Index

1.0 Overview- Badlapur

1.1 Attractive & Affordable Housing Destination

1.2 Connectivity augments Growth

1.3 Employment and Economic activity to aid Growth

1.4 Well-established Civic Amenities, Social Infrastructure, Pollution-free & Green environ

1.5 Growth in Demand-Supply making it an Attractive Destination

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Badlapur – Forthcoming Attractive Affordable Housing Destination

Badlapur, situated on outskirts of Thane, is located at ~68 Kms from Chhatrapati Shivaji Terminus (CST). Enhancement of growing infrastructure capacity has led to intense urbanization and density growth in this area since 1980. Improved infrastructure combined with increasing economic activity in both existing and new­employment clusters, has resulted to Badlapur emerge as a preferred residential destination owning to affordability, accessibility and increased quality of life.

1.1 Attractive & Affordable Housing Destination: Badlapur, majorly an end­user driven market is preferred by Managerial/Middle/Low­income­class salaried professionals seeking 1/2/3 BHK (Bedroom, Hall and Kitchen) apartments priced at ₹20­30 Lakhs/Unit. With average capital values ranging from ₹3,000/Sq.Ft. to ₹3,500/Sq.Ft. (with an average maintenance cost of approx. ₹2/Sq.Ft./month), Badlapur is increasingly seen as a preferred location for residents seeking affordable housing. Key developers have planned affordable housing townships in Badlapur mainly owing to land availability at competitive rates.

1.2 Connectivity augments Growth: Badlapur, is well­connected to Mumbai,Pune andBhiwandi through Rail & Road network. The closest airport is Mumbai International Airport (approx. 55 Kms from Badlapur) and is located at a distance of 10 minutes proximity from Kalyan Junction (which connects to all parts of India). It is connected to industrial developments between Taloja and Panvel, enhanced by 6­lane pipeline road enabling commuters to reach Navi Mumbai via Dombivali.The up­coming infrastructure projects, including new road projects, mono­rail extension & New International Airport at Navi Mumbai, add to the connectivity of Badlapur to hinterland and other urban nodes.

1.3 Employment and Economic activity to aid Growth: Badlapur has witnessed increase in focus on industrial and residential development, which identifies this location as a major economic growth node by MMRDA (Presence of MIDC area within Badlapur). The SMC’s (Small & Middle Scale Companies) are shifting to Badlapur­Karjat stretch from Goregaon­Andheri stretch, as the latter areas have higher rentals owing to recent commercial developments, thereby forcing SMCs to shift base to aforementioned cost­effective regions. Badlapur is preferred by residents working either in industrial units or IT/ITES units located in Navi Mumbai, Dhirubai Ambani Knowledge City (DAKC in Koparkhaine), Thane and Chhatrapati Shivaji Terminus, as it offers LIG and MIG options. However, this is not limited to same as residents with jobs within BMC limits (Bombay Municipal Corporation) prefer Badlapur due to its affordability and connectivity.

1.4 Well-established Civic Amenities & Social Infrastructure, Pollution-free and Green environ: Badlapur’s infrastructure growth encompasses civic amenities such as Schools, Banks, Hospitals, Municipal Corporation, Post Office, Uninterrupted water and Electricity supply. Growth in population and increase in number of families migrating from Mumbai resulted in construction of new age schools offering wide range of options like affiliations with CBSE/ICSE. Further, a sports stadium construction is under plan for Badlapur. Though Badlapur is currently recognized as an important urban node, it has various tourist attractions for both adventure and religion inclined people with attractions such as Barvi Dam, Chokloli Dam, Shanti Sagar resort, a 1000­year­old Shiva Temple, Churches, Kondeshwar, Waterfalls, amongst others.

1.5 Growth in Demand-Supply making it an Attractive Destination: While Badlapur's RE sector is among the latest emerging regions on the peripheries of Mumbai, it is currently witnessing a lot of action by investors eager to invest on the anticipated housing boom. Increase in demand, in this region is assured in future. Considering the decadal demographic growth as per census data, it is estimated that, this region is likely to witness annual housing demand of ~5,500 units (Refer table on page.no.17). Since, Badlapur has good land availability, the region is viable for growth and hence prices are likely to move north going forward. Currently, entry price point is affordable enabling good returns, considering that appreciation margins for real estate is large given the infrastructure initiatives which are underway.

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Overview Badlapur Badlapur, situated on outskirts of Thane, is located at ~68 Kms from Chhatrapati Shivaji Terminus (CST). Enhancement of growing infrastructure capacity has led to intense urbanization and density growth in this area since 1980. Improved infrastructure combined with increasing economic activity in both existing and new employment clusters has resulted in Badlapur emerge as a preferred residential destination owning to affordability, accessibility and increased quality of life. Badlapur has good accessibility to Mumbai, Navi Mumbai and Pune. Given its proximity to the upcoming Panvel­Badlapur Highway, Metro connectivity via Thane, Badlapur is expected to absorb future growth through Population, Business and Commercial activity. Geographic Divide Badlapur city encompasses the old villages of Badlapur, Kulgaon, Manjarli, Belavali, Katrap and many other smaller villages. Badlapur is virtually divided into two regions, East & West, by the central railway track. The topographic character is hilly for the eastern side while western side is slightly contoured. The topography of the location along with layout of the key roads and railway line characterizes the density of development. Badlapur West is comparatively a low lying area and witnesses water logging issues during the monsoon season given that the Ulhas river flows through Badlapur and thus most residential and industrial developments are concentrated in Badlapur east region. Key Villages Comprising Badlapur

Note: - - - - - - - - - - - Denotes Badlapur Railway Station Source: Google Maps

1.1 Attractive & Affordable Housing Destination

Badlapur, majorly an end­user driven market is preferred by Managerial/Middle/Low­income­class salaried professionals seeking 1/2/3 BHK (Bedroom, Hall and Kitchen) apartments priced at ₹20­30 Lakhs/Unit. With average capital values ranging from ₹3,000/Sq.Ft. to ₹3,500/Sq.Ft. (with an average maintenance cost of approx. ₹2/Sq.Ft./month), Badlapur is increasingly seen as a preferred location for residents seeking affordable housing. Key developers have planned affordable housing townships in Badlapur mainly owing to land availability at competitive rates.

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Attractive Affordable Housing Destination Compared to Other Key Regions

Particulars Badlapur Ambernath Kalyan Average Rates (₹/Sq.Ft.) 3,200 3,300 5,200

Approx. Distance & Travel Time From ­ Churchgate (Distance­ Kms) 64 61 58

­ Churchgate (Travel time) 1 Hr 25 mins 1 Hr 20 mins 1 Hr ­ Navi Mumbai (Distance­ Kms) 39 37 32

­ Navi Mumbai (Travel time) 1 Hr 30 mins 1 Hr 24 mins 1 Hr 30 mins ­ Koparkhaine (Distance­ Kms) 31 27 24

­ Koparkhaine (Travel time) 1 Hr 25 mins 1 Hr 19 mins 1 Hr 3 mins ­ Taloja MIDC (Distance­ Kms) 29 25 27

­ Taloja MIDC (Travel time) 54 mins 44 mins 1 Hr 1 mins ­ Airport (Distance­ Kms) 54 52 43

Source: Google & HDFC Realty

Residential RE development in Badlapur, indicates growth in No.of. Projects towards Badlapur (East)

Source: HDFC Realty, Google Maps

In recent years, Badlapur has emerged as one of the preferred residential destination and has witnessed massive inflow of population, from across various suburbs from Mumbai, mainly owing to affordability, accessibility and green environ. Being well­connected to Mumbai, Navi Mumbai, Panvel, Dombivali Kalyan and Pune makes it an attractive residential option for the working population in these aforementioned areas. Badlapur offers attractive residential options with average capital values ranging from ₹3,000/Sq.Ft. to ₹3,500/Sq.Ft. (with average maintenance cost of around ₹2/Sq.Ft./month). The region boasts of many planned affordable housing townships (mostly close to the railway station) by key developers, mainly owing to the fact that, this region has good land availability and given its potential for future growth potential.

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Details of Key Residential Projects in Badlapur

Project

Developer

Badlapur East/West

Launched Units

Sold

Sold (%)

Price (₹/Sq Ft)

Likely Completion

No.on the Map

Jeevan Lifestyles Jeevan Enterprises East 124 87 70.2 3,200 Jun­15 1

Mohan Palms Viva II Mohan Group East 98 73 74.5 3,700 Aug­15 2

Panvelkar Optima Panvelkar Group East 17 15 88.2 3,510 Aug­15 3

Panvelkar Vellozia Panvelkar Group East 149 99 66.4 2,899 Aug­15 4

Panvelkar Bhoomi Panvelkar Group East 112 102 91.1 3,000 Sep­15 5

Usha Kiran Residency Phase III

Stalwartimpex Pvt. Ltd.

East 98 89 90.8 3,300 Sep­15 6

Samruddhi Evergreens (Phase 3)

Poddar & Ashish Developer

East 1032 600 58.1 3,400 Oct­15 7

Arihant Anmol Arihant Superstructures

East 412 286 69.4 3,350 Nov­15 8

Tulsi Arambh Raj Group East 270 45 16.7 3,050 Dec­15 9

Mohan Greenwoods Mohan Group West 120 90 75.0 3,650 Dec­15 10

Panvelkar Estates Panvelkar Infrastructure Pvt.Ltd

East 252 72 28.6 2,950 Feb­16 11

Mittal Arcade Balaji Construction West 100 68 68.0 3,600 Apr­16 12

Kalp City Kalp Group East 280 217 77.5 3,100 May­16 13

Panvelkar Heights Panvelkar Group West 165 73 44.2 3,300 May­16 14

Kalp Nisarg Kasata Home Makers

East 243 201 82.7 2,900 Aug­16 15

Pranjee Garden City Pranjee Properties Pvt. Ltd.

East 364 128 35.2 3,000 to 3,400

Nov­16 16

Satyam Paradise Shree Satyam Developers

East 172 166 96.5 3,350 Dec­16 17

Vasant Springwoods Dalal Buildcon East 119 80 67.2 2,900 Dec­16 18

Mohan Highland Mohan Group East 420 225 53.6 3,400 Dec­16 19

Vedant Nakshatra Tharwani Infrastructures

East 196 84 42.9 3,700 Dec­16 20

Mohan Willows Mohan Group East 347 58 16.7 2,950 Jan­17 21

Ritu World Tharwani Infrastructures

East 196 104 53.1 3,400 Jun­17 22

Tulsi City (Arambh) Raj Group East 708 52 7.3 3,100 Jun­17 23

Tulsi Signature Raj Group West 90 7 7.8 4,500 Jan­18 24

Godrej Vihaa Godrej Properties East 504 ­ ­ 3,300 Sep­18 25

Source: Company Executives, HDFC Realty

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On comparison with key regions in the vicinity, Badlapur emerges as a lucrative option Badlapur, Ambernath, Kalyan & Panvel offer good affordable residential RE options for prospective home buyers, on the Central Railway line in Mumbai. The primary factor driving the RE growth in the aforementioned areas is the sky­rocketing prices in Mumbai suburbs, coupled with the growing demand for affordable housing (Mumbai continues to attract migrants who come to financial capital with hopes of employment opportunities). Yet, the present capital values have led a huge gap in demand and supply, though there is huge pile up of unsold inventory. Over last couple of years, the twin cities of Ambernath­Badlapur have emerged as preferred residential destinations compared to nearby areas such as Kalyan and Dombivali, largely owing to affordability and accessibility.

Considering current land availability Badlapur is likely to hold ‘affordable’ tag going forward

Particulars (₹/Sq. Ft.) Badlapur Ambernath Kalyan Panvel

2010

2010 ­ Land Values 900 900 1,100 750

2010 ­ Capital Values 2,500 2,500 3,000 3,000

2015

2015 ­ Land Values 1,350 1,350 2,250 1,250

2015 ­ Capital Values 3,200 3,400 4,500 4,500

% Change ­ Land Values 50% 50% 105% 67%

% Change ­ Capital Values 28% 36% 50% 50%

2020 ­ Likely Scenario

Growth Assumption ­ Land Values 25 50 50 60

2020 ­ Land Values 1,688 2,025 3,375 2,000

Add: Construction Cost & Others 2,200 2,200 2,200 2,200

Total Cost per sq. ft. 3,888 4,225 5,575 4,200

Developer's Margin (%) 30 30 30 30

Developer's Margin 1,166 1,268 1,673 1,260

Capital Values 5,054 5,493 7,248 5,460

% Change ­ Capital Values 58% 62% 61% 21%

Source: HDFC Realty On comparison to Ambernath, Badlapur emerges as a more attractive residential option for home buyers as the later has more land availability and hence offers many well planned/self­sustained residential townships. Compared to Kalyan, Badlapur offers better infrastructure (as it has been recently planned compared to Kalyan) and civic amenities thereby making it more attractive for home buyers. Badlapur gives close competition to Shilphata on the central railway line inspite of many residential developments (planned and completed) as the later experiences inconvenience due to heavy traffic congestion.

Owing to good land availability, Badlapur will continue to be affordable compared to Kalyan or Panvel, on basis of observation with increase in land values (period from 2015 to 2020) in these locations, with estimated at 25% compared to 50 to 60% increase in land values in Kalyan/Panvel. Badlapur boasts of good land availability compared to other affordable locations in the vicinity such as Kalyan, Panvel and Ambernath, thus keeping land prices in Badlapur comparatively competitive which in turn paves way for attractive/affordable capital values. Further, Ambernath which comes as a close second to Badlapur in terms of affordability may not be able to offer attractive capital values, as the former has limited land availability owing to major residential development in the past couple of years. Hence, Badlapur is likely to hold its ‘affordable housing destination,’ tag going forward with attractive price points compared to Ambernath, Kalyan and Panvel. (Refer to hypothesis and working below).

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1.1.1 Majorly End-User driven Market The Geographical spread of Badlapur is expanding mainly owing to rising population and being preferred destination by the salaried class people, who have shifted to this region from the overcrowded Mumbai city in the recent past. Majority of the demographic population that shifted to Badlapur suburbs, belong to Managerial/Middle/ Low­income­class salaried professionals from Mumbai,prefer 1/2/3 BHK apartments at a budget range of ₹20 Lakhs to ₹30 Lakhs/Unit. 55% of the demand in Badlapur is for unit priced at < than ₹ 25 Lakhs (Source: HDFC Realty)

In recent times, the demand has notched up given the local population desire to reside in gated communities (which includes basic amenities along with round the clock security). The residential developments, which were around 6­7 stories high, have increased to 12 stories for new constructions. Badlapur East has more residential developments compared to Badlapur West as (i) it houses many industrial developments including the MIDC and people usually prefer to live close to their work places and (ii) Badlapur West, being comparatively low lying area has water logging issues during the monsoon season.

Prospective Home Buyers’ Key preferred destinations in MMR (as % of total demand in MMR as per sample survey) Source: HDFC Realty

14% CAGR in Residential prices from 2010 onwards (Source: HDFC Realty)

Badalpur has strong end user demand as the ticket sizes are in the affordable range of ₹20­30 Lakhs/unit. However. the recent residential sales volumes have been slower compared to previous sales figures. Key developers such as Mohan and Pranjee amongst others are offering discounts of around ₹100­400/Sq.Ft. (3­5% discount) in order to push sales volumes and offload the prevailing inventory. Given the prevailing attractive payments schemes, offers and discounts, the current residential price points further become attractive entry points for prospective home buyers.

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Quarterly Sales and Price Trend in Badlapur Average residential RE prices in Badlapur have been stable over the past one year Source: Liases Foras, HDFC Realty

Quarter-wise Average Residential Prices ₹/Sq. Ft.

Increased home buyers' interest owing to the increase in planned/announced infrastructure projects

Source: Liases Foras, HDFC Realty

Badlapur is amongst the top 5 attractive locations (considering upcoming supply in MMR)

Home buyers prefer Badlapur compared to other affordable locations such as Ambernath and Kalyan in the vicinity

Source: Liases Foras, HDFC Realty

Quarterly Trend in Residential RE prices compared to the Overall City Index Average residential RE prices in Badlapur have been stable over the past one year Source: NHB Residex

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1.1.2 On-going Residential Activity in Badlapur Breakup of Under-Construction & Completed Projects Considering the parameters, like rising population and futuristic growth potential, Badlapur has attracted several prominent developers from Mumbai, who have lined up their future construction projects here. At Present, the key­developers in Badlapur include: Mohan Group, Tharwani Developers, Poddar Developers, Pranjee Group, Shashwat Group, Arihant Developers amongst others. Further, key developers have planned townships in this region owing to good land availability and some of these key townships are located close to the station, thereby making it more attractive as it provides easy access to commuting options. With average residential RE prices of ₹3,500/Sq.Ft., Badalpur (East) region is comparatively expensive to Badlapur (West) region, where average residential RE prices are around ₹3,000 to 3,200/Sq.Ft. Source: Liases Foras, HDFC Realty

Mohan Greenwoods Panvelkar Bhoomi Mohan Palms

Badlapur East region commands higher capital values compared to Badlapur west as the former region has more residential developments as (i) it houses many industrial developments including the MIDC and people usually prefer to live close to their work places and (ii) Badlapur West, being comparatively low lying area has water logging issues during the monsoon season. Average residential rental rates are similar in both regions, at about ₹5,000 to 6,000/Sq.Ft. for a 1 BHK & ₹10,000 to 11,000/Sq.Ft. for a 2 BHK apartment.

Badlapur forms ~5% of the total upcoming supply in MMR (considering upcoming supply)

Source: Liases Foras, HDFC Realty

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Key Developers in Badlapur

% share considering completed and under construction residential developments

Source: Liases Foras, HDFC Realty

1.1.3 Attractive entry point considering healthy demand and future prospects

Given Badlapur’s Land availability, this region is viable for growth and thereby prices are likely to soar. At present investment Entry­Points at Badlapur are within affordable range. Considering trends in price value, Social & Physical infrastructure, Employment opportunities & connectivity, Badlapur has a lot to offer to both Investors and End­Users. Investments here will yield good returns, considering most of infra initiatives taken and the impact reflect on prices, once these projects are completed.

Site Pictures of Key Residential Projects/Shopping Areas/Infrastructure Projects in Badlapur

Patel Mart – Super Market Shreeji Centre at Katrap­ Leased to Key Skywalk at Badlapur East at Gandhi Chowk Tenants such as Waman Hari Pethe, Kotak and Dominos

1.2 Connectivity Augments Growth (Well-connected through Road & Rail Network)

1.2.1 Railways offer good connectivity

Badlapur, is well­connected to Mumbai, Pune and Bhiwandi through Rail & Road network. Better yet, the Mumbai International Airport (approx. 65 Kms) is 10 mins away from Kalyan station (a junction that connects to all parts of India). The prompt way to reach Badlapur, is by local trains (EMU) that shuttle between Badlapur & Mumbai, round the clock. Over 100 local trains, travel between CST Mumbai­Badlapur­Karjat everyday. Considering the proposed upcoming Navi Mumbai Airport & the Alibaug­Virar multi­modal corridor, the centrally located Badlapur stands to gain advantage. Badlapur Terminus Station is directly connected to CST and well­connected to Thane, Kalyan, Dombivali, Panvel, Navi Mumbai (via) State Transport & Local Bus Network. Navi Mumbai NMMT Bus service from Vashi­Panvel­Badalpur connects MHAPE, MIDC, Info Tech parks & other booming industrial zones with prime railway stations. 1.2.2 Planned Infrastructure projects to boost future connectivity

Over recent years, MMRDA shifted its primary focus towards development of infrastructure projects in Greater Mumbai limits, given population growth and in­view to improve infrastructure for overall regional development. In this regard, the Government has planned many Highway/Road projects in order to improve connectivity. Badlapur is connected to Kharghar & Panvel (via

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MIDC road) to Taloja, so commuters can reach Navi Mumbai via Dombivali through 6­lane pipeline road. New proposed Katrap–Panvel road will reduce travel time to Navi Mumbai from 39 Kms (at present) to 28 Kms. Also, the proposed Navi Mumbai International Airport is a 35 mins drive approximately. Further, proposed Alibaug–Virar Corridor (MMRDA project) passes through Badlapur station. And, the proposed monorail from Navi Mumbai to Ambernath and connectivity to Pune, makes commuting easier. Few such projects that are likely to improve connectivity to Badlapur are:

Project Details/Likely Benefits Katai Naka­Badlapur State Highway (part of Dombivali)

19.2 Kms, widened to a six­lane highway aiding in smooth flow of traffic

100 Feet Bypass Road Ensuring smooth flow of traffic through Badlapur Upcoming/Proposed Infrastructure Projects Neral­Badlapur Highway Ease Connectivity between Kalyan and Karjat. The NMMT bus

services are active on this route. Shil­Phata Karjat Road Passes through Badlapur connecting to Navi Mumbai. Vangani­Karjat State Highway 21.1 Kms State Highway aiding ease of connectivity and smooth

flow of traffic. Kalyan ­ Badlapur ­ Vangani State Highway 27.80 Kms long highway, improving connectivity. Virar­Alibaug Road (Multi­Modal Corridor) Part of the 126 Kms long Virar­Alibuag Multi Modal Corridor, is a

proposed 20 Kms road between Dombivli and Badlapur that will bypass Kalyan.

Vasai­Virar to Panvel bypass via Badlapur Improving connectivity of Badlapur.

Some other highways are being upgraded to 4­lanes Cutting travel time for commuters to and from Karjat to Khopoli or Pune.

Source: MMRDA, Google & HDFC Realty

Note: Similarly in Mumbai Metropolitan Region several projects are in pipeline, some of which include ExtendedMumbai Urban Infrastructure Project (MUIP), Multi Modal Corridor connecting Virar and Alibaug, KalyanRing Road, Shirgaon­Padgha­Titwala­Badlapur Link, Neral­Dasturi Naka­Matheran Road, Khopoli Bypass Road, etc. Further on, feasibility studies are underway to undertake road projects like Kalyan Ring Road, Shirgaon­Padgha­Titwala­Badlapur Link, Neral­Dasturi Naka­Matheran Road, Khopoli Bypass Road, etc. in the Eastern Mumbai District. Under Extended MUIP, various Roads, Fly­overs and Creek bridges are under construction apart from development of 9 different roads in Vasai, Virar, Mira Road, Bhayendar, Dombivli, Kalyan, Ambernath, Karjat and Badlapur. Similarly, 6 flyovers are under construction in above mentioned areas including Thane along with a rail over bridge on Thane­Belapur Road.

Well-connected by Road, Badlapur gains from proposed Road/Infra projects

Source: MMRDA, Google & HDFC Realty

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Badlapur – Well Connected To Mumbai, Navi Mumbai, Pune, Nasik and Surat

Source: MMRDA 1.2.3 Proposed Navi Mumbai Airport to Aid Growth The Navi Mumbai International Airport (planned by CIDCOin the Kopar­Panvel area), aimed at easing air traffic congestion at the current airport was cleared by the Central government in 2007. However, work on this proposed project halted midway after encountering problems in land acquisition and environmental clearance. As per CIDCO, the global tender notices inviting RFQ (Requests for Quotes) were published in National and International Newspapers during Feb. 2014. CIDCO has received bids for the development of the airport which include companies of international repute. It is expected that the award of the bid will be done soon and once operational, the airport will be 45 Kms from Badlapur, adding to the advantage of the location.

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Badlapur ~45 Kms from the Proposed Navi Mumbai International Airport

Note: denotes existing International Airport, denotes proposed Navi Mumbai International Airport

Source: Google Maps & HDFC Realty

1.3 Employment Growth and Economic activity to aid RE Growth MMRDA notified Badlapur, as one of the significant economic centres in Greater Mumbai, thereby propelling Industrial and Residential growth in this region. The Maharashtra Industrial Development Corporation (MIDC) has developed industrial area within the area governed by the Kulgaon­Badlapur Municipal Council, reserved primarily for Chemical Industries. The area developed in different blocks, are being laid­out to serve the needs of both Small & Large scale Industries. Badlapur, earlier considered to be an industrial town surrounded by MIDC nodes, has today evolved into a preferred housing destination. Key Details of MIDC Industrial Areas near Badlapur

Name of the Industrial Estate (In Hect.) Area Developed

No. of Plots ­SSI

Existing Industries

Medium and Large Industries

MMR Wagle Industrial Estate, Thane 265 647 529 25 Dombivali 356 733 650 25 Ambarnath 229 249 174 2 Addl. Ambarnath 423 132 106 ­ Kalyan MIDC Area (Kalyan ­ Bhiwandi Road) 48 30 12 9 TTC MIDC Area (Belapur) 2,388 1,021 612 45 MIDC Area (Badlapur) 101 334 195 ­ MIDC Area Mira 8 43 34 ­ Non­MMR Tarapur MIDC Area 657 790 747 109 MIDC Murbad 126 209 111 17 Addl. Murbad 141 138 112 ­

Source: www.dcmsme.gov.in

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Badlapur MIDC, Ambernath MIDC, Industrial areas in Dombivali and Ulhasnagar are key industrial areas, that, largely contribute to the residential demand and have served as key demand­drivers for the recent residential development in this region. Further, the distance between residential areas and commercial establishments is not more than 10­15 mins. Thus, this region is likely to witness further employment growth, once retail RE sector starts picking up in vicinity.

Key Companies in Badlapur are mostly Chemical Companies/ Factories

(Ref: List of Key Companies in Badlapur in Annexures)

Source: Google maps, HDFC Realty

Note: ------ denotes railway station, denotes MIDC Area, denotes chemical companies/factories, denotes other companies/factories, kindly refer to the list of key companies in Badlapur (in annexures)

Despite commuting connectivity available to other areas, travelling time to Mumbai CBDs is significantly high, since major mode of transportation is Mumbai local train. Hence, this is one of the major reasons for Badlapur is occupied by people working in vicinity like Thane, Navi Mumbai, Mahape, Airoli (Mindspace). People working in Navi Mumbai, DhirubaiAmbani Knowledge City (DAKC in Koparkhaine), Thane and VT are gradually moving to Badlapur, as it offers options for LIG (Low Income Group) and MIG (Middle Income Group). Historically, blue­collared employees preferred Badlapur as residential suburb. Working in Thane­Belapur belt for big companies like as Mukund Steel, BASF, Siemens, RPG Life Sciences, Reliance Life Sciences and Nycomed, they chose to settle here. These areas were also considered as industrial area, nearby the towns here. With cities of Thane, Mumbai and Navi Mumbai developed rapidly, these areas later became real estate developments. Even the State Industry Body (MIDC), was proactive in the process of acquiring more land parcels in Patalganga, Ambernath and other surrounding areas.

In recent past, Badlapur grabbed the attention of several middle­level IT companies, other than regular manufacturing units, which were operational in above mentioned region. The SMC’s in Goregaon­Andheri stretch are now shifting to Badlapur­Karjat stretch. Since, commercial property values in Central Mumbai are soaring at par with Bandra­Kurla Complex rates, companies with minimal budgets prefer to shift to Badlapur­Karjat for cost effectiveness. Pharmaceutical companies and MNCs have high­growth potential in this area. The influx of new companies in this region is opening rental sanctions for residential market.

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1.4 Other Key-factors/Drivers

Boasts of well-developed Social & Physical infrastructure

Badlapur’s infrastructure growth encompasses growth of civic amenities such as Schools, Banks, Hospitals, Municipal Corporation, Post Office, Uninterrupted water and Electricity supply. Growth in population and with increasing number of families migrating from Mumbai, has resulted in construction of new age schools offering wide range of options like affiliations with CBSE/ICSE. Currently, Badlapur East is witnessing a lot of infrastructure work including ­ Road­Widening work, Electric sub­stations, New Pipelines in order to support the increase in number of people moving in new homes. Badlapur has a potential combination of traditional markets and modern lifestyle developments like Malls etc. Some large sized projects are also offering shopping complexes and multiplexes. So, the choice is open to the end user.

Badlapur boasts of good schools and colleges spread across the region (Refer to Annexures)

Source: Googlemaps, HDFC Realty Education, Sports & Cultural city

Given the growth rate in population, with number of families migrating from Mumbai, new age schools affiliated to CBSE / ICSE boards are developing to offer adequate facilities like Computer rooms, Laboratories, Playgrounds and other amenities essential for modern education. Adding to it, there are 2 colleges which are affiliated to University of Mumbai. A Sports Stadium is also being planned for Badlapur. The city will soon develop into an integrated residential destination with lifestyle and amenities to enhance the resident’s standard of living.

Zero-Pollution & Abundant Scenic Beauty

Badlapur has various tourist attractions for both adventure and religion inclined with attractions such as Barvi Dam, Chokloli Dam, Shanti Sagar resort, a 1000­year­old Shiva Temple, Churches, Kondeshwar, Waterfalls, amongst others.

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1.5 Growth in Demand-Supply making it an Attractive Entry Point Badlapur’s local­driven economy has contributed to industrial growth, thanks to over­spill from Mumbai. It is growing rapidly in terms of industrial development, providing employment to a large number of workers thereby driving the residential RE demand. Badlapur's RE sector is among the latest emerging regions on the peripheries of Mumbai, it is currently witnessing a lot of action by investors eager to invest on the anticipated housing boom. Increase in demand, in this region is assured in future. Considering immense demographic growth as per census data, we estimate annual housing demand of ~5,500 units (Refer to the table below). Demographic growth based housing need for Badlapur Particulars 2001 2011 2021 E Badlapur Population as per Census 97,948 175,516 314,512.46

Decadal Growth (%) ­ 79% 79%

Annual Growth (%) ­ 8% 8%

Household size (unit) 5 5 3.5

Households (nos) 19,590 35,103 89,860.70

Decadal addition of households (nos) 15,514 54,758

Average annual requirement of units (nos) 1,551 5,476 Note: The average household size is likely to decline with growth in no of nuclear families Source: Census India, MMRDA, HDFC Realty

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Annexures Key Statistics (Source: Google & HDFC Realty)

Description

City Badlapur

Government Municipal Council

Urban Agglomeration Mumbai Metropolitan

State Maharashtra

Badlapur City Total Male Female Population 1,75,516 91,695 83,821

Literates 1,46,259 78,910 67,349

Children (0­6) 17,194 9,096 8,098

Average Literacy (%) 92.38 ­ ­

Sex ratio 914 ­ ­

Child Sex ratio 890 ­ ­

Key Companies in Badlapur (Source: Google & HDFC Realty)

Chemical Companies Companies in MIDC Area Non­Chemical Companies Apurva Chemicals Autel C Sky Telescope

Arch Pharma Chem Pvt. Ltd. Alankar Fabricators & Engineers Arudatta Triotex Engineers Pvt. Ltd.

Dk Pharma Chem Private Limited Sigma Chemical Industries Arch Pharmalabs Ltd.

Mayur Chem. Yamini Chemicals Abhivachan Services

Pratik Elastomer Razoolone Chemicals Universal International Logistics

Ram Chem Amogh Chemicals Pvt. Ltd. Iswar Trading Co.

Rashtriya Chemicals & Fertilizers Ltd. Ava Chemicals Pvt. Ltd. Rajesh Enterprises

Rhein Chemicals Jaguar Machinery & Spares Anubhav Agro Consultants

Sachin Speciality Chemicals Private Limited Kajay Remedies Pvt. Ltd. Ashu Organics Pvt. Ltd.

Starazzo Pharma Chem Pvt. Ltd. Katial Sport & Chemical Pvt. Ltd. Phaex Polymers Pvt. Ltd.

Sumit Chemicals ­ Platinum Polymers Pvt. Ltd.

Systems & Components (I) Pvt. Ltd. ­ ­

Vedant Herbals ­ ­

Venus Fluorides & Chemicals ­ ­

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Key Schools and Colleges in Badlapur (Source: Google & HDFC Realty)

No. School Name 1 Adarsh Vidya Mandir

2 Arison English School Government Paramedical College

3 B A Talreja College

4 Balasaheb Matre Polytechnic

5 Bharat College of Commerce and Science

6 Bharat College of Engineering

7 Blossom Convent School

8 Brainwave Science Academy

9 B S M Engineering College

10 Carmel Convent High School

11 D. G. Naik High School (formerly known as Bal Vikas Mandir)

12 Don Bosco English High School

13 Fatima High School

14 Guardian College of Dental Sciences and Research Centre

15 Gurukul International School

16 Heaven Bell Convent High School, Yadav Nagar

17 Holy Writ High School and Junior College

18 Heaven Bell Covent School

19 I. E. S. Katrap Vidyalaya

20 Leelavati Awhad Institute of Technology and Management Studies and Research

21 New English High School

22 Panna English High School

23 Rajashree Chhatrapati Shahu Maharaj Vidyalaya(formerly known as S. M. Pawar Vidyalaya)

24 Shrikrishna Khamkar Vidyalaya & Jr.College

25 St. Antony's Convent School, Badlapur West

26 St. John Bosco High School and Junior College of Commerce, Belavali, Badlapur West

27 Yogi Shree Arvind Gurukul High School

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Authors

____________________________________________________________________________________________________

About Us: We are a Real Estate advisory services company. We provide end­to­end solutions for your property requirements. Right from locating the property, site visits, to closing the deal, we do it all. Being a 100% subsidiary of HDFC Limited, HDFC Realty inherits its professional expertise from the vast experience of its parent organisation. Our services are market and client focussed, and our relationships have always centred on providing tailor­made solutions while adhering to fair business practices.

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Disclaimer

The information set out in this document are prepared by HDFC Realty Limited (‘HDFC Realty’) based upon projections determined in good faith. The contents of this document are for informational purposes only. This document does not take into account the specific investment objectives, financial situation or needs of an individual/s or a Corporate/s or any entity/s. This document is not an offer, invitation or solicitation of any kind to buy or sell any property or intended to create any rights or obligation.

It reflects conditions and views prevailing as on date, all of which may be subject to change. However, no representation or warranties of any nature are given, intended or implied. Readers are requested to rely on their own investigation, including ­ the merits and risks involved, the legality and consequences; without reliance on HDFC Realty or its respective employees, agents and affiliates. A qualified professional should be consulted before making a decision or acting on any information contained in this document.

Nothing in this document is intended to constitute legal, tax, securities or investment advice or opinion regarding the appropriateness of any investment or solicitation of any product or service. The use of any information set out in this document is entirely at the addressee’s own risk. The information contained herein is intended solely for the addressee(s).

Please also note that the contents of this message may not necessarily represent the views or policies of Housing Development Finance Corporation Limited.

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