Booking has started for the 550 flats at Swaminarayan City, a 148-acre complex built around the upcoming Swaminarayan temple in the Mumbai suburb of Dombivali, real estate consultant ANAROCK said.
Built by the Swaminarayan religious group via Swaminarayan Life Space LLP, the project will primarily cater to devotees of Swaminarayan, the 19th century ascetic with lakhs of followers in Western India.
Next to the project will be the biggest Swaminarayan Temple in India, which will also have the distinction of being the biggest Hindu temple in Maharashtra.
The project will consist of 3 towers yielding a total of 550 apartments at 183 units per tower.
The available 1 and 2 BHK configurations are priced at Rs. 45 to Rs. 70.5 lakh respectively, excluding taxes.
It is located 1.5 km from Dombivli station, 2.8 km from Kopar station, 7 Km from Kalyan Junction and 3 km from Thakurli.
The project is also close to the upcoming Mankoli bridge as well as the upcoming Ring Road connecting Kalyan and Katai Naka.
Bappaditya Basu, head of the partner business at ANAROCK Property Consultants, the exclusive marketing agency for the project, said the project is not just about staying in a spiritual environment.
“Swaminarayan City also provides exceptionally high location value,” Basu said, adding that Dombivali is one of the fastest growing Mumbai suburbs and had seen nearly 2,960 new flats being announced just last year.
“Easy connectivity via local trains, improving infrastructure, relatively affordable property prices and MIDC’s big industrial complex around Dombivli are fuelling demand for mid-range housing in this region,” he said.
It is also close to the Ulhas river and offers good views of the water body, according to Anarock.
Sachin Patel, MD of Swaminarayan Life Space LLP said the project will predominantly cater to Swaminarayan devotees from within and outside Mumbai.
“However, it also benefits from matchless connectivity – which obviously is foremost on every Mumbaikar’s wish-list. Thanks to the unique confluence of location benefits, the temple and its river view, we are projecting capital appreciation of anywhere between 14-16% over the next 1.5 years.”