How Powai Maintains Status as a Premium Location

There’s an article on the front page on the Property Plus section of the Times of India today that takes a look at how Powai has managed to maintain its image as a location that provides premium homes, and the reasons for Powai’s success. What are they?

Preferred Choice for Expatriates

According to realtor Ramprasad Padhi, “In recent years, developers have started talking about homes with global standards. These homes attract NRI investors and now, they are also attracting expatriates. This trend has gathered momentum after the 26/11 attacks in south Mumbai.”

“Hirandanandi Gardens was initially the preferred destination but now projects in nearby Chandivali and Aarey have also attracted expatriate residents. Hiranandani Gardens is arguably the most sought after location by expatriates, firstly because it is a township with all lifestyle related facilities that an expatriate would be looking for. Moreover, it has also upgraded constantly and evolved into an even better destination.

Niranjan Hiranandani MD, Hiranandani Constructions Pvt Ltd explains that high end buyers look for homes that are special, better than other homes, and also within reach of their budget. “Our project, Hiranandani Gardens at Powai, offered home seekers an alternative to similar homes in south Mumbai, or other homes that did not meet the buyer’s aspirations. Premium home seekers opt for homes in our projects because it is an integrated township with some of the best amenities and facilities, which are possible because of the sheer numbers. However, even now, we have to constantly re-invent the product to attract the next generation of buyers”.

Greenery and Water Bodies

“For a home seeker, the soothing effects of gardens and water bodies visible from the home is an added attraction, says Sukhraj Nahar, chairman of the Nahar Group. Taking the example of his project, Nahar Amrit Shakti, he says that by developing an area in an eco-friendly manner, it increases its attractiveness amongst potential buyers. “In the second phase of Nahar Amrit Shakti, we have planned a multi-level podium that will cover the entire phase. Not a single park slot will be visible from any window or balcony. The project will have water bodies and fountains amidst green spaces that will ensure that every home in the second phase will only have soothing views”, he says.

Near Hiranandani Gardens, another unique project is Lake Homes — a residential complex that has an in-house water body, says Vinod Thakker, CEO of Square Feet. Thakkur feels that it is the landscaping that forms the USP of a project. “The artificial lake that has been created has evolved so well that no one can say it was artificially created. The landscaped gardens and water terrain have merged into the project’s layout. The homes are well ventilated and well lit, and the view from the balconies is that of soothing landscape and water bodies. This has been the major attraction for those who have made the project their home”, he says.

Evolution of Adjacent Areas

In some instances, development has gone beyond just creating buildings with ornamental green cover. Nayan Shah, MD of Mayfair, says “From LBS Marg, at the junction with Godrej, right up to Hiranandani Gardens, we have created the road and the gardens thereby creating a new residential address that is serene, green, and clean. “For a home seeker, upper Powai is the perfect destination, with its exotic gardens with rare tropical plants and beautiful sculptures”.

Form Follows Function

Near the Powai flyover, developer Vijay Wadhwa is creating a “green” project called Solitaire. “Every apartment will have an unrestricted view of Powai Lake and its surrounding greenery. Moreover, the project also has a landscaped podium”, explains Wadhwa. “The view from the windows is a big draw. In effect, such projects attempt to bring nature closer to the homes. For this, the project’s planning should follow the principle of ‘form follows function’ and should be very practical, with emphasis on cross ventilation, user friendliness etc. Wastage space needs to be avoided and with a little thought process, it can be ensure that the floor heights are adequate and window sizes aren’t compromised….”

“Powai and its peripheral areas have been fortunate, in the sense that individual developers have created the sort of verdant greenery that makes a great view from the balcony or window. This is part of its constant reinvention and upgradation. Powai can serve as an ideal example for other residential destinations in Mumbai, Thane, Navi Mumbai, to emulate”, he concludes.