About Property

Type of Ownership Freehold
Transaction Type Resale
Facing East
Flooring Vitrified
Overlook Main Road
Open Car Parking 1
At Shimla House, Malabar Hills, Nepean Sea Road, a 2BHK unit with 975 sq ft carpet area is available for sale. The property includes two bedrooms, a hall, a kitchen, two complete washrooms, and one car parking space. The expected price is negotiable at 5 Cr. Additionally, the property is slated for redevelopment, promising investors a 60% increase in area within a tower equipped with amenities in the coming years.

Key points discussed in the building committee meeting are as follows:
1) Appointment of a Project Management Consultant (PMC) has been finalized.
2) The tender process will ensure that all society needs and member requirements are addressed for developers' consideration.
3) Each member is entitled to an extra Floor Space Index (FSI) of 62%.
4) Project completion is expected by November 2027, subject to smooth execution.
5) Notification for vacating the premises is anticipated by July/August 2024.
6) Rental income of approximately Rs. 175 per sq. ft. per month until project completion, totaling Rs. 170,625 for the mentioned flat.
7) Each member is eligible for a corpus fund of Rs. 3500 per sq. ft., amounting to Rs. 34,12,500.
8) Adequate parking with three basement levels will be provided.
9) The possibility of 10 wings is being considered, pending developer plans.
10) Each wing will have a limited number of floors (10 to 12) due to logistical considerations.
11) Modern amenities such as a gym, swimming pool, and play area will be incorporated into the building.

Property Close to / Landmark : Priyadarshani Park, Central Bank of India, Bank of Maharashtra, Hanging Garden and Godrej Baug.


Amenities

Fire Fighting Systems
Car Parking
24X7 Water Supply
Power Backup
Intercom Facility
* Fire Fighting Systems

Agent Details

Yogesh Aiyer
Yogesh Aiyer

Realspace Assets LLP

Member ID: M29473899
Total Properties Listed 501 Click to view
About Agent

Hi, welcome to Realspace - your real estate force.We are in the property marketing business for almost one and a half decades now and we immensely love what we do.Providing the right properties to our clients, facilitating a smooth real estate transa... read more ↗


Location

Simla House Location Map

Nepean Sea Road, Malabar Hill - Mumbai


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