A Residential Project in Mumbai with a Social Cause

Mumbai based Omkar Realtors & Developers, one of India’s leading
brands in redevelopment, boutique and luxury housing has notched up 200 plus bookings (NRI’s) for its latest residential project Lawns & Beyond located in the prime micro market of Andheri East highway in
Mumbai. This low ticket sized 1200- apartments boutique inventory offering is the biggest realty launch across pan-India, Post-RERA, by a branded realty player.



The RERA compliant project, “Lawns & Beyond”, consists of 1/2/3 bhk units with the ticket size ranging from Rs 83 lakh to Rs 1.57crore onwards (355 sq.ft -710 sq.ft carpet area). The project located on the Western Express Highway (WEH) 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 spanning 5-acre area.The overall project spread across 65 acres is planned to shape into Omkar International District (OID), a
mixed development, evolving into a major landmark for Mumbai city.



According to Mr Rahul Maroo, Senior Vice President, Omkar Realtors: “The project has opened to an overwhelming response from the investors and end users community within India and key NRI markets. From our NRI inventory allocation of 250 + units, we have already crossed 200 bookings. GCC, Hong Kong and Singapore NRI investors have shown a renewed bullish sentiment in our Mumbai developments including our highly successful Signet residential project launched in May 2017”. 

 

Mr Maroo stated that NRI investors and customers today are primarily looking at four factors to invest in the Mumbai realty market; namely minimum initial investment, RERA compliance, high rental yield potential and a brand which has proven delivery track record. “Brand Omkar scores favourably on all these four counts”, he remarked.

Slum Rehabilitation 

The scheme under Maharashtra Slum Rehabilitation Authority (SRA) has been successfully incorporated in Lawns & Beyond. Omkar Realtors have been able to win consent of 95 per cent slum dwellers in incorporating their land in the project, in return for apartments, according to Mr Maroo, the company’s senior vice president.

The SRA requires 75 per cent consent to dwellers before developer is allowed to clear the slum for adding the land to its main development site.
Rated as one of the most successful slum clearing act, SRA covers Greater Mumbai, where slum dwellers have encroached on 8,000-9,000 acres of land, considered premium sites for residential developments in the housing-short city.

Once a slum clearance agreement is signed, the dwellers are offered alternate housing for two years and then rehoused in the newly built units with full sanitary facilities.


 

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 Lamp;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.

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