#XRBIA Chembur Central – Making Lavish Living Affordable

wealthymattersMumbai is a city where real estate is so expensive that a lot of people, even those who are far from poor, make do with tiny homes in old dilapidated buildings and others resign themselves to living in far off suburbs in the MMR where homes are cheaper and then suffering the inevitable long commutes into the city.

Now the problem of living so long in an environment where we train ourselves to expect less by way of lifestyle, as an inevitable compromise to get on with the business of making money in Mumbai, is that we often forget to open our minds enough to ask if this much of compromise with the quality of life of ourselves and our children is really inevitable. For those of us living a cramped life in really old houses, are there no other locations where the houses are newer and the social infrastructure comparable to those in older neighbourhoods of the city ?And for those of us commuting for hours everyday, are  there no better located homes, such that long commutes are cut short and we literally find time to actually live life in the Maximum City?

Now when I read something like this:

“Developers should focus on developing homes between Rs 30-50 lac bracket to cater the needs and requirements of the end-users.”

“Skilfully-designed spaces, generous communal infrastructure, enabling residents to enjoy green space on their doorstep along with the city centre easily accessible from a range of new transport links that are built for the next generation of homeowners to enjoy, and have been priced to suit their pocket is the current need and may make Indian housing shortage go extremely low to nil. Providing a well-panned and well budget home with sustainable infrastructures, will bring the prospect of homeownership back into the grasp of millennials.”

I get interested to see just what the author is doing. So when I heard of #XRBIA Chembur Central , I simply had to go visit and get to know more…….

My first impression was 100% approval of the location. I love just how this property is accessed through Shantipath in Garodia Nagar while coming from Ghatkopar Station. Its a lovely tree lined avenue, with a couple of beautiful Jain mandirs and houses that speak of quiet prosperity. A short lane branches off Shantipath onto the Eastern Express Highway. Look across the road, and its Xrbia – Chembur Central. Even the subway to cross the highway ,is simply a few steps away and opens onto the property, almost. Bus stops and share auto stops are also equally well placed w.r.t this property. So zero time and energy waste on a daily basis for people living here.

Ghatkopar is a major station on the Central Line and provides easy connectivity to Fort and Thane. The metro connects Ghatkopar Station with Andheri Station and hence to all areas serviced by the Western Rail and the Harbour line can be accessed from the nearby Kurla or Chembur Station.

And if you are a person who simply can’t abide by using public transport, both the Eastern Express Highway and the Eastern Freeway are readily accessible from this site. And better yet you’ll be delighted to know that the first U turn is close to the entrance to this property.

So for all the people who consider commuting in the city their No.1 cause of misery in life, this is an excellent location to try and move into.

Now coming to the flats themselves, know that all of them are compact. Nothing bigger than a 2BHK 0f 309sqft. But that said, there is excellent usage of space inside so that you don’t feel  cramped while moving around. In the studio apartment you can fit an adequate L-Shaped sofa set inside, perhaps even one that could extend as a bed and/or provide some additional storage space. There is space for a wall-unit and/or large flat screen TV in the living room.A well designed L-Shaped modular kitchen, a well designed bathroom, and a bedroom that can fit a decent sized double bed that can be folded up to provide space to enjoy a built-in wardrobe and the huge mirrors on the shutters.

In addition to this private space you would have to yourself, the project includes access to plentiful communal spaces such as business centre, co-working spaces, community dining, community kitchen, music room, yoga room, Jain temple, Ganesh temple, meditation room, party hall, fitness centre, aerobics studio, mini theatre, cigar lounge and library, spa, swimming pool, club house, children’s play area, party deck, park, landscape sit out, gazebo etc. So basically many of the spaces that would have been part of bigger homes in the luxury segment are shared spaces in this project such that luxurious living is made affordable to more people.

Now coming to the social infrastructure that makes old, settled and affluent neighbourhoods so attractive, that people compromise and live in deteriorating old buildings without modern conveniences :Moving to this location requires no great compromises.Tw0 good schools RBK International and Garodia International are close by. Additionally, every sort of everyday shopping is available just across the road in Garodia Nagar. So simply no question of buying into a new development and waiting for shops to get established around them. Additionally, as few lucky people do, people of this area have a couple of great malls close by :Phoenix Market City and R City mall. So this property is a good reason for people living in the old city to ask if sticking to the familiarity of an old place is a good enough reason to live with the problems of monsoon leaks, old piping and ancient plumbing ?

Now coming to the actual price for all these advantages. The smallest unit is priced at 45lakhs.At present the company offers a subvention scheme packaged with a zero furniture cost and zero GST, registration etc. cost. Also for those who might find getting a regular bank loan difficult, the company offers a zero documentation loan, simply on the basis of the Aadhar Card. Additionally, they have no problem with self financing by the buyer as long as payments are made as required at various stages of construction. Further discounts are possible for upfront payments.And as usual there are many bells and whistles you can purchase on paying extra: opting for a higher floor, getting a premium view, purchasing car parking space etc.

Now as this is a project that’s just been launched, if you are interested you must sit down with your CA to figure out which financing option is best for your case. Additionally you need to have a lawyer take a look to see if the papers are all in order and how you can protect yourself in case of delays for the exact loan burden during the construction period is not quite clear at this point in time. But the location of the project, its rental value and scope for capital appreciation in future as the whole strip develops and is connected by the proposed Metro Line 4, makes it worthwhile making a trip to this exhibition, if for nothing but to see this huge layout of Mumbai they have put up :wealthymatters


And if you share my assessment of the value of the location, you won’t think its a waste of money doing further due diligence on the property.


About Keerthika Singaravel

Please Leave Me Your Comments!I Love Reading Them!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: