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
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