Catchment Area Analysis

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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

Catchment Area Analysis for Neptune Magnet Mall

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Catchment Area Analysis

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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Catchment Area Analysis

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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Catchment Area Analysis

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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Catchment Area Analysis

Trade Area Analysis

Catchment Area Analysis for Neptune Magnet Mall

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Catchment Area Analysis

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.

Catchment Area Analysis for Neptune Magnet Mall

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Catchment Area Analysis

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
T: 91.22.4215.5315
F: 91. 22.4215.5314
info@beyondsquarefeet.com
www.beyondsquarefeet.com

Catchment Area Analysis for Neptune Magnet Mall

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