Continental Signature, Sector 17, Nerul (East), Project Review/Due Diligence

Continental Signature Nerul: Project Analysis, Inventory & Buyer Guide.
(Independent buyer-side guidance. No developer affiliation).

Continental Signature, a premium redevelopment project by Sacvir Realtors LLP (Continental Group), is transforming the skyline of Sector 17, Nerul. This project replaces the old Jimmy Park (1) CHS, which was declared a dilapidated C-1 category structure after an accident in 2022.

Project Core Parameters

• Location: Savitri Bai Phule Marg, Sector 17/19, Nerul, Navi Mumbai.

• Plot Area: 2659.78 sq. m..

• RERA Status: Registered (No. P51700077334).

• Completion Date: RERA possession set for December 31, 2029.

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Inventory Breakdown: Sanctioned vs. Rehab

The project is a mix of units for original society members and open-market sales. While marketing materials suggest a much taller tower, official sanctioned documents provide specific unit counts.

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Carpet Area Discrepancy: Legal vs. Marketing
Note : Claiming carpet area as larger than declared in RERA documents is illegal and invites a penalty from RERA.

There is a notable difference between the technical carpet areas in official sanctioned plans and the larger areas advertised in builder brochures.

According to the Second Schedule of the draft agreement for sale, the common area amenities and facilities for the Continental Signature project are categorized as follows:

Common Areas and Facilities in Relation to the Building

• The Building Infrastructure: The portion of the plot on which the plinth of the building is constructed.
• Essential Service Lines: Common service lines for electricity, water, and drainage.
• Access Areas: The lobby of the building and the staircase.
• Rooftop: The terrace on the top of the building.

Facilities Located Throughout the Building

• Water Storage: A common water tank located on the building terrace.
• Utility Networks: Common plumbing and electric wiring networks throughout the building.
• Connections: Necessary public water, telephone, and light connections.
• Structural Elements: The foundations, main walls, columns, beams, girders, and beams of the building.

Restricted Common Areas

• Floor Access: Lobbies located on each of the upper floors that provide access to the stairway from the specific units are designated as restricted common areas for those respective floors.

Additional Common Amenities from Approved Plans

While the legal schedule focuses on core infrastructure, the Approved Layout Plans and Architect’s Certificate (which are incorporated by reference into the agreement) specify several lifestyle amenities designated as common facilities:

• 6th Podium Level: Swimming pool, kids’ play area, amphitheater, fitness center, indoor games area, creche, and a society office.
• Infrastructure: A pump room, meter room, fire room, and security cabins.
• Parking: Podium parking levels (1st through 5th).
• Safety Features: Fire lobbies and a refuge terrace (located on the 7th floor).
• Sustainable Systems: Rainwater harvesting tanks and an organic waste converter (OWC).

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Vastu Compliance by Flat Number

The developer markets these residences as “3 BHK Vastu-Compliant” or “Vastu Friendly”. Based on standard Vastu principles often applied to the project’s layout (3 flats per floor):

• Units 01 & 05: Typically positioned for East-West cross-ventilation, often preferred for entrance Vastu.

• Unit 03: Generally centrally located near the lift lobby; specific compliance depends on the internal kitchen and master bedroom placement, which the brochure claims is optimized.

• General Note: Marketing specifically highlights master bedrooms with “bath tub provisions” and “grand size private decks” designed to follow natural light paths.

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Pricing and Exclusive Offers

The project positions itself in the luxury segment with significant “spot” incentives.

• Base Pricing: Units start from ₹2.35 Cr onwards, with all-inclusive packages ranging up to ₹3.24 Cr for the 1153 sq. ft. configurations.

• Booking Discounts:

    ◦ ₹2,50,000 to ₹2,75,000 off for spot bookings.

    ◦ “Early Bird” offers and Jodi flat options are available on request.

• Payment Plan: Standard Construction Linked Plan (CLP) with a ₹2 Lakh EOI (Expression of Interest) amount.

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Vital Details & Red Flags

• Floor Discrepancy: Sanctioned plans mention Ground + Podium + 10 Floors, but marketing brochures explicitly advertise a G+24 Storey tower.

• Litigation: There is a pending Writ Petition (WP/7841/2023) in the Bombay High Court concerning the project but it has not yet been admitted by the court and has most probably been abandoned by the petitioner before admission hearing.

• Finance Charge: The project is mortgaged to AU Small Finance Bank. All buyer payments must go into the designated RERA Collection Account.

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