Omkar’s upcoming residential launch in Mumbai sees record EOIs from Delhi customers
Mumbai based Omkar Realtors & Developers; one of the country’s leading brands in redevelopment, boutique and luxury housing has obtained 50 plus EOIs (express of interest) from Delhi home buyers for its forthcoming 1200-plus apartments residential project slated for end-November 2017 launch. This low ticket sized boutique inventory offering is the biggest realty launch across pan-India, post-RERA, by a branded realty player with Delhi leading the customer interest for a outstation project.
The RERA compliant project, currently codenamed “Passcode Andheri Highway”, consists of 1/2/3 bhk units with the ticket size ranging from Rs. 87 lakh to Rs 1.6 crore onwards (355 sq.ft -710 sq.ft carpet area). The project located on the western express highway 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.
According to Rahul Maroo, Senior Vice President, Omkar Realtors : “The project with a fair share of inventory under sub-Rs. 1 crore bracket holds strong attraction for pan-India customers and investors looking at buying in country’s primary realty market. Not only does this ticket sizing compare well with Delhi and Gurugram markets; it holds attractive ROI proposition at the current pricing level.”
Maroo added that the buyers are eyeing inventory in areas with upcoming infrastructure developments such as Metro, Mono rail, new link roads connecting the East -West Corridors etc., and Andheri-Jogeshwari east highway corridor is one such key location in Mumbai.
The project strategically located on the Western Express Highway enjoying easy access to domestic and international airports comes with flexible payment plans and minimal down payment options.
The key target customer groups in this micro market spans SME’s, trading community, corporate professionals, media & entertainment industry. The location is one of the most sought after by Mumbai’s film and television fraternity including artistes and production houses.
Omkar has a 4,000-strong customer base including pan India locations and global NRI communities. The customer and investors traction has been on the increase from Delhi markets particularly from the business and corporate communities. Currently the brand enjoys a 100 plus customer base from Delhi market for its boutique and luxury inventory.
While Mumbai’s corporate sector has been drawing mid-level and senior level talent from country’s capital; Delhi’s HNI investors base, corporate professionals and trading communities has historically found a connect with Mumbai’s trade and finance markets. These factions have been key investors across all ticket sized realty projects in Mumbai.
For Omkar, the investment sentiment from the Delhi region and those of its communities present in Mumbai has significantly dominated brands overall product portfolio accounting for an overall volume of Rs 500 crore plus inventory in the last 5 years. The rapidly growing investment sentiment for this market includes a healthy mix of end users and investors.
According to Maroo, the marked investment interest level from Delhi region is indicative of high trust quotient and transparency factor prevalent amongst customers for leading branded players in Mumbai’s residential market. “Omkar’s reachout focus directly and indirectly with this region has grown steadily over the years and we are committed to engaging customers emerging from this region in terms of empowering them with in-depth product experience, advance product awareness, flexible payment solutions and dedicated CRM”, he added.