No Evening Water Supply In PCMC On July 8

PUNE: There will be no water supply to some parts of Pimpri-Chinchwad Municipal Corporation (PCMC) limits in the evening on July 8.

The pumping of water at the phase I of water supply scheme will be kept closed for conducting emergency repairs in the pump-house of the raw water pumping station at Ravet and repairing of valve located opposite Jijamata hospital in Pimpri. Pumping of water will remain closed from 10 am to 6 pm.

The residents of Nigdi Pradhikaran’s Sector 18 to 28, Krishnanagar, Nehrunagar, Yamunanagar, Sant Tukaramnagar, Morwadi, Ajmera colony, Masulkar colony, Dapodi, Pimpale Gurav and other areas will not receive evening water supply on July 8. The water supply to these areas may be at low pressure in the morning on July 9.

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Pimpri Chinchwad Municipal Corporation Finalises Eye Bank Proposal

PUNE: After the cancer hospital plan coming through, the Pimpri-Chinchwad Municipal Corporation has now finalised the setting up of the first eye bank of the twin industrial township.

The administrative proposal will come up before next Tuesday’s standing committee meeting. The eye bank will be set up at Aditya Birla Hospital in Chinchwad. The eye bank would be first of its kind in Pimpri-Chinchwad. Currently, if a person has to fill up the eye donation form, he has to go all the way to Pune from Pimpri-Chinchwad.

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4.5 Acres Of Land In Mumbai’s Mulund Surburb Sold For Rs 200 Cr

MUMBAI: Kalpataru Builders has purchased 4.5 acres of land in a busy Mulund area for close to Rs 200 crore in one of the biggest real estate deals in the suburbs here, a source said. The total land area is a little over 1.5 lakh square feet with a floor space index (FSI) of 2, the source said.

The land owner, Schrader Duncan Ltd, had shifted its automotive plant from Mulund to Ranjangaon, in Pune, in 2009, where commercial production has already started.

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Pune Takes Its Cue From PCMC – Grade Separators For City Soon

Taking cue from neighbouring Pimpri-Chinchwad, the Pune Municipal Corporation (PMC) has drafted a proposal for grade separators at two of the busiest junctions in the city.

To tide over traffic problems, grade separators in the city has been proposed at Sancheti Hospital junction and S G Barve junction near Modern Cafe, both in Shivajinagar, at a cost of Rs 25 crore. A grade separator divides roads into higher or lower levels to ease traffic flow. Pimpri’s three grade separators have decongested roads to a large extent.

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Pune Apartment Rental Vs Buying A Dream Home In Pradhikaran

You may think that buying your dream home in one of Pune’s latest integrated residential projects is beyond your capabilities. However, the fact is that it is easier than ever to get a home these days.

Pune Property

Most lending agencies and banks are now extremely liberal with providing home loans. In other words, even if you do not have a lot of actual cash to put down, you can still get the home of your dreams.

Many people think that buying a dream home is a tough process – that it calls for a large down payment. This is not always the case. Buying a home largely depends on your budget and also the location you choose.

If you consider the Pune properties for sale in the central parts of the city, you may certainly find them unaffordable. One look at the Pune property rates in 2010 will confirm that. However, if you consider buying a residential property in Pune’s adjoining PCMC, you get not only affordability but also a vastly superior deal.

Home loans for purchasing a dream home in one of these ultra-modern integrated residential projects are readily available. The down payment you make on this dream home purchase will go towards your overall purchase.

The more money you put down at the outset a home when you purchase, the lower your monthly payments (or EMIs – equated monthly instalments) will be.

If you don’t own a home right now, you probably live in a rental house or apartment.  This is certainly an option, but you are still paying money towards your housing that you could instead be putting towards a home of your own.

These days, renting a Pune flat will cost you just about as much as payments towards a home loan for a property in PCMC’s Pradhikaran would – and this, of course, makes no sense at all.

Maybe you should consider converting your monthly rental payments towards a small Pune apartment into monthly instalments towards your own spacious dream home in the Pimpri Chinchwad Municipal Corporation.

There is no shortage of banks who will offer very easy terms and interest rates on a home loan. In fact, the high competitiveness on the Pune home loan market gives you an edge – you can choose a loan plan that’s best for you.

There are various routes you can take to get a home loan. Most Pune developers have tie-ups with leading banks to make the process as pain-free and convenient as possible for their customers. Real estate agents can also be used to obtain a home loan – they can also be very useful when it comes to getting a great deal on the home, at prices that are right for you.

As long as you plan your budget and take things a step at a time, you’ll be closer than you think to actually owning the home of your dreams. You have the possibility of owning a fully-facilitated home at Pradhikaran, an area blessed with natural beauty and superior infrastructure.

It is time to reflect on just how much sense it makes to continue paying rent towards a far smaller home in a congested area of Pune.

Anil Pharande is President of CREDAI PCMC and Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in the PCMC area of Pune, India.

You may reprint or quote this article with full credit to the author and a link back toPunePropertyBlog.com

Photo credit draconianrain

Home Buying Tips: Considerations For Indian Homebuyers

Pune Property

There is a school of thought that states that you should buy a home as soon as you can afford it, or as soon as your home loan application is approved. In fact, the only question one tends to ask in context with home buying is whether property prices and interest rates are amenable at that point in time or not. On the surface, this makes sense. However, not all surfaces are reliable mirrors.

From an investment point of view, buying a house is often likened to buying gold and putting it in the bank. That is true to some extent. Investments in real estate, historically, have given very good returns, if held for a long period. In other words, buying property today does make a certain amount of financial sense.

Buying a house means security, and security is important to any family of any generation. It is one of the few long-term investments with practical utility – after all, you’re not going to put the flat in a bank while it appreciates in value. You’re going to live in it. But the fact that investment in property needs time to pay off good returns should be kept in mind.

Before utilising your loan or putting your own money down, calibrate the options well to judge whether your investments today will yield desired results before you plan to sell off. With the social structure in India decaying slowly, there are a host of factors that need to be kept in mind before making such a huge investment.

Work Profile

The reason why a home loan company digs so deep into the nature and situation of a client’s job is that they need to gauge how reliable a risk he is. There are certain classes of jobs that inspire more confidence due to the stability they offer to the employee.

This stability is not judged by the take-home income but by potential consistency. Therefore, if you are applying for a home loan, it would be best to make a personal evaluation. If you are a frequent job-hopper, suffer from poor health or have a long history of dismissals, you would do well to set your career situation in order before applying.

Even if your application is accepted, how well are you equipped to pay the EMIs (equated monthly installments)? With the loan granted, you could avail of it more productively when things are a little more stable on your professional front.

Peripheral Expenses

Another factor to consider is the peripheral expenses. To begin with, if you are using the services of a real estate broker, you will be liable to pay him a certain amount of money once the deal is finalised. There are also various legal formalities, including property and registration taxes. Are you in a position to take care of them as and when they arise?

Family

There are both practical and less definable reasons for assessing your marital situation before contemplating the purchase of a home. A shaky or distressed marriage is definitely not conducive to making four walls into a home. The contemporary Indian mind assumes that marital problems will automatically get ironed out once the decisive step of buying a home is taken. The facts state differently, but that is not the point. Let us consider the purely financial point of view.

Many couples take out joint home loans. When a marriage is stable, this does have many advantages. When it is not, the consequences can be quite disastrous. Payment of EMIs in case of separation or divorce can become a major legal issue. Even in the case of outright purchase, actual ownership of the property if the marriage dissolves will be the subject of dispute. Hoping that buying a home will set a disturbed family situation right is akin to hoping that water will miraculously flow upwards if the right kind of pipe is installed.

Cultural Roots

Yet another reason to think long and hard before actually investing in a residence would be sudden geographical change. One major mistake repatriating NRIs usually commit is to buy a home arbitrarily, without considering the possible culture shock.

The fact is that they have spent a minimum of five years in a foreign country, which means that they have assimilated that country’s culture and adopted a certain lifestyle. Such a culture and lifestyle may be hard to replicate in India, no matter how progressive the city of choice is.

The same feeling of alienation and displacement can overwhelm property buyers who decide to settle down in an unfamiliar city or even state, without familiarising themselves with the new area of location.

Finally, the financial investment angle. If you ask a financial consultant about whether the time is ripe to buy a residence, he will probably raise only one point – will you be able to keep the property long enough to make it pay as an investment?

All of these factors are worth thinking about before actually taking the plunge of buying a home.

Mohammed Aslam is head (Pune) at Jones Lang LaSalle Meghraj.

This article is reprinted from the report, A House Of Your Own: Are You Ready To Buy?, published in The Indian Express.

Pimpri Chinchwad Municipal Corporation Gets Land For Cancer Hospital

PUNE: Finally, the major hurdle in obtaining land for the proposed cancer hospital of the Pimpri-Chinchwad Municipal Corporation (PCMC) has been overcome as the irrigation department has agreed to give eight acre of land to the municipal corporation.

State minister for water resources, Ajit Pawar, made this announcement at a function in Pimpri on Saturday when he laid the foundation stone for the flyover at Kasarwadi. The land will be used for the proposed cancer hospital as well as for setting up a sewage treatment plant.

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Pune Real Estate: Scaling New Heights

While the global economic slowdown of 2008-09 had some impact on the Indian economy, Pune’s realty market remained virtually unscathed.

It is an acknowledged fact that in the last one decade Pune has seen an enviable escalation in realty. The rise in construction activity has been widely attributed to Pune’s new face as the emerging IT hub of India following at the heels of ‘over crowded Bangalore’ and beating Hyderabad that has recently been overwhelmed with the Telengana issue.

“Pune is the safest, most stable and most rapidly progressing realty market,” says Mr Shashank Paranjape, Managing Director of Paranjape Schemes, a city-based developer.

“From 2001 onwards, the city witnessed a phenomenal growth. But it was only in 2003-04 that the Pune realty market actually took off,” explains Mr Satish Magar, promoter of mega township Magarpatta and Chairman, Pune chapter of Confederation of Real Estate Developers’ Associations of India.

“While IT is still the major driving force behind the real estate market, the demand and growth has also been fuelled by other industries. Pune also has more favourable conditions for living as Mumbai and Navi Mumbai are now largely unaffordable and saturated,” he says.

According to Mr Magar, Pune has four growth engines — IT, auto, educational and migration. “Migration to Pune from rural Maharashtra is on the rise due to the excellent demand for skilled and unskilled labour, leading to the growth of the city,” he emphasises.

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PCMC Real Estate: Nashik Phata Flyover Work Starts After 6 Year Delay

NCP chief Sharad Pawar had performed the bhoomi pujan six years ago; project touted as the first multi-layer flyover in the state. Six years after its bhoomi pujan, construction of the Rs 99-crore World Bank-aided Nashik Phata flyover finally got cracking.

District Guardian Minister Ajit Pawar laid the foundation stone of the bridge which will fly over rail, river and road. It is being touted as the first multi-layer flyover in the state.

Speaking on the occasion, S K Lohiya, officer on special duty (OSD), Ministry of Urban Development, said, the Nashik Phata flyover is the first project of the Central Government in the country under the Sustainable Urban Transport Project. “11 cities were selected for the project. While Pimpri-Chinchwad was the last to join the project, it has become the first to implement it,” he said.

PCMC Real Estate: Spine Road To Be Ready By End Of Year

PUNE: By the end of this year, the twin township of Pimpri-Chinchwad will have a new 10-km-long tarred road connecting the Mumbai-Pune highway and the Pune-Nashik highway.

Called the Spine road’, it is being developed by the Pimpri Chinchwad New Township Development Authority (PCNTDA) at a cost of Rs 70 crore. Besides connecting the two highways, the road also cuts through the industrial, residential and commercial areas on the eastern side of the township and is expected to reduce traffic snarls witnessed on the smaller roads.

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