Ahuja Constructions Launches O2

Recently, one of the Mumbai-based real estate developer, Ahuja Constructions launched its brand new luxury residential project at Sion suburb, Mumbai. This new residential project O2 is strategically located at Sion, Priyadarshini Park and this location is one of the most prominent locations in all over Mumbai. Apart from that this project is also equidistant to the Eastern Freeway Santacruz -Chembur Link Road, Eastern Express Highway and BKC. It is also only few kilometers away from the business centres, malls, finest hotels and other premium enterta­inment hubs.

About O2 Residential Project:

O2 residential project is located in the heart of Mumbai at Sion suburb. This 19 tower residential project is spread o the area of 2.5 acre with total 310 apartments spread across 6 wings. Here you can find different size of apartments as per need such as; 3 BHK with 1,660 sq ft size, 2.5 BHK with 1,320 sq ft and 2 BHK with 1,130 sq ft to 1,230 sq ft area. The base price for apartments are Rs 14,499 per sq ft, however; the apartments cost is about Rs 1.65 crore onwards. Currently, project is in under construction and it is expected that till December 2018 apartments will be ready for possession.

Advantages with O2 Project:

The significant advantage this residential project is that it will provide hassle-free connectivity with all over city, no matter you want to access the domestic or international airports at the other end, Bombay-Pune Express way, Navi Mumbai or any other place. Apart from that location will also provide great connectivity will all the other premium destinations such as; Nariman Point, Bandra, Andheri, Ghatkopar, Thane and Worli. According to officials O2 project has an oasis of nature in an urban setting as it is providing vibrant life style with tapestry of experiences. Apartments in O2 project will provide both luxury as well as safety to the buyers. Project has G+19 storey tower with 310 apartments spread across 6 wings with lavish 3 BHK, 2.5 BHK and 2 BHK apartments with sunshine¸ modern conve­niences, fresh air and all the other essential amenities to live comfortable life, the company claimed.

All the modern amenities at this new residential project will include multipurpose court¸ clubhouse, spacious designs, indoor games room, swimming pool with kids’ pool at a height of 70 metres, library, outdoor space for yoga, open air party deck, gymnasium and ample parking space. You will find an air conditioned lounge in grand entrance lobby with separate elevators for each wing. Apart from that this project is also offering a lot of green space, charismatic aroma garden with sculpture garden and landscape garden at podium and terrace with children’s play area and senior citizens’ area.

If you are ideal destination lovers ad love to enjoy metro city life at weekends or evenings, so with emphasis on contemporary architecture and quality construction, O2 is one of the best residential project in all over Mumbai, said Gautam Ahuja, MD of Ahuja Constructions.

Motilal Oswal Real Estate

MORE, (Motilal Oswal Real Estate) the real estate arm of Motilal Oswal Group plans to raise about Rs. 1000 crore through its third real estate fund. The funds will be utilized for development of residential projects by reputable developers in the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), cities like Bengaluru, Pune, Chennai and Hyderabad. The money will primarily be raised in about a dozen transactions of Rs 80-120 crore each from high net worth individuals and family offices.

Explaining the move, Sharad Mittal, director and head of the fund said, “the realty market is consolidating right now and prices are expected to remain stagnant for some time. This therefore, is the correct time for investors to invest through indirect investing since we would participate in the project profits rather than relying entirely on the future price rise.”

The fund has been set up as an alternative investment fund or AIF category II, registered with stock market regulator SEBI. “We expect to achieve first close by mid-January 2016 and conclude fundraising in the next six-nine months depending on the market conditions. Given the current scenario, direct investments may not fetch superior returns,” he added.

Motilal Oswal has in its two earlier funds invested capital under a mezzanine structure in top five property markets with developers such as ATS, Shriram Properties, Godrej Properties, Rajesh Lifespaces, Ahuja and Casa Grande. The new fund will also focus on top six property markets in the country. The first fund worth Rs 200 crore, raised in 2009, has been fully deployed and is currently in exit mode. The fund has exited its four out of total seven investments and given returns of about 82% of the capital. In March this year, MORE had raised Rs 500 crore through its second fund which is presently in investment mode wherein around 80% of the capital has already been deployed.

The third & the new fund, with a tenure of five years from final close looks to target a gross internal rate of return of about 23 – 25%. “We shall continue to undertake mezzanine investments with established developers for their mid-income housing projects across top cities. We shall also undertake structured equity investments depending on the market scenario,” said Mittal.