growth.

Nascent chains such as Pantaloon Retail (India) Ltd. and Reliance Retail Ltd. have lined up multi-billion dollar expansion plans in which the largest component has been set aside for leasing or buying organized retail space.

In addition, companies such as Nike Inc. and Adidas are deepening their presence through franchised operations beyond India's metros to soak up demand from millions in the growing middle class.

"The demand for retail space across India will increase," said Vivek Dahiya, associate director at global property advisor DTZ India. "Certain markets seeing oversupply will see reduction in vacancies."

In Delhi, Gurgaon and Noida alone organized retail space is likely to rise to 14 million sq.ft. by the end of 2007 from 2 million now, he said.

But the sharp rise in commercial rentals in the past three years is hurting growth prospects of organized retail chains, which operate on margins as low as 3-4 percent.

"Rentals are now dramatically higher - by at least 50 percent in a lot of cities," said Kishore Biyani, managing director at Pantaloon. "At these prices we can't sign up new properties."

Biyani, who started retailing in 1997, said annual sales needed to be at least 50 percent higher to offset rising rentals.

In central parts of heavily congested Mumbai city, monthly rentals for discount stores have soared in excess of 125 rupees sq.ft from 55 rupees sq.ft about 2 years ago, said Pranay Vakil, chairman at Knight Frank India.

"This is madness and has little relevance to actual supply and demand factors," Vakil said. "Rentals are now crossing the industry norm of 12 percent of gross sales, making it extremely difficult and unaffordable for retailers."

But even after this rise, monthly retail rentals in prime commercial space or "high street" in Mumbai are low at $11 per sq.ft compared with $24 in Singapore and $80 in Hong Kong, according to data from Knight Frank India.

SERVICES SECTOR

Research firm SSKI forecasts demand for 160 million sq.ft. of commercial real estate over the next 3-4 years, driven primarily by the services sector, which contributes nearly 55 percent of GDP in Asia's fourth-largest economy.

Similarly, the housing sector is likely to see 15.9 billion sq. ft. of construction by 2010, SSKI said in a recent report.

However risks abound despite runaway gains and could harm short-term demand for residential property.

"The sharp run in property prices over the last 2-3 years and an upturn in the interest rate cycle are the key risks," said Shirish Rane, an analyst at SSKI.

"Commercial and retail properties are threatened by the trend of rising rentals which impact profitability."

Prices of prime residential property in central Delhi have soared more than 75 percent over the past two years thanks to demand from a growing tribe of millionaires and a law that limits the number of floors that can be constructed.

All this euphoria has also spilled onto the stock markets where the real estate stocks have been among the top performers thanks to scarce supply of quality paper.

Initial public offerings of firms such as Parsvnath Developers Ltd. have seen huge demand and the stock listed, in November, at an 83 percent premium to the issue price of 300 rupees.

($1 = 44.61 rupees)

(Additional reporting by Nitin Luthra)




A high-rise building is lit up during construction in Mumbai December 22, 2006. (Arko Datta/Reuters)

[dreadathecontrols]

Originally Posted by itsmevishal2k4

i have a very hsort attention span and dont have much time so keeping this in mind
can someone basically explain the rent control act and other laws prohibiting mumbai in construction ways
try and be to the pt

Ok i'll give it ago. Someone put me right if i aint.

ULCA - Urban land ceiling act. restricts any one party from aquiring more than a stipulated amount of land in any one location. .So therefor restricts freed up land for developement.

Rent control act - Means rents are fixed at a set rate.(1950's rates ?)means lease holders cannot put up rents and therefor mailytain buildings.I think it also means tenants have very strong tenancy rights & cant be evicted

These two above are common socialist legislation used internationaly, but repealed elsewhere when it became clear they didnt work.Protected private tenants who couldnt afford to pay new rents were then put into newly built state low rent housing

F S I - floor space index.Every city has them.It means the relationship between land occupied & height. Bombays is 1.5 think.Its obviously being flouted.Also there is a legal get out cluase in bombay to get around it, something aboput land usage.

theres also an act in bombay that restricts coastal development, supposed to be a conservation law.

[itsmevishal2k4]

thanx dread the controls

anybody know more info on the new taxis supposed to come out i think it was lancer or esteem or somthing

[Hindustani]

This is a great example of 'glassy' facade making a very ordinary design look outstanding.

Originally Posted by Jai

56 storied residential tower

[Jai]

Firstly,

A Time For Renewal
From The Economic Times Epaper, 04 Jan 06

The development of the 400-acre mill lands will see the landscape of Mumbai undergo a change in the near future

Padma Ramakrishnan

As leading multinational corporations, equity funds and insurance companies look to doing business in India and eye the financial capital of the country; they can now look forward to world-class premises in commercial, retail and residential. The landscape of Central Mumbai is all set to change with the development of the mill lands constituting 400 acres.

Earlier, nobody wanted to go to Lower Parel; today everybody wants to be there, as development starts on the mill lands bought at astronomical prices. As developers here have invested so much, they will have to prove themselves. Though most of these projects are two and a half years away, these would be superior in terms of infrastructure, quality and ambience The land values they will fetch will be high, as compared to last year. As prices are heading higher, the entry of good developments will act as a reliever for the market.

According to Bharat Yamsanwar, Principal architect, Team 1 Architects, "With the availability of 400 acres of mill land, you can formulate a major plan for commercial, residential development in the central island city, which is the need of the hour. Since the investments are high, most of them will be mixed developments; these high quality constructions will be the baseline for the next century."

According to Mayur Shah of Marathon Realty, who is developing seven and a half acres of Piramal Mills, four acres of Mafatlal Mills and 12 acres of Khatau mills: "Central Mumbai is a strategic location close to the financial centres of RBI, the stock exchanges, the Central business district of Nariman Point, Fountain and Fort, besides being close to the airport. This strategic location gives an opportunity to different segments entering India."

Shah points out that global corporations setting up office in India need world class requirements - large floor plates, glass facades, grand lobbies, open spaces, more than sufficient car parks, security systems and power back ups. They are ready to pay lease rentals of Rs 160 to 200 per sqft but need their requirements in terms of power back-up and ambience, which they are unable to find in the existing CBDs. They are looking at how quickly they can start hassle-free business. Besides office premises, they are looking at high-end residentials to house their employees in the vicinity, by way of the walk to work culture. Many of them want to retain their expats and have to accommodate them suitably. “Our project, 'Marathon Gen,' has seen 70% completion, and would be a mixed development of 50% residential, and fifty per cent corporate offices,'' he says.

He further says that the 36-storied 'Marathon Era,' a world-class building has offices of international companies like Dawnay Day from UK and other companies from Taiwan. A leading billion dollar UK asset company has negotiated for offices and residences for its employees in the same complex. 'Marthon Innova' has also seen a client base of foreign companies. These companies are looking at large floor plates, one car park for every 500 sqft and not all of these amenities are available in the present CBDs and hence even as they can afford Nariman Point prices, they prefer to be in Parel.

"Indian companies too are expanding. Media companies, financial services, prefer this area, as it could draw employees from South Mumbai and the suburbs. The area has already seen the ITC Hotel, and there are three or four more such hotels being planned. Why will hotels come up in this location? It is a demand driven development. Nobody would do this kind of development without a thorough study of demand,'' he adds.

Organised retail would entail better quality buildings which would change the overall land scape of the city. On the 1.2 million sqft development on Mumbai Mills, DLF is planning a unique shopping experience designed by USbased Jerde Consultants, who have designed malls in the US, China and other parts of the world. According to sources close to DLF, the aesthetically designed mall would be a composite experience for everyone from the age of four to 65. There would be infrastructure support in terms of large car parks; entertainment experience, small amusement courts, regular experience of anchors. It would have mid-market brands, judicious mix of Indian and international brands, multiple food courts catering to different segments.

DLF is also planning a high profile mall close to the racecourse; a dedicated four lakh sqft upmarket mall catering to very expensive top line brands. A Louis Vuitton, Armani, Versace, or Cartier, are not interested in the neighbourhood of Spencer. They demand a different ethos, profile and positioning, something exclusive where an ambience is created through wide passages, classy, silent and elegant experience. This could be located only in the metropolitan cities where you would have the population who have travelled across the world and want a similar lifestyle.

Lodha Group's upmarket residential project on Apollo Mills is a sale by invitation project catering to high-end professionals travelling across the globe. Says Abhinandan Lodha, Director, Lodha Group, 'Bellissimo' would be a lifestyle project with open areas, cricket pitch, garden at every fourth level. Ninety per cent of the project is open space while 8% of the area is constructed. The amenities would be never before seen in India. The first phase of the project started two months ago, and we are yet to finalise plans for the second phase. We are looking at completion by the third quarter of 2009.

Over a period of time, Central Mumbai will provide the lifestyle as South Mumbai has very limited space. The rates would depend on project specifications. It could be anywhere between 15,000 to 30,000 per sqft in the next year, depending on how you have conceptualised and targeted your segment, says developers.

Explains Rajesh Pandit, Head Western Region, CB Richard Ellis, "there is currently no supply in terms of the demand and rentals are on the high side. The supply will ease pressure. As time passes, MNC requirements would be, not just in terms of floor plates and technicalities, but user friendly buildings with international specifications. These constructions would be mixed use and take care of the requirements of the people; where you could give your car for servicing while at work, buy groceries, eat in a hotel. These complexes will see more planning and thought processes involved from architects and builders, keeping in mind the overall scenario, which will be their plus point."

Over a period this strategic location will see a further boost with the enhancement of the east west connectivity and the harbour link. The pressure on infrastructure, however, will certainly have to be worked out. The BMC has so far not been proactive in planning. Traffic moves need a master plan and smart planning to encourage people to move here.

Highlights of the article:

1. Mumbai's skyline will be dramatically changed in the next couple years

2. Most projects are still 2 years to completion

3. Three to four more hotels the scale of ITC Sheraton are planned.

4. DLF plans a huge mall at former Mumbai Mills

5. Lodha Bellissimo to be completed by 3rd quarter of 2009



------==--=--==------


Also, Akruti Nirman has this 45 storey project in one of their ads in TOI.



Unfortunately, thier website seems to be down, so I'm not sure of the project's name and exact location

[Cov Boy]

WOW!

This is cool.

Although some of the new concrete buidlings already built need a paint job as the monsoons blacken the buildings.

[Hindustani]

Jai....................wonderful. I'm speechless. nice'n'glassy & Less concrete.

Originally Posted by Jai

Firstly,
Also, Akruti Nirman has this 45 storey project in one of their ads in TOI.

[Jai]

Some construction photos I posted in the cityscapes thread, edited for clarity:


^ Note The Legend tower u/c -- almost topped out! (From TOI.)



^ Very recent pictures of the skyline at Powai -- starting to get some real density! (from Pamela @ smugmug)


^ A view of the rising Parel area skyline! (from lcrjsb @ photobucket)


^ Another view -- The Imperial looks like it has re-started construction! Also, as Sun said, note the National Sports Club under construction in the foreground. (from jason_india @ flickr)

Cheers,
Jai

[Jai]

Some more information about probable redevelopment into skyscrapers, this time in Worli

Have money, will live in Worli

Surendra Gangan
Friday, January 05, 2007 22:56 IST

With the area falling under Coastal Regulation Zone, it can only see vertical development

Two years ago, real estate prices in Prabhadevi and Worli ranged between Rs6000 to 8000 per square foot. They have now skyrocketed to Rs15000 to Rs18000. If this quantum jump is any indication, Prabhadevi and Worli present a developed face of this burgeoning metropolis. With the death knell of the mills already sounded, Lower Parel is close behind.

Development of plots in South Mumbai has been restricted due to Coastal Regulation Zone rules. There can only be a vertical growth. Naturally, the population burden of that area has passed on to next possible comfortable area — Worli and Prabhadevi.

This is the reason why leading builders like RNA, Lokhandwala, Oberoi have taken care of the redevelopment on mill lands and through SRA schemes. 120 buildings of BDD chawls in Worli, 41 buildings of Adarsh Nagar, Dozens of buildings from adjacent Shivaji Nagar, Koliwada in Worli are said to be the major probable colonies which can be replaced by huge towers in near future.

Highrises and plush colonies have improved the standard of living of the people in the area. But scarcity of schools, colleges, markets and departmental stores as well as open space, play and recreational grounds has been the threatening issues in front of this newly entered population.

“How BMC is going to solve their problem of drinking water and parking facilities is another question, “ said Ashok Salve, a social worker from Worli.

The area — G South ward — has some of the most popular tourist spots including Nehru Center, Dhobi Ghat, Haji Ali Dargah, Worli Sea Face and V Patel stadium. But maintenance of most of them has largely been neglected by the agencies concerned.

Dhobi Ghaat has 735 pit-stones with nearly 4500 laundrymen working in it. But collapsed drainage system, shortage of water-health facilities and slum encroachment has messed up this place, which has acquired heritage status.

Worli-Bandra sea link, which will complete its first phase early next year, has been another issue of concern for the residents. Residents associations have been demanding shifting of the landing point of the first phase to avoid traffic congestion and maintain promenade’s natural sanctity.

Slums in few pockets have been regularly increasing despite strict rules and directives. Geeta Nagar, Shanti Nagar, Dhobi Ghat have witnessed these slums in last few years.

[Suncity]

Originally Posted by Jai

Also, Akruti Nirman has this 45 storey project in one of their ads in TOI.

]http://img236.imageshack.us/img236/2962/akrutiestate45te8.jpg

Unfortunately, thier website seems to be down, so I'm not sure of the project's name and exact location

It's the 'upcoming' Akruti Lakewoods in Thane.
Architect: Deepak Mehta

[Suncity]

Looks like the Sarvodaya Heights has a different look now



The older render

[Jai]

From April 2008, Bandra to Worli in 15 minutes

Hindustantimes Epaper
06 Jan 06
Ketaki Ghoge, Mumbai

CHIEF MINISTER Vilasrao Deshmukh has said that the Bandra-Worli sealink will be operational from April 2008. In an exclusive chat in the HT newsroom on Friday, Deshmukh revealed: “Just this morning, I spoke to the contractor and got an assurance on the date.” The eight-lane sealink — capable of handling 1.4 lakh vehicles a day — will cut travel time from Bandra to Worli to 15 minutes from the 45 minutes it takes now. The 5.6-km sealink, delayed by four years, will cost Rs 1,401 crore. When commissioned in 1999, it was budgeted at Rs 665 crore.

Deshmukh, the first guest in the ‘Coffee With HT’ series, cautioned: “Traffic problems will not be resolved unless we complete the second link — from Worli to Nariman Point (which includes the controversial Pedder Road flyover) — too.” Elaborating on the traffic situation, the CM asserted: “Our pace is slow, but reforms have begun”. He also ruled out a congestion tax for car owners.

The Bandra-Worli sealink bypasses the 23 signals that you would normally encounter between Bandra and Worli. Chief Minister Vilasrao Deshmukh (left) has been assured that it will be functional from April 2008.

No congestion tax Ruling out measures like a congestion tax on car owners to tackle the traffic problem, Deshmukh said that “awareness was needed first”. He, however, pointed out that other means of mass transport — like the skybus — were being introduced.

Rising tide Deshmukh pointed out that there was a critical need to develop the city’s waterways as a means of transport. If that happens, he pointed out, the pressure on the roads would decrease significantly.

[Jai]

Awesome finds Sun! Boom times indeed!

Akruti Lakewoods looks great, and its waterfront location is an added bonus. Deepak Mehta is an awesome architect. Seems the guestimate of 45 stories was correct

Sarvodaya Heights looks a helluva lot better than it did -- more glass! There is no way in hell those towers are 38 and 27 stories each: I count two towers: one of 52 stories and another of 40 stories... that's up from the former height of 40-stories each! Their 'height' discounts the podium, stilts and the two-floor penthouses up top!