Infrastructure And its Correlation to Home Buying

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Anil Pharande, Chairman – Pharande Spaces

In India, as in other countries, it is a simple fact that localities which are as close as possible to important workplace areas will be most consistently sought out by people looking to buy homes. Therefore, projects with great connectivity by railway and road, see the highest demand for residential properties.

Property investment is always driven by the infrastructure in and around a locality. From sufficient roads to reliable water supply and drainage, infrastructure includes all the physical characteristics which contribute towards creating sustainable communities. Unsurprisingly, property costs close to infrastructure including airports, railway stations and roads are higher than in other regions.

If a location does not offer reliable electricity and water supply, connectivity, public transportation stops and sanitation by ways of good sewerage and waste disposal, it will not work as a residential destination regardless of what else it offers. All these are services that nobody living in a modern Indian city is prepared to live without.

From a property marketplace outlook, sufficient infrastructure in an area includes everything that leads to an easier, convenient lifestyle which does not have to contend with any kind of shortages, service outages and breakdown of public facilities.

Well-planned roads and public transport

Roads are required to make transport quicker and simpler. They are important right from the time when basic infrastructure and initial real estate development are being put in place, as raw materials and labour has to be able to reach the location. Once the area is established, roads let people travel to and from work, for kids to get to and from school and for access to shopping and entertainment.

Proper planning of road, rail and public transport nodes is very important. The key factor to be kept in mind during this planning is that people do not want to too close to bus depots, railway stations, shopping areas and industries businesses – but neither will they wish to be too far away from them.

Reliable supply of essential utilities

In a developing country like India, there are still many towns and suburbs of cities that do not enjoy reliable water and electricity supply, garbage management and public security features. With the income of typical Indian families constantly growing, today’s urban homeowners are willing to spend more to get access to seamless water and electricity, and adequate security.

Naturally, residential complexes that provide 24×7 water and electricity supply and round-the-clock security are far now highly favored. This is what has led to the growing momentum of township development in Pune and even more so in PCMC. Housing projects in places that don’t have reliable utilities and where security is a concern do find takers – but these are usually exceptionally budget-strung buyers who resign themselves to having to wait for everything to fall in place at some stage.

Sanitation infrastructure

In India, there has been rising awareness of the minimum levels of sanitation that a household should have access to. A new location will only start attracting real demand from homebuyers if it offers appropriate measures of sanitation such as municipal road cleaning, trash removal, sewage and waste water disposal, and other related services. Without these services, life becomes unhealthy and intolerable. A location’s score on the sanitation front is a very important criterion for homebuyers who are shortlisting housing projects in which to buy a property.

Social infrastructure: Schools, hospitals, shopping and recreation

Indian families put great onus on the availability of schools in a residential neighbourhood. This is why areas with good schools in the vicinity fetch higher property rates than most others. This is not only a question of convenience for Indian parents, but also of the safety for their children. Because of life’s uncertainties and the rise in road and domestic accidents, hospitals are another component in an area’s social infrastructure that is of critical concern for homebuyers. They expect quick access to medical facilities –  this is non-negotiable.

Recreational open spaces such as parks are also consistently in favour from city dwellers that wish to experience nature to some extent, and thereby be able to find some refuge from the urban madness that rules most of their days. A locality that offers water bodies, gardens, parks and playgrounds in the vicinity are considered premium.

Developers of large integrated townships are aware of how important the availability of good social infrastructure has become, which is why they include gardens and artificial lakes as well as schools, shopping and entertainment inside the project premises for their residents.

Infrastructure in all its facets is therefore hugely important in today’s residential property scenario, and it directly influences the buying behavior of Indians scouting around for homes. The degree to which social and civic infrastructure is available in a neighbourhood dictates how successful a residential destination is today.

This is why integrated townships have become the most important trend on the Indian property market today. Townships are not dependent on how proactive the municipality and private sector players in deploying social and physical infrastructure. They deploy it themselves in perfectly-contained microcosms that not only include residential projects but also office and retail complexes as well as educational and healthcare facilities.

Integrated townships ensure that their residents have everything they need for a modern comfortable and secure lifestyle accessible within easy reach, for instant use. The high demand for township properties in rapidly urbanizing cities like Pune and PCMC vouchsafes the fact that homebuyers are no longer willing to compromise on the advantages of sufficient infrastructure in their neighbourhoods.

About The Author:

Anil PharandeAnil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

A Review of The PCMC Property Market in 2016

– Anil Pharande, Chairman – Pharande Spaces
 
As the new year dawns, India’s real estate market has begun navigating the potentially choppy seas of 2017 with a lot of uncertainty. When it comes to the past year, it is safe to say that nothing went as anticipated for the property market. The hoped- for recovery in the residential sector did not happen, and the Government’s unexpected demonetisation move in early November put paid to any chances for a last-minute turnaround.
 
Robust economy: Through the entire gamut of churn and setbacks in 2016, only one city’s real estate market managed to hold its own and even achieve some modest growth. West Pune, with its dominant market PCMC (Pimpri-Chinchwad Municipal Corporation), has always been a unique as it rides on an unbeatable trinity of residential demand drivers – manufacturing, Information Technology and the services sector. This equation has perennially acted like a healthily diversified investment portfolio, with the inherent strength of one or two of these sectors compensating for the occasional de-growth in the others. As always, this factor came to the rescue of the PCMC residential market.
 
Employment still drives housing demand: While the manufacturing sector in PCMC has always been robust thanks to the MIDC belt, continued growth in IT and the various services streams additionally ensured that the employment graph remained strong. With job creation continuing to drive the demand for homes, Pimpri-Chinchwad Municipal Corporation crossed the finish line of 2016 ahead of the other major cities – with room to spare. Though the demand for prime and luxury housing has remained somewhat subdued, budget and mid-income housing saved the day. If anything, 2016 amply illustrated that the middle class in Pune and PCMC has become extremely choosy about its home purchases.
 
Unsold inventory: Many of Pune’s peripheral areas – the hot investment favourites of 2014-15 – saw a depressing build-up of unsold supply even in completed projects. The lack of support infrastructure and known deficiencies such as inadequate or non-existent water supply put paid to many a developer’s hopes of selling his stock solely on the basis of enticingly low rates and freebies.

Of course, every large city in the country has its share of unsold inventory today, either because of muted market sentiment, the fact that a lot of supply is still in the early stages of construction, supply in the wrong locations, or unrealistic pricing of certain projects by developers. In the case of West Pune, most of the non-selling oversupply has been in locations lacking infrastructure. In PCMC, the supply overhang is largely from smaller developers without a good track record and credibility on the market.
 
Evolving buyer preferences: Diwali, the traditional period for increased home purchases in Pune, saw very few takers for inferior projects in inferior locations. Even the prospect of acquiring larger homes than their current ones did not draw mid-income buyers to lagging locations. On the other hand, there was a distinct uptick for smaller but ‘high-performance’ homes in properly connected areas. The accent was on a high degree of facilitation within such projects.
 
Price corrections: With 2016 bringing a slow but steady erosion of property pricing in most of its markets, some of the previously unaffordable locations in West Pune / PCMC have once again become attainable to homebuyers. If Budget 2017-18 brings the hoped-for benefits for first-time property buyers and the RBI rolls out lower interest rates, there is every reason to expect a major revival in home buying sentiment – and it is the superior locations which will see the highest demand.
 
Outlook for 2017
 
The trend of the real estate market in Pune and PCMC performing against the larger odds will definitely continue. Not only do the twin cities have all the right economic and demand drivers firmly in place, but their inclusion in the 100 Smart Cities program will only increase the interest from multinational companies to set up and expand operations here. This will, in turn, increase inward migration and fuel greater demand from investors, even as local end-user demand continues unabated.
 
While the bulk of demand today comes from end-users, investors are still very much a force on Pune’s property market. The city offers several budget bandwidths and property typologies into which one can invest. Well-timed and properly researched real estate purchases can reap very satisfactory returns.
 
However, it should be borne in mind that not every kind of investment pays off equally in Pune – one needs to know precisely how each sub-market works, what it responds to and where the demand is headed. A poorly-judged property investment can be a disappointing proposition. Particularly, investors need to be wary of the cheap, potentially illegal ‘gray market’ residential constructions happening on the outskirts.
 
About The Author:
 
Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

PCMC Beats Pune To Rank Among India 10 Cleanest Cities

– Anil Pharande, Chairman – Pharande Spaces

The verdict by Swachh Survekshan 2016, a survey undertaken by the Ministry of Urban Development February 15, 2016 to monitor how far the Union Government’s Swachh Bharat Mission has progressed, was an eye-opener for India. While the multiple award-winning Pimpri-Chinchwad Municipal Corporation ranked 9th on the list of India’s 10 Cleanest Cities, Pune – administered by the Pune Municipal Corporation, did not make it to the Top 10 list at all.

punawale_pharandeAltogether, the Swachh Survekshan 2016 survey studied 73 cities having populations of 10 lakh or above, and focused on aspects such availability of public and private latrines, the efficiency of services delivery, solid waste management and infrastructure development. Always at the forefront when it comes to providing a healthy, wholesome life to its residents, PCMC had in the recent past added to its solid waste processing capabilities via a new garbage depot.

This mechanised plant processes 500 tonnes of garbage into compost useful for agriculture on a daily basis. Moreover, PCMC has set the national trend in its progressive and scientific management of landfills, as well as its initiative to turn waste plastic into energy.

Another variable which the Swachh Survekshan 2016 survey focused on was the effectiveness of communication in the identified cities, specifically their citizens’ access to information and education, and the civic authorities’ proactive approach to in Behaviour Change Communication (BCC). BCC is a very important interactive function via which a city’s governing authorities communicate with the city’s population to ensure that initiatives to help the city to grow and prosper are understood and adopted.

bannerWithout a doubt, PCMC has been consistent in upholding its promises to provide the very best living standards to its residents. Therefore, the fact that it has been numbered in the 10 Cleanest Cities of India comes as no surprise. The Pimpri-Chinchwad Municipal Corporation is a veritable masterpiece of urban planning, driven by an unrelenting focus on infrastructure, sustainability and future-readiness. It offers a sharp contrast to the confused and retrograde approach being followed by the Pune Municipal Corporation, which has not been able to deliver on the functions and aspects that make a city worth living in.

The fact that PCMC has been able to come out a winner on the list of India’s 10 Cleanest Cities is all the more remarkable if we consider that this region is home to the thriving MIDC industrial belt, as well as the Hinjawadi Infotech Park. These hubs are among the country’s most prolific employment generators, causing countless new skilled professionals to make PCMC their home every year.

Despite the immense complexities this presents to the city authorities, PCMC has consistently risen to the challenges and continues to provide people from all walks of life and income segments with a wholesome, healthy environment to live and work in. It has been able to do this is by encouraging the development of integrated townships and ensuring that all real estate development happens with strict compliance to its town planning norms.

In PCMC, open spaces and green ‘lung’ pockets are available in every sector to control pollution and provide citizens with places to meet and relax, and wide roads and over/underpasses allow for free-flowing traffic. Water and electricity supply is several times more reliable than in the Pune Municipal Corporation, and highly efficient civic sanitation services ensure that all residential and commercial zones are kept clean.

Thanks to these factors, there is no doubt that PCMC will move further up the rankings over the next few years. In the meantime, it will continue to focus on maintaining its well-deserved reputation for being the best region in the country for people to work, live and prosper in.

About The Author:

Anil PharandeAnil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

PCMC Real Estate By 2025: Looking Into The Future

– Anil Pharande, Chairman – Pharande Spaces

Pimpri Chinchwad Municipal Corporation (PCMC) is internationally known and acclaimed for its progressive and sustainable approach to real estate development. The model of urbanization that PCMC follows is known as ‘planned development’, which means that real estate is developed according to a Master Plan. Today, the real estate sector in PCMC is renowned for its New Age residential configurations such as integrated townships, which have become the most preferred option among home buyers.

While Pune also has a thriving real estate market, it cannot compare to what is happening in PCMC because the Pune Municipal Corporation (PMC) does not follow a planned approach to real estate development.

In fact, Pune is very likely to become a smaller version of Mumbai over the next decade. This is because infrastructure in both these cities is only addressed retropsectively, and not not proactively like in the PCMC. Because of the planned urbanization happening here, the Pimpri-Chinchwad Municipal Corporation is already being seen as the City of the Future.

PCMC By 2025

urbanization

Over the next decade, PCMC will have reached its fullest potential. Obviously, it will look very different from what we see today. It will have grown into a harmonious montage of large industrial units, IT Parks, hotels, shopping and entertainment plazas, educational institutes and healthcare facilities – all against a backdrop of massive public parks and gardens, and crisscrossed with multi-lane roads and flyovers.

At least another 25,000 acres of land will have been added to the PCMC jurisdiction by2025, and this will eventually result in the addition of at least 2 million new homes. These homes will cater to every social stratum of property buyers, from the lower to the high-income segments.

HORIZONTAL AND VERTICAL EXPANSION – CREATING A SPECTACULAR SKYLINE

There will be tremendous – yet controlled – horizontal real estate growth in Pimpri Chinchwad over the next decade. Most spaces allocated for residential use will have been utilized for that purpose. But this will not result in an urban jungle, since the PCMC planning blueprint will enforce the maintenance of vast green spaces at all stages of development.

punawale_pharande

By 2025, almost all residential areas in PCMC will have become self-sufficient real estate developments. The PCNTDA (Pimpri Chinchwad New Town Development Authority) has charted a regulated, progressive and environment-friendly course for real estate development in PCMC, and I expect that integrated townships will have become the default configuration.

In fact, the addition of 25,000 acres will not suffice for this region’s real estate development over the next decade. This is because the PCMC will have to accommodate a massive demand for housing. The population growth in PCMC over the last 25 years has been almost ten-fold (from 200,000 to 2 million), and it will cross 50 lakhs (5 million) by 2035.

On the one hand, there will be a huge requirement for homes from the rapidly growing manufacturing sectors of Pimpri-Chinchwad and the Chakan-Talegaon belt. Chakan itself, though a burgeoning industrial hub, has little to offer by ways of residential facilities. Areas like Moshi, Ravet and Punavale, which are booming today, will have become fully developed and will cater to most of the housing demand.

There will also be massive spill-over demand from Pune City, which will have reached complete saturation point in the next 10-15 years. At the same time, one must also factor in the ever-increasing migrant population from all over the country, attracted as much by PCMC’s excellent education institutions as by the varied career opportunities.

puneville3

This means that PCMC will also grow vertically over the next ten years. More land will have to come within the purview of planned development, and building heights will need to increase from the currently permitted 70 metres – approximately 22 floors plus parking – to 100 metres or more. FSI, which still currently stagnates at 1, will need to be raised to at least 2, or even 2.5.

This means that over the next decade and a half, PCMC will be a skyscraper city on the lines of Gurgaon.

WORLD-CLASS INFRASTRUCTURE

In most cities, such growth would mean serious infrastructure challenges. We have already seen what happens in a city like Mumbai, where skyscrapers are being built without sufficient parking, connectivity and municipal amenities to support them. However, thanks to the master plan that PCMC will always adhere to, the necessary infrastructure will precede the building of high-rises.

I firmly believe that in the next 20 years, the Pimpri Chinchwad Municipal Corporation will serve as a national and even international benchmark for planned, scientific vertical real estate growth.

An essential prerequisite to support this massive growth is an advanced public transport system. With an eye on this future requirement, PCMC has adopted a model similar to Ahmedabad’s Janmarg – a scientifically designed BRT-based public transport system spanning 130 km across 14 routes in PCMC. This system involves 4-lane wide, exclusive roads with grade separators that will reduce the dependence on private transport in favour of more efficient public transport.

This, in turn, will result in smooth traffic flow, less road blocks, radically lower pollution levels and a healthier, energy-conserving environment. To ensure that there are no hitches in the development of this lifeline, the PCMC has established an Urban Transport Fund for its funding.

Another requirement for efficient transport is more connecting roadways. A Ring Road is already on the drawing boards, which will create a hub-and-spoke road network, which will help sustain the enormous increase in vehicular traffic that industrial and residential growth will generate.

However, the Ring Road alone may not suffice to cater to the public transport needs that will emerge over the next two decades. I personally feel that an elevated skybus or monorail network or even an underground rail network will be called for.

A WORLD-CLASS GREEN CITY

PCMC has already spearheaded sustainable real estate development in the region. Green development is the future of real estate all over the world, and many of the bigger residential townships and commercial complexes in the PCMC have adopted the ‘green development’ mantra. Over the next ten years, we will see more and more of developers here taking sustainable real estate development seriously and launching Green Homes.

The Pimpri Chinchwad Municipal Corporation is taking its mission to provide cleaner, greener homes to its citizens very seriously. As of today, there are around 60 registered green buildings completed or under construction in the PCMC. The new PCNTDA building itself is a resounding statement to how important sustainable development has become to the city.

However, this is obviously not enough when we look into how PCMC should look by 2025. In order to see it emerge as a world-class Green City of the future, there needs to be more enthusiasm within the region about the benefits of green homes and workplaces. We need to see more determination by the PCMC to encourage and promote developers who are taking the Green cause seriously.

Permissions for green buildings must be fast-tracked and be given preferential status. Everything that happens in a mighty and progressive municipality like the PCMC should be a benchmark for other regions to follow. The PCMC must be the most determined of all the regions to promote and develop green real estate, so that the PCMC is the clear leader in sustainability by 2025.

INTERNATIONAL CONVENTION CENTRE -THE ULTIMATE GAME-CHANGER

I must also mention  the new 200-acre International Convention Centre at Moshi, which will be fully developed and operational by 2025. By this time, the Convention Centre will be attracting a massive amount of tourism, hospitality and retail development, which will turn PCMC into India’s most thriving urban destination. Global hotel chains will have redefined the hospitality sector, and the shopping centres will be populated by marquee retail brands.

In fact, the next decade will see PCMC being catapulted into the international Big League, giving it a distinct global identity in its own right.

About The Author:

Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings.

Infrastructure: The Key Real Estate Investment Criterion

Anil Pharande, CMD – Pharande Spaces

We keep hearing the term ‘market drivers’ being used in real estate. What are they? Market drivers can be defined as developments in an area that increase the value of living there. It is a well-established fact that infrastructure is by far the most important driver for real estate demand and property appreciation growth.

Infrastructure can take many forms. It includes road development to boost connectivity of a location, civic infrastructure such as dedicated water and electricity supply, public gardens, etc. that increases the quality of living in the area, and social infrastructure such as schools, colleges and healthcare, which result in shorter travelling time to such very essential services.

punawale bridge

Infrastructure must be put in place either before or along with other real estate development. Attempts to put it in place retrospectively create the kind of mess that we can see in many of our cities today. The building of flyovers and road widening are attempted in highly congested areas, disrupting the flow of normal activity and taking ages to be built, causing great inconvenience and massive costs to the city because of the incessant delays.

Building infrastructure is like growing trees – in both cases, there needs to be enough space for them to grow, and sufficient opportunity for a root network to deploy. Without space and depth, neither trees nor infrastructure can grow and flourish. If we take the case of Pune as an example, we can see that building infrastructure as an afterthought to real estate development, rather than as a precursor, does not really work well.

Pune’s haphazard development in the past has not been favourable for decent infrastructure deployment to complement its rapid development on other fronts. Battling severe constraints, Pune’ development authorities are doing their best to counter the ill-effects of unregulated development which has so far been taking place.

Infra

 

We are seeing some good results in building support infrastructure, but the Pune Municipal Corporation is actually a losing battle. This is amply illustrated by the fact that the Pune Municipal Corporation is not able to provide suitable parking, traffic management solutions and utilities supply despite enormous investments.

Guidelines For Homebuyers & Investors

  • The infrastructure of a location is a major focus area for property investors for a very good reason. Real estate investors want to attract end-users, either as rental or purchase clients, to the properties. They know that an area without sufficient infrastructure will be unattractive to their clients, because the quality of living quotient is low.
  • Again, properties in areas without good infrastructure tend to have cheaper property rates for a reason. Developers with projects in such locations know that the area has little or nothing to say for itself in terms of quality of life. The only way they can hope to sell their projects is to offer very attractive rates.
  • Buyers should place infrastructure availability prominently on their checklist while scouting for suitable homes. Road and rail connectivity, water supply, proximity of schools, hospitals and shopping outlets are of paramount importance. Buying a home cheaply if the location does not offer these is meaningless, and will give cause for regret.
  • If one is buying a property purely as a long-term investment and primarily for capital appreciation, one can afford to be a bit philosophical about existing infrastructure. After all, one is not planning to live there and does not expect very fast appreciation. As long as there is a reasonable assurance that it will arrive in the foreseeable future, it makes sense to invest in a property located in an emerging area where infrastructure is in its nascent stages.
  • However, if one is buying the property in order to generate rental income, existing infrastructure is far more important than upcoming infrastructure. People looking for rental options are also looking for a certain ease and dignity of living. They are willing to put the option of buying a home aside so that they can live in a good home in a good location on rent.
  • Where the option exists, give a high preference to townships over all other options. While checking out townships, ensure that they are located in areas which have a good saturation of support infrastructure as well. Most large Indian cities now have township projects coming up.
  • In Pune, the infrastructure-rich Pimpri-Chinchwad Municipal Corporation is attracting the highest number of buyers and investors of township properties. In other parts of the country, Navi Mumbai and the Kalyan-Dombivli and Vasai-Virar belts are becoming important township hubs.
  • In Delhi NCR, the areas to look at for townships are Ghaziabad, Faridabad and Greater Noida. In Bangalore, the growth hubs for townships are Yelahanka and Devanhalli, and in Chennai they include Sriperumbadur, Perambur, the OMR belt and Anna Nagar.

About The Author:

Anil PharandeAnil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

 

 

More Scope For Green Development In PCMC

The PCMC is one of the pioneering regions in the country to embrace the concepts and principles of sustainable development, and I myself have always been a strong advocate for the green way of life.
green-home
The use of green building technology, non-conventional energy sources and sustainable waste water management does not only have a positive impact on the environment but also on the overall quality of our lives. Moreover, adoption of sustainable building and living practices reduce the strain on municipal resources, resulting in significant revenue savings which can then be used to build better infrastructure and provide even more services to the people.

I would like to touch on PCMC’s major thrust towards sustainable real estate development. It is no secret that green development is the future of real estate all over the world. In fact, many of the bigger residential townships and commercial complexes in the PCMC have already adopted the ‘green development’ mantra. Many of the developers active here have started to take sustainable real estate development seriously and begun launching Green Homes.

To date, there are around 60 registered green buildings completed or under construction in the PCMC. The new PCNTDA building itself is a resounding statement to how important sustainable development has become to the city.

Obviously, the Pimpri Chinchwad Municipal Corporation is taking its mission to provide cleaner, greener homes to its citizens very seriously. But I must also add that we still have a long way to go. In my opinion, there is still not enough enthusiasm within the region about the benefits of green homes and workplaces. One of the reasons for this is lack of awareness.

And despite all the progress that has been made, there should be more determination by the PCMC to encourage and promote developers who are taking the Green cause seriously. I still see a great deal of disconnect between developers, agencies like GRIHA, the environment department and the building permissions agencies. Permissions for green buildings should be fast-tracked and be given preferential status. But this is still not to be seen, and it is quite disappointing.

Such disconnect is not worthy of a mighty and progressive municipality like the PCMC. Everything that happens here should be a benchmark for other regions to follow. The PCMC should be the most encouraging and determined of all the regions to promote and develop green real estate. There should be attractive incentives for both developers and consumers of green real estate. Only in such an environment can we hope to see PCMC become and remain the leader in sustainability.

I look forward to an era when this will happen, so that everyone associated with the PCMC can benefit and be proud of its efforts. This is my vision for a better tomorrow for the citizens and all stakeholders of PCMC, India’s most progressive municipal corporation. Jai Hind. Jai Maharashtra.

Anil PharandeAbout The Author:

Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. 

Punawale Now: Taking West Pune Real Estate To The Next Level

Taking West Pune Real Estate To The Next Level
Taking West Pune Real Estate To The Next Level

PCMC: Pune’s New Townships Capital


Anil-Pharande_002Anil Pharande


Townships are more than a new real estate mantra – for the larger cities in India, they are without any doubt the only remaining hope for decent living standards. Gradually but surely, residential conditions in cities like Pune are on the decline, and township properties are gaining increasing significance as the final answer to quality-based living.

In areas like the Pimpri-Chinchwad Municipal Corporation, the ‘Infrastructure First’ approach has preserved and consistently enhanced living conditions for PCMC residents. However, the Pune Municipal Corporation (PMC) has not been able to stay on top of the infrastructure situation. Traffic congestion, air, water and noise pollution and a heedless approach to development have compounded the problems on all levels.

All Eyes On PCMC

The city’s inhabitants are facing major problems with reaching emergency services and educational institutions for their children, and access to adequate parking. In this depressing scenario, the large integrated townships being developed in thriving locations of the PCMC region are the new lifestyle standard. In the PCMC, the township movement first began in areas like Moshi and Ravet, and the region’s leading developers have now launched luxury townships on Spine Road and Punavale as well.

Integrated townships have, in fact, been on the rise ever since they were identified as the most suitable residential solution by the Government’s National Housing and Habitat Policy of 1998. After this policy included townships in its ‘Housing Revolution’ initiative, the Government of Maharashtra had begun actively encouraging the development of integrated townships to reduce the pressure on urban areas and to improve infrastructure in cities like Pune.

However, such projects require large land parcels and these have been all but fully consumed in the core areas of the Pune Municipal Corporation. As result, the focus shifted to the Pimpri-Chinchwad Municipal Corporation, where land availability and superlative support infrastructure make townships a very viable proposition.

Lifestyle Aspiration Driving Demand For Townships

Today, Pune citizens’ yen for a better lifestyle quotient is leading to an increasing demand for systematic and fully-enabled residential formats. The city’s deteriorating living conditions are the prime reason why the Township Revolution is now in rapid spin.

In the integrated township format, the problems are infrastructure deficit and deteriorating living conditions are completely negated. They offer a very high grade of living conditions set to the backdrop of aesthetic environments.

Offering the township-grade facilities in smaller residential projects would involve prohibitive costs for developers – cost which the consumers would have to pay. Thanks to the economies of scale, township developers in the PCMC are providing ultimate lifestyle solutions at far more rational costs. High-quality infrastructure, open spaces and immediate access to all the necessities of daily living result in a superior lifestyle proposition, since all residents in a township benefit from one large integrated and centrally managed system.

Why Township Properties Cost More – And Why It Is Worth It

When developers offer township-grade facilities in smaller housing projects, the costs to consumers is comparable to those of luxury homes. In townships, the vast range of facilities, fully-integrated infrastructure and the availability of schools, hospitals and shopping complexes within the premises means that township properties come at a slightly higher cost than normal multi-storey apartments. However, the additional expense is vindicated by the fact that those who buy into township properties are assured of a vastly superior living standard – not to mention exceptionally higher returns on investment.

For property buyers who simply do not want to compromise on their lifestyle options, the township properties of PCMC are the most obvious solution. The direct advantages include complete security, convenience, the comfort of high-grade infrastructure and various facilities within the premises, and immediate access to retail outlets and recreational facilities. This results in a very high degree of comfort and convenience within a completely cosmopolitan ethos.

About The Author:

Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. 

PMRDA: New Era Of Planned Growth For Pune Real Estate

Anil Pharande, Chairman – Pharande Spaces

The Pune Metropolitan Development Authority (PMRDA), which took up seat in the PCNTDA offices in Akurdi, Pimpri-Chinchwad on May 1, heralds an era of much-needed change for real estate development in Pune. From this point onward, PMRDA will introduce the concept of scientific town planning to every part of the city.

PMRDA

So far, proper town planning had only been followed in the the Pimpri-Chinchwad Municipal Corporation. The entire Pradhikaran belt has been developed by the PCNTDA (Pimpri Chinchwad New Township Development Authority) under strict development guidelines. As a result, PCMC has become a showcase of planned urban development.

The jurisdiction of PMRDA will cover the whole or Pune, including PCMC as well as several talukas such as Maval, Bhor, Haveli, Shirur, Mulshi and Khed which fall in the Pune district. Talegaon Dabhade, Lonavla, and Alandi and also be included along with several outlying villages. For the very first time in Pune’s history, there will be a unified planning and development authority to bring order to the entire district. The model of development will be similar to the approach which PCNTDA has followed to develop Pradhikaran over the years.

PMRDA will develop massive land parcels in a planned manner, areas will be zoned for residential and commercial development and support infrastructure such as electricity, water supply, sewerage and road networks will be put in place. Thereafter, they will be released for development under a newly-formulated development plan (DP) and regional plan (RP) which will replace all previous plans. In the meantime, PMRDA will also eradicate illegal developments. In the future, no construction will take place without complete vetting and authorization by the PMRDA.

This approach to urban development will have a profound effect on real estate in the Pune region. The value of land as well as any kind of built-up real estate will rise considerably, and the region will attract more and more investments from both within and outside the country. PCMC, which is already home to hundreds of global manufacturing companies, will see even more of such industries moving in and setting up operations. This will lead to incremental employment growth, which will bring with it massive requirements for commercial and residential spaces.

In short, Pune will now be able to reach its fullest potential under PMRDA. The local economy is set to boom, and Pune will eventually become the new economic capital of Maharashtra.

About The Author:

Anil-Pharande

Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings.

Anil Pharande In Interview With The Realty Paper

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Anil Pharande, Chairman – Pharande Spaces in interview with The Realty Paper

  • How is the current scenario in the Pune real estate market?

Pune is a powerhouse of potential when it comes to real estate. It is a city of learning and entrepreneurship, and there is a distinctly progressive flavour to everything that happens there. Thanks to the fact that it has become a magnet for IT/ITES and manufacturing companies, the real estate market in Pune is not likely to lose its forward momentum. That said, I always had misgivings about the opportunistic manner in which property development was taking place within the PMC limits, and was far more interested in the holistic approach being adopted in Pimpri-Chinchwad.

  • What are your focal points of a real estate development firm?

In terms of locations, we have so far concentrated on the PCMC area and West Pune. My passion for real estate in PCMC has its reasons – the idea of being involved in the raising of a planned city on the lines of Chandigarh, so close to Pune, excited me. My primary objective has been to help steer the path of this planned development, which is why I got involved with CREDAI. Getting into the creation of township properties that would take the best advantage of the benefits that the PCMC offered in terms of superior infrastructure and phased real estate growth was the next logical step.

  • When was Pharande Spaces established?

Pharande Spaces was started in 1994 with negative capital. We launched purely on bank borrowings and goodwill.

  • Where are you most involved in the development of projects?

Since I come from a technical background, I have always placed great emphasis on employing the latest construction techniques in our projects. Our primary focus is on high-quality, visually aesthetic and lifestyle-oriented township projects that are environmentally sustainable and add to the grandeur of Pune’s real estate landscape.

  • Is Pharande Spaces involved in any other business verticals?

Apart from residential real estate, we are already into the manufacture of non-conventional energy equipment as well as distribution and power transformers. We have also forayed into the construction of malls and multiplexes. As already mentioned, we have so far concentrated on PCMC and West Pune, but are now firming up plans to expand into Goa as well.

  • Were you impacted by the slowdown in the real estate market?

Along with all other real estate development firms, Pharande Spaces faced all the ups and downs of the real estate market. We did not incur losses during the downturn, but we certainly did not experience much growth during the phase. Thankfully, the slowdown is now over and demand for quality housing is back with in force.

  • How many residential townships have you built till date?

We have built more than 25 residential projects to date, which include large integrated residential projects and two fully integrated townships.

  • L-Axis was Pharande Spaces’ first ultra-luxury township. Could you tell us more about the latest township you announced?

L-Axis is definitely one of the largest luxury projects we have launched. More recently, Pharande Spaces launched Puneville, a one-of-its-kind ultra-luxury township at Punavale in West Pune. The project is being developed on the 50-acre plot of a de-notified SEZ. The location in the heart of West Pune is literally perfect, being one kilometre from Wakad and with ready access to Aundh and Hinjewadi and further on to Lonavala and Mumbai via the Pune-Mumbai Expressway.

Puneville is a top-of-line luxury residential project designed on the lines of a luxury resort by Aedas, the global award-winning architects who have master-minded Venetian style hotels in Las Vegas and Macau as well as the Financial Centre in Shanghai and Marina Bay Sands at Singapore. Aedas ranks second among the world’s top architectural firms and will bring its full expertise to bear on Puneville. This project is by far the best in the country and incorporates every conceivable luxury feature, and outshines anything so far seen in residential real estate in Pune.

  • How do you view the real estate business at a personal level?

I am passionate about what I do, but have to admit that this business literally leaves no spare time at all. Relaxation is not even a factor.

  • Do you family members complain about your constant non-availability for them? This is a known syndrome among successful developers…

Quite possible, but I haven’t heard the complaints because I’m constantly on the phone.

  • Where do you and your family go for vacations? Do you have any favourite destination?

We have explored the world, mostly in context with my constant search for architectural inspiration for our projects. During these trips, my family members certainly enjoy themselves. We are particularly fond of Turkey, Singapore, Malaysia, Greece and China.

(As featured in: The Realty Paper)