LOCAL INFO

POWAI GEOGRAPHY

Powai is situated north of Bombay Island (Mahim) and south of Powai Lake. It is today, centrally positioned between the Western Railway line / Western Express Highway & Eastern Railway line / Eastern Express Highway.

Powai's proximity to International Airport, MIDC Seepz, CBD Andheri Kurla Road combined with Hiranandani Business Park has renewed its importance as an important commercial hub. The InfoTech growth has given rise to quite a few start ups and BPO’s in Powai. There are more than 100 corporate offices in the area of Powai, Including Bayer , Hiranandani Constructions, Transocean, Sony Pictures, Blue Star, Colgate-Palmolive, Nestle, Jet Airways, Federal Express, Chemtech, IL&FS, Samsika Marketing Consultants, Shalimar Paints, Larsen &Tuobro and Mahendra British Telecom(MBT). Recently, a world class Hospital Dr LH Hiranandani has joined ranks with them for tertiary healthcare of Powaiites and around.

It has some of the leading hotels like Renaissance, Marriot Executive Apts., The Fern Eco Hotel, Hotel Rodas and The Residence. Raheja Conventional Center is one of the biggest conference hall which can accommodate 3000 persons. The Indian Institute of Technology Powai(IIT), SP Jain Institute of Management (IIT),Regional MTNL Training Center, National Institute of Industrial Engineering (NITIE), Shipping Institute, Samsika Academy of Brand Management, are some of the well known Institute in this area

History of Powai

Powai has found mention in the Marathi history along with Mahim. The Padmavati Devi Temple in the precincts of IIT dates way back to the 10th Century A.D. as per Archeological Survey of India. The genesis of the name Powai possibly came from the word "POUMWI" which would have been corrupted from the word "POUMA" which also means "PADMA" in Sanskrit.

Powai as a location is basically famous because of the Powai lake and it is believed that the present location of Powai Lake was the original Powai Valley -- a central village, with several clusters of huts each having its own well. Powai village was also served by a rivulet resulting from the rain waters of the lowest slopes of the Western Ghats, now seen as the hillock on the South end of the Lake, with streams from the Eastern & North eastern slopes of hills.

Powai Lake was built by the British at an initial cost of Rs 6.5 lakh in 1890. It was named after Framaji Kavasji Powai Estate, which was given to one Dr Scott in 1799 on payment of yearly rent of Rs 3,200. After Dr Scott’s death in 1816, Powai was taken back by the government in 1826 and leased once again to Framaji Kavasji, a Parsi merchant. At the time, Powai lake supplied two million gallons of water to Bombay. However, after Tansa Lake became a more viable option, in 1892, Powai was turned over to the picnickers.

Powai was once a princely estate belonging to Sir Mohammed Yusuf. In 1943 just before independence in 1947 the Freedom Fighter Chandrabhan Sharma arrived in Bombay and happened to lease and subsequently buy Powai Estate in a strange twist of fate from Sir Yusuf for a paltry sum. Powai comprised of five villages : Saki, Kopri, Tirandaz, Powai and Paspauli then.

In the late fifties a portion of Powai was given to the Government to set up Indian Institute of Technology (IIT). The then Prime Minister, Jawaharlal Nehru, had personally come to finalise the area and on meeting Chandrabhan Sharma motivated him to give the land at no cost in the name of Nation. At the same time a young engineer from US called Toubro had got a major contract in Mumbai and had leased vast tracts of land to L&T from Sharmas.

The modern or the new Powai came into existence after 1985 when the Hiranandanis got permission from the government to convert this agricultural land to residential complex. They leased vast tracts of land between Powai hill & Powai lake from the Sharma Family & Annapurna Farms belonging to the Dharias & Ghambirs. These jungles saw themselves being converted to a planned township by the vision of Hiranandani Builder to what it look today. Hafeez contractor's elevation and facade has completely changed the skyline which now has become a role model being emulated by other builders in India.

Today, Powai has three distinct landmarks that makes it the fastest growing suburb of Bombay namely the Powai Lake, Indian Institute of Technology (IIT) and the new township of Hiranandani Gardens. The prevalence of a modern mixed township with the best amenities: Shopping Malls, modern Hospital, schools, entertainment hubs, Parks, cafes and eateries, Retail Banks; concentration of corporates, call centres and start ups have made it an ideal destination for work and stay. Presence of L&T and the Shipping Institute adds prestige to the locale. The Jogeshwari vikhroli link road that emerges as a Western to Eastern link axis has made the location connectivity to other areas very easy.

POWAI TRANSFORMATION

Powai has grown tremendously in the past decade and is presently a residential commercial and retail hub for the eastern suburbs of Mumbai. It has grown into a modern suburb with state-of-the-art structures and commercial projects.

The real estate price graph has been on the rise almost consistently from 2008. The price has dramatically appreciated in the past seven years point out realty experts. The available residential and retail development makes the area self- contained. It is situated with easy access through roads from eastern and western suburbs and good connectivity through rail network on the central suburban line.

Bounded by the hills of Vikhroli Parksite and the Sanjay Gandhi National Park. Powai boasts of some of the tallest residences this side of Mumbai. With affordable rates great connectivity and thriving social infrastructure, Powai has slowly established itself as a micro market that has become buyers prime choice.

Further realty experts observe that development involving a residential complex with multiple configurations features the highest absorption compared to small and ultra small projects. The buildings in Powai are quite contemporary, the design style is neo classical and it has a rich cultural outlook . It is an ideal destination for commercial as well as residential spaces. Powai is a perfect example of a fully developed residential hub consisting of malls, hotels, hospitals, banks, shops among others.

Of late Powai has been termed the start up valley of Mumbai. NRI’s are attracted towards these projects for investment. the housing supply in this area has been growing at an approx imate rate of 10% for the past four years. Considering high rentals in the area one can expect good returns. For NRI’s especially it is the world of comfort and premium lifestyle, the most coveted neighborhood. Due to the creation of the JVLR (Jogeshwari Vikhroli Link Road) things have improved drastically with improved infrastructure.

A lot of IT/ITES companies have come up in Powai. The rates for high end office space ranges from Rs. 25,000-30,000 per sq.ft. The commercial spaces in Powai offer scalability to its clients with well-decorated entrances and lift lobbies. Value added services include residential lease desk, project management and consultancy. Developers today are offering smaller units of space in grade A buildings. This is in sharp contrast to the scenario a few years ago where only much larger units were available making it tough for small investors to invest.

The office market in powai has displayed lot of resilience in the recent past, when despite all the continuous negative news flows, high interest and inflation rates, the office market fundamentals continued to improve in Powai. This was of course assisted by strengthening business conditions, improving property market fundamentals and corporate hiring. There were signs of overcoming the consequences of the global economic slowdown due to expansion demand, relocation demand and upgrading demand offering relief to its various stake-holders.

The office market in powai has displayed lot of resilience in the recent past, when despite all the continuous negative news flows, high interest and inflation rates, the office market fundamentals continued to improve in Powai. This was of course assisted by strengthening business conditions, improving property market fundamentals and corporate hiring. There were signs of overcoming the consequences of the global economic slowdown due to expansion demand, relocation demand and upgrading demand offering relief to its various stake-holders.

What gives Powai an edge in today’s real estate markets? Some of the largest multi nationals and Indian corporate have situated their corporate offices in this very location. The eastern suburbs boasts of robust civic and social infrastructure with an array of malls, health care centers and mega stores. With some premium star hotels and high-profile clubs in the vicinity , the overall lifestyle quotient of the area remains quite high .Powai enjoys swift connectivity with most of the prime suburbs of Mumbai . The Mumbai international airport is just about 5 km away.

EDUCATION

The Indian Institute of Technology, located at Powai, is the second oldest campus of the Indian Institutes of Technology, founded in 1958 with assistance from UNESCO and with funds contributed by the Soviet Union.

The Indian Institute of Technology, Mumbai, colloquially referred to as IITB or IIT Bombay is considered to be one of India's foremost technology and research institutions, and is ranked by the Times Higher Education World University Rankings between 301–350 and ranked at 225 in the QS World University Rankings. NITIE, another institute recognized as one of the 15 Centres of Excellence by the Government of India is also situated nearby. The business school, which started off as an Industrial Engineering institute, today offers full-time Post Graduate programs in both Industrial Engineering and Industrial Management.

Powai has numerous schools and colleges to provide for the pre primary, primary, secondary and higher secondary education requirements of residents. The Kendriya Vidyalaya-IIT Powai, a constituent school of the Kendriya Vidyalaya system, is situated within the IIT campus, and is affiliated with CBSE. Founded in 1964, it is one of the oldest Kendriya Vidyalaya schools in Mumbai. The Hiranandani Foundation School (HFS), founded by the Hiranandani group to serve the Hiranandani Gardens township, is affiliated to ICSE and, since 2008, the IB diploma programme has also begun. Other Schools include the S. M. Shetty High School and Junior College and Gopal Sharma Memorial School affiliated to the Maharashtra State Board and Gopal Sharma International School affiliated with ICSE, the IIT Campus School and Powai English School which are exclusively affiliated to the Maharashtra State Board and the Bombay Scottish School, which is affiliated purely to the ICSE board. Podar School has opened its doors for the students in Powai and is rated highly by local residents.

Complex

Hiranandani Gardens, Powai

Hiranandani Gardens is a neo classical architectural marvel nestled amidst the verdant Powai hill, strategically located opposite the serene Powai Lake, A place where more than 4000 families stay. Sprawled majestically over 250 acres, Hiranandani Gardens is Mumbai’s finest residential township that has redefined the standards of elegant living. Intelligently planned, crafted with precision and embellished with care, it fulfills the delicate dreams of many, giving rise to a new perception of life and life style.

Created from barren land, this luxuriantly green and grand township is a tangible expression of a vision to create better communities. The product of a grand master plan, Hiranandani Gardens provides for every lifestyle need – real and imagined. The 250 acre site today is surrounded and transverse by enough greenery, panoramic vistas of the scenic Powai Lake, Majestic National Park Hills and lush greens of Aarey milk colony. An area set aside for gardens, forest and playgrounds, Hiranandani Gardens is true to its name, sprawling, green and serene.

Hiranandani Gardens, Powai is strategically located where International Airport is just 5km away and Domestic Airport is just 12km away.

Blending the essentials of peace, calm and comfort with luxury of opulence, space and style, this unique creation is truly in tune with the nature.



Lake Homes, Powai

Inspired by water front living, Lake Homes ( a project jointly developed by Ekta and Supreme developers) is a peaceful residential community nestled amidst acres of dedicated landscaped greens. The township is divided into 5 phases and 1500 families reside in this wonderful complex.

At the heart of Lake Homes is a spectacular three-storied recreation center called The Lake Club. Highlighted by scenic views of water and hills, the club has been equipped with a wellness center that prides of the latest in health and gymnasium equipment, besides the tennis courts, a swimming pool, a mini-theater, a multi-cuisine restaurant, a banquet hall and much more.



NAHAR’S AMRIT SHAKTI

Nahar’s Amrit Shakti is a 125 acres of lush green and award winning integrated township in the midst of the city at Chandivali, Andheri East. Centrally located, this township has one of Asia’s largest Vehicle Free Podium Garden with over 3500 families residing happily.
Township landscape sprawls up to over 46,000 sq. mtr. (over 5 lakh sq ft) Vehicle Free Podium Garden, rejuvenating Gardens, multiple Azure Water Bodies, fascinating Sculpture Garden and engaging imported Kids’ Play Areas. Innumerable amenities to enjoy include Skating Rink, Sculpture Garden, Life-size Chess Board, Life-size Snakes & Ladders, Multiple Dedicated Kids’ Play Areas with Kompan Turf and Danish Play Equipment, Mural Garden, Sculpture Garden, Water Bodies, Jogging Track,Amphitheatre, Squash Court, Badminton Court, Table Tennis, Kids’ Swimming Pool, Reflexo Path, Tennis Court, Indoor Game Area in Clubhouse and Pool & Billiards.

Nahar’s Amrit Shakti is a fully equipped township that also includes: Clubhouse, Jain Temple, Nahar Medical Centre, Supermarket, Nahar International School, Nahar Business Centre, Nahar Shopping Plaza and Club Bloomingdale.

Its ideal location provides easy access to areas like Ghatkopar, Andheri east, Bandra Kurla complex, Powai, Bhandup and Vikhroli .Supermarkets like Dmart, Haiko are in close proximity and also hospitals and top schools are in the radius of a few kilometers making it a popular destination for young families who are looking at premium facilities at affordable prices.



Raheja Vihar,Chandivali

In close proximity to the Powai Lake, Raheja brings luxury living to Chandivali, offering refined living spaces amidst wide open areas and within city precincts. An oasis of calm, Raheja Vihar Mumbai offers you an inner sanctum hard to find in the city chaos. A cluster of buildings with a wide range of apartment varying from 2, 2.5, 3 to 4 BHK luxury apartments the property offers superlative amenities which range a state-of-the-art Club House, swimming pool, lawn tennis court,squash court, badminton court, high-end gym and banquets.

With the new Metro station just a stone’s throw away and the airports & highways in close proximity, connectivity to & fro Raheja Vihar is as good as it gets.