Top 10 Features of Viceroy SAVANA You Should Know

HISTORY

Over the last 15 years (2009-2024), Kandivali East has witnessed significant real estate appreciation, transforming from a largely mid-segment residential area into a sought-after, well-developed suburb. In the early part of this period (2009-2014), property values in Kandivali East experienced a robust upward trajectory, primarily driven by improved connectivity via the Western Express Highway and enhanced railway infrastructure. The locality started attracting a larger demographic of professionals working in commercial hubs like BKC and Goregaon. Average property prices saw an annual appreciation in the range of 8-12% during this phase, with premium projects often outperforming. The average capital value, which was around ¹8,000-¹10,000 per sq. ft. in 2009, moved towards ¹12,000-¹15,000 per sq. ft. by 2014 for quality developments.

The period from 2015-2019 saw a more moderate but steady growth, influenced by factors like demonetization (2016) and the implementation of RERA (2017). While these policy changes initially caused some market slowdown and price corrections, Kandivali East's inherent demand drivers a good mix of social infrastructure (schools, hospitals, shopping malls like Growel's 101), established residential communities, and continued infrastructure proposals ensured its resilience. Appreciation during this phase averaged 5-7% annually. By 2019, capital values for well-located projects typically ranged from ¹15,000-¹18,000 per sq. ft. Viceroy SAVANA, being a premium offering, likely commanded prices at the higher end or above the average for its segment.

The most recent phase (2020-2024), impacted by the COVID-19 pandemic, initially saw a dip in transaction volumes and a brief plateau in prices. However, the subsequent rebound, fueled by low interest rates, stamp duty reductions, and a renewed focus on larger homes with amenities, propelled the market upward again. The operationalization of Mumbai Metro Line 2A (Dahisar to DN Nagar), with stations like Akurli and Kandivali East directly benefiting the locality, has significantly boosted its connectivity and, consequently, its property values. Current average capital values in Kandivali East for well-appointed residential projects are in the range of ¹19,000-¹24,000 per sq. ft., representing a cumulative appreciation of approximately 150-200% over the 15-year period for a standard apartment, with premium projects like Viceroy SAVANA potentially seeing even higher growth due to their quality and amenities.

FUTURE PROSPECTS

The future appreciation prospects for residential properties in Kandivali East, including 'Viceroy SAVANA', for the next 5 years (2025-2030) appear strong, driven by a confluence of demand-supply dynamics, ongoing infrastructure enhancements, and its strategic location. We forecast an average annual appreciation of 6-9% for quality projects in this locality.

Growth Factors:

1. Infrastructure Development: The full impact of Mumbai Metro Line 2A will continue to be realized, improving commuting times and connectivity across the Western Suburbs and beyond, making Kandivali East even more attractive. Future phases of the Mumbai Coastal Road, and potential link roads, could further enhance connectivity to South Mumbai, reducing travel time significantly. The proposed Goregaon-Mulund Link Road will also improve East-West connectivity, benefiting Kandivali residents. These projects will maintain a strong upward pressure on property values.

2. Social Infrastructure: Kandivali East is already a self-sufficient micro-market with excellent schools, healthcare facilities, and retail options. Continued population growth and demand for quality living will lead to further development of these amenities, enhancing the 'liveability' quotient and thus property values.

3. End-User Demand: The locality continues to attract a strong base of end-users, including families and professionals, due to its well-rounded offerings, relatively better air quality compared to denser central areas, and availability of larger living spaces in organized communities. Premium projects like 'Viceroy SAVANA' cater to this aspirational segment, ensuring sustained demand.

4. Limited New Land Parcels: As a developed micro-market, large contiguous land parcels for new large-scale developments are becoming scarcer, which inherently supports the appreciation of existing, well-built projects. Redevelopment projects will be a factor, but the overall supply in premium segments might not outstrip demand.
   Risk Factors:

5. Interest Rate Fluctuations: Any significant upward movement in home loan interest rates could temper buyer sentiment and impact affordability, potentially slowing down the appreciation pace.

6. Economic Headwinds: Broader economic slowdowns or geopolitical uncertainties could affect job creation and disposable incomes, leading to reduced investment in real estate.

7. Oversupply in Specific Micro-Pockets: While overall demand is strong, localized oversupply in certain new project clusters could lead to temporary price plateaus or competitive pricing.

8. Regulatory Changes: New or stricter real estate regulations, while beneficial for long-term stability, could cause short-term disruptions. However, Kandivali East's mature market status provides a degree of insulation.
   Given the strong foundational factors and ongoing infrastructure impetus, 'Viceroy SAVANA' is well-positioned to benefit from the projected appreciation, especially appealing to those seeking premium residences with established social infrastructure and excellent connectivity.