Prescon Midtown Bay

• The land is MCGM's, developed under an SRA 33(10) slum scheme; the advocate's 2021 report reads the title clear and marketable.
• You hold a long SRA/MCGM lease, not freehold.
• Conveyance to the society is now legally due - with about 84% of the homes sold and the Occupation Certificate in (June 2026), the promoter's window to form the society and convey (roughly three months after OC) is running.
• The one catch specific to an SRA scheme: what the society actually receives is the SRA/MCGM head-lease, which vests only once the whole scheme, including the north rehab building, is signed off - so ask for the society-registration date and whether that head-lease is in hand or still waiting on the rehab.

• One loose end: a Rs.40 crore mortgage was registered in July 2024 (Regn 15484/2024), yet the portal says 'no encumbrance' and a later declaration says none.
• That is most likely ordinary construction finance now discharged - but there is no charge search on file to prove it, so ask for a current CERSAI/satisfaction search.

• This is a completed building: full Commencement Certificate in March 2025 and full Occupation Certificate in June 2026, against an original target of December 2027.
• On an SRA scheme, where delivery usually turns on rehousing obligations, that is a strong outcome - the delivery risk that dominates most such projects is simply not here.

Four RERA complaints exist (two already resolved, two heard in 2026) - normal post-handover service/possession disputes, not a completion risk.

• Filings are up to date through 2026 and the project is marked Completed.
• A few portal quirks to note - the parking table renders all-zeros, the Commencement Certificate table renders blank, and the promoter's CIN differs between the portal and the letterhead - but the underlying documents are complete.

• The marketing that matters - a delivered, sea-facing Prescon landmark - is true, and 'Prescon' is simply the group's project SPV, not a laundered name.
• The one stretch is the unit labelling: homes of ~365-580 sqft carpet are marketed as 2.5/3BHK (the brochure pairs them to 730/1140 sqft).
• Right location, right view, compact homes.

• West is the money direction and the Arabian-Sea view there is genuine, not a render.
• The only thing interrupting the blanket sea view is the stalled Shristi Sea View tower (~30 floors, currently stuck); if it ever completes it will take a bite out of the aspect, so it is a threat to watch rather than a present wall.

• West: real, open sea view - best on the upper-mid floors and above
• North: walled by the project's own rehab building (~69 m) up to about the 20th floor; clear above
• South & east: open over sub-10-floor neighbours, with railway noise on the east
• The high podium (first homes ~+39 m) lifts even lower flats over most low-rise Mahim

• The typical floor puts 12 compact homes around a large central core of eight passenger lifts plus a service lift and two fire stairs.
• That much core on a compact plate costs usable efficiency - the layout works out around 69%, below the portfolio's better plates (Nautilus ~74%, Trilogy ~81%).

• With twelve homes to a floor, the lift lobbies are true common area shared by all - not carved out as any one flat's 'exclusive' foyer - and each home has its own small entrance foyer inside its carpet.
• So there is no unownable 'exclusive-use' area dressed up as private, and none of the multi-flat lobby-grab risk that bites elsewhere.

• The registered rate works out around Rs.57-58k per sqft of carpet - above Mahim's base range, because this building sells on its sea view.
• The premium is backed by a real view, but you are still paying a full price for a compact home on leasehold land.
• Whether a cash component sits alongside the registered price is unconfirmed.

• Unlike many SRA schemes, the rehab building sits on a separate plot to the north - the sale plot carries only the 298-home sale tower.
• So there is no rehab-in-your-compound density; what you get instead is a compact, homogeneous tower of small homes (twelve to a floor).

• Close in: the adjacent rehab building to the north (footfall and density), the Western Railway to the east (noise), the Mahim creek to the west and north, and - the daily grind - a single narrow access lane off the Sitladevi temple road, shared with other buildings and parked on both sides.
• The wider Mahim location is well-connected; the last hundred metres are the constraint.

Roughly 18 minutes at a weekday late-morning to the nearest Bandra-Worli Sea Link entry - moderate coastal-road access for a Mahim address.

Every kitchen sits on the outer edge of the floor with a utility service slab beside it, so cooking air has a real path outside. No sealed, recirculation-only kitchens.

• Eight passenger lifts (plus a service/fire lift) serve the tower - a big lift bank for a 35-floor building - giving an estimated peak wait around 19 seconds, an A grade.
• Lifts will not be the daily frustration here.

• As a completed, occupation-certified building the water and drainage were signed off to get the OC.
• We could not read the sanctioned water/No-Objection Certificate unit count against the agreement count from the folder - a routine buyer-question rather than a live worry.

• There are enough bays - 430 for 298 homes (1.44x), including 84 big-car spots and visitor parking - and you self-park (no car-lift dependence).
• The catch is the climb: a single ramp winds up roughly thirteen basement-and-podium levels with no car lift, so an upper-deck bay means real time on the ramp.
• Push for a low deck near the lift core, and check whether a private-bay EV charger is allowed.

Rexray's database will, over time, be enriched with the attention to detail and quality ethos of each builder. For now, below is the checklist you should verify with the builder before you decide.

• The homes cannot be combined into larger flats, so the building stays uniformly compact - a plus for a consistent, homogeneous community (everyone in a similar home), a minus for anyone wanting to scale up later.
• At ~Rs.3-3.3 crore for a compact home, expect an end-user-upgrader and investor mix.