PCMC’s Integrated Townships: Redefining Traditional Luxury

– Anil Pharande, Chairman – Pharande Spaces

Indian luxury real estate is in rapid evolutionary mode, and few of the previously accepted definitions of a luxury home have stood the test of time. For luxury home developers, the challenge has shifted from offering a number of attractive add-ons to providing a well-rounded residential experience that transcends luxurious exteriors, interiors and amenities.

Luxury townships are the obvious answer to the questions today’s buyers are asking. They are not looking for mere glamour – because of the mounting challenges of urban life in cities like Pune, they are also looking for superior infrastructure, cutting-edge security and project management and a walk-to-work option. These are obviously not an option in standalone luxury buildings – nothing less than a fully integrated luxury township can provide such advantages.

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A number of Indian developers who previously specialized in traditional luxury residential projects – one or two snazzy buildings in a tony part of town where ‘address value’ accounts for a massive price premium – have therefore shifted their focus to the township format. This is because luxury living in today’s context is a 360-degree lifestyle equation which cannot be limited to elegant superficialities.

The buyer profile for integrated luxury townshipspuneville is also different today. These are not HNIs hailing from families with protracted histories of wealth – they are young, self-made entrepreneurs, the corporate upper management cadre and high-placed Information Technology professionals.

This new breed of luxury home buyers is not swayed by impressive addresses and the other factors which dictated how luxury was interpreted in the past. They are looking for the aspects that spell genuine luxury today – convenience, safety, reliable water and electricity supply, modern recreational facilities, on-the-spot availability to essential services like hospitals, schools and shopping, and good internal and external connectivity.

punevilleThey will not spend their hard-earned money on an expensive location but invest in a superior living experience for themselves and their families. Moreover, the traditional CBDs of cities like Pune are no longer the areas which yield the most lucrative jobs – the IT and manufacturing hubs in modern satellite cities like the Pimpri-Chinchwad Municipal Corporation (PCMC) are the next employment hotbeds which are driving both the demand and trend for high-end homes.

This luxury home buyer demographic is highly tech-savvy and environmentally conscious, and attributes a lot of value to ‘smart’ and ‘green’ features – not only at a residence level but at a project level. Again, this is only possible in integrated townships, and this is what has spurred the growth of PCMC’s ultra-modern townships over the last decade.

These townships offer their residents:

  • Broad, well-lit internal roads
  • 24×7 water and electricity supply
  • Multiple user parking per unit
  • Multi-level security
  • Green open spaces
  • Conveniences  such as shopping malls, banks, schools and hospitals within the project
  • Easy connectivity to other parts of the city
  • Modern recreational facilities

The best integrated townships also include high-grade commercial spaces and give residents the ultimate luxury – the walk-to-work option. Obviously, this new definition of luxury living provides a stark contrast to the traditional concepts of luxury homes, which was usually tied to a vanity address in an exorbitantly pricey location. Though older luxury buildings in the core areas of cities like Pune are invariably redeveloped into luxury skyscrapers, there is nothing that can be done about the fact that the locations themselves are cramped, polluted, devoid of support infrastructure and often hemmed in by slums and tenements.

While the window view from a luxury home in such a setting is usually one of chaos and urban decay, the corresponding view from a home in an integrated township is one of greenery, orderliness and unpolluted air. No wonder, then, that the younger and smarter generation of luxury home buyers today prefers the benefits of contemporary luxury far away from such areas. Integrated townships are their obvious choice.

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.

Pimpri-Chinchwad Among Most Popular Cities On The Internet

– Anil Pharande, Chairman – Pharande Spaces

In a recent discussion with the Times of India group, some interesting trends came to light. With 121 million Indians currently logged in on the internet, and this number is growing at the rate of 25% per annum. More and more Indians are logging in and relying on the Internet to meet their needs for information, help them access goods and services, scout for jobs and look for homes and investment opportunities.

The internet has revolutionized the way Indians perceive their world and consume news and information about it, and the rapid growth of smart phone use in the country has only boosted this trend. According to a recent report by HSBC Global Research, India – India’s smartphone penetration stood at just 30% last year, will by 2019 account for 12% of the global smartphone market with a whopping penetration rate of 65%.

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Obviously, media houses like the Times Group have not lost any time in harnessing India’s promising online market. Times Internet, the Times Group’s flagship internet brand, is also India’s largest Indian online group. Naturally, it draws a massive amount of online traffic, and lays claim to over 6.5 billion page views per month. Indiatimes.com alone accounts for 5 million visitors every single month.

Considering that the internet has become the fastest and most trusted medium to reach consumers of real estate, developers will take such statistics very seriously. Over and above other information which is of great interest, real estate developers want to know the demographics of online visitors, and which areas job seekers – who are of course potential real estate buyers – are investigating online.

According to sources at Times Internet, 85% of the monthly visitors to their sites are graduates and 40% of these are post-graduates. 19% of these visitors have an annual income of over Rs. 7 lakh per year. But more interesting than this are the online traffic details for India’s leading cities, because these details reveal which cities potential home buyers are most interested in.

Also, according to the latest statistics available from the Times Group’s indiatimes.com, the Pimpri-Chinchwad draws a mind-boggling monthly traffic of 658273 visitors on. In fact, PCMC ranks among the top 10 cities in terms of search rankings on the Internet. On TOI.com, Pimpri-Chinchwad ranks 4th after Mumbai, Bangalore and Delhi, with 21.7 million views per month. In comparison, Pune ranks 9th with only 5.26 million viewers per month.

Online visitors are interested in the PCMC for various reasons, the first of course being job opportunities. This stands to reason, because in terms of job creation, PCMC is significantly ahead of Pune and most other cities in Maharashtra with the exception of Mumbai. The combined employment generated by the Hinjewadi IT Park and the MIDC manufacturing belt has made PCMC a focus area for fresh graduates seeking to build their careers.

PCMC is also among the most prominent search terms for online home hunters. Buyers are attracted by the prospects of living close to their workplaces, the superior infrastructure in PCMC, and the more attractive property prices when compared to most regions in the Pune Municipal Corporation.

The highest number of online searches for real estate within the region are for properties in Puneville, Moshi, Ravet and Chakan, as these areas offer fast access to PCMC’s primary employment centres and also offer superlative returns on investment. Another key terms which features prominently in online home searches are for integrated townships, for which PCMC has extremely famous.

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.

Six Reasons Why People Buy Luxury Homes

Anil-Pharande

Anil Pharande, Chairman – Pharande Spaces

At given point in time, and regardless of economic conditions and other market variables, there will always be people who are not content with just any kind of home. As a result, the demand for luxury homes in India may rise and fall – but it never goes entirely away.

It is driven by the rising standard of living and increasing disposable income among successful entrepreneurs, high-flying corporate executives and software professionals, and the wealthy scions of traditionally wealthy families. They want more than just four walls and a parking slot.

What lies beneath? Is it just the thirst for the good life, or perhaps nothing more than the play of people who have too much money in their hands? Not quite. Indian luxury home buyers have sound reasons for why they want to live in premium rather than ‘normal’ homes:

  • Status Aspiration

Buying a luxury home is a matter of prestige – and why not? After all, most luxury home owners have bought their pride and joy with hard-earned money. They want to live in homes that announce their arrival, and offer a higher lifestyle rather than just a postal address.

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  • Comfort

The very latest of today’s luxury homes provide all the modern comforts – and an ideal environment for living and raising a happy family. These homes are built to take care of the needs of a comfortable lifestyle. Features like swimming pools, themed, landscaped gardens, gyms, meditation centers, manicured lawns, electronic security, touch-button responsive fixtures, and entertainment and shopping available at close hand all contribute towards making the living experience more comfortable and enjoyable.

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  • Security

One important feature of luxury homes is that they have very high security. They have top-of-the-line security, both in terms of trained security personnel and security installation that guarantee safety. Further, accidents and medical emergencies can be quickly taken care of with immediate response triggered by technology, and the availability of hospitals and emergency rooms close at hand.

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  • Technological Enablement

Technology and IT innovation have gone a long way to make the living experience in high-end luxury homes extraordinary. From solar generators to remote controlled window shutters, everything is directed towards meeting the demands of homebuyers looking for an ultra-modern lifestyle.

 

  • Better Neighbors

The benefits of housing one’s family in a luxury apartment do not only extend to conveniences. Luxury housing projects are also seen as the perfect environment for one’s children to grow up in and the adults to socialize in. After all, such projects basically form a society with a certain degree of culture, education and beliefs – in short, better neighbours.

  • Investment Value

The increasing demand for properties in India rivals that of gold. Real estate and gold are the most traditional forms of wealth investment in India. However, properties present the advantage of being an asset that rises in value at every instance – and it is also a ‘performing asset’, meaning that it serves a practical purpose even as it gains in value. Given the fact that luxury homes are always in demand even on the secondary market, HNIs correctly see them as the perfect investment opportunity that guarantees multiplied returns in the future.

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.