Neptune Magnet Mal Catchment Analysis

Catchment Area Analysis

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Catchment Area Analysis for Neptune Magnet Mall


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Table of Contents

Catchment Area Analysis 1.1 Outlook: Thane-Ghatkopar Belt……………………………………………… 3

1.2 Primary Catchment Overview ……………………………………………….. 4-5

1.3 Catchment Mapping………………………………………………………….. .6

1.4 Trade Area Analysis ……………….………………………………………… 7-8

1.5 Summary & Conclusions ………………………………………………….. 9




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Outlook – Ghatkopar – Thane belt. In 2008 we saw a real estate boom. The demand for housing increased and people looked out for lesser and affordable homes. The suburbs developed rapidly and Ghatkopar – Thane belt witnessed a dramatic change. Conversion of industrial land to residential use and improving connectivity to the western suburbs and the island city is another reason for its rapid growth. During the last five years there has been a prolific growth of concrete spaces and high-rises, sturdy complexes with all amenities, and self-sustaining townships. It has seen the rise of many complexes, by prominent developers, like Kalpataru, Tata Housing, Hiranandani Gardens, Mahindra Gesco, etc, each of them offering competitive standards. In this entire stretch, Mulund and Thane have developed the most compared to the rest. The property of Hoechst Marrion Roussel Ltd on L.B.S Road, Mulund was acquired by the Nirmal Group to lay the foundation for Nirmal Lifestyles. Spread over 35 acres this is one of the largest developments in Mulund consisting of residential, commercial and retail. The residential phase is being developed in four phases and when complete it will be approximately 15,00,000 sq.ft. Phase I of “The Residency” is complete and Phase II and III are under construction. Blue diamond within Nirmal Lifestyle complex commands rates as high as Rs.6000/- per sq.ft. During the last 2 years, Ghatkopar too has witnessed a spurt of developments. It now commands a rate as high as Rs.6000 to 8000/- per sq.ft. Everest Gardens and Nand Ashish by Everest Group, Mahindra Park by Mahindra Gesco Corporation. Godrej Grenville Park by Godrej Properties is few of the prime projects. However till now real estate development in Bhandup has been comparatively slow compared to its neighboring suburbs. This scenario is slowly changing with several developers acquiring large tracts of land for development. It is gradually emerging as a micro-market in Mumbai. The commercial and retail scenario in this belt has had heightened activity with the Corporate and IT -ITs sector investing heavily in this location. The ever increasing presence of Corporate Parks, IT parks, Commercial projects and a plethora of Malls. Multiplexes, Standalone Retail Megastores and shopping arcade are all signs of a robust and healthy destination




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Catchment Area Analysis Primary Catchment Overview:

Bhandup Bhandup is one of the strategically- located eastern suburbs of Mumbai. Like most of the suburban areas, it is also divided by the railway line into East and West. Bhandup is connected by the entire stretch of eastern suburbs through Central railway line as well the LBS Marg. The entire Stretch of LBS Marg including West of Ghatkopar, Vikhroli, Kanjur Marg, Bhandup and Mulund had developed as an industrial belt. However, owing to the real estate boom the industrial units were gradually taken over by commercial and residential developments. Residential & Commercial developments Also, there are many large scale residential developments coming up in the close vicinity of the proposed Magnet Mall for example: Mahindra Splendour – residential development of approximately 3.9 Lakh sq.ft on the GKW plot, Neptune Living Point – residential development of more than 1million sq.ft, Dreamz – residential development of more than 1 million sq.ft. Kukreja Complex, Sai Ashish Towers. Kamal Park Towers. Rachana Towers by Rachana Group, Joy Majestic Homes by Joy Creations, Souvenir by GHP group, Raj Embassy by Embassy Builders. Keshav Shristi, Shristi Heights and Shristi Square by Shristi group. Mantri property by Mantri, Lodha Imperia, Dev Darshan by Sanghvi builders.Matushri Chhaya by Akruti Group. Balaji Heights by Quality group. These households in these developments will add to the target end users. Raj Embassy- a commercial project with a floor plate of 20,000-80,000 is being developed in Bhandup. Dreamz by HDIL a commercial retail project of 5 Lakh sq.ft.

Vikhroli, Kanjur Marg Commercial (office space) development in this area is by local as well as leading developers of India, attracting companies from IT/ITES sector. Better connectivity to the eastern suburbs as well Andheri towards the western side via the Eastern Express Highway (EEH) and the Jogeshwari -Vikhroli Link Road (JVLR) has led to development of this area. A large commercial development by HCC 24x7 at Vikhroli of approx. 2 million sq.ft is constructed, I-Think IT Park of approx. 2 million sq.ft is developed in phases at Kanjur Marg by Lodha Group, Akruti City has a commercial project at Kanjur Marg. Retail formats like Home Town, Godrej Interio, Next are in this area.




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Mulund This location has been predominantly developed as residential areas with landmark Retail developments. Commercial developments in these locations cater to small corporate and IT/ITES players. Nirmal Lifestyle has developed commercial components as part of its township projects of Nirmal Lifestyle (LBS Marg), City of Joy (near Mulund station) and Nirmal Galaxy (Avior). HDIL has launched a large scale commercial development named Mega structure in Mulund, Mayuresh Shristi Park. Marathon Group commercial and residential projects like Marathon Max etc. Retail formats like D' Mart hyper, Shoprite hyper, PVR Multiplex, Shoppers Stop etc and Malls like RMall and Nirmal Lifestyle dominate the retail scenario. Ghatkopar, Vidya Vihar Ghatkopar which is traditionally developed as a residential location has new projects like Runwal CapitaLand ,Kalpataru Aura, Kukreja, Skyline , Kohinoor City, Neelkanth and experienced very few commercial developments. R City Mall is a big mall development & Raheja Plaza is one of the few commercial projects developed in Ghatkopar.

Powai The “Lake city of Powai “has integrated townships such as Hiranandani Gardens , Raheja Vihar and residential projects like Nahar Amrit Shakti, Sun City Pluto, Sun City Mars, Sun City Neptune, Shimmering Heights by GHP group, Raj Grandeur by Rajesh builders. Retail formats like Haiko Supermarket, D’ Mart Supermarket, Westside, Ozone, and eateries like Chili’s, Papa John’s, and KFC are prominent retailers in that area.




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1.3 Catchment Mapping

Situated on the main LBS Road, Neptune Magnet Mall is within

� 2 Mins from Bhandup Station

� 4 Mins from Kanjur Marg Station � 8 Mins from Eastern Express Highway � 10 Mins from Mulund Station � 13 Mins from Powai � 15 Mins from Ghatkopar Station � 30 Mins from Intl. Airport � 40 Mins from Domestic Airport




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Trade Area Analysis




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Primary Catchment The Primary Catchment is within 0-15 minutes drive to Magnet Mall. The areas are:

� Bhandup � Kanjur Marg � Mulund � Powai � Vikhroli � Ghatkopar

Therefore the primary catchment of Neptune Magnet Mall is strategically situated amidst the densely populated Mulund, Ghatkopar and Powai areas

Secondary Catchment The Secondary Catchment is within 15-30 minutes drive. The areas are:

� Thane � Vidya Vihar � Kurla � Chembur � Intl. Airport

Therefore the secondary catchment of Neptune Magnet Mall is the densely populated Thane, Vidya Vihar and Chembur areas besides being close to the International airport. Tertiary Catchment The Tertiary Catchment is within 30-45 minutes of drive time. The areas are:

� Sion � Santa Cruz Airport – Domestic � Jogeshwari � Goregaon

Therefore the tertiary catchment of Neptune Magnet Mall is the thickly populated Sion Santa Cruz, Jogeshwari and Goregaon areas, and within 45 minutes of the domestic airport.




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Summary Bhandup is poised to be the next residential and commercial hub after Thane & Mulund, mainly due to its “central “location and excellent infrastructure. • Strategically located amidst excellent catchment of Ghatkopar (15 Mins) to Mulund (10

Mins) and Powai (10 Mins), not to forget a few minutes’ drive from Bhandup, Kanjur Marg and Vikhroli.

• Primary catchment population is in the region of 34 lakhs and the income profile is mainly a SEC A & B combine estimated at 38 % as per secondary data.

• The Target catchment has a good combination of businessmen and professionals with a high blend of nuclear families and youth.

• Proximity to IT parks, Corporate and Commercial hubs like HCC 24x7, Akruti Corporate Park, Rajesh Commercial etc thereby changing the location dynamics.

• Near to Residential projects like HDIL , Great Eastern Gardens , Marathon, Neptune, Mayuresh, Kukreja, Sai Radha, Nirmal Lifestyle , Lodha, Vikas Paradise, Ekta , Hiranandani Gardens, Raheja Vihar, Nahar Amrit Shakti etc.

• Immense future potential due to proposed further conversion of Industrial parcels to Residential and commercial hubs.

• Huge concentration of youth due to presence of 55 educational institutions in vicinity

Conclusion On the basis of our study, its analysis and our in-house expertise, there is clearly a compelling need for Entertainment, Amusement and varied Food options coupled with a differentiation in a mall tenant mix and zoning to cater to the immediate catchment. Therefore the need of the hour is to initially create a “destination” primarily for food, entertainment & fun coupled with a selected assortment of relevant aspirational brands blended with a regional/local flavour which lend freshness to the mall. Since Bhandup lacks organized retail activity, the retail development on the subject site would act as a “Magnet” attracting people not only from Bhandup but also from the surrounding suburbs (Ghatkopar, Vikhroli, Kanjur Marg, Powai, and Mulund).

Credits, Source & References:

� Jones Lang LaSalle Megraj Report - March 2009 for Neptune Group � Knight Frank Report Real Estate Report 2009 � Interface by Beyond Squarefeet™ Advisory Pvt. Ltd. � India Retail Report 2009




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Report Compiled by:

Beyond Squarefeet™ Advisory Pvt. Ltd.

Neptune house, 3rd floor, Karma Stambh,

L.B.S. Marg, Vikhroli (W), Mumbai - 400 083, INDIA

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F: 91. 22.4215.5314

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Neptune Magnet Mal Catchment Analysis