The project will include four 44-storey towers and a signature 60-storey tower, alongside a dedicated retail component, covering an estimated 12 lakh sq. ft. of RERA carpet area. Residences will include 2, 3, and 4 BHK apartments, ranging from 800 to 1,600 sq. ft., designed to meet the evolving needs of premium homebuyers.

Speaking on the development, Mr. Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, said:

“This strategic acquisition from MHADA represents a milestone in our expansion strategy. Goregaon West has emerged as one of Mumbai’s most promising residential destinations, and securing this prime 4.05-acre parcel positions us to deliver a world-class development that will set new standards for premium living in the western suburbs.”

Strategic Location and Market Relevance

Located in Siddharth Nagar, the project enjoys excellent connectivity to Mumbai’s key commercial zones, entertainment hubs, and infrastructure networks including the Western Express Highway, Link Road, and metro lines. The area is witnessing rapid appreciation in property values, driven by infrastructure upgrades and increasing demand from both end-users and investors.

This development reinforces Ashwin Sheth Group’s growing footprint in Mumbai and highlights its focus on the premium residential segment. With luxury housing in high demand across the city’s western corridor, this project is poised to become a landmark in Goregaon West.

Also Read: Ashwin Sheth Group Files FIR Against Reputed Developer Alleging ₹700 Crore Fraud

The post Ashwin Sheth Group Acquires MHADA Land in Goregaon West for ₹3,800 Cr Premium Residential Project appeared first on Square Feat India.

According to the complaint, the funds were invested with the understanding that the accused parties would formalize an agreement and initiate the development of a prime plot of land in Andheri, Mumbai. However, the funds were misappropriated, and the promised development never materialized.

A statement from Ashwin Sheth Group read: “This case highlights the breach of trust and unethical practices carried out by the accused parties. The ₹51 crore investment, made in good faith in 2008, was expected to lead to a transparent and fruitful partnership. Instead, it turned out to be nothing but false promises, with the funds being misappropriated.”

The Ashwin Sheth Group emphasized its commitment to pursuing justice and recovering its dues, which have now accumulated to over ₹700 crore, factoring in interest and other losses. The EOW will conduct a thorough investigation into the financial trail and the actions of the accused.

Legal experts suggest that this case could set an important precedent in addressing large-scale financial fraud in Mumbai’s real estate sector, urging stakeholders to adopt stricter due diligence and transparency in business transactions. The development has sent shockwaves through the city’s real estate community, underlining the need for ethical business practices in an industry that has seen rapid growth in recent years.

The Ashwin Sheth Group has called for swift action from the authorities, hoping that this case will not only bring justice but also deter fraudulent activities within the real estate market. As of now, the accused parties have not issued a public response to the allegations.

Also Read: Japanese Furniture Giant Nitori to Debut in India with First Store at R City Mall, Mumbai in Dec 2024

The post Ashwin Sheth Group Files FIR Against Reputed Developer Alleging ₹700 Crore Fraud appeared first on Square Feat India.

The four apartments will be located in ASG projects: Sheth Avalon in Thane, Montana in Mulund, Sheth Zuri in Thane, and Edmont Aurelia in Kandivali. Key distribution will occur at the following locations:

• Thakur Village Bengali Association (Kandivali) during Durga Puja
• Powai Bengali Welfare Association at Times Powai Sarvajanik Durgotsav
• Krishti Durgotsav at Whispering Palms Lokhandwala, Kandivali
• Bandhan Durga Puja in Mira Road
• During Navratri at Whispering Palms
• Growel’s Mall, Kandivali
• Viviana Mall, Thane

Winners will receive:

• 4 Free 2BHK Apartments
• 4 MG Windsor EVs
• 12 Bose Home Theatre Systems
• Return tickets to Amsterdam for 22 couples
• 60 iPhone 16 Units

The campaign aims to connect with the community during the festive season.

Also Read: Festive push to residential real estate momentum of 2023

The post Developer Offers 4 Flats in Festive Lucky Draw appeared first on Square Feat India.

In the bustling city of Mumbai, a wave of infrastructural development is set to redefine the real estate landscape. This surge in advancement is reshaping property dynamics and offering lucrative opportunities for investors, homebuyers, and businesses alike.

The Infrastructure Renaissance

Mumbai is experiencing an infrastructure renaissance, with projects such as the Mumbai Trans-Harbour Link (Atal Setu), coastal road projects, the Worli-Eastern Freeway Connector, the Eastern Freeway extension, airport developments, and metro rail expansions injecting new vitality into the city. These initiatives are enhancing connectivity and accessibility, expanding geographical reach, and spurring economic growth, leading to significant property value appreciation.

Connectivity and Accessibility: The New Gold Standard

Infrastructure development acts as a catalyst for urban rejuvenation, resulting in higher investor confidence and a surge in demand for well-connected areas. Proximity to metro stations or seamless access to coastal roads has become a premium feature for developers and homebuyers. According to a recent Knight Frank India analysis, of the total properties registered in January 2024, Central and Western suburbs constituted over 75%, highlighting these locations as hotbeds for new launches offering modern amenities and excellent connectivity.

Metro Rail Expansion: Transforming Undervalued Areas

The expansion of the Mumbai Metro network is a game-changer, particularly for underrated areas like Thane, Bhandup, Dombivali, and Kalyan-Shil Road. With reduced travel times and decongestion, these areas are experiencing increased demand for residential and commercial properties. The convenience of metro connectivity is driving up property values, making them attractive investment destinations.

Coastal Road Projects: Unlocking Prime Waterfront Development

The Coastal Road projects, especially the Versova-Malad link, are set to improve access to the southern parts of the city and open opportunities for new beachfront developments. High-end residential complexes along these routes are expected to command premium prices, attracting affluent buyers seeking luxury and leisure.

Mumbai Trans-Harbour Link: Bridging New Horizons

The Mumbai Trans-Harbour Link, spanning 21.8 kilometres, is revolutionizing connectivity between Mumbai and Navi Mumbai. By drastically reducing travel time between Sewri and Chirle to under 20 minutes, this project is unlocking new investment opportunities in areas like Alibaug, Ulve, and Kharghar. These neighbourhoods are positioned to emerge as prime real estate destinations, offering affordable housing and substantial investment potential.

Airport Developments: Boosting Real Estate Markets

The existing Chhatrapati Shivaji Maharaj International Airport, coupled with the planned Navi Mumbai International Airport (NMIA), is attracting significant investment in sectors such as hospitality, logistics, and aviation. Proximity to these airports is becoming a key factor driving property values, particularly in Navi Mumbai, which is witnessing a surge in infrastructure development and real estate activity.

The Commercial and Retail Boom

Improved infrastructure benefits residential sectors and significantly boosts commercial and retail spaces. Enhanced connectivity to business hubs and shopping districts encourages foot traffic and boosts its commercial viability. As Mumbai’s infrastructure continues to evolve, a significant uptick in demand for commercial properties in key areas is anticipated, further invigorating the real estate market.

The Residential Market: A Tale of Transformation

For the residential market, infrastructure development translates into increased demand for homes in well-connected areas. As Mumbai expands its metro networks and road projects, the appeal of living near these infrastructure nodes grows. Areas around metro stations are witnessing a surge in demand due to the unparalleled convenience they offer. Similarly, coastal road projects are making seaside residences more accessible and desirable.

Thane: A Case Study in Strategic Investment

Thane exemplifies how strategic infrastructure investment can transform a locality. With the Maharashtra government allocating a substantial Rs. 50,000 crore for infrastructure development in the region, Thane is poised to become a prime destination for residential investment. Projects like the Thane Bypass Road, Metro Lines, and the Borivali-Thane Underground Tunnel are set to drastically reduce travel times and improve the quality of life, making Thane an attractive choice for homebuyers and investors. Similarly, Wagle Estate, located near Thane, is on the brink of greater accessibility and economic growth. As the industrial heart of Thane city, Wagle Estate benefits from its proximity to major commercial centres. This strategic location, combined with excellent connectivity and abundant amenities, bolsters employment opportunities and reinforces the area’s reputation as a vibrant industrial hub.

Mumbai Metropolitan Region: A Growing Powerhouse

According to the Knight Frank report, the Mumbai Metropolitan Region (MMR) is poised for substantial growth. The report indicates that 80% of the region’s 118 million square feet of office space is in Mumbai. With the city’s population growth rate at 3.9% and the rest of the MMR at 40.3%, the long commute to work becomes inevitable for a large section of the workforce, shaping the real estate market.

The price gradient of residential properties in the region varies significantly, from Rs. 3,000 to Rs. 100,000 per square foot. This variation arises due to multiple factors, such as commuting time to employment hubs, access to education, healthcare, entertainment avenues, and the location profile.

The Role of Suburban Rail Networks

The suburban rail network has long been the backbone of commuting in the MMR, with over 2,813 train services operating daily across the Central, Western, and Harbour corridors. Ferrying more than eight million passengers daily, this network highlights the importance of staying close to office markets. Regions with good connectivity, like those along the suburban rail routes, have witnessed flourishing property development, driven by the demand for reduced travel times.

Conclusion: Embracing a New Era of Progress

As Mumbai undergoes a monumental transformation, the benefits of these infrastructure projects extend far beyond improved connectivity. They signify a new era of economic growth, enhanced quality of life, and a city that is more integrated and accessible than ever before. Envisioning the boundless possibilities that lie ahead, the journey of progress and prosperity is set to redefine Mumbai’s future. In this dynamic landscape, the commitment of leading luxury real estate developers is to harness these opportunities and deliver exceptional living experiences. By strategically aligning projects with these infrastructure developments, significant value is created for customers, contributing to the city’s growth story.

In summary, Mumbai’s infrastructure development is not just about new roads and bridges; it’s about creating a legacy of modern living that future generations will look back on with pride. This is not just an upgrade; it’s an urban metamorphosis that promises to make Mumbai more liveable, lovable, and remarkable.

Bhavik Bhandari, is the Chief Sales and Marketing Officer (CSMO), Ashwin Sheth Group

Also Read: Infrastructure projects set to power Real Estate growth in Navi Mumbai & Panvel region

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