L&T Emerald Isle: Review

Overview

AM Naik's realty gambit: Unlocking value of Powai campus can be big opportunity for L&T

Small wonder then that analysts are taking a close look at Naik's latest — and perhaps last — value-creation gambit. According to property brokers, L&T Realty has already sold nearly 300 apartments at a recently launched residential project called L&T Emerald Isle at the Powai campus. The project that was initially exclusively for L&T employees at an attractive discount was opened to the public on January 31 at Rs 15,500-19,000 per sq ft. The bookings were closed in three days, says one of the analysts. According to them, the project may reopen soon but with a likely upward revision of 10-15% in prices.

Quick Fact Check

• Total Area of Project of 16 Acres
• Total Blocks: 8 Residential Towers of 30 Storey and Level Elevated Podium
• Tennis court & Cricket bowling machine with net
• Yoga and meditation centre & Multi-purpose hall 
• Reading lounge & Golf simulator
• Children’s play area for different age groups
• Clubhouse with Swimming pool & Gym
• Sauna, spa & Jacuzzi
• Traffic-free podium 

Location

Its next to Hiranandani, opposite Powai lake & very close to L&T Business Park. Its perfect, dont think you can find a better location in Powai. The only hitch is you will have to rely on busses/ autos / your private vehicles for transportation since the closest station is Kanjurmarg which is a good 4 km away. In terms of social infrastructure, you have everything around. Powai as a location works thanks to Hiranandani, Powai. Its amongst the top 3 suburbs of Mumbai and is home to the best restaurants, schools and hospials. So that is completely taken care off.

Key distances:

• International Airport – 6 km
• Eastern and Western Express Highway – 6 km
• Bandra-Kurla Complex via Kurla – 11 km
• Domestic Airport – 11 km

Plans

Coming to the project layout the entrance is from Saki Vihar road and not lake side, you could experience some traffic jams while entering and exiting. The layout is not ideal and is a major disappointment. Views will be blocked/ compromised on the lower floors since there is a huge Mhada complex on the rear end of the project and L&T business park on the front. Tower 1 is the only tower assured of Powai lake views with the rest getting partial views from upper floors. If you are looking at towers T5, T6, T7 consider lower floors (garden side) it would be better.

A living space of 20*11 with a separate dining space of 12 * 4 is really good. Both the bedroom sizes are fairly sizes. Approx 145 sq ft master bed and guest bedroom of size 120 sqft will ensure you have decent living space. Kitchen though not ideally placed (right at the entrance is of a good size of almost 90 sqft, there are 2 counter tops which is well planned and there is a separate dry balcony. Overall its excellent.

 

The 3 BHK’s are even better. In the floor plan above you will note there is a spacious (approx. 48 sqft) deck attached to the impressive living dining space (approx 280 sqft). Again the kitchen of size more than (approx. 90 sqft) comes with 2 counter tops and a separate dry balcony area. Spacious bedrooms and a well thoughtfully planned layout is how we can describe this product.

What do we like

• Developer brand name, quality assured
• Floor plans & amenities are good
• Delivery timelines as it is L&T project
• Location and connectivity
• Apartment sizes

What we dont like

• Layout plan
• Lack of clarity on the proposed future development
• Mahada development right next to it to block views

Final verdict

If you are a young couple, want an investment home, looking to purchase an under construction apartment in Powai go for L&T, if you are still not convinced you have options like Nahar, Raheja, Hiranandani. Having said that with L&T for you know you will get a good quality product in time.