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.

Rainwater Harvesting: Not Just an Option but A Necessity

Anil Pharande, Chairman – Pharande Spaces

In a land-locked city like Pune, the value of water is inescapable. Factors such as climactic changes happening at a national and global level are causing water levels to fall. Overpopulation has resulted in more and more acquisition and development of land – and, even worse, for landfills, cutting back on water bodies that were once available and accessible.

Deforestation has further compounded the deficiency of water, as this causes regional rain to eventually become unpredictable. Several areas are critically affected by a dearth of usable water – a city like Pune is, actually, a prime example of the happening throughout India.

More and more of the world’s burgeoning populations will be moving to urban areas in the years to come. As a result of accelerated property development in our cities, the greatest requirement for critical resources such as water is focused in urban areas. As a consequence, multistory residential complexes are being constructed at an extremely rapid speed.

The earth’s surface is 70% water; yet, very little of this is actually usable or drinkable by humans. It is very likely that we will shortly reach a stage when the quantity of useable water present on the earth’s surface isn’t sufficient to satisfy all of the requirements of the development occurring to accommodate the growing population.

Rainwater harvesting is the solitary realistic option to counter the growing menace of rapid water depletion – and this real and present option is definitely catching on in our cities. Rainwater harvesting involves accumulating, filtering and storing rainwater to be utilized for assorted industrial and residential purposes.

Rainwater is a clean, free source of potable water. Rainwater harvesting used in residential properties, which involves trapping rainwater from roofs and directing it into underground storage tanks or cisterns, can satisfy 50% of a regular family’s water needs.

The truth is, rainwater harvesting isn’t just a strategy to make maximum use of the natural resource – it also has minimal environmental impact. Naturally, it leads to substantial price savings on recurring water charges in residential buildings. In a city like Pune, a huge number of residential societies are dependent on expensive water tankers which extract ‘hard’ water from borewells – a process which further depletes ground water levels and causes all kinds of associated problems to the environment.

Urban water supply calls for pumping stations in addition to putting up treatment plants and supply conduits. With the rate of increase in urban population, city planning authorities cannot match utilities in the majority of Indian cities. Engineers and geologists are constantly fighting to discover new sources of water.

With borewell shafts going deeper as the hunt for more water continues in cities like Pune, water supply can actually be significantly supplemented by rainwater and decrease the pressure on the usual water supply.

When rainwater is harnessed in a housing complex, it can be utilized for assorted non-drinking functions that call for substantial volumes of water. Because rainwater can complement the traditional water supply system, this means considerably reduced utility bills.

Rainwater harvesting is equally appropriate for large manufacturing units that use up substantial amounts of water. Such industries can reduce the pressure on groundwater by making use of rainwater for all their requirements.

A perfect fallback position

Climate change has caused significant disruptions in the weather patterns in lots of Indian cities, resulting is decreased rainfall. Rainwater can be collected, stored and used during drought seasons to complement the ordinary water supply. In cities like Mumbai and Pune, the dreaded bane of rationing and water shortage is mitigated with rainwater harvesting, which also reduces the dependence on dams and water reservoirs.

When rainwater harvesting systems are used by a sufficient saturation of residential buildings in a city, there is a substantial drop in pressure on drainage systems, thereby reducing the possibility of floods, soil erosion, and surface run-offs. Rainwater harvesting is a perfect solution especially in low-lying regions, which are usually prone to floods due to over-taxed drainage systems.

The use of rainwater harvesting systems allows groundwater levels to recharge, which in turn aids in enhancing urban greenery; in fact, this is actually the sole dependable means of having green places without leeching away from the direly needed water supplies within urban areas.

Simple to set up and use

Rainwater harvesting systems are simple to put up and operate. There is absolutely no requirement for the complicated purifying systems which need to be applied to cleanse groundwater, since rainwater is pure. Rainwater collection systems use modern yet extremely simple technology, and their care simply involves occasional cleaning of pipes and the storage tanks to ensure the rainwater gathered is not contaminated.

Actually, rainwater harvesting can be used by anyone. Installation of gutters is step one for buildings that lack them, together with a filtration system to make certain that any other sort of debris or leaves will not find their way into the storage tanks. Safety precautions include having locking bars or lids to stop the breeding of mosquitoes or other forms of pollution of the stored water. Catchment areas in a city may comprise paved regions for example roads and car parks, where water may be picked for several non-drinking purposes.

Need for more government support

Most of the municipality areas of cities like Pune have a huge number of housing projects which don’t have the required rainwater pits. In quite a few cases, the lack of space and the overall design of the project may not make rainwater harvesting pits feasible at all – but where it is possible, no effort should be spared to create them and put rainwater harvesting systems in place. New apartment projects must, of course, be engineered from the world ‘go’ to incorporate rainwater harvesting systems.

While all such measures have been implemented in the more progressive PCMC (Pimpri-Chinchwad Municipal Corporation) of Pune, the speed at which the Pune Municipal Corporation is moving on this front leaves a lot to be desired. Rainwater harvesting is a standard feature in PCMC’s large integrated townships.

As rain is becoming noticeably scantier, the government has already begun undertaking measures to encourage residential societies, educational institutions, and similar buildings to optimize water use and exercise better principles of water economy.

The rapid, yet necessary proliferation of paved areas and roads in our cities is preventing the proper percolation of rainwater into the ground, and causing water bottlenecks on the outskirts. Establishing regularly spaced rainwater harvesting pits in urban localities is definitely the way to go, and must be implemented in cities like Pune without further delay. Additionally, the city authorities must put in greater efforts to educate citizens about the benefits and implementation of rainwater harvesting.

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.

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.

Festive Season: Tips On Freebies And Offers On Property

– Anil Pharande, Chairman – Pharande Spaces

In Maharashtra, Diwali is definitely the time of choice for property buyers to invest in their dream home. In fact, property buyers look forward to this festival to sign the papers on their homes because this city cherishes this traditional time of investing in the future.

freeObviously, builders also respond to the vastly improved market sentiments and do all they can to sustain them. During the Diwali period, property buyers will be presented with a slew of offers which developers introduce to induce sales. The Diwali period this year will see a lot of such activity, because property developers are eager to create sufficient interest in their projects. The residential property market has seen slackness over the preceding months, and Diwali is the time that developers have been looking forward to as much as property buyers.

The question here is – do such ‘freebies’ constitute real value for property buyers? The answer to this does not depend solely on what is being offered. It is a normal market phenomenon for incentives to be offered during the festive season, but property buyers should consider the actual value of the property.

They should be cautious about extravagant freebies and take a close look at the factors that add or reduce value in the case of real estate. If the project is by a developer known for sub-standard construction, or if it is located in a ‘blind spot’ of the local real estate market, no amount of freebies can compensate. The property itself will not represent a good investment, and the buyer will not benefit in the long run.

Another aspect to watch out for is freebies being offered for properties in over-priced projects. At a time when property buyers seek the best options for their money, getting a free car along with an overpriced flat does not make sense. If the flats in this project do not represent good value for money, freebies will not improve the situation. If a buyer wants to buy a flat in Pune such a project, it is best to negotiate for a better price than to accept freebies – or ask for them in addition to a discount.

Home buyers should especially beware of freebies being offered by investors who have put their money into properties in locations that are known to be ‘overheated’ (in other words, where rates have been artificially inflated by excessive investor activity). In such cases, freebies are meant to act as psychological encouragements to make an unwise property purchase.

There are certain incentives that buyers can definitely take seriously. These are not in the form of cars or vacations, but represent actual savings to them. Such incentives include:

  • Reduced down-payments to book flats, with balance payable on possession, resulting in an extension of the period between booking and full payment. Normally, buyers would have to pay the balance as the building progresses
  • Waiver on stamp duty, VAT and registration charges
  • Free or significantly reduced clubhouse memberships
  • Free parking, furnishing, interior decoration and smart home features (which would otherwise be charged for)
  • Waiver on premium for floor-rise

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.

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.

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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.

 

 

How India Can Bridge Its Affordable Housing Gap

– Anil Pharande, Chairman – Pharande Spaces

Affordable housing isn’t just about providing homes to those who need the most – it also plays a crucial part in a smoothly-running economy. Sadly, most of the cities across the globe are struggling to offer decent, affordable housing to their citizens. India is not a unique case – the story is the same for both developing and advanced economies. The world is going through an intensive phase of urbanization, but the growth in individual incomes is not keeping pace, and this presents a gloomy picture for the housing situation.

city-housing

Statistics indicate that over the next decade, the number of people adjusting in substandard housing will rise exponentially. Incidentally, India will be among the most challenged nations, unless the government is able to realistically work on its electoral promise of ‘housing for all’.

The ‘affordability gap’ is defined as the difference between the average rent people pay for their homes without having to spend more than 30% of their family income, and the price of acceptable housing units. In India, population growth has obviously triggered a rise in the affordable housing gap, but it by no means the only country with this problem. In the next 10-12 years, the world in general will have to come up with an additional 106 million low-income housing units.

These statistics illustrate a serious problem – how will this rising gap be bridged? In a country like India, what would be the means that will allow the government to support faster affordable home deliveries? Strategically, there would be three primary approaches to resolve the problem, and all are centered on lowered cost of construction, financing, land, maintenance and operations.

Even if individually implemented, each of the three approaches will significantly cut the affordable housing gap, especially in nations like India. If these approaches could be implemented in a tandem, the cost of affordable housing can be decreased by as much as 35-50%, gradually leading to a manageable situation over the next decade.

Freeing Up Developable Land

Land supply is among the most important element in housing prices. It is also responsible for the largest part of the overall investment in buying a home. If the government decides to open up strategic land around urban locations, it could be a huge solution to the rising prices of homes. At the policy level, making this happen is not too complicated either.

Most Indian cities have land parcels that remain unused or underused. In most cases, this land either belongs to the government or local/private authorities. Bringing forward these land parcels for real estate development will greatly help in launching affordable housing projects.

Bringing Down The Cost Of Construction

Compared to other sectors like manufacturing, the construction sector has been relatively stagnant in the past years. One of the reasons for this is lack of innovation – residential projects still use traditional techniques of construction that were used some 50 years ago. This is not the problem of India alone but many countries across the globe.

By replacing obsolete construction techniques with the latest modern innovative technologies, housing prices can be reduced by almost 30% and completion times by as much as 40%. For instance, using pre-fabricated components of construction that are manufactured off the site are a sterling solution. Processes like this, which are already in use in India but not to the required degree, can improve the efficiency of residential building deployment, and significantly augment budget housing supply.

A communal approach to construction materials purchasing by groups of developers who are committed to the cause of affordable housing would also help bring down housing prices.

Lowering The Cost Of Finance

In a cost-sensitive country like India, banking interest rates play a huge role in housing affordability. At the current interest rates, and even given the current subsidies, it is next to impossible for low income earners to get loans to buy homes. Banks and other financial institutions in the public and private domain should introduce encouraging schemes like contractual savings to assist low income earners to gradually accumulate the corpus needed to make down payments on affordable homes. Of course, lower interest rates would greatly help the situation.

Apart from these, the Indian government must also find means to reduce the cost of financing to developers engaged in affordable housing projects. It is encouraging that the new government is already working on its electoral mandate, but there is still no sign of a unified approach to implementation of its goals. Hopefully, we will see more progress being made on the ‘Housing For All’ promise in the future.

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.

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 – India’s Best-Planned Real Estate Market

Anil-Pharande

 

 

 

Anil Pharande, Chairman – Pharande Spaces

Planning In Real Estate

Planning is an inalienable component of real estate development. This is why buildings are engineered, not built randomly. While developing a project, this means that the builder follows a pre-determined design provided by an architect, who has based his or her design on proven engineering principles.

This planning ensures that the building’s structure has a prescribed foundation depth and distributes weight uniformly so that it can withstand internal and external stresses. The engineering aspect of project design also ensures that living units are proportionate and that the available space within them is optimally used.

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In a residential complex, the planning aspect is extrapolated beyond individual buildings. The architect’s job is to engineer the project in such a manner than the buildings are distributed according to plan across the plot, and that open spaces, parking spaces, internal roads and common utilities are exactly where they are supposed to be. In larger townships, the planning aspect becomes even more involved because of the larger area.

Planned Cities

All these are expected factors when it comes to real estate projects. But when such detailed planning is applied to an entire city, its benefits are vastly magnified. Architects, engineers, town planners, government agencies and builders approach the development of the whole city as though it were one large integrated complex.

This takes a huge amount of planning, coordination, investment and effort, but the results are obviously worth it. This is how the Pimpri-Chinchwad Municipal Corporation came into being. This is what sets it apart from other cities and into the same bracket as other planned municipalities like Chandigarh.

Today, the PCMC is a model city which is the result of careful planning of economic, social and real estate development. Unlike in the other regions in Pune, PCMC’s town planning authorities have scrupulously shielded the city from the ad-hoc development that has paralyzed the rest of Pune. The futuristic thinking and high vigilance that has been employed in developing this region has resulted in an avant-garde satellite city which adds a whole new dimension to the Pune’s real estate market.

Planned Cities Which Began Well And Ended In Chaos

From the start, planning authorities of the PCMC were determined not to repeat the mistakes committed in other cities which were originally meant to be immaculately planned municipalities. They started off on the right note, but the planning aspect soon decayed and gave way to the kind of unregulated growth that has destroyed the urban fabric of most Indian cities today. Some of the examples of failed attempts to produce planned municipalities in India are:

  • West India: Navi Mumbai and the Kalyan-Dombivili and Virar-Vasai belts
  • North India: The Ghaziabad-Gurgaon-Faridabad-Greater Noida corridor
  • South India: Bangalore’s Devanhalli-Yelahanka and Chennai’s Siruseri-Sriperumbadur belts
  • East India: Kolkata’s Rajarhat-Batanagar-Kalyani belt.

In each of the above cases, what had begun as a regulated real estate development process soon turned to a commercial expansion. PCMC on the other hand, adopted a smarter blueprint from the start. No scope had been given to nearsighted development. PCMC was always meant to be the city of the future where residents could enjoy the benefits of 100% infrastructure-based, community-oriented real estate planning and development.

Real Estate Demand Drivers In PCMC

Demand for residential real estate in a successful satellite city is created when there is a right balance of infrastructure, a stress-free lifestyle and employment opportunities. Additionally, there has to be good connectivity to the parent city. In context of PCMC, these are:

  • Road and rail connectivity to Pune
  • Its highly-planned business and industrial zones create countless new jobs every year
  • Infrastructure is vastly superior when compared to Central Pune
  • Real estate development is strictly dictated by a pre-planned urbanization model that ensures high living standards for all

PCMC is a perfect example of how satellite cities can surpass the central city. Here, the retail, commercial and residential markets work together symbiotically to create a winning proposition for end users and investors alike. When compared to Pune, PCMC has a much higher availability of green spaces, superior social fabric and vastly better infrastructure. Thanks to better land availability, PCMC also provides the most opportunities for real estate developers to create large integrated townships, which have are nothing short of a blessing for Pune’s residents.

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.

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.