Chandak's Unicorn project in Andheri West sells 70% of its inventory

Unicorn, a new project by the Chandak Group located on Veera Desai Road, has successfully sold 70% of its inventory since its launch during the Covid pandemic in June 2021. This commercial building, known as Unicorn Andheri, features premium A-grade office spaces and is designed as a Ground Plus 12 storey structure.

The office units in Unicorn Andheri range from 419 sq.ft to 1,700 sq.ft of carpet area, with each floor plate covering approximately 15,700 sq.ft on a freehold land plot of about 1.33 acres. The project is strategically positioned to benefit from the upcoming Metro connectivity between Dahisar West and Andheri West, which is expected to significantly enhance accessibility in the area.

Impact of Upcoming Metro Connectivity

The introduction of Metro services is anticipated to transform the commercial landscape of Andheri West. Currently, the residential catchment areas between Andheri West and Dahisar West lack direct Metro access. Once operational, the travel time from Dahisar West to Andheri West is projected to be around 40 minutes. Furthermore, many offices along Andheri Link Road will be within a 10-minute walk from any Metro station, making this an attractive location for businesses.

Features of Unicorn Andheri

• Ground Plus 12 storey commercial building
• Floor-to-ceiling height of 12.1 feet
• 13 elevators for efficient movement
• Close proximity to the Apple Showroom

Investment Potential

Unicorn Andheri is positioned as an ideal investment opportunity for those seeking fixed income. The minimum investment required for the smallest unit is approximately ₹1.39 Cr plus applicable stamp duty and GST. With lease rental returns expected to exceed ₹175 per sq.ft of carpet area, this project aims to fill the gap in the market for A-grade commercial inventory in Andheri West.

Market Overview

Our listing data indicates that Andheri West currently has 1,629 active sale listings, with a median asking rate of about ₹40,000 per sq.ft of carpet area. This suggests a competitive market for commercial properties, highlighting the significance of Unicorn Andheri as a new entrant.

Practical Takeaway

For potential investors, Unicorn Andheri presents a promising opportunity in a rapidly developing area. With the anticipated Metro connectivity and the limited availability of new A-grade office spaces, this project could serve as a lucrative investment option in the Mumbai commercial real estate market.