Catchment Area Analysis

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SYNOPSIS OF CATCHMENT AREA STUDY  TABLE OF CONTENTS: 

 

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Catchment Area PTA, STA, TTA………………………………………….…… 3

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Bhandup & the vicinity…………………………………………………….…….6 2.1

Upcoming Residential Projects………………………………………….… 7

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Commercial/Office/IT Projects…………………………………….…..….9

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Retail Presence………………………………………………………...…..11

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Property Demand………………………………………………………...….…13

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Infrastructural Growth……………………………………………………..…..15

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Summary of findings…………………………………………………………...17

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Integrating the findings to strategize Magnet mall…………………………..….17

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In a Nutshell.. …………………………………………………………....….....19

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Catchment Area:  

   Primary Catchment Area: (Within 5 kms. radius) 

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TR RADE AR REA ANAL LYSIS:

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Primary Catchment The Primary Catchment is within 0-15 minutes drive to Magnet Mall. The areas are: ¾ Bhandup ¾ Kanjurmarg ¾ Mulund ¾ Powai ¾ Vikhroli ¾ Ghatkopar Therefore the primary catchment of Neptune Magnet Mall is strategically situated amidst the densely populated Mulund, Ghatkopar and Powai areas Secondary Catchment The Secondary Catchment is within 15-30 minutes drive. The areas are: ¾ Thane ¾ Vidyavihar ¾ Kurla ¾ Chembur ¾ Intl. Airport Therefore the secondary catchment of Neptune Magnet Mall is the densely populated Thane, Vidyavihar and Chembur areas besides being close to the International airport. Tertiary Catchment The Tertiary Catchment is within 30-45 minutes of drive time. The areas are: ¾ Sion ¾ Santacruz Airport – Domestic ¾ Jogeshwari ¾ Goregaon Therefore the tertiary catchment of Neptune Magnet Mall is the thickly populated Sion Santacruz, Jogeshwari and Goregaon areas, and within 45 minutes of the domestic airport.

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BHANDUP: Bhandup is one of the strategically- located eastern suburbs of Mumbai. Like most of the suburban areas, it is also divided by the railway line into East and West. Bhandup is connected by the entire stretch of eastern suburbs through Central railway line as well the LBS Marg. The entire Stretch of LBS Marg including West of Ghatkopar, Vikhroli, Kanjurmarg, Bhandup and Mulund had developed as an industrial belt. However, owing to the real estate boom the industrial units were gradually taken over by commercial and residential developments. Today the biggest names in the real estate business have formed a bee line to grab a chunk of this opportunity

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UPCOMING RESIDENTIAL PROJECTS: Neptune Magnet mall has an immediate catchment of 2000 families residing in the adjoining Neptune Living point residential towers. As seen below,

Magnet Mall 

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Listed below are upcoming residential projects by some of the most reputed builders in the city, comprising around 20,000 flats from among thousands of more residential properties coming up in the Primary catchment.

Prestegious & upcoming projects in

Bhandup & Kanjurmarg No. of Flats Joy Creations Joy Homes 3000 Neptune Neptune Living point 2300 HDIL Dreamz residential 2300 Mantri Mantri Porperty 1000 Mahindra LifespaceMahindra splendour 800 RNA Builders Royal Park 630 Shristi Group Shristi Heights 176 Lodha Group Lodha Imperia 168 Kukreja Sai Ashish 140 Rachana Group Rachana Towers 137 Sanghvi Builders Dev Darshan 120 Shristi Group Keshav Sristi 100 Akruti Group Matushri Chhaya 100 Developer

TOTAL

Project Name

10,971

Prestegious & upcoming projects in

Prestegious & upcoming projects in

Prestegious & upcoming projects in

Vikhroli & Ghatkopar

Powai

Mulund

No. of flats Runwal Group The Orchard Residency1000 Wadhwa Group The Address 200 Kalpataru Group Kalpataru Aura 200 Rajesh Raj Legacy 70 Rajesh Raj Legacy III 70 K.N Pokar Const. Panchratna 74 Mayfair Housing Ltd.Mayfair Sonata 70 Mayfair Housing Ltd.Mayfair Symphony 60 K.N Pokar Const. Shiv Parvati 48 Dhanista Builders Sunshine Apartments 28 Developer

Project Name

1,820

No. of Developer Flats Shristi Group Synchronicity 1000 Nirmal Lifestyle Raheja Corp Maple Leaf 550 Nirmal Lifestyle Wadhwa Builders Solitaire 200 Nirmal Lifestyle Rajesh Builders Raj grandeur 200 Nirmal Lifestyle Nahar Group Jonquille & Jamaica 192 Neptune Group Gundecha Builders Gundecha Hills 150 Neptune Group Hiranandani BuildersTorinos 136 Nirmal Galaxy GHP Group Sun City Neptune 125 Marathon Group Hiranandani BuildersGlen Ridge 120 Gundecha Builders GHP Group Sun City Mars 120 Shristi Group Panch Shristi 120 GHP Group Woodland heights 112 Hiranandani BuildersRichmond tower 100 Skyline Group Villa 88 GHP Group Sun City Pluto 84 GHP Group Shimmering Heights 80 Hiranandani BuildersGlen Dale 60 Developer

Project

3,437

No. of flats City of Joy 1000 Nirmal Nagar 1000 Zircon Amethyst240 Blue Diamond 240 Colorscape 150 Harmony 120 Polaris 84 Marathon Onyx 40 Zenith 300 Project Name

3,174

(All figures are approximate.)

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COMMERCIAL /OFFICE/IT PROJECTS:

Upcoming commercial projects in the vicinity… Project Name

Location

Mayuresh Shristi Park

Bhandup

Shristi Square

Bhandup

Joy Majestic

Bhandup

Raj Embassy

Bhandup

Powai Plaza

Powai

Dheeraj Kawal

Vikhroli

Raj Splendor

Vikhroli

V Space

Ghatkopar

Dipti Solitaire

Ghatkopar

Sanghvi Square

Ghatkopar

Nirmal galaxy - Avior

Mulund

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Financial Institutions: There are about 39 banks & financial institutions within the Ghatkopar -Mulund belt including; • SBI • Punjab & Maharashtra Co-op Bank • Canara Bank • ICICI Bank • Federal Bank • Indian Overseas Bank • Dena Bank • HDFC Bank • HSBC Bank • IDBI Bank • New India Co-operative Bank • Axis Bank • Oriental Bank of Commerce • Kotak Mahindra Hospitals: • • • •

LH Hiranandani Hospital Wockhardt Hospital Apollo Hospital Godrej Memorial Hospital

Educational Institutions: The Primary catchment area comprises of over 55 educational institutions including the following; • Indian Institute of Technology Bombay (IIT) • K.J Somaiya College of Arts & Commerce. • Hiranandani Foundation School (ICSE) • Ramniranjan Jhunjhunwala college of Arts, Science & Commerce. • S.K Somaiya college of Science & Commerce • Vaze Kelkar College, Mulund

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RETAIL PRESENCE:

…and hundreds more. Restaurants/ Lounges/Banquets/Pubs etc. • • • • • • • • • • •

Barbeque Nation Rajdhani Fusion Dhaba Urban Tadka Thai Chi Marrakesh Mahesh Lunch Home Pop Tate’s Bond – The fun bar. Mantra The Bowl House

• • • • • • • • • •

Oriental Spice Fine Dining Bistro Grill Sheesha Spaghetti Kitchen Mainland China The Yellow Chilli Rude Lounge Saffron Spice Clove Bar

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Multiplex & Cinemas: The region is surrounded by a number of standalone single screen cinemas along with the following notable multiplexes. • Big Cinemas • PVR Multiplex • Cinemax • Fame cinemas • Movie Time (Coming soon to Magnet Mall)

Self sustaining townships that boast the availability of necessary amenities like hospitals, banks & financial institutions, educational institutions along with the ever increasing presence of corporate parks, IT parks, commercial projects and a plethora of malls, multiplexes, standalone retail megastores and shopping arcades are all signs of a robust and healthy destination.

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PR ROPERTY Y DEMAN ND: Thee demand for housin ng has incrreased andd people arre looking out for mo ore affordable homees. The sub burbs are developing d g rapidly an nd the Ghaatkopar-T Thane bellt has witnessed a draamatic chaange. Con nversion of o industriaal land to residential r use and im mproving connectivi c ity to western suburb bs and the island cityy is anotheer reason for fo its rapidd growth. paces are em merging out of land sales and are dedicaated to resiidential and commerrcial Larrge land sp neeeds. Appro oximately 3 million sqq.ft. of lan nd has surffaced from m land saless and is beeing devoteed to resiidential and retail pro operties in n Bhandup p alone. Theese are incclusive of tthe followiing deals; • A 30 acre properrty belongiing to APII industriess acquired by Wadhw wan develo opers. • GKW estate bouught by Neeptune entterprise. • Rhonee Poulenc ((RPI) pharrma unit att Bhandup p acquired by Ajay Piiramal group, being developed by thee real estatte arm Piraamal holdin ngs. • Gas major m BOC’’s plant sold to Kalp pataru deveelopers. URRENT PROPERT P TY RATES: CU Bhaandup Real  Esstate Rates Residential

Com mmercial

0 5,800‐8,500

6,50 00‐9,500

Currrent trendd of price iincrease is resolute in n Bhandup p:

(Souurce: ICIC CI Propertyy report 20010.) 13   

PRIICE ESCA ALATION N & DEMA AND: by the forcces of demand and suupply. Marrket sentim ment has im mproved in n Pricces are dettermined b receent times leading l to further price escalattions. Illusttrated belo ow, we seee that at the current rates r of Rs. 5,800-8,5000 for resiidential and d Rs. 6,5000-9,500 for commercial spacess, the rise in i propertyy pricces has beeen the high hest in thee Bhandup region off the easterrn suburbs. Indicatin ng that in the t facee of the ab bove mentiioned supp ply of large spaces of emand is ssteadily an nd rapidly ly on o land, dem

thee rise.

Mo ore and mo ore people are lookin ng at the eaastern suburbs as a preferred p llocation fo or residenccy. Ow wing to mo ore affordaable rates as a compareed to thosee in the Islland city an nd improvved connecctivity to the t rest of the city allong with good g amen nities and infrastruct i ture the po opulation density d in Muumbai’s Eaastern subuurbs is on the t rise. However, H th his growth h in populaation is unmatched by b the pro oportional growth in organized d retail. Wh hile the den nsity in population iss concentrrated in Muumbai’s islland city, tthe growth h rate is higghest in the t western n & eastern n suburbs as indicateed in the charts c belo ow.

% Growth in Population Density Easterrn  Suburbs % 45%

Western  bs Suburb 50%

Island C City 5%

However, as seen in n the diagraam below, organizedd retail actiivities havee been unaable to keeep pace in the easttern suburb bs in partiicular.

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% Distribu ution of Orgganised Rettail  Western  Suburbs 44% Ceentral  Suburbs 1 14%

Island Ciity 19% Thane &  Kalyan 14%

Navi Mum mbai 9%

This rendeers a great opportun nity waitingg to be exp ploited. Retail Markket Review w, 2009) (Source: Knight Frrank Reporrt: India R FRASTR RUCTURA AL GROW WTH: INF oject: Muumbai Metrro Rail Pro Being the financial capital c of India, I Mum mbai is thee heart of commercia c al and trad de activitiess of the countrry. Considering the fact f that th he existing suburban transportaation systeems is und der immense pressure p an nd with a view v to bo oost conneectivity bettween Mum mbai’s wesstern & eaastern suburbs, the t govern nment has introduced i d the Mum mbai metro o rail project. The go ood news is that the path of o this new w metro raiil project passes p thro ough the viicinity of tthe Magnet mall and its immediatee catchmen nt. Slated to be b launcheed in three phases, th he rail netw work will enhance e Bh handup’s connectivi c ity regions in the western suburbs like Band dra and Veersova. Th he success & completion of thiis t boost th he accessib bility of theese suburb bs and is likkely to draaw hoards of project is expected to he subsequuent thron ng of developers, retaailers and ccommerciaal parks. home seekkers and th

(Source:: MMRDA A website) mbai Metro project frrom Ghatkkopar to Versova V is eexpected to give a filllip to Phase I off the Mum the connectivity of tthe eastern n and westtern suburb bs as show wn below. 15   

METRO RAIL ROUTE:

Opportunity in the near future Located right in the path of the Magnet Mall, the Metro Rail project will not only work as a crowd-puller for the mall but will also create a surge in the residential demand within the Primary catchment area, further increasing the mall’s commercial prospects!

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NEPTUNE MAGNET MALL: SUMMARY OF FINDINGS On the basis of our study, its analysis and our in-house expertise, there is clearly a compelling need for entertainment, amusement and food & Retail options to cater to the needs of this fast and steadily growing catchment. Since Bhandup lacks organized retail activity the retail development on the subject site would act as a magnet, attracting people not only from Bhandup but also from the surrounding suburbs (Mulund, Kanjurmarg, Vikhroli, Powai & Ghatkopar) The ‘MAGNET’ mall is positioned with a catchment which will house over 20, 000 new and prestigious homes within the PTA is slated to be a destination for shopper-tainers from the suburbs. Being a unique, well planned & researched proposition, it is set to change the Mumbaikar’s perception of a mall experience.

Integrating the findings to strategize Magnet mall. Strategically located within a 10-15 minutes driving distance from Mulund, Ghatkopar & Powai, ‘Magnet’ is slated to be the ultimate destination to shop, meet, eat, greet & entertain!. At 10,00,000 sq.ft, it will be among the largest malls in the city that caters to every need & expectation of the middle and upper middle class segments.

USP’s: • • • • • • • • • • •

Biggest food offering at 70,000 sq.ft. India’s first multi Anchor Mall 45,000 sq.ft Food & Entertainment centre. Highest number of corner stores. Wide retail-friendly frontages. Integrated FC & FEC With 4 grand atriums, majority of the shops are atrium facing. 1000 ft. Mammoth frontage. Massive floor plate 2,35,000ft. Scientifically zoned mall. Customer-oriented circulation and layout.

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™

Desig gned to o inspiree awe… …

FEC 45,000  indoo or/Outdoo or

53 ftt. Main  enttrance

4 Gran nd  Atrium ms 4 Theemed  lobb bies

Tw wo Level m mezzaninee  food ccourt 7 Fin ne dining  options

Sky Lounge  45,255 sq.ft

™ Scien ntificallyy plann ned mixture of variouss catego ories bassed on consumer behaviorr pattern ns. Services/oth mas erss Entertaiinme Cinem 8% % 1% % nt 4% Food 20%

Shoppin ng 67%

Trrade Mix

™ Scien ntificallyy engin neered laayouts and a floo or planss that en ndeavorr to convvert foottfalls intto purch hase.

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IN A NUTSHELL: Bhandup is poised to be the next residential and commercial hub after Thane & Mulund, mainly due to its “central “location and excellent infrastructure. • Strategically located amidst excellent catchment of Ghatkopar to Mulund and Powai (10 mins), not to forget a few minutes’ drive from Bhandup, Kanjur Marg and Vikhroli. • Primary catchment population is in the region of 34 lacs and the income profile is mainly a SEC A & B combine estimated at 38 % as per secondary data. • The Target catchment has a good combination of businessmen and professionals with a high blend of nuclear families and youth. • Steadily growing demand for residential spaces. • Proximity to IT parks, Corporate and Commercial hubs like HCC 24x7, Akruti Corporate Park, Rajesh Commercial etc thereby changing the location dynamics. • Near to Residential projects like HDIL , Great Eastern Gardens , Marathon, Neptune, Mayuresh, Kukreja, Sai Radha, Nirmal Lifestyle , Lodha, Vikas Paradise, Ekta , Hiranandani Gardens, Raheja Vihar, Nahar Amrit Shakti etc. • Immense future potential due to proposed further conversion of Industrial parcels to Residential and commercial hubs. • Huge concentration of youth due to presence of 55 educational institutions in vicinity. • Expected boost in connectivity to the western suburbs on account of the upcoming metro rail project. • Prolific growth of concrete spaces and high rises, sturdy complexes with all amenities and self sustaining townships.

CREDITS, SOURCE & REFERENCES:

• • • • • • • • • •

Knight Frank - India Retail Market Review 2009 ICICI Property report 2010. Newspaper Articles – Times Property, Expressindia, DNA. CB Richard Ellis – Market View India Retail Mumbaiproperties.com Google Maps Jones Lang LaSalle Megraj Report - March 2009 for Neptune Group Knight Frank Report Real Estate Report 2009 Interface by Beyond Squarefeet™ Advisory Pvt. Ltd. India Retail Report 2009

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Report Compiled by: Beyond Squarefeet™ Advisory Pvt. Ltd. Neptune house, 3rd floor, Karma Stambh, L.B.S. Marg, Vikhroli (W), Mumbai - 400 083, INDIA T: 91.22.4215.5315 F: 91. 22.4215.5314 [email protected] www.beyondsquarefeet.com

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