Puneville: Redefining luxurious living with a dash of modern lifestyle

Pharande Vaarivana Pune

Pharande Vaarivana Pune

With the Pune real estate market now counting among the most vibrant and attractive property investment destinations in the country, the focus is now squarely on which regions and real estate typologies are in highest demand by end users and investors. West Pune has emerged as a clear winner. One of the major global industrial hubs, West Pune is a dynamic economic generator drawing power from its massive cluster of mechanical, automotive and information technology clusters.

Pharande Vaarivana Pune

Integrated townships have become the most preferred residential real estate configuration in Pune, and Punawale in West Pune is now home to what is by far the most luxurious as well as future-ready townships of its kind. Puneville, the masterpiece of luxurious township living by Pharande Spaces, has completely redefined the West Pune real estate landscape. Conceived and executed in partnership with globally acclaimed architects Aedas, this ultra-luxurious project is the culmination of Pharande Spaces’ constant quest towards perfection in township development.

Pharande Vaarivana Pune

Puneville has been created to be the penultimate statement in luxurious township living,” says Anil Pharande, Chairman – Pharande Spaces. “We have spared no effort, expense or stretch of imagination to make it the most desirable residential address in Pune, and we have succeeded. The response from end users and investors has been unprecedented. By design and intent, Puneville is a unique creation that has no peers. Here in West Pune, we have given the city its ultimate real estate destination.”

Puneville consists of 16 towers, each with 23 storeys of uniquely crafted living spaces. In keeping with its elite ethos, its 2, 3 and 4BHK apartments are equipped with highest quality fittings, fixtures and marble flooring, sourced from leading manufacturers in Europe and Asia. The outdoor perfectly complements the interiors with every conceivable luxury feature, including Olympic-sized swimming pools for every cluster of buildings, landscaped gardens, tennis courts and a jogging track.

Puneville also features a completely unique sky walkway that circumnavigates the residential towers, effectively connecting all the towers to a central green area and children play zones.

Pharande Vaarivana Pune

Is Pune ready for such a luxurious, futuristic township?

“Absolutely,” says Anil Pharande. “Luxury living in Pune is driven primarily by its burgeoning Information Technology sector – and in terms of what buyers from this segment expect from their luxury homes, the stakes are extremely high. At the same time, integrated townships have emerged as the most desirable residential real estate offering, since they offer self-contained and self-sustained infrastructure as well as all the ingredients of a modern, convenient lifestyle. Puneville is the perfect marriage of residential luxury in a full-fledged township environment in West Pune, which is now the city’s most sought-after real estate investment precinct.”

Mar 28 2015 : The Times of India (Pune)

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.

Pharande Vaarivana PuneObviously, 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 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.

Thriving Real Estate in Pune

(StockMarketsReview.com, October 13, 2010)
Pune is a well established premier IT centre in the country that houses units of various leading IT and ITes companies. Once known as pensioner’s paradise, Pune property market is witnessing mushrooming of various luxurious and affordable housing spaces equipped with modern amenities. It has apparently metamorphosed into a bustling mini metro over the years and ranks among the most preferred property investment destinations today.
The entire realty sector in Pune is flourishing with humungous developments in residential, commercial and retail segments. Some of the popular residential localities in the city are Hadapsar, Kalyani Nagar, Kharadi, Viman Nagar, Baner, NIBM, Koregaon Park, Wakad and others. Similarly, commercial property in Pune is most sought after in areas of Baner, Viman Nagar, Aundh, Lonavala, etc. The entry of technology honchos has not only triggered its economy and created employment opportunities galore but also put it forth as a potential real estate destination.
As is the case with other tier-II and III cities, the large scale migration of professionals and students created the housing needs. Already working hard to cater to the commercial demand, developers then began focusing on the inadequate residential property. With the youth settling in, demand for retail realty in Pune also witnessed a considerable upsurge pushing developers to launch retail property projects in the city.
Undoubtedly, builders have been instrumental in taking Pune real estate to a different level. The coming up of high quality developments in terms of modern apartments equipped with state-of-the-art amenities, commercial spaces with excellent infrastructural support and swanky multi storied shopping complexes and multiplexes are all their efforts. Besides the colossal growth within the city, residential property is burgeoning in the peripheral areas of the city as well.
The demand is increasing relentlessly encouraging more and more realty projects to be launched by both national and local property builders. While corporate companies are scouting for commercial properties in Pune, migrant professionals are eyeing accommodation facilities in the city. The supply of real estate constantly falls short even as housing and office spaces multiply speedily within and around the city. With this conspicuous deficit, the property prices are soaring higher year by year.
The emergence of numerous integrated townships and condos among green environs make Pune an ideal place for living. And the considerably high returns on its realty put it across as a rewarding investment destination. The great capital and rental values spells enthusiasm in the property sector with hordes of realty investors thronging the city’s market. With an attractive 30 to 40 percent appreciation in prices, NRIs are also taking interest in investing money here. As a result, the demand for premium housing- deluxe villas and luxury apartments has also gone up by several notches.
This addition to the already fuelling up demand makes Pune one of the most lucrative realty destinations. It is among the most happening cities, located in proximity to the financial capital of the country and that serves as another advantage for Pune realty. The emergence of tier-II and III cities as property hubs is instrumental in heightening the importance of real estate in India.
Pune has not only come across as a cosmopolitan city but also as the cultural capital of Maharashtra. It offers a wonderful blend of tradition and modernity symbolizing historical past as well as a software and industrial center of today with global presence. It has been attracting huge foreign investments from NRIs, MNCs and FDIs in its realty sector. Real estate in Pune has been expanding ever since the Government started liberalizing its policies to attract investors. It is expected to flourish furthermore in coming years being a favorable investment destination.
Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively.

Woodsville — The Perfect Integrated Residential Complex In PCMC

Woodsville, the ultra-modern integrated residential complex in Pune’s burgeoning twin city of PCMC, is a home-owner’s most cherished fantasy transformed into larger-0than-life reality. At Woodsville, you and your family can finally live life to the fullest. An exclusive, fully facilitated and self-sufficient 50-acre community, Woodsville is actually your very own town within a city.
woodsville-1-14781
Rising twelve, eighteen and twenty two storeys high against a vista of green gardens, Woodsville consists of stately buildings housing 1, 2 & 3 BHK apartments. The striking façade is an arresting combination of elegance & individuality in communion with nature.
The Great Outdoors At Your Doorstep
The large podium garden is the centerpiece, where children can make merry in complete safety, and senior citizens can enjoy leisurely walks or get together with their neighbours, savouring the peaceful ambience. A clubhouse with indoor games, a swimming pool and cool water bodies afford healthy recreation options. The towers form a classic backdrop to this pastoral mosaic.
Spaces To Luxuriate In
The apartments, which reflect the magnitude of Woodsville, are generously sized, ranging from spacious 1 BHKs admeasuring 665 sq.ft. , large 2BHKs of 913 to 1033 sq.ft. up to enormous 1,601 sq.ft. 3 BHKs. Living spaces are laid out to receive plenty of natural light and fresh air making every homecoming a welcome experience.
Click here to learn more about Woodsville

Finolex Industries Selling Pune Land To Raise 4 Billion Rupees

Finolex Industries Ltd., India’s biggest maker of pipes made of polyvinyl chloride, surged to its highest in almost three years after the company said it expects to raise about 4 billion rupees ($86 million) selling land.
The company revived its plan to sell 78 acres (31 hectares) of industrial land after an increase in real estate prices, said P. Subramaniam, chief financial officer, said in an interview. Finolex had in 2008 proposed selling the property, he said.
The land sale will help Finolex improve its cash flow, said Tejas Doshi, vice president of equity research at Sushil Financial Services Pvt. The company, which reported a 67 percent drop in profit in the three months through June, also plans to spend 800 million rupees to build a new factory, Subramaniam said by phone today.
The land sale will help “improve the balance sheet,” Mumbai-based Doshi said. “It will also help their expansion plans.”
Finolex will raise 500 million rupees by selling non- convertible bonds to build the plant and will fund the balance from its profit, Subramaniam said. The company hasn’t “finalized” the land sale yet, he said.
Source

Celestial City: Ravet’s Pride Is Right On Schedule

Celestial City, the unique 25-acre integrated township by Pharande Spaces and Rama Group, is now in the second phase of construction. As planned, this premium apartments complex at Ravet, PCMC is transforming the real estate topography of an area known as the Gateway to Pune.
celestial-city-ravet-roads1
Celestial City has been conceived as a completely self-sufficient residential microcosm that will offer its residents absolutely everything by way of a comfortable lifestyle.  That blueprint is now rapidly being transformed into reality as construction enters the next phase.
The location of Celestial City couldn’t be better – it was planned as both the ultimate residential destination and a sure-fire investment hotspot. Ravet is located at the confluence of the old NH4, the Dehu Road- Katraj bypass and the Mumbai-Pune Expressway.
celestial-city-phase-two
Its ready accessibility, as well as proximity to vital establishments, has earned it the distinction of being one of the most prominent growth corridors on the Pune real estate market.
Because of its unique location, invigoratingly green spaces and affordable residential property options, Celestial City is now attracting a huge demand from executives working in Hinjewadi, Pimpri-Chinchwad, the Talegaon MIDC and Chakan MIDC.
With Phase II of Celestial City now in active progress, the project is well on the way to completing the planned roster of 2000+ units at this avant-garde budget homes project.
celestial-city-sample-flat
Celestial City is backed by the experience and impeccable track record of two leading development concerns. Pharande Spaces, the residential property trendsetters in Pimpri-Chinchwad, already have several landmark projects to their credit – including the award winning Culture Crest.
To date, Pharande Spaces have completed residential projects in excess of 1.5 million square feet. Likewise, Rama Group’s professionalism and expertise have led to the completion of 23 projects that cumulatively account for 5 million square feet of construction.
The fact that Celestial City is fully underwritten by the country’s leading financial institutions ensured a smooth, seamless construction flow even during the worst of the recent recession. With Phase II on schedule, Ravet’s crowing glory has taken a decisive step towards final completion.
When two real estate giants join hands to create the City of the Future, the outcome can be nothing less than magical….

celestial-city-archA masterpiece in the making

celestial-city-sample-flat-livingroom
K. D. Nagarkar is a blogger and freelance journalist who specializes in real estate and environmental issues. He keenly follows the development of integrated township properties and other sustainable projects in and around Maharashtra.
You may reprint or quote this article with full credit to the author and a link back to PunePropertyBlog.com

Pimpri Chinchwad: The Evolution Of A Pune Real Estate Paradise

integrated-residential-township
If you are new to this new Pune real estate boomtown – Pimpri Chinchwad, you need to know that its a modern twin city situated South-East of Mumbai, in the North – West quadrant of Pune.
Pimpri Chinchwad also happens to be the fifth-most populated city of Maharashtra and has long been famous for being one of the most prominent industrial destinations outside Mumbai.
The twin cities of Pimpri-Chinchwad, governed by the Pimpri Chinchwad Municipal Corporation (PCMC), are located 15 km from the Pune city centre. They form a continuous urban stretch, adding to the overall Pune Urban Agglomeration, and contain a thriving industrial belt that primarily consists of engineering and automobile industries.
In fact, PCMC and Pune, when viewed as a unified geographical unit, make up one of India’s largest industrial areas. Pimpri-Chinchwad has contributed a lot to the fact that Pune is the second-largest industrial city in Maharashtra after Mumbai. That fact alone has already spelt gold in terms of the Pune property market – but there’s a lot more.
Let me tell you a bit more about this new real estate boomtown, and why it has come so much into the limelight. As we know, location is everything in the real estate market – both in terms of connectivity to the primary city and pleasantness of environment.

Pimpri-Chinchwad: Location And Connectivity

Pimpri-Chinchwad is situated on the Deccan Plateau and is surrounded by hills.  It rises 560 meters above the mean sea level, near the confluence of Mula and Mutha rivers. Moreover, the Pavna River traverses the city, with the Indrayani River cutting through it on the north-western outskirts.
Accessibility by road is excellent, to say the least. Pimpri Chinchwad is situated on the confluence of NH-4 (the Mumbai-Bangalore highway) and NH-50 (the Pune-Nasik highway).
In fact, the PCMC area boasts of an extensive network of national highways to major cities like Mumbai (163 km), Nasik (202 km), Nagpur (880 km), Bangalore (835 km), Chennai (1166 km) and Hyderabad (548 km).
Railways are an important ingredient of economic growth, and Pimpri Chinchwad is located on the Mumbai-Pune mail line. It has broad-gauge, direct connectivity to Mumbai, Bangalore, Chennai and Hyderabad.
The Pune airport, which is just 20 km  away, has regular direct flights to New Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad (not to mention direct flights to Dubai and Singapore).

Industries in Pimpri-Chinchwad

The Pimpri-Chinchwad area is home to over 4000 industrial units in the large, medium and small sectors, these include some of the most reputed industrial companies of the country. Needless to say, this makes it one of the most developed industrial belts in Maharashtra.
Where did it all begin? With the arrival of Hindustan Antibiotics in 1954. The establishment of this public sector pharmaceutical company proved to be a major catalyst, and PCMC saw rapid industrialisation over the next few years.
To prepare the region for the boom to come, the Maharashtra Industrial Development Corporation (MIDC) procured large tracts of land in 1956, and in no time at all multinationals like SKF and Phillips, and Indian giants like Tata and Bajaj set up major units here.
Today, PCMC industrial portfolio includes a large number of engineering units as well as a number of other industries such as pharmaceuticals, chemicals and telecommunications.
With such a scale of industrial development, the PCMC area emerged as a major employment treasure trove, and the population grew exponentially. Today, Pimpri- Chinchwad is a metropolis in its own right, and is rightfully considered Pune’s sister city.

Climactic Magic in Pimpri-Chinchwad

The PCMC area has invigorating climate throughout the year, thanks to it high altitude, moderate rainfall and a green cover that Pune cannot even begin to compare with. The monsoon arrives in during first week of July and extends to mid-September.
In this period, PCMC witnesses an average annual rainfall is 700-800 mm. The maximum relative humidity during the rainy season is 70-80%, and falls as low as 30% on summer afternoons.
This is as close to a perfect climactic setup as one can achieve anywhere in Maharashtra, and is one of the main reasons why so many people from various regions choose to settle down here.

Ready For A Home In PCMC?

Pimpri-Chinchwad is now an extremely popular residential destination, which is why real estate development here has picked up rapidly over the last three to four years.
One of the most important features of the PCMC residential property market is the fact that it features large and amazingly modern integrated residential projects. Homes in these projects offer everything required for a comfortable lifestyle within them – often at half the property rates prevailing in Pune.

Anil Pharande is President of CREDAI PCMC 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

Celestial City Inaugurated By Bollywood Actress, Urvashi

Celestial City, an integrated township spread over 25 acres at Ravet launched the second phase of the project on August 13. Well-known model and screen actress, Urvashi Sharma inaugurated the new phase.
A joint venture of Rama Group and Pharande Spaces, Celestial City comprises everything one would find at a residential complex and more, including entertainment, leisure, and amusement; from a mall, multiplex, lounge bar to an aqua park, and an all encompassing sports arena.
Among the many notable personalities from the real estate sector present for the occasion, were Anil Pharande, Director, Pharande Spaces, Ram Panjabi, Founder of Rama Group, Moti Panjabi, MD, Rama Group, Govind Panjabi and Jeetu Panjabi and Raju Panjabi of Rama Group. The occasion also marked the unveiling of the new Celestial City ad campaign.
Read more: Urvashi attends a Pune do – Bollywood – Filmi Parties – Entertainment – The Times of India

Pune Mayor: Go Green, Get Tax Rebate

Mayor Mohansingh Rajpal has said that builders should play a more pro-active role in developing facilities for recycling of water, rainwater harvesting, sewage treatment as this will help reduce the load on Pune Municipal Corporation.
“In return, the PMC offers a 10% reduction in property tax that will make a project more attractive to buyers,” he said, while inaugurating the property exhibition series of CREDAI, Pune, VITS Hotel, Balewadi.
The mayor said, “The young generation of builders is doing a lot of good work for the city. Pune needs more and more young people in the process of development of the city,” he said.
The mayor asked CREDAI members to explore ways in which tourism can be increased in the city and assist the PMC to develop projects such as cleaning up the river, development of a world class exhibition centre, museums and malls.
The CREDAI, Pune, exhibition is from August 6 to 8. Projects on display cater to 1BHK to 5BHK flats, bungalow plots, pent houses, farmhouse plots covering all areas in PMC and PCMC.
Read the rest of this article here.

Road Development: The Key To Pune’s Real Estate Growth

Pune Property
There are often comparisons made between the infrastructure of Mumbai and Pune. The popular consensus seems to be that both cities are equally challenged as far as supportive infrastructure is concerned.
This is inappropriate for two reasons – one, Mumbai’s growth pattern has been very different from Pune’s. The city has evolved into the country’s financial capital, and the pressures on it are enormous and overwhelming, considering the fact that a significant part of it is an island that cannot grow horizontally to accommodate the growing real estate demands.
Pune, on the other hand, has an advantage by virtue of the fact that it has been able to add to its borders by means of surrounding villages. This has served to decreased pressure on the central city and encourage an outward growth pattern.
The challenges on Pune’s infrastructure – particularly its road network – have more to do with the speed of this growth. While there are various proposals for roads and road widening, these have to be translated into real time to be effective.
The pockets of infrastructural under-development are the result of both developers and the Government concentrating on existing growth areas and sidelining those with high future potential. It is a known fact that no area can grow in terms of residential, commercial and retail real estate unless the necessary infrastructure is first put in place.
This is quite a common phenomenon that is the result of the principle of fastest returns almost instinctually followed by both developers and the Government. Bangalore, for instance, was initially not well planned for radial expansion.
The approach in this city was simple – where Information Technology projects went, residential projects followed. IT and ITeS, as business lines, are not dependent on a city’s CBD areas and can workably exist in areas where property prices are low.
Once such a project is firmly in place, residential, commercial and retail establishments follow. Since this kind of growth in no way follows a master plan, the result is haphazard pockets of growth. This naturally leads to the neglect of areas that have not been so favoured. The syndrome is also evident in the case of other industries such as manufacturing.

For The Lack Of A Road….

To identity another factor that has compromised Pune’s holistic growth in terms of real estate viability – the first masterplan for the city designated a much more progressive ‘roadmap’ for the city’s road network, while the second one is decidedly sotto voce on these. Also, key roads leading to new growth areas are not being put in place with the speed necessary to ensure that these new areas have the requisite connectivity.
The roads leading to Kharadi – a major real estate growth nexus – have not been put in place due to an inappropriately slow speed of development initiative. Similarly, the Eastern bypass has been at the proposal stage for many years. In these and various other instances, the result is compromised potential.

Case Study – Pradhikaran Phase 2, PCMC

In comparison, the Pimpri Chinchwad Municipal Corporation (PCMC) has been proactive in terms of a proper road network. This explains why there have been such spurts in growth and corresponding real estate values in this region. Considering how much the authorities have already achieved, it is distressing that certain pockets in the region still show signs of infrastructure deficit.
A case in point would be Phase 2 of the Pradhikaran area, which comes under the purview of the Pimpri Chinchwad New Town Development Authority (PCNTDA).
The Pharande Group, which has made significant land bank investments in Phase 2, across Sectors 4 and 6, had already launched residential projects in Pradhikaran’s Phase 1. Under the aegis of Anil Pharande, a massive mixed-use development is now shaping up in Phase 2.
This area is extremely important for overall growth of the region, since it will cater to a huge chunk of the middle income housing demand for PCMC-employed mid-management cadre. However, because of the lack of proper roads, only the Pharande Group and a handful of smaller developers have taken the risk of venturing into this area to open it up for future growth.

The Origin Of Mismatch

The Pimpri Chinchwad Municipal Corporation (PCMC) area was established as a satellite town to Pune in 1962, and it quickly grew as an industrial market. Since the travel time between Pune and PCMC presented a challenge, the authorities soon perceived an increasing need to provide housing for people who worked in this area. This led to the formation of the Pimpri Chinchwad New Town Development Authority, which began to develop housing for the PCMC workforces.
The constraints of octroi and sales tax caused most industries to start moving out of the corporation limits. This caused a boost in the growth of the outlying areas. Development is now gradually shifting away from the core areas of PCMC, and the areas between Bhosari and Chakan.
Generally, the road network in PCNTDA area is quite suitable. Currently, a 45 meter spine road that would connect Nashik highway to Mumbai Highway (at Nigdi) is being developed. However, the lack of direct road connectivity from this part to Chakan presents a lacuna that reflects on this location’s overall growth potential.

‘Poor Cousin’ Syndrome?

Chakan has already found favour by large-scale industries and Bhosari was already an established industrial area, since it had grown in tandem with other industrial areas in the PCMC. The quick progress of these two areas has attracted the bulk of road construction efforts, and away from the area known as Phase 2.
Paradoxically, Phase 2 offers the advantages of generous land availability and low real estate costs. It also has an enormous future market driver in the form of the International Convention Centre at Moshi, which is being jointly developed by the Maratha Chamber of Commerce and the PCMC.
This project is currently only in the proposal stage, but it will add immense value to this sector. When the ICC becomes operational, it will positively affect real estate value in the northern parts of the PCMC area, right up to Chakan.
Developers already active in this area have put the blueprint for its progress in place. However, the blueprint needs to be transferred from the drawing board to the shop floor.
A suitable road network connecting Phase 2 to Chakan and Bhosari could vastly improve its chances of catching up with these growth sectors – and of fulfilling its intended purpose as a new residential safety-valve for the increasing housing demand from the PCMC area.

Lacking – A ‘Potential Value’ Perspective

The potential of this key area apparently lacks from a recognition of its inherent future value. A closer look at its promise for the PCMC real estate market would very likely cause a more fast-paced development of its road network.
There are earlier precedents in Pune, wherein languishing areas were given fast-paced infrastructure upgrades because of an upcoming market catalyst. When the recent Youth Commonwealth Games loomed closer, the enhancement of Baner Road and Pashan Road were put on the fast track.
In the same manner, it is not unreasonable to anticipate that the PCNDTA will take cognizance of the fact that Pradhikaran’s Phase 2 is extremely important by virtue of the fact that strategically juxtaposed New Rajguru Nagar has now been identified as the location of Pune’s new airport.
This being the case, putting down adequate roads in this area will set the stage for immense future growth of this strategically placed locality.

Author: Mohammed Aslam is Head – Pune, Jones Lang LaSalle India.
This article may be reprinted with due credit to the author and a link back to PunePropertyBlog.com