West Pune’s Golden Location Matrix Widens Into Punawale

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

While real estate is a constantly changing and evolving concept, some parameters remain constant – the three success mantras are still Location, Location and Location. In this respect, Western Pune is an important new chapter in the annals of Pune real estate’s success story. One of the most exciting new locations in this corridor is Punawale.

Thanks to massive demand for residential and commercial properties, Western Pune has delivered some of Pune’s hottest real estate locations over the past decade. Punawale is the latest addition to the region’s lineup of strategic real estate development and investment hotspots.

Located advantageously close to Hinjewadi and its burgeoning IT Park and the Pune-Mumbai Expressway, Punawale has now emerged as the location of choice for home buyers from the Information Technology as well as manufacturing segments. Punawale is also in close proximity to Wakad and benefits from convenient access to various hospitals, schools and shopping malls.

puneville

This combination of factors has had a big impact on demand for properties in Punawale, and has led to the launch of many new residential projects. Puneville, a luxury township recently launched by leading developers Pharande Spaces, is one of the most notable examples of Punawale’s massive image makeover on the Pune real estate map.

Like Moshi, Ravet, Spine Road, Wakad and many other highly successful real estate locations, Punawale has the added advantage of being located at the fulcrum of various mega road development projects by this region’s infrastructure-focused town planning authorities. Backed by the unlimited cash reserves at the disposal of Asia’s wealthiest Municipal Corporation.

Backed by a diverse and vibrant economy which provides a convincing complement to that of Pune, real estate growth in Western Pune is backed by a prolific manufacturing sector represented by a number of national and global industry giants. This region is seeing a steady and growing pipeline of employment opportunities generated by its manufacturing and Information Technology industries.

This factor has ensured that areas like Punawale see instant absorption of housing projects across budget brackets. It goes without saying that an employment-driven real estate location like Punawale also receives significant attention from property investors.

In Punawale, Western Pune has received yet another iconic location to take this prosperous, infrastructure-driven region’s real estate story to the next level.

Pune Real Estate – The Importance Of Green Cover In Residential Zones

It is generally known that abundant urban green spaces – large areas allocated to trees, lawns and all types of flora and fauna – are a major contributor to high quality living environment. Sufficient green spaces in cities improve the quality of the air in residential areas because trees absorb pollutants such as ozone, nitric acid vapour, ammonia, nitrogen, carbon monoxide and sulphur dioxide. In turn, they provide life-giving oxygen, provide shade, attract rain and improve the aesthetic quality of the whole area.

environment

In its heyday, Pune was renowned for its generous urban green spaces. Unfortunately, the hammer of commercialized real estate proliferation has caused most of the city’s green cover to vanish. Coupled with the massive traffic movement within the PMC limits, it is not surprising that so many Punekars now suffer from various ‘mysterious’ ailments. High blood pressure, asthma, bronchitis, energy depletion and depression are rapidly becoming common-place. The city that once rivaled Bangalore with its generous urban green spaces is now literally oxygen starved.

When the PCNTDA (Pimpri Chinchwad New Town Development Authority) set out to plan the residential zones in Pimpri Chinchwad Municipal Corporation – Pune’s prosperous sister city – the vital factor of green cover was a main priority. Not many are aware of how much thought went into the real estate blueprint for Pimpri-Chinchwad, which is now a masterpiece of systematic residential zone development. Thanks to close collaboration with healthcare officials, construction and civil engineering agencies and the town planning authorities ensured that PCMC would remain a predominantly green zone. The rationale was based on firm scientific facts:

  • People who live in residential zones with abundant green cover suffer fewer health problems and experience lower stress levels
  • The survival rate of senior citizens who spend their Golden Years in green surroundings is far higher than that of their contemporaries living in the concrete jungles of the inner city
  • Green cover in a residential zone encourages its residents to spend more time outdoors and show lower preference to an unhealthy sedentary lifestyle
  • The happiness level and mental/emotional health quotient of any residential community is directly related to the extent to which individuals socialize. The availability of green areas such as parks, gardens and lawns encourages more inter-personal contact between residents

By now, social scientists know for a fact that urban green spaces tend to attracts people outside their homes and to interact with each other. Parks and gardens are places where people can meet and spend time together in the outdoors. People who have access to green spaces in cities like Pune enjoy a higher level of social activity, tend to know their neighbours and are more concerned about the general welfare of the community.

Despite the rapid depletion of urban green spaces within the Pune Municipal Limits, Pimpri-Chinchwad offers the citizens of Pune the option of green living. The verdant residential townships in localities like Ravet and Moshi have been designed in complete compliance to the PCNTDA guidelines for green spaces within PCMC residential zones. At the same time, the Pimpri Chinchwad Municipal Corporation offers to them vastly superior civic and social infrastructure and significantly lower property rates.

Anil-Pharande

 

 

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

Affordable Housing In India – Where Is The Supply?

Affordable housing is a term we use for residential units in India’s urban areas which are affordably priced with respect to households that fall within a specific limited income range. There is no single set of parameters to define what an affordable housing unit should cost in India. This is because the pricing and feasibility to developers of affordable housing is a function of the city, location within the city, type of project being built and also the construction technology employed.

aff

In India, it is appropriate to judge the affordability of a home on three broad parameters – the monthly income of prospective buyers from the target segment, the size of the home and, of course, its price. There is another element that should be mentioned, namely the target clientele itself. We tend to look at the word ‘affordable’ solely in terms of the LIG (lower income group) segment. For this segment, affordable housing would mean 200-300 square foot dwellings priced at between 7-12 lakh.

But what about people who earn more than the average factory labourer but still cannot afford to buy a decent 1 BHK flat of 300-450 square feet within ten to fifteen kilometers of their workplaces? They too need affordable housing – housing appropriately priced for the middle class. The home buyers in this segment can afford to buy flats in the price range of Rs. 30-35 lakh via home loans.

Obviously, they expect a certain standard of living, comforts and facilities for this expense. However, but even such flats are hard to come by in our larger cities. This is the case even in Pune.

Today, around 30% of India’s population lives and works in urban areas. This means that they occupy less than 2% of the land available in the country. If we zoom in on Maharashtra, it emerges that close to 60% of the overall population lives in urban locations. Distressingly, a closer look at a city like Mumbai reveals that over 50% of its citizens live in slums. Mumbai’s slums occupy less than 4% of the land available in the city. Obviously, the affordable housing quotient has gone badly wrong in Pune’s prosperous neighbouring city. However, the problem is larger than just one city, which continues to get negative press only because of its exorbitantly high property rates and enormous annual inward migration.

Despite everything being said on the matter, the shortage of affordable housing in India is getting worse instead of better. The country’s urban population of 285 million has multiplied itself by five over the last half century. It is projected that it will continue to increase at this fast pace, and that 50% of all Indians will be living in urban areas by the end of the next three decades. So, if the shortage for housing for the lower income segment stands at 25 million today and there is no increase in the pace of supply of affordable housing launches, what will this figure look like in 30 years?

Let us look at the situation from a real estate market point of view. There is, in fact, a gigantic market for affordable housing in India. Currently, it is valued at anything between Rs. 5-10 trillion. What is really being done to address this huge market – especially the one constituted by the ever-growing middle class? There are next to no Government incentives for projects with flats in the Rs. 30-35 lakh bracket.

While the only answers to this question in Mumbai seem to lie in small projects on the far outskirts of the city, Pune presents a far more encouraging picture. Developers of township properties in Pune have now begun addressing this market with an internationally inspired property development model called integrated townships. This model is based on maximum value for money to buyers, based on high-grade common infrastructure and shared facilities in more cost-effective, yet progressive areas like the Pimpri Chinchwad Municipal Corporation.

With fully integrated township projects like Woodsville and Celestial City, we at Pharande Spaces have been successful in delivering affordable housing for the mid-income segment of home buyers in Pune and the PCMC area.  There are various reasons for this success.

For one, land for these integrated townships was acquired early on in upcoming locations such as Ravet and Moshi. This meant that the price of the finished products could be kept within the means of Pune property buyers. Secondly, townships like Woodsville and Celestial City are conceived and constructed on a model that allows luxurious facilities and amenities on an economy of scale. In other words, it is possible to provide luxurious features for all units in these projects on the basis of a large-scale master plan.

Anil-Pharande

 

 

Anil Pharande is Vice President – 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.

A Call For Action For The Pimpri Chinchwad Municipal Corporation

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.

The Pimpri Chinchwad Municipal Corporation was honoured by by presence of Maharashtra Chief Minister Shri Prithviraj Chavan, Deputy Chief Minister Shri Ajit Pawar and NCP President Shri Sharad Pawar. These distinguished dignitaries had very generously agreed to inaugurate several key infrastructure projects at PCMC:

  • The new PCNTDA building near Akurdi Railway station
  • The Traffic Park at Bhosari
  • The flyover near Spine Road
  • PCMC’s very own Nala Park
  • The Science Park at Auto Cluster

We, the architects of India’s most progressive planned city, were truly inspired by the kind words of praise, encouragement and hope that these honoured guests offered at the inauguration ceremonies. It is clear that the Government has recognized Pimpri-Chinchwad as the City of the Future, and that the city can depend on the fullest support as it continues to progress.

Nevertheless, there are reasons to be cautious in all this optimism. It is true that the careful and futuristic engineering of development at PCMC by the PCNTDA has become a national and even international benchmark for town planning. However, there have been various challenges along this road to progress. We need to take these hurdles into consideration if the Pimpri Chinchwad Municipal Corporation is to fulfill its maximum potential as the City of the future.

Considering the pace at which real estate development has been taking place, certain lacunae in adhering to the PCNTDA’s master plan were unavoidable. One of the most glaring examples of this was the emergence of unauthorized structures in various pockets of the PCMC.

Thankfully, this issue is being dealt with firmly. The authorities have embarked on a massive drive to deal with such structures, and we are confident that all illegal constructions will be erased from the landscape by the end of 2013. However, we cannot deny that these are damage control measures which would not have been necessary if the damage had never been allowed to occur in the first place.

More Road Connectivity

Another area of concern is lack of adequate road connectivity between certain key areas of the PCMC and areas such as Talegaon. Because of the massive potential for industrial and residential development in and around these areas, they have seen most of the road construction initiatives. In the process, road connectivity from these locations to some of the most important growth areas of PCMC has been largely ignored.

Paradoxically, the areas referred to as Phase 2 in the PCMC development plan hold the highest potential for real estate growth. Thanks to the availability of large land parcels at relatively lower prices, residential and commercial realty development has picking up rapidly in areas such as Moshi. In the meantime, Moshi has become a hotbed for property investments because of the International Convention Centre being jointly developed by the Maratha Chamber of Commerce and the PCMC.

Despite this, there is still no sufficient road connectivity between Phase 2 and the larger industrial hubs. This is going to prove to be a huge stumbling-block for the overall growth of the region. The lack of a suitable road network means that people living in areas like Moshi face difficulties in reaching their workplaces in these employment clusters. This issue must be addressed on a priority basis. A city like PCMC must do everything in its power to ensure that its growth pockets are not isolated from each other.

PCMC Needs To Expand

Yet another issue is that the population within the Pimpri Chinchwad Municipal Corporation is growing at an annual rate of 73%. Such a rate of growth makes it necessary to provide more spaces for development. Unfortunately, there have been limitations put on the city’s potential for geographic expansion by Red Zones (non-development areas).

It is imperative that more of the region’s outlying villages be included in the urbanization plan. There are enough examples in India of what happens when a city does not expand geographically in tandem with its population growth. Such a situation must not be allowed to develop in the PCMC. Also, PCMC needs to be able to accommodate the rapid growth in population in terms of providing more educational institutions, shopping complexes, healthcare establishments and entertainment zones.

Encourage Green Development

Finally, I would like to touch on PCMC’s major thrust towards sustainable real estate development. It is no secret that green development is the future of real estate all over the world. In fact, many of the bigger residential townships and commercial complexes in the PCMC have already adopted the ‘green development’ mantra. The new PCNTDA building itself is a resounding statement to how important sustainable development has become to the city.

Nevertheless, there is still a noticeable lack of enthusiasm within the region about the benefits of green homes and workplaces. One of the reasons for this is lack of awareness. Many of the region’s residential property developers and buyers have not been attuned to the advantages of environmentally sustainable properties. I urge the State Government to join hands with the PCMC to bring about greater awareness and eventual adoption of this vitally important principle.

I also strongly advocate better incentives for developers and buyers of green homes in the PCMC. The use of non-conventional energy sources and sustainable waste water management does not only have a positive impact on the environment and on the overall quality of life. Such measures reduce the strain on municipal resources, resulting in significant revenue savings. Unless the benefits of these savings are passed back on to the developers and buyers of sustainable properties, we cannot expect a more wide-spread adoption of the ‘green’ mantra in PCMC.

We gratefully acknowledge the importance that the visiting dignitaries have given to the City of the Future by gracing it with their presence. At the same time, we sincerely request them to take heed of PCMC’s most urgent requirements.

Pharande Spaces Announces L-axis, PCMCs Premium Residential Project

Affordably Priced, Will Cater to Management Cadre Homebuyers.

Pune, June 27, 2012:  Pharande Spaces, the leading construction and development firm specializing in township properties in the PCMC area of Pune, is launching its premium residential project L-axis on the PCMC Spine Road, in Sector 6 of Pradhikaran. The launch date is June 28, 2012. The project is spread over 11 acres of verdant green land and will feature 2, 2.5 and 3 BHK apartments.

L-axis layout

“Projects by Pharande Spaces have become a byword for value for money, and our mid-income housing townships in Moshi, Ravet and various locations in Pradhikaran have met with resounding success,” says Anil Pharande, Chairman – Pharande Spaces. “L-axis is our offering to the premium segment of home buyers who value even more advanced levels of comfort, generous living space and high-tech amenities.”

Spine Road, which is where this ahead-of-its time luxury housing project is located, has become one of the most talked about infrastructure embellishments in the progressive Pimpri Chinchwad Municipal Corporation. This area is fundamentally at the core of Pune’s most vibrant industrial area, with many manufacturing giants such as Tata Motors, Force Motors and Bajaj Auto close by. It is also well-connected to the Chakan industrial area, which is home to national and international automobile companies like Volkswagen, Mercedes Benz and Mahindra & Mahindra. Apart from this, the Talawade IT Park is also within easy access.

In addition, L-axis is advantageously placed close to the Bhosari District Centre, Sadhu Vaswani International School, Sri Sri Ravishankar Vidya Mandir, the PCNTDA Traffic Park and the upcoming International Exhibition and Convention Centre at Moshi. The project will feature technologically advanced security and lifestyle features to its residents and boasts of vast green spaces, with paved area kept at a minimum.

L-axis also includes a modern clubhouse with gymnasium, tennis and basketball courts, a multi-purpose community hall and a massive water-world-style swimming pool that offers limitless enjoyment to all family members.

“We have conceived L-axis in response to the huge demand for luxury living spaces coming from the managerial cadre of these industries,” explains Anil Pharande. “Keeping in mind the clientele, we have added every possible lifestyle feature, including multiple parking spaces, luxurious atriums and lobbies in each building and high-speed lifts.”

In fact, L-axis represents a first-of-its kind residential option for discerning homebuyers in the PCMC area for whom ease, luxury and convenience are the primary watchwords. No effort has been spared to make this a landmark development which will become its own distinctive address. The launch price for apartments at L-axis is currently Rs. 4500 per square foot, and will be augmented to Rs. 5000 per square foot thereafter.

Pharande explains that PCMC’s Spine Road is the perfect location for this project, providing a residential catchment that is a focal point of the region’s most prestigious industries. The 10-kilometer road connects two major highways and also runs through Pimpri Chinchwad’s industrial, residential and commercial areas on the eastern side.

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 project 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

How Road Connectivity Leads To Real Estate Growth

Anil-Pharande

 

 

Anil Pharande, CMD – Pharande Spaces

Anil Pharande, Chairman – Pharande Spaces & Vice President – CREDAI Pune Metro

The Spine Road is a monumental contribution to the PCMC real estate sector by the Pimpri Chinchwad New Township Development Authority (PCNTDA). This becomes evident when we study the benefits that this massive infrastructure initiative brings with it. The Spine Road is the latest initiative by PCNTDA’s focus on location-efficient development.

Pune PropertyThe PCMC Spine Road connects two major highways and provides an access focus for the residential, commercial and industrial centres in the PCMC. As the longest stand-alone road within the PCNTDA limits, it is a significant step forward in relieving traffic congestion on internal roads. It also features six lanes with cycle tracks, service roads and parking facilities, thereby vastly improving the quality of living for all residents living along its perimeter.

It is generally accepted that improved road connectivity is very important for real estate growth. Most property brokers will make a big case out of an area’s excellent road network and how this improves the appreciation value of a proposed property. But how exactly does this phenomenon work? What is the real ‘connection’ between better roads and better real estate values?

Road Connectivity And Quality Of Life

Fundamentally, major roads such as the Spine Road in PCMC reduce vehicle travel by cutting down the distance that needs to be traveled between destinations. This has a direct effect on residents in connected areas. With shorter distances, people can comfortably choose to travel public transport or two wheelers, thereby cutting down fuel expenses. This also decreases noise and air pollution in residential areas.

Improved road connectivity also improves the overall safety of a neighbourhoods. This is because it becomes easier for emergency services such as fire brigade and ambulances to reach them. Likewise, it is possible for residents to reach hospitals faster – this can sometimes make a difference between life and death.

An undertaking such as the PCMC Spine Road is also a blessing for employees working in the area’s numerous manufacturing and service industries. In Indian cities, the amount of time it takes to get to and from one’s workplace is an extremely important consideration. By allowing the residents of connected neighbourhoods to reach and return from their workplaces faster, the amount of time they can spend with their families increases significantly. The same paradigm applies to school-going children.

The Health ‘Connection’

Reduced travel time also reduces the incidence of various physical ailments as well as stress levels. Longer travel times give rise to higher exposure to traffic pollution and extreme climate. Several serious health problems such as deep vein thrombosis and lung infections have been directly linked to extended automobile travel on a regular basis.

Similarly, road rage and reckless driving are often the direct result of the traffic congestion caused by insufficient road linkages. Also, as road connectivity improves further, the shorter travel distances can encourage the use of health-positive travel modes such a bicycles.

The Personal Finance ‘Connection’

Ever-increasing fuel prices were once a concern only to the middle class – today, they have gone so high that even the more affluent classes are feeling the heat. Electric cars that can meet the travel requirements of a normal-sized family are still a distant dream. We hear that Tata Motors is developing a air-powered car, but it is unlikely that we will see such solutions on the roads for several more years to come. In the mean time, like it or not, we are dependent on fossil fuel-driven vehicles.

The magnitude of savings that are possible because of improved road connectivity must not be under-estimated. It is a known fact that the transportation expenses of residents in well-connected areas is lower; a lesser-known fact is that communities which live in areas without good road connectivity often spend between 10-15% of their monthly income on transportation alone. The figures rises proportionately to the number of vehicles the family operates.

The Real Estate ‘Connection’

These are the reasons why road connectivity has such a massive impact on real estate prices. Simply put, there is a higher demand for homes in well-connected areas because they equal an easier, safer, healthier and more cost-effective way of life. In this context, the arrival of the PCMC Spine Road has become a game-changer for the region’s real estate market.

The investment value of residential properties along the Spine Road has not been lost on investors, who are now making a beeline to residential developments in Moshi, which is one of the most prominent areas along this road.

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.

The Pune Township Mania

The demand trend of Pune residential property is slowly but surely changing to township properties. A growing segment of Pune property buyers now says that nothing less than the autonomy, independence and convenience of a township property will do.

Woodsville-layout-300x168

Who are these people? Mostly employees from Pune’s booming IT and manufacturing sectors. The highest demand is from home buyers employed in Hinjewadi, Kalyani Nagar, Viman Nagar, Hadapsar and the PCMC MIDC belt. These home buyers are fed up with the congestion or the inner city and are seeking homes in the new and established township projects that are taking Pune real estate by storm.

What is it about these Pune townships that make them so different from other property options available on the market? Many of these township projects are located in the Pimpri Chinchwad Municipal Corporation in locations such as Ravet, Moshi and Punavale. Existing residents affirm that nothing within the main city can match the bliss of living in these magically located projects.

Nature is, indeed, still master of the situation in these areas. Real estate development in the PCMC area is tightly regulated. There is abundant green cover and almost all of these projects offer unobstructed view of distant hills, while traffic is just a dim, far-off echo from the Express Highway. The environment is absolutely perfect for residential family units. Naturally, prominent developers have snapped up prime land exclusively for the building of township projects in the PCMC.

Other factors have added to the popularity of these locations. The Express Highway, of course, is a vital one. It is the umbilical cord between Pune and other major metropolises, beginning with Mumbai, and is the very lifeblood of Pune’s commercial progress. In addition, the Mumbai-Bangalore Highway (in the close neighborhood) brings in further commercial growth and intercity connectivity.

With the kind of exposure that localities lying along these two major highways get, their popularity comes as no surprise. However, it should also be remembered that it was the Expressway which brought about the existence of the Hinjewadi Infotech and Biotech Park – which is the very important economic driver for Pune City today. Professionals from the city’s IT and manufacturing sectors need homes close to their offices, and also relative privacy in their time away from work. This has been a heavy driving factor behind the demand for township properties in the Pimpri Chinchwad Municipal Corporation.

In the not-so-distant past, township properties were a residential genre reserved exclusively for the rich. This has changes drastically with their rising popularity. The fact is, owning a township property in the PCMC has now become a feasible option for the city’s middle class. High competitiveness among housing finance institutions has ensured that loans for the purchase of homes in these township properties are easily available to the middle class.

All of the above reasons have combined to make township properties the No. 1 choice for Pune property buyers, and therefore a priority for many developers. Recognizing the wave of the future, prominent builders in the PCMC have appropriated land in these high-demand localities and are developing incredibly modern township projects there. These multi-acre township projects offer within their boundary walls every convenience of modern living to the property buyers. In fact, they can justifiably be seen as lifestyle resorts in which one can actually buy units.

The inherent commercial potential of this Pune township property boom cannot be ignored. Obviously, it presents a great opportunity to builders as well as real estate investors. In fact, a huge number of outstation investors – most notably from Mumbai – have already taken note of the Pune township trend. If Bangalore has earned the label of Silicon Valley of the East, Pune is well on the way of being called India’s Township City.

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.

Sri Sri Ravishankar To Inaugurate SSRVM School At Woodsville On January 15, 2012

Sri Sri Ravishankar, the iconic spiritual guru and founder of the internationally acclaimed Art of Living spiritual lifestyle system, will personally inaugurate Sri Sri Ravishankar Vidya Mandir school at Woodsville, Moshi (Pimpri-Chinchwad) on January 15, 2012.

sri-sri-ravishankar-300x240

The inauguration and ‘bhoomi pujan’ ceremony will take place at 2.30 PM on January 15 at the school’s venue in Woodsville, a residential township project at Moshi in PCMC. Anil Pharande, Vice President of CREDAI Pune Metro and Chairman of leading township developers Pharande Spaces, will also be present as Shri Shri Ravishankarji conducts the ceremonial blessing of the school and addresses his followers and the school’s staff.

“The arrival of SSRVM in Pune’s Pimpri Chinchwad area is a landmark event in the history of a city which is known as the Oxford of the East,” says Anil Pharande. ”We are indeed honoured that Guruji has selected Woodsville as the place in which to launch this unique school, which will be a blessing to parents and children.”

The renowned spiritual leader, a staunch supporter and advocate of sustainable living, has personally selected Woodsville as SSRVM’s venue on the basis of its ecologically friendly configuration. Woodsville is Pimpri-Chinchwad’s most talked-about self-sustaining residential township.

The SSRVM educational model is a proven process of self-learning that builds life skills and nurtures leadership. It is staffed by highly qualified teachers who receive special orientation and training at Sri Sri Teachers Training Academy. In the words of H.H. Sri Sri Ravishankar, “Every parent would like to have a child whose personality shines wherever the child goes. It is the personality that is appreciated everywhere. Such pleasing personality is the main aim of this education.”

The educational system developed by Sri Sri Ravishankar employs an innovative and compassionate system of learning which features a curriculum for all-round development of its young students. The school’s syllabus is customized to NCERT guidelines and includes Sanskrit, Yoga, Karate, Sports, Dance, Music and Arts, which helps the child to blossom in all aspects of life. SSRVM is an initiative of the Art of Living Foundation, which has centres in more than 150 countries and enjoys a special consultative status with the United Nations Economic & Social Council of United Nations.

The Investment Potential Of Pune’s Growth Areas

The 2012 Government Ready Reckoner for Pune shows a property rates increase of between 20-25% in some of the rural areas, primarily those that are being developed rapidly. Is this surprising? After all, would one not expect rates to go up more in urban rather than rural areas? Not necessarily.

homes

In the first place, it is the developing areas of Pune that are the investment hotspots, not the established ones. This is because these areas, though priced lower than the central city locations, are seeing addition of infrastructure and rapidly improving connectivity.

This means that property investors focusing on Pune can pick up properties at lower rates and watch their value grow as these areas become better connected to the city’s economic hubs. This phenomenon is already being witnessed in areas like Wakad, Punewale, Moshi and Ravet, all of which benefit from proximity to the Hinjewadi Infotech Park, the Expressway and the PCMC manufacturing belt. The demand for housing in these areas is high and increasing with every passing month.

It must be remembered that the price of housing is determined by the demand for it. In any given area, housing prices grow in tandem with the growth in local population. The basic logic is simple – as more people are added to a local economy, the more housing is required – and the greater the demand for housing, the higher will be the property prices. Pune property investors are obviously interested in cashing in on this trend.

The fact that Ready Reckoner rates are rising should also point the way for aspiring home owners. This is the right time to buy a home in one of the rapidly growing development areas of Pune. Investment in the right kind of home in the right kind of location can provide them a comfortable lifestyle now and financial security for themselves and their families in the long run.

Here are some quick guidelines for the selection process:

  • Ensure that the project is being constructed by a reputed builder with a good track record for timely completion
  • Ensure that the location has appreciation potential – ask a local broker by how much prices there have grown over the last three years and how much they are expected to grow in the next three years
  • Do not go by price alone but look at what is scheduled to happen in the location in the near and distant future
  • Invest in a township property. Township properties generally show better resale value than standalone projects because they have better infrastructure, security, construction quality, facilities and ambience

Posted by: K. D. Nagarkar