Investment in Borivali East

Q: Should I invest in Kanakia aroha at this point. The current prelaunch offer is 12750 base price. Is it a good investment for next 3-5 yrs.
Also, Oberoi is going to come up with their project soon in this area, which would be a little expensive one.
Any ideas

Sagar, Mumbai

7th October 2014

Investment Advice in Kanakia Aroha, Borivali East, Mumbai

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Replies (8)

Thnks Kishore for your advice. Actually Oberoi looks to be out of budget right now.Should I go for Kanakia Aroha. How will you rate the project from long term duration. Can I get some profit from investing in Kanakia Aroha?

Sagar, Mumbai

19th February 2015

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@Kishore,
No both projects are different in terms of inventory and price wise. if budget is not an issue then definitely go for Oberoi Project as its going to be one of the landmark towers in Western suburbs. This project will surely change the face of Dahisar - Goregaon Belt.

Abhishke Karule, Mumbai

19th February 2015

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Hi everybody,
I agree Oberoi project looks better than Kanakia, but I am more of an investor than a end-user. I wanted to know how much appreciation I can get and which property would be better to invest in in terms of appreciation.

Kishore Pathak, Mumbai

19th February 2015

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Hi all,
Kanakia Aroha is a good project. Its an upcoming area and will give excellent return in 3-4 years. Borivali East is close to the Link Road connecting to highway. There is ample public transport available through buses and rickshaws. The area has many shopping areas, schools, colleges and restaurants. It is a beautiful green locality with low pollution. The capital values in this area rose by 22% in the January to March 2013 quarter and currently, prices range between Rs15200-18500/ sq-ft. The average rental value of Borivali East stands at around Rs 24/sq-ft per month.

Sankalp, Mumbai

10th November 2014

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But i heard that the traffic in this area is heavy and slow moving due to several traffic signals. Parking can be an issue as most roads are narrow and require a lot skill during rush hours.

Lalit Verma, Mumbai

7th October 2014

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@lalit,
Now a days it has become a major issues in every big cities such as Kolkata, Delhi, Mumbai, Chennai, Bangalore, Pune, Hyderabad etc. Only govt. is not responsible for that. We the residents of India are equally responsible as we dig the road during puja and festival or wedding occasion so it becomes water logging issue during rainy season.

Kanakia Aroha is a good project. Its an upcoming area and will give excellent return in 3-4 years.

Vineet Tendulkar, Mumbai

7th October 2014

Hi lalit,
Eastablished in 1986, Kanakia Group is a reputed name in the top 10 list of India's leading developers. Kanakia Spaces Pvt Ltd is a part of real estate developer of Kanakia Group. With more than 25+ years of experience in real estate business, Kanakia Spaces Developers have delivered more than 12 million sq. Ft. of industrial, education, entertainment, commercial, and residential spaces. It has been awarded with various reputed awards like 'International Property Award,' 'Crisil Credai Real Estate Award', and 'MCHI Property Award' for its different projects in Mumbai. With a strong presence in Mumbai, Kanakia Spaces aims to offers a high standard lifestyle through it project launches.

Some of it's ongoing projects in the Mumbai are Kanakia Sevens - Andheri East, Kanakia Platino - Malad East and Kanakia Rainforest - Andheri East.

Vineet Tendulkar, Mumbai

7th October 2014

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Thanks Vineet,
How is the locality of Borivali and the civic amenities? How far is it from Railway Station and Mumbai International Airport? Is there any good schools and colleges near the project site?

Lalit Verma, Mumbai

7th October 2014

@Lalit,
Borivali or Borivli is a residential area located in the northwest section of Mumbai. It is approx 18 km - 10-12 mins from Mumbai Airport and 34 km - 21 mins from Churchgate Railway Station. It is a relatively safe place with a Police Station, sufficient Street Lights, gated community with manned exits and a Fire Station. Cleanliness can be an issue as in certain places common areas like roads, streets etc. lack maintenance. It is close to NH-17. The roads inside the locality are however mostly narrow about 12 to 15 ft. width.

Private Schools in this area include St Xaviers and St Johns among others. It has several mid-level colleges like St Francis institute of Technology, MPV College of Commerce and Anandhibais.

Vineet Tendulkar, Mumbai

7th October 2014

Hey,
If you interested to invest in this project, it offers 2BHK in 2 different sizes 949-1088 sq-ft. and the current price is Rs. 12900/sq-ft. It will come in the range of Rs. Rs.1.22 Cr. to 1.40 Cr. all exclusive. It is a G+21 story apartment consists 210 units in 3 different towers A/B/C. Construction work has started.

Vineet Tendulkar, Mumbai

7th October 2014

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Hi Vineet,
Do you know anything about the developer? How is it's track record?

Lalit Verma, Mumbai

7th October 2014

HI Sagar,
Kanakia Aroha by Kanakia Space Pvt. Ltd. located at Rajender Nagar area of Borivali East and is very close to the Borivali Station and the Western Express Highway. The project has approach by the Dattapada Road and is a good location with all basic facilities nearby and good schools, hospitals etc. in the neighborhood.

Lalit Verma, Mumbai

7th October 2014

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