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.

 

 

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.

Pune Has More Potential For Real Estate Growth

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

Pune property market is a lot more conservative than Mumbai, and there is certainly a market-dictated cut-off point for price escalations, says Anil Pharande, Vice-President of CREDAI Pune Metro and Chairman of Pharande Spaces, a leading construction and development firm that concentrates on township properties in the Pimpri Chinchwad Municipal Corporation (PCMC) area of Pune.

Excerpts…

From technocrat to leading builder…. How did this transformation happen?

I was very interested in what was happening in Pimpri-Chinchwad back then. The idea of being involved in the raising of a planned city on the lines of Chandigarh, so close to Pune, was an exciting prospect. The Pimpri Chinchwad New Town Development Authority (PCNTDA) had taken on an ambitious and laudable task. My first objective was 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.

Can you give us an overview of Pune’s reality market and its growth prospects?

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. Having said that, 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 is the impact of the price upheavals of metropolis Mumbai on Pune’s realty market?

There is doubtlessly an impact, since a lot of cash-rich buyers from Pune are looking at Pune both as a property investment and retirement home option. The level of demand from Mumbai tends to exert a certain upward pressure on property prices in Pune. However, the Pune property market is still a lot more conservative than that of Mumbai, and there is certainly a market-dictated cut-off point for price escalations.

Do you think that the dismissal of a few big builders from CREDAI over non-compliance will affect the body’s advocacy on transparency?

Not at all. Every administrative body must experience occasional churn in order to maintain its vision and to stay flexible and open to new avenues of progress.

About your ongoing and upcoming residential projects…and future expansion plan?

Woodsville in Moshi is virtually a small town within PCMC, spread over 40 acres with vast tracts of open spaces and a very healthy environment. This hugely successful project, which is being developed phase-wise, has been and continues to be a primary focus for us. I’m also very excited about (L)-Axis, which we are launching along the PCNTDA Spine Road. In contrast to our other projects, which cater mainly to the middle-income group, this is a luxury apartments in pune which will have no rivals in Pimpri-Chinchwad.

WoodsvilleApart from (L)-Axis, Pharande Spaces is planning a residential/IT-ITES SEZ project at Punawale, near Hinjewadi/Wakad, Dehu Road-Katraj Expressway bypass. It will encompass 42 acres in the residential segment and 28 acres for the IT Park. The residential part will have apartments, row houses and bungalows.

What is your take on green building concept? Why is it not popular in India compared to West?

There is a lot of change-resistance and no end of misconceptions about green buildings in India. It is taking a long time for developers and buyers to understand the sound rationale behind them. However, I am seeing a definite awakening now, and I am confident that the next ten years will usher in a slow but steady green revolution in Indian real estate.

There is a general belief that affordable housing by private players is a non-starter in India, do you agree?

I completely disagree. A huge amount of affordable housing stock in our cities is created by small private developers who cannot imitate the scale of the larger players. Countless people would still be waiting in vain for the many Government-driven budget housing schemes that are yet to see the light of day if it were not for these private players. Many national players have also made their mark in this segment and consistently delivered.

(As told to KR Iyer (ramanaathan.iyer@sulekha.net)

http://property.sulekha.com/pune-has-more-potential-for-real-estate-growth_news-1093

PCNTDA Turned PCMC Into The Hottest Real Estate Destination In Maharashtra

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

There is little doubt in anyone’s mind that Pimpri Chinchwad is now Pune’s new hotbed for affordable residential property. In fact, the Pimpri Chinchwad Municipal Corporation is one’s of India’s most resounding real estate success stories. PCMC is a planned city, and its development profile has nothing in common with what is happening in the Pune Municipal Corporation limits.

Pune Property

Thanks to the unflagging efforts of the Pimpri Chinchwad New Township Development Authority (PCNTDA), PCMC is now a showcase of outstanding residential areas. The PCNTDA has been vigilant in defending this showcase sister city of Pune from the central city’s unregulated real estate development pattern. One of the hallmarks of this careful town planning is the availability of affordable township properties, which are the best examples of the masterfully planned social, economic and real estate development in Maharashtra.

Those who have never seen PCMC before are amazed at the futuristic look of this progressive city. When it comes to urban planning, the PCNTDA has gone several steps further than CIDCO of Navi Mumbai. Navi Mumbai was Maharashtra’s first planned city, and it certainly began on a good note. However, lack of vigilance by the town planning authorities there soon caused it to fall prey to commercialization. Charles Courier’s initial blueprint was son abandoned, and today Navi Mumbai has become just another extended suburb of unregulated Mumbai.

In Pimpri Chinchwad, however, the PCNTDA was determined to avoid the mistakes which caused the real estate market in Navi Mumbai to degenerate. The blueprint which was adopted was one of uncompromisingly regulated real estate growth, and organized urban planning was the constant watchword. Keeping its focus firmly on the long-term objectives of rational real estate development, the PCNTDA has managed to turn PCMC into a genuine city of the future.

Residents of township properties in PCMC have the unique advantage of owning homes which are near to their workplaces, yet affordable and blessed with green natural surroundings. They live high quality lifestyles and do not have to sacrifice their family’s health to the pollution which defines the inner city. On an average, township property owners is the PCMC spend upto 35% more time with their families than Pune residents, and have up to 40% more living space at the same cost.

The Pimpri Chinchwad Municipal Corporation is truly a prime example of social-minded real estate development. Only here will one find spacious properties at affordable prices, coupled with a modern and efficient transportation system. Only here can one find a multitude of employment opportunities, superior infrastructure and modern, yet very affordable homes close to one’s place of work. And only in the PCMC can one enjoy the benefits of carefully preserved natural splendour.

Thanks to the approach taken by the PCNTDA, the PCMC property market is today seen as the smartest option for residential property buyers from Pune and beyond. Yearly inward migration figures clearly indicate that this city is indeed growing rapidly. The year-on-year appreciation rates of residential property in the PCMC range between 15-20%, and this has also attracted property investors from all over Maharashtra.

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

Put Pune Development Plan On Municipal Elections 2012 Campaign Agenda

With the Pune Municipal Corporation Elections 2012 coming up, the usual spate of election promises by corporators to improve the infrastructure in their respective wards are being made. As positive as these promises are, they miss the larger point – Pune does not need segmented, fractional development.

Election

Piecemeal development is exactly what has been happening all these years anyway. The haphazard development of Pune has followed the usual course of opportunistic urbanization. Certain areas receive maximum attention while others are completely neglected.

The Pune City Development Plan (DP), which now includes 23 villages around the city, was recently approved after a massive delay of six years. If properly implemented, the DP has the potential to give the benefits of proper urban development to Pune’s real estate sector, its economy and to its citizens. The city as a whole needs better, wider roads and traffic management, improved water supply and more hospitals, gardens and playgrounds and open areas.

It is not just some areas being administered to by individual corporators that need to see change – the whole city needs the changes that will make life easier for its citizens and contribute towards more rational growth. The patchwork improvements that are being promised will not help Pune to develop scientifically, rationally and beneficially. A closer look at neighbouring Pimpri-Chinchwad would reveal just how much can be done for a city if its policy makers adopt a unified and holistic approach to development.

While Pune continues to stagger under the pressures of infrastructure deadlock, the Pimpri Chinchwad Municipal Corporation (PCMC) is already passing on the benefits of visionary urban planning to its residents. The planned development model adopted by the PCNTDA has consistently ensured that real estate growth in the entire Pimpri Chinchwad belt has taken place in a logical manner. As a result, infrastructure in the PCMC has become one of the brightest gems in Maharashtra’s urban development showcase.

The Pune Municipal Corporation Elections present the city with a good opportunity to insist on the proper and timely implementation of the Pune Development Plan. In the 23 villages which have now come under the DP, there has been little or no progress on infrastructure for more than two decades. There is an urgent need for proper roads and other physical infrastructure in these areas, many of which which have already seen a lot of irrational construction and illegal projects.

If Pune’s development Plan is properly streamlined and implemented, all old and new areas will benefit from improved road networks which will help in the decongestion of the inner city. It would be a mature election platform to promise the implementation of the DP in a timely and progress-oriented manner, rather than promising to improve only certain sections of the city.

We look forward to one visionary candidate in the upcoming Pune Municipal Elections 2012 to take up the cause of the Pune Development Plan as a whole.

Posted by: K. D. Nagarkar

A Proposal For Revitalization Of Pune’s Development Plan

The draft Development Plan (DP) for the 23 villages to be merged into Pune’s Municipal limits has been more or less finalized. It has given emphasis to the Pune metro, and it also proposes to increase the permissible height for high rises in the established parts of the city from 100 metres to 150 metres. Vertical growth is obviously the only way to go in the areas of Pune where horizontal spread is no longer possible.

development-plan

There is great potential for Pune real estate, and the Development Plan is supposed to aid its growth. However, there are some major areas of concern when it comes to its efficiency in doing so. One of the prime concerns is the process involved in formulating, finalizing and implementing the DP in the first place.

This process comes under the purview of the MRTP Act for urban growth in Maharashtra. As it stands now, it is archaic and extremely slow-moving process. To begin with, just getting it from the blue-print to approval stage involves several agencies. Only when the required approvals have been obtained from all these agencies can the Development Plan be finalized by the Chief Minister and implemented by the Pune Municipal Corporation.

This is an extremely cumbersome process, and the amount of red tape it takes to finalize and implement the Pune Development Plan is enormous. It should be remembered that the Government of Maharashtra has to handle the approval and implementation of the Development Plan in tandem with countless other proposals from all over the State. This is why this process usually takes anything between 10-15 years to be finalized and put into actual practice.

These huge delays further give rise to vastly increased costs, wasted time and negatively impact on the city’s GDP. At this critical juncture of deployment of Pune’s development Plan, it would make sense to look at more progressive models of planned urban development. The Government of Maharashtra could consider the method that has worked so well in Ahmedabad in close-by Gujarat and in the neighbouring Pimpri Chinchwad Municipal Corporation.

There are good reasons for considering the Pimpri Chinchwad Municipal Corporation as a suitable role model for progressive urban development. Only recently, the PCMC was honoured with the ‘Best City in India’ award at the hands of the Prime Minister himself. Pune’s booming sister city simultaneously received two further national awards under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) for the improvements made in its water supply and waste water management, and for effective enforcement of policies aimed at the Economically Weaker Sections.

What is this progressive model of urban development that could transform the PMC, as well? In simple terms, it involves three distinct, time-bound stages. In the first stage, the Government acquires land under roads and reservations at a stipulated rate or in the form of TDR (Transfer of Development Rights). A blueprint for complete social and civic infrastructure creation of the new zones to be developed is then drawn up. This includes roads, water and electricity supply as well as designation of areas for residential development, schools, shopping, hospitals, workplace hubs and industry.

The laying down of this infrastructure can then put on the fast track by creating a Special Purpose Vehicle for a dedicated infrastructure fund. Pune’s new Development Plan will a certain number of kilometers of road length. The total cost of road development can be calculated and the cost per square foot could then be loaded on to the residential development of these areas in the next stage. Interestingly, this cost is very minimal and can be easily borne.

With the kind of will and focus that was displayed by PCMC when it used this model, the entire road development and civic infrastructure development can be completed with three years. At this stage, the newly established and fully infrastructure-enabled areas are then opened up to developers for residential and commercial development.

The advantages of such an approach are manifold. In the first place, there is a uniform, horizontal spread of real estate. Development does not take place in pockets, but in a scientific manner. The creation of road networks and electricity and water supplies before actual real estate development ensures that property prices remain rational and equitable. There would be a very favourable effect on the affordability of homes in these new areas. All these factors together ensure that there is optimal economic growth that benefits everyone.

The Government of Maharashtra has already committed itself to fast-track growth of its cities. By adopting the above-mentioned model, this commitment can actually bring real-time results.

Anil-Pharande

 

 

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

Problems Ahead For Pune Real Estate

Anil Pharande

Like all other property developers in Pune and PCMC, I continue to be enthusiastic about the city’s real estate future and potential. However, I do have concerns about the impact of unregulated development. For instance – in the fever of the property market’s roller-coaster ride, we may have forgotten the fact that this city’s primary and most marketable attraction was its salubrious climate.

Pune Property

Today, the city authorities we indiscriminately razing hills and trees to make way for a proliferating concrete jungle. This has already had a very noticeable effect on the climate in the PMC limits. Fortunately, great care is being taken in the Pimpri Chinchwad Municipal Corporation – Pune’s booming sister city – to maintain as much green cover as possible.

The PCNTDA (Pimpri Chinchwad New Town Development Authority) is very serious about planned development; as a result, there is considerable emphasis on environmentally sustainable real estate development in the Pimpri-Chinchwad region. The increasing and highly successful trend of integrated township properties in the new boom localities of Moshi and Ravet are clear indications of this progressive focus.

However, the real estate development mania in the Pune Municipal Corporation region continues unchecked, without any apparent purpose other than to exploit all available space to maximum commercial advantage.

There are also considerable problems with real estate market transparency in Pune. The city’s rapidly increasing population is putting relentless pressure on the available land in the city. As a result, the city limits are constantly being pushed further into the adjacent villages. Ever since the merging of 38 villages into the PMC in 1997, there has been an upsurge in illegal structures in these areas. Not surprisingly, they also still lack basic infrastructure.

As Maharashtra’s second largest city, Pune is going to see increasing problems in the future. It does not take an expert to see that Pune’s urban planning and development do not consider the city as an integrated unit. The highest interest still seems to be in the pockets of highest commercial potential. With increased FSI in certain locations, there will soon be skyscrapers in certain areas, while there will continue to be unresolved slum issues in other areas.

Even today, we are not addressing the issues of badly maintained roads, inadequate drainage and the shortfall in water and sewerage networks. This leads to extremely lopsided real estate growth, with the demand focusing solely on favoured areas while little is done to raise the potential of those that lack the needed infrastructure. Pune still does not have a comprehensive parking space policy and has done nothing to curtail freight movement within the city. Many key intersections have exhausted their capacity to handle the increasing traffic.

Currently, the highest degree of Pune’s urban sprawl is along the national highway, with the density of land development declining with distance from the highway. In the interest of sustainable development, we need to correct Pune’s urban sprawl by providing the necessary infrastructure in currently non-preferred areas as well. If this does not happen, we will have serious problems in further development in the coming ten years.

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

This article may be reprinted with proper attribution to the author and a link back to PunePropertyBlog.com

A Home Amidst Greenery – Your Family’s Happiness And Wellbeing

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.

woodsville-latest-Copy

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?

Posted by: K. D. Nagarkar

Pune Citizens Oppose Increase In Property Tax

(TNN, Jan 5, 2011)

property-taxes-150x150PUNE: Citizens have come down strongly at the hike in property tax proposed by the Pune Municipal Corporation (PMC). A public meeting to voice out the grievances was organised by the citizens’ group Sajag Nagrik Manch on Sunday. RTI activists Vivek Velankar and Vijay Kumbhar were present at the meeting.

“It has been observed that the entire tax amount due with the PMC is never collected. The civic body should develop a system through which the entire due amount is collected, so that the citizens are not burdened with rising tax rates,” citizens at the meet said.

“The public should be allowed to become a part of the tax collection process. Their participation should be allowed in finding out tax thefts,

” Velankar said, adding, “In this case, the public can be reimbursed with a service charge or commission. This will help increasing the revenue of the PMC.”

The PMC has proposed increase of various taxes including property tax. Subject to approval, it is likely to be implemented from the next financial year.

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces