Casa Rio: Lodha Group Project

Category: Upmarket residential   

Potential Upside: Medium    

Upside time frame: 3-5 years

Project Size: Very Large

Expected Completion time frame:2013

Introduction: Casa Rio is a project by Lodha group. Lodha is actually developing 3 independent projects here on either sides of the Kalyan Shil road. These projects are:

• Casa Rio
• Casa Bella
• Casa BellaGold

Casa Rio project is a fairly large project with more than 7500 flats at the end stage. Rio project is different from Bella and BellaGold. Bella and BellaGold are costlier projects because of 50,000 Sq Ft club house and Golf course respectively. Casa Rio's USP is landscape.


Location: It is approximately 9 Km from Mhape Tech park, 6 km from Dombivali and 9 Km from Kalyan. It is located on Kalyan Shil Road near Nilaje station. Casa Bella and CasaGold are on the other side of the road where the Sales Office is located. It took me around 25 minutes to reach here from Mhape.


Project Details: Casa Rio is a large residential project on more than 130 Acres of land with projected landscaped gardens, shopping centre, school, KDMC bus service and internal feeder service. The flats are offered in 1 BHK, 2 BHK optima, 2 BHK ultima and 3 BHK Aura flavor. Strangely 2 BHK optima is actually 1.5 BHK. The flat sizes are just about OK with loading of around 25%. only 3 BHK flats are in towers (18-Storeyed). Other flats will be in 8-storeyed buildings. 

Other details:


a) There are going to be multiple club houses in the project with each cluster of apartments also having its own club house.
b) Expected date of completion is 2013 but the entire project with all amenities should be complete by 2015.
c) Registration of the flats will happen in July 2011.
d) You have to make an upfront payment of around 20% in the first 42 days (from the date of booking) and then the next payment will happen in July 2011




Reasons for growth: It is a Lodha project and the name is a brand associated with reliability. Lodha projects always command a premium. Even the current rate of 3213/- (it has gone up by almost 45% in last six months) is slightly higher in that but Lodha group will always command this premium.


It is a very large project with all the looks of a self-independent residential locality. A project of this size always starts a trend and I feel that this will be no different. The level of interest in this project will prompt many new developes to come up with new projects. This will further push up the prices and will also prompt authorities to provide better infrastructure. My guess is that, by 2015, when this project is going to be completely ready (with all Amenities etc), this area will become a good residential area.


Another highlight is its closeness to greenery and waterbody. I love such projects. Closeness to Mhape IT park is a definite advantage, as people working there will find it very convenient. This project is also close to Nilaje railway station, which is connected to Panvel and Kalamboli railway track.



Risks and Downside:


a) The road from Mhape (most part) is not very good though the last few kilometers on the Kalyan Shil road is good.
b) The travel time from Mhape right now is 25 minutes (by car) but there is every possibility that in the next 3-5 years, the traffic will increase manifold. Though the roads are expected to be relaid.
c) The rates are on the higher side and the property market is heating up and there could be a correction in the next 6-12 months. But if you are going to stay here it does not matter.
d) In case of c) being true, the project might get delayed

Cheers

Past Winner: Bhakti Park Project at Thane

Category: Budget    

Potential Upside: High     

Upside time frame: 3-5 years

Project Size: Small

Expected Completion time frame:2 years

Introduction: I came to know about this project in 2006. Phase-I of this project was already completed and possessions were given. Phase-II of the project had just started.

Location: It is located very close to Anand Nagar bus depot on Ghodbunder Road (Pokhran Road-II).

Project Details (Then): The project was commissioned by a decent builder though not a very famous one. The project was a budget project with very few Amenities. The Pokhran Road-II was in complete mess and it used to take an hour or even more to reach this place from the Eastern express highway. The project had one garden area as the only Amenities and next to it was a barren piece of land. The back side of the project was forest land and hills.

Price: The prevailing rates in that area in 2006 were ranging from 1300-2000 per sq ft. My family friend bought a flat here at 1400/- per sq ft.

Reasons for growth: Mumbai real estate prices were escalating like anything and it was becoming difficult for a middle class family to buy home anywhere in Mumbai suburbs. Thane, specially this location, offered many distinct advantages:

a) Ghodbunder Road in Thane offers many facilities for families like schools, colleges, hospitals etc.

b) This property was very close to a bus stand.

c) Ghodbunder Road was getting relaid much wider.

d) This property was close to both Eastern Express highway but was not too far off to Dahisar as well.

e) There was greenery, water body and hills (close to nature) all around

f) Lot of new projects were coming up indicating that the area will become great to live.

g) Ring rail was supposed to be commissioned in the next 5 years

h) All this was indicative of great upside potential.

Risks: The Pokhran Road-II progress was slow and could have taken longer than expected time. Though not anticipated then , the forest angle came up. Though this project was not on forest land.

Current Status: Ghodbunder Road has become one of the most sought after destinations. A lot of prestigious project have come in the last 4 years with new schools, malls, hospitals and office spaces.

Current price: The current prevailing rate in that area is 4000-6600 per sq ft. The current rate in this project is around 4000/- per sq ft.

Cheers

Must Read

My passion is to explore real estate projects whenever I have some free time. Over the years, I came across certain gems which proved to be real good investment/buy options. My close friends and families got benefited from this and that has motivated me to start this blog. The idea is to share the real estate projects, which I feel can be worth exploring. This is not a professional property review blog, hence I would not necessarily be reviewing all new projects. I will review only those projects, which excite me.

Disclaimer: These are my personal views and not at all influenced. If you like any of the projects mentioned in this blog, do not take decisions just based on my reviews. You are advised to find all details before taking any decisions as this is your money and you should spend it carefully. Though if you like my reviews, do drop me a line.