Tag Archives: Bandra Kurla Complex

Sunteck Realty & India Sotheby’s International Realty tie up for BKC project

Posted on by Track2Realty

News Point: India Sotheby’s International Realty has tied up with Sunteck Realty to exclusively market its ultra-prestigious residential complex in Bandra-Kurla Complex (BKC). 

Signature Island Mumbai, Signia Isles, Sunteck Realty, Kamal Khetan, Sotheby's International India, BKC luxury property, Bandra Kurla Complex luxury property, Investment in Mumbai luxury property, Mumbai luxury property, India real estate news, Indian realty news, Real estate news India, Indian property market news, Track2RealtyThe projects - Signature Island, Signia Isles and Signia Pearl are home to some of the biggest names in Bollywood and C-level executives of leading banks, corporates and global conglomerates.

These projects surround themselves with the most enviable neighborhood. Mumbai’s finest hotels, recreation concepts, wellness centre, schools & upcoming premium shopping spaces encircle it.

With hotels like Trident and Sofitel gracing the front, the Signature Island is surrounded by American Consulate on one side and top schools like American School of Bombay & Dhirubhai Ambani International School, making it the most preferred address in Mumbai today.

This exclusive marketing tie-up with Sotheby’s International Realty will give Sunteck global access to market the projects across 72 countries on all its platforms. 

Signature Island is Sunteck’s flagship project located in the Central Business District (BKC) of Mumbai. Designed by the renowned architects at Talati Panthaky Associates ensures efficiency, great design and a well-planned layout.

Signature Island comprises of 64 bespoke duplex apartments with a private deck dedicated to each apartment. This is the only residential building in India with 2 open to sky atriums & 11 high-speed elevators along with a double height grand entrance lobby.

Every apartment has a column less structure, which gives its customers an option of developing a living space of their own choice. The building is ‘ready for fit-outs’ and salutes the concept of Definitive Living.

The project houses luxurious amenities like virtual golf, squash court, temperature-controlled swimming pool, gymnasium, kids play area along with large landscaped gardens. The features of spaciousness along with exclusivity, privacy, location advantages and facilities provided makes the trio one of a kind projects in Mumbai.

Signia Isles provides lavish 4 & 5 bed residences and Signia Pearl provides Venetian styled homes. These projects have been winning awards every year for luxury and excellence, clearly endorsing its acclaimed position.

Speaking of the tie-up, Amit Goyal, CEO, India Sotheby’s International Realty, said, “We are thrilled to get on board a prestigious project such as the Sunteck’s BKC residences. Situated in the heart of the business district with close proximity to the airports, this is by far the most sought after residential development in Mumbai today.”

Managing Director of Sunteck Realty, Kamal Khetan said,“Connectivity, Convenience and ultra-luxurious lifestyle makes these projects a high profile address for some of the most prominent names in the Indian industry.”  He adds: “We are delighted to be working with India Sotheby’s International Realty. This will open more avenues and such outstanding qualities will have a unique appeal to a global market of buyers.”

BKC & Noida contrary case studies of urban development

Posted on by Track2Realty
Track2Realty Exclusive

Bottom Line: Prima facie, there is nothing identical between Noida of Delhi-NCR and Bandra-Kurla Complex (BKC) of Mumbai to be referred on the same page. However, a closer look suggests the two given markets have the same DNA with different tale to tell.

Noida property market, Noida real estate, BKC property, Bandra Kurla Complex, Mumbai real estate, Delhi-NCR property, Track2RealtyThe reason why these two markets have evolved as two contrary case studies of urban development is the policies by the respective urban bodies – Noida Authority and the Mumbai Metropolitan Region Development Authority (MMRDA).

It is the roll out of the policies by the respective urban bodies that have been behind the BKC emerging as a case study of urbanisation with booming economy while Noida ending up as a ghost city sitting over piles of unsold housing stock. Both the markets nevertheless had the tremendous potential in its early stage of inception.

In terms of the infrastructure, potential of the region and overall location advantage, both these places have more or less the same advantages. These are brilliant locations – geographically well-located and driving distance to all the major hubs.  As a matter of fact, purely from the standpoint of physical infrastructure Noida is even better positioned than BKC, yet it stands nowhere near the later in terms of growth potential and the overall attraction index.

Analysts point out that availability of land at such strategic locations is always a bog traction point. But what comes in the way of sustainable development is often the greed. When the urban bodies are not that sound in terms of sustainable planning and also lack the research, they prove to be urban disaster. Noida is a classic case study of performance not matching the potential. The BKC, on the other hand, has outperformed its potential due to supply always in sync with the demand.

Naushad Panjwani, Managing Partner of Mandarus Partners points out that research cannot be undermined but even with research that suggests the potential of the region there are several underlying factors to be evaluated. Not just market, even within a project if you have two and a half room then you have to find what would be that half room – whether puja room, study room, kids room – because based on that only the architect will design the location of that room.

“Look at the BKC where the land is there with the MMRDA but they are releasing in phases because they first want to make sure that absorption is there for the current lot and then only they want to auction more land. In Noida there was need to do something like that; to release the land in phases. But greed has played its role in exceeding supply more than the demand,” says Panjawani.

Nikhil Hawelia, Managing Director of Hawelia Group agrees that over-supply has indeed killed otherwise promising location like Noida. According to him, the assumed demand in Noida without being backed up with any scientific research that could lead to right sizing the project offerings resulted into creating a housing inventory that may take years to get absorbed.

“You have to understand that the homebuyers were coming to Noida because they could not afford in any other market like Delhi or neighbouring Gurgaon. So, it was not just the price in terms of per sq feet cost but also the overall ticket size that should have been kept in mind. I must admit here that with the availability of cheaper land parcels the developers got a bit carried away for creating bigger apartments,” says Hawelia.

Requesting anonymity, even the officials of Noida Authority admit that they did not have any research to define the demand or understand the sustainability of the market. So, while there has been a right mix of residential projects and commercial spaces in BKC, Noida could only develop residential apartments with no economic activity in the vicinity.

Therefore, Noida could neither attract affordable buyers due to supply of bigger units, nor could the city attract the well-to-do homebuyers who preferred to stay close to their workplaces in Delhi or Gurgaon. The BKC, on the other hand, evolved as a case study of urbanization with sound economic activity due to the right mix of residential and commercial spaces in the neighbourhood.

By: Ravi Sinha