Updated on Nov 19, 2018 17:42:40

 

 

Omkar Realtors’ to launch biggest residential project in post-RERA era in Mumbai’s prime micro market

Upswing in SMEs and trading community from Indore investing in Mumbai market

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Web Admin

5 Dariya News

Indore , 18 Nov 2017

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 to company spokesperson Animesh Das, Head Channel Partners, Omkar Realtors : “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 key MP markets; especially Indore, it holds attractive ROI proposition at the current pricing level.” Mr. Das 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.The project strategically 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 MP 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 Central region markets particularly Indore, Bhopal in country’s premier market with trading communities accounting for a  major chunk of investments.While Mumbai’s corporate sector has been drawing mid-level and senior level talent from the key Pan india markets,  the city’s trading vertical spanning commodities, oil extraction, metals, imitation jewellery, bullions has historically found a connect with Indore  business community. These factions have been key investors in both low ticket and mid-ticket sized realty projects in Mumbai.For Omkar, the  investment sentiment from the Central region has seen a marked interest recently accounting for a Rs 30-crore plus realty portfolio during the  current year itself. According to Mr. Das, the marked interest level from Central region, especially Indore  indicative of high trust quotient and  transparency factor prevalent amongst customers for leading branded players in Mumbai’s residential market. 

About Omkar Realtors & Developers Pvt Ltd:

Mumbai-based Omkar Realtors & Developers Private Limited (ORDPL), commenced its operations in 2003. The company is promoted by second  generation entrepreneurs backed by five decades of business heritage and strong financials. The company’s expertise is showcased through an  array of residential and commercial projects with an estimated land-bank inventory of over 40 million sq. ft, spread across most premium locations  in Mumbai.Over the last couple of years, the brand has been consistently amongst the top 3 selling realty brands in India’s premier realty market  with its market leadership in Redevelopment, Luxury and Boutique offerings in the residential and commercial space.Today, Brand Omkar has  successfully designed projects aimed at luxury gated communities. This includes its most anticipated ultra-luxury residential development Omkar  1973 Worli and the largest and tallest luxury gated community in Mumbai’s suburbs, Omkar Alta Monte. Other key projects include Omkar Meridia  and VIVE (Near BKC), Vayu (Mahim), Veda (Parel) and Ananta (Goregaon East), Crescent Bay (Parel) - JV with L&T Realty, Dhobighat (Mahalaxmi)  Majaswadi (Jogeshwari East) and Signet by Omkar (Malad East).It has already delivered 15 projects in Mumbai and is currently developing another  6 projects with major emphasis on boutique luxury & lifestyle housing space. 

The company plans to complete development of 20 million sq. ft., area by 2018 in Mumbai with an additional pipeline of 40 million sq. ft. to follow.  Omkar enjoys the market leadership in Mumbai’s re-development space having rehabilitated more than 60,000 slum dwellers in Mumbai’s under  the Maharashtra government’s Slum Rehabilitation Authority (SRA) housing scheme. The company plans to house another 12,000 slum families  across company’s newer sites in next 2-3 years which are in different stages of development. In mid-2017, the brand achieved a record sales of 580  units within a 15-day timeline, for its boutique luxury residential project “Signet” at Malad East, adjoining the Western Express Highway.The  company has collaborated with globally leading design firms including Foster + Partners (architecture/UK), Buro Happold (structural  engineering/UK), HBA (Interiors/UK), LDA(Landscape/UK), DHA (lighting/UK), ESPA (Spa/UK), Barkley (Pet services/USA), Deeproots Landscape  (Singapore), KPM Engineering (Services & Structural engineering/UAE), GOCO Hospitality(Thailand), L&T (Construction/India) amongst  others.Omkar’s 1000 plus-strong professional work force is headed by Mr. Kamal Gupta (Chairman) and Mr. Babulal Varma (Managing Director)  along with six directors on the board. 

 

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