The Pimpri Chinchwad Municipal Corporation (PCMC) on Tuesday identified 6,720 beneficiaries through draw of lots for its housing scheme for people falling in the economically weaker section (EWS).
The draw of lots took place at Ankush Landge auditorium in Bhosari. The PCMC has uploaded the list of beneficiaries on its website, www.pcmcindia.gov.in.
The PCMC is constructing 13,250 houses under the Jawaharlal Nehru national urban renewal mission (JNNURM) scheme for people in the EWS category.
In the first phase, 6,720 dwellings are supposed to be handed over. The first phase of the project is being implemented on a plot of 75 acres in Sectors 17 and 19 given by the Pimpri-Chinchwad New Township Development Authority (PCNTDA).
The PCMC had received 14,032 applications for the dwellings in Phase I. Pimpri-Chinchwad municipal commissioner, Ashish Sharma, said the 6,720 beneficiaries have to pay Rs50,000 within 45 days as the first installment.
The initial cost of each flat under the scheme was Rs 1.5 lakh, but later went up to Rs3.76 lakh due to cost escalation.
“The civic officials will verify whether beneficiaries possess any properties and if found, the names of such beneficiaries will be withdrawn from the list,” he said.
The beneficiaries will be allotted any of the flats in the EWS scheme. After the hand-over of the flats, a society will be formed.
In 2007, the Union government gave primary approval to the PCMC proposal to implement the EWS housing scheme for JNNURM, estimated to cost Rs449.7 crore.
I recently attended the 2nd Annual Affordable Housing Conference in Kuala Lumpur from July 25–27, 2011. As a Pune developer, this conference was an eye-opener for me. More than anything else, the experience reaffirmed my belief that the affordable housing projects coming up in the PCMC area are a major step forward for Pune real estate.
Experts from various real estate and housing finance verticals attended the affordable housing conference, and there was a notable representation from India as well. Of course, we all know that there is a shortage of affordable housing in India. However, I had no idea of large the national housing deficit actually is till I heard some of the facts and figures.
During the course of discussions, it became clear to me that we are still very far from the final ideal – a home for every Indian. The shortfall in housing is far too large. The estimated housing shortage from 2007-2012 in India’s urban areas is 26.5 million units, and in rural areas it is 47.4 million units. Altogether, the total housing shortage in India stands at 73.9 million units.
Let us ask ourselves some basic questions. Do we have the land, construction material and labour required to build affordable housing? We obviously do, otherwise even the costlier homes that are coming up everywhere in our cities would not be possible. The need is not for housing in remote, inaccessible areas. In today’s economic scenario, everyone – regardless of social and income grade – needs to live as close as possible to their place of work.
Everyone needs to be able to get to work and earn an income, so that they can sustain their families and contribute to the overall development of his or her city. However, affordable housing is mostly coming up in remote locations. These locations lack the kind of connectivity and infrastructure that make living there feasible and dignified. Even middle-income families are challenged to find homes within budgets of Rs. 25-40 lakh.
Obviously, attaining the dream of a home for every family is still far in the future for many cities of India. Thankfully, the nation is moving ahead rapidly in all respects. The affordable housing conference also outlined the fact that we now have newer concepts and technologies at our disposal that can indeed help us close at least a part of the existing gap.
In cities like Pune, there is an ever-increasing responsibility on planned real estate development areas like Pimpri-Chinchwad. While many of the other areas which are adding housing stock still lack the necessary infrastructure, PCMC has all the advantages of a regulated real estate market – including rational residential property rates. The integrated townships coming up here are the perfect blend of social and civic infrastructure as well as affordable prices.
Since Pimpri-Chinchwad also has a sizeable manufacturing belt, there is no shortage of employment opportunities. Here, then, is the only possibility for affordable housing for the mid-income sector that Pune has at its disposal. More than ever, I am convinced that this is where the action of the Pune real estate market is headed. Affordably priced residential property is and will remain the most important real estate sector in India.
Anil Pharande is President of CREDAIPCMCand Chairman ofPharande Spaces, a leading construction and development firm that develops township properties in thePCMCarea of Pune, India.
This article may be reprinted with proper attribution to the author and a link back to PunePropertyBlog.com
It is human nature to prefer a finished product. One can apply this truth to various areas in life. We lack the faith to trust that something in the process may be of greater benefit than something we can see in the full glory of completion. This fact is also the basis of many counter-productive real estate purchases.
It is certainly tempting to purchase a residential property that is in a state of total completion. All that needs to be done is the signing of a cheque. The thought of investing in a property that is still under construction clashes with our need for instant gratification.
The above term is a cunningly devised advertising tool that appeals to something we all share – the desire to possess. Instantly. No waiting, no effort involved, just sign the dotted line and show off your acquisition to envious friends and associates the very next day.
By giving in to it, we place ourselves at the mercy of the builder. We are forced to agree with his idea of aesthetics, colour schemes, brand of fittings, layout and his idea of a fair purchase price. Buying a ‘ready possession’ property may make sense if it is required for immediate occupancy, but it is rarely a wise move from the point of view of investment.
This term appears to be a less promising one. It implies a state of incompleteness, which translates into ‘No Instant Gratification’. The desire to ‘possess’ will have to be toned down. You will feel less inclined to invite your friends to view an untidy site strewn with construction rubble… where is the glamour?
This is a classic example of tunnel vision. We fail to see the forest for the trees and do not take the long view. The inherent benefits of investing in an ‘under construction’ property far outweigh those of ‘ready possession’. Let’s look at some of them:
Every builder knows that a home buyer has to exercise restraint and patience while investing in an incomplete property. This knowledge reflects in the property rates the builder quotes. ‘Under construction’ properties cost significantly less than finished ones.
THE POWER OF CHOICE
With a little vision and imagination, you can see precisely which flat will best suit your needs. In an ‘under construction’ scheme, you will have lots to choose from. Direction of sunlight, best view, ‘Vaastu’ parameters, general ambience and ‘feel’… these are factors you can choose for yourself.
FLEXIBLE PAYMENT SCHEDULES
A property under development is not an immediately marketable asset. Builders can only hope to dictate inflexible payment schedules in the case of ‘ready possession’ properties. On the other hand, they are invariably open to negotiation at the ‘under construction’ phase. In other words, you can often ask for payment schedule that best suit your needs.
SCOPE FOR MODIFICATION AND CUSTOMIZING
There isn’t much you can do to change the physical characteristics of a finished flat or shop. The walls are in place, the choice of windows and bathroom fittings has already been made, and no space provisions for that extra Sintex tank may exist. In an ‘under construction’ flat, you can give specific instructions for modification without incurring extra expenses.
Apart from the lower property rates, easier payment terms allow you to plan a more effective investment strategy. Also, the ability to choose specifications helps you to value-add to the property. This translates into better returns on completion.
PLANNED INTERIOR LAYOUT
You can optimize space and layout for future convenience. For example, lofts and storage space can be included at this stage.
There will still be many circumstances that warrant the purchase a ‘readymade’ property, but consider the above pros and cons before doing so.
Pharande Spaces is the most established and respected construction company in Pradhikaran, the potential-laden boom sector of Pune’s PCMC area. Specialists in quality residential projects, Pharande Spaces also have township properties in the choicest parts of Pimpri-Chinchwad Business District. Two ongoing projects that are generating a huge amount of interest are the integrated townships Woodsville at Moshi and Celestial City at Ravet.
Pune real estate is all about new growth. Unlike neighbouring island city ofMumbai, Pune is not hemmed in geographically, and such growth is indeed possible. Pune’s urban growth is steadily advancing into its peripheral areas. Meanwhile, Pune’s sister city ofPimpri Chinchwadhas been seeing its own real estate boom under the auspices of the PCNTDA (Pimpri Chinchwad New Township Development Authority).
One of the most exciting new Pune real estate destinations for homebuyers is Ravet, which is situated on the North-West side of Pimpri Chinchwad. Ravet is an area that aptly showcases how seriously the PCNTDA is taking planned urban development.
As a residential property purchase as well as property investment destination, Ravet has several advantages in terms of location and infrastructure. Also called the Gateway to Pune, Ravet is the first area to greet those who come in from the Mumbai-Pune Expressway. In fact, Ravet is also where the old NH4, the Katraj-Dehu Road bypass and the Mumbai-Pune Expressway meet. However, this incredible accessibility from the financial capital is not the only factor that makes Ravet so important from a real estate point of view.
Two of the primary demand drivers for residential real estate in Pimpri-Chinchwad are its industrial clusters and the Hinjewadi IT Park. Both of these generate a massive amount of employment at all levels. Ravet is located at an equal distance from both these workforce hubs. Also, it has excellent educational institutions in the immediate vicinity – including the prestigious Mercedes Benz School, the Indira Institute of Business Management and the D.Y. Patil College.
Ravet is also where the most prestigious residential township properties in the Pune-PCMC belt are now taking place. Township properties are becoming increasingly popular because they have re-introduced the concept of community-based neighbourhoods. Healthcare, educational facilities and shopping are all readily available in these projects. In sharp contrast, homes in smaller projects have far less to offer.
Moreover, the investment value of integrated township properties increases much faster than that of smaller projects. The appreciation is higher because these follow premeditated development plans that encompass open spaces, communal amenities and common areas. This means the overall value of the location does not decrease because of uncontrolled developments and compromised infrastructure.
In fact, since integrated townships have their own infrastructure, they are not overly dependent the local municipal corporation. They have their own sewage management, water supply and overall maintenance facilities as well as their own security, which assures homeowners in integrated township projects of much higher levels of safety for themselves, their families and possessions.
In Ravet, integrated townships such as Celestial City by Pharande Spaces are conceived and executed on the basis of a thoroughly researched master plan. This means that construction parameters are completely standardized – unlike in unplanned residential localities, where divergent construction ideologies and standards often prevail. The standardization of construction parameters in integrated townships allows for uniform appreciation of property values.
PUNE: The path has been cleared for the 24×7 water supply pilot project in Pimpri Chinchwad, to be implemented by the municipal corporation in association with a French company. The civic standing committee on Tuesday approved a proposal for a revised Memorandum of Understanding (MoU) with the company.
The project will be implemented in one area of the township. Pravin Ladkat, executive engineer, water supply department, PCMC said, “The pilot project will be implemented in a zone with 3,000 to 5,000 water connections. The pilot zone is yet to be identified. The project will take nine months for completion.” He said, “The PCMC had signed a MoU with the French company Suez Environment in October 2010 to improve the water supply in the township. The project was to be implemented at a cost of Rs 6.3 crore. The proposal was sent to the state government for approval and later to the union government’s Urban Development Department.
It took almost four months to get the department’s approval.” Later, some changes were proposed in the implementation plan. The PCMC will have to spend money on purchasing equipment like leakage detectors, valves and bulk meters. As a result, a new MoU is being signed, officials said. Suman Pawale, chairperson, standing committee, said the panel also approved the short notice resolution to hold weekly bazaars during Diwali to sell goods produced by women Self Help Groups at the Bhakti Shakti chowk and Madhukar Pawale ground in Nigdi.
The committee also approved resolutions for laying water pipelines in the newly developing areas of Punawale village at a cost of Rs 1.11 crore, and laying a main pipeline from the Elevated Storage Reservoir (ESR) in the Elpro compound to improve water supply to Chinchwadgaon and nearby areas at a cost of Rs 74.66 lakh. A resolution to beautify a road divider on the Aundh-Ravet Road from Sai chowk to Dange chowk, at an expenditure of Rs 60 lakh, was also approved. Development projects with a total expenditure of Rs 7.4 crore were approved at the meeting on Tuesday.
Much has been said about Pune properties lacking the benefit of adequate greenery. It is true that rapid and uncontrolled urbanization is reducing the greenery within the Pune Municipal Corporation more and more. A lot of NRI IT professionals returning to Pune from abroad express shock at how much the city has become ‘concretized’.
One of the prime drivers of Pune real estate used to be the city’s erstwhile green cover. It therefore comes as no surprise that more and more Pune property buyers are choosing residential township properties in the Pimpri Chinchwad Municipal Corporation. The green cover in the PCMC area is intact and in fact flourishing despite the real estate boom happening there.
The reason for the difference between central Pune and the PCMC area as far as green cover is concerned is simply scientific, controlled development. The PCNTDA (Pimpri Chinchwad New Town Development Authority) has ensured that real estate development does not compromise the bountiful flora and fauna in Pimpri-Chinchwad.
‘Pimpri Chinchwad is a rapidly developing industrial and commercial centre in Maharashtra, India. It is one of the primary centres for the automobile industry cluster in India, and nearby Pune is a education centre commonly referred to as the “Oxford of the East”. The area is known for its busy commerce, plethora of industries, fine educational institutions, and a rapidly growing middle class and standard of living.
However, this rapid growth has created problems with infrastructure, affordable housing and the environment. The PCNTDA was established to tackle these issues and has a purview that extends over Mulshi and Haveli taluka.’ (Source: http://pcntda.org.in/)
The PCNTDA long ago recognized that without sufficient trees and other forms of greenery, the life of residents in any area becomes melancholic and depressive. Moreover, it took into consideration the fact that trees do a lot to neutralize the effects of urban pollution. Ensuring the presence of sufficient greenery is one of the foremost defenses against environmental, economic and health risks.
Reputed developers of township properties in Pimpri-Chinchwad have also taken into account the need for trees and other vegetation. In PCMC, integrated township projects such as Woodsville in Moshi and Celestial City in Ravet are rich with trees, shrubbery and other forms of greenery. In these projects, homeowners can still benefit from healthy, green, natural surroundings while also having all the advantages of modern city life at their disposal.
A green homes environment makes a huge difference in terms of health, quality of life and overall wellbeing. Adequate tree cover also brings down air temperature significantly (reducing in savings on electricity) and protects the land from erosion. As a result, these township properties in PCMC have a much longer lifespan.
Does it come as a surprise that Pune property buyers are increasingly favoring residential township properties over options in the central city? This phenomenon is not restricted to Pune real estate alone. All over the world, there is a rapidly increasing exodus of people congested city centres to better-planned, greener and more peaceful outskirts. People are tired of the deteriorating living conditions in the city, which also give rise to grave risks to health, damage the environment and reduce the investment value of properties.
Maybe it’s time that you offered your family the advantage of healthier, greener home surroundings, too?
Pune: The Pimpri Chinchwad Municipal Corporation (PCMC) launched its ‘Green Building Initiative’ on Saturday. The initiative was inaugurated by PCMC commissioner, Ashish Sharma and mayor, Yogesh Behl at the Auto Cluster, Chinchwad.
On the occasion, Behl said buildings had a major impact on the environment in terms of depletion of natural resources due to building materials, enormous energy consumption and wastage of water during and after construction and pollution of urban air. Thus emerged the need for green buildings to benefit the environment and to provide a better place for the occupants to live and work in.
Sharma said, “The PCMC has always been proactive in taking steps towards better living environments for urban dwellers. It is now the first municipal corporation to make a conscious effort towards its responsibility towards natural resources and the impact on society by incentivising green rating for integrated habitat assessment — Griha — rating system in their jurisdiction.”
The Energy & Resources Institute (Teri) developed Griha jointly with the Union ministry of new and renewable energy, which is suitable for all types of buildings. This rating system not only takes care of energy conservation, but also looks into water and waste management. Association for Development and Research of Sustainable Habitats (Adarsh) is mandated to promote development of buildings in India through Griha.
By this initiative of incentivising Griha-rated green buildings in PCMC area, there will be savings in potable water usage, waste water treatment and solid waste management.
Property owners in green buildings will be benefited by reduction in pollution related to air, noise, soil and water. There will be savings in energy consumption. The developer will get the discount in premium amount of building permission charges as per the rating awarded by Griha. There will be a discount of 10% in property tax for end-users. The developer can seek fast track environmental clearance through Griha pre-certification, added PCMC environment department officials.