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.

PMC’s Proposal To Extend Duration Of Lease Period Faces Opposition

(TOI, Nov 7, 2010)
PUNE: The civic body’s proposal to extend the duration of the lease period of civic properties is mired in controversy with civic activists alleging that the Pune Municipal Corporation (PMC) has not prepared a draft for the changes proposed in the policy.
Six years after it became the first civic body in the state to have a land lease policy, the PMC now wants to extend the duration of the lease period from the current 30 years to 99 years. The policy was ratified by the Bombay high court.
The PMC has invited objections and suggestions from citizens to the proposed changes. The suggestions and objections should be sent to the land and property department of the civic body within a fortnight from November 3.
“The PMC has not prepared any draft to seek suggestions and objections on the proposed change. On what basis should citizens register their suggestions and objections?” civic activist Vijay Kumbhar asked. Kumbhar and other activists have approached the municipal commissioner on this matter.
Deputy commissioner (land acquisition) Sudhakar Telang, however, said that the suggestions and objections were sought only to extend the duration of the lease period. “If citizens want to go through the existing policy it is available with the PMC. Suggestions and objections have been invited only on the issue of duration,” said Telang.
At present, the civic land lease policy bans the PMC from selling its properties, but allows it to lease the property for 30 years. The PMC has leased out many of its properties, including open spaces.
Activists allege that most properties have been leased out to organisations and people with connections to corporators and politicians. In 2003, Kumbhar had approached the high court which had ordered that civic properties be leased only through a tendering system.
The civic body owns about 3,500 properties reserved for hospitals, community halls, libraries, schools and other amenities. Many properties have been leased out for various purposes, but there is no system in place to check whether the properties are being used for the purposes they have been leased out for. The PMC has not recovered rent from hundreds of properties for several years.

PCMC To Levy Penalty On Property Tax Defaulters

(TNN, Oct 18, 2010)
PUNE: Propoerty tax defaulters in the Pimpri-Chinchwad township will have to pay a penalty of two per cent of the tax amount per month from this year, said Shahaji Pawar, assistant commissioner, Pimpri-Chinchwad Municipal Corporation (PCMC).
Pawar added that municipal commissioner Ashish Sharma had approved the proposal based on the new government resolution (GR) permitting civic bodies to levy penalty on defaulters.
There are 2.71 lakh properties in the municipal limits. The PCMC property tax department had, for the first time in the 26 years of its existence, crossed the Rs 100 crore collection mark in 2009-10 with the collection of Rs 106 crore. The department auctions properties of defaulters if they fail to clear their outstanding dues. The department had initiated auction against 315 properties and mopped up Rs 2.87 crore from these defaulters in 2009-10.
Pawar said, “Property tax payers have to pay the tax for the first six months of the financial year till September 30 every year. If they fail to pay the tax in this period, they will have to pay a penalty of two per cent of the tax amount from October 1 onwards. The tax for the second half of the financial year has to be paid by December 31, failing which taxpayers will have to pay the penalty from January 1 onwards.”
He said that for 2010-11, people should pay the tax for the first six months by October-end to avoid payment of penalty.
The state government had issued a GR on June 5, 2010, empowering municipal corporations to charge two per cent penalty per month for delay in payment of tax. The Pune Municipal Corporation decided to implement the GR a month ago.
The property tax department starts sending property tax bills for the first six months of the financial year from June, giving three months time to pay the tax. The bills for the second half are sent from October onwards.

Rs 18-Lakh Dues In 15 Days From Pune Property Tax Defaulters

(Indian Express, Oct 17 2010)
Over the past fortnight, the Pune Municipal Corporation (PMC) has collected Rs 18 lakh property tax dues, including the penalty, from nearly 16,000 defaulters. The civic administration decided to impose a fine of 2 per cent on people who have property tax dues in their names.
Based on the directions issued by the state under the Bombay Provincial Municipal Corporations Act of 1949, the move came into effect from October 1. Owners of 2.5 lakh properties, out of 6.8 lakh assessed, have to pay the 2 per cent penalty. The civic body is looking at collecting approximately Rs 2 crore exclusively through the penalty this year.
“We started imposing the penalty on property tax from October 1. We found that out of 6.8 lakh assessed properties, there are about 2.5 lakh owners, who are yet to pay their property tax dues. While some of them had not paid tax in the first semester, some others had not paid the tax over the past couple of years,” said Vilas Kanade, chief of the property tax department.
He said though the people were complaining about the penalty, they have no option but to pay up. “Till Friday, about 16,000 property owners paid their dues worth Rs 18 lakh, inclusive of the penalty. This move is likely to provide an additional revenue of Rs 2 crore this year,” said Kanade. The property tax bills are distributed to property owners within the city limits twice a year, with a six-month division. For 2010-11, property tax had to be paid before September 30. The second installment has to be paid by December 31, 2010.
While the property tax collection in 2009-10 was Rs 370 crore, this year the initial six months have given the civic body Rs 320 crore of property tax. This year, the tax collection department has set a target of Rs 500 crore, the official said.

Pune Real Estate On A High Trajectory

(TOI, Oct 13, 2010)
PUNE: Prices of the city’s residential property are witnessing a rise, if market observations of leading realty research firms are an indication. Rentals of commercial space are also witnessing an upward movement, though the market cannot yet be called a heated one, the firms have said.
Rates in different parts of the city have recorded anything between 15 to 25 per cent rise in the past one year or so, rising customer interest being one of the factors, the observers added.
“As far residential properties are concerned, the sector is moving again for the last six months or so. Previously, we had thought the returning demand will fizzle out by April, but that has not been the case. The impression one gets is that Pune’s home buyers are once again convinced of the long-term potential of their investments,” Mohammed Aslam, Pune head for real estate advisory Jones Lang LaSalle India told TOI.
“I won’t say that the market is back with all guns blazing, but matters have improved considerably. Residential sales and retail lease figures for the month of July 2010 look astonishingly different than from this time last year, Aslam of JLL said.
For mid-income homes, the hottest-selling locations are now in western Pune, he observes. Buyers have the widest choice there because of the large number of projects popping up all over Hinjewadi, Wakad, Pimple Nilakh, Pimple Saudagar, Aundh and Balewadi. Secondly, this influx of projects is serving to keep prices affordable. In western Pune, average residential property rates start at around Rs. 3,200 per sq.ft. and hover around Rs 4,000 per sq.ft. The most popular price tags for homes in these areas are between Rs. 30 to 40 lakh.
Manish Aggarwal, executive director, investment services, Cushman & Wakefield India (C&W), said, “With India’s economic environment showing signs of stability and buoyant growth, coupled with improvement in affordability and access to finance, housing demand in the country is expected to witness a revival in the near future.”
According to the C&W report, Pune is expected to witness the highest demand in residential sector after National Capital Region (NCR) and Mumbai. Pune is estimated to witness a demand of 2,70,000 housing units by 2014, the report says. “The growth in demand for residential units in Pune can be attributed to rapidly growing city population (both migratory & local), coupled with improvement in economic environment with stimulate growth of both IT and manufacturing sectors in this city,” the report adds.
Real estate advisor Ravi Verma, a former official of the National Association of Realtors, said, “The residential market is moving briskly and both high-end and economy segments within the residential sector are doing well. There is however a warning here, that the prices are rising slowly but definitely.”
Offices segment, on the other hand, has yet to pick up speed, as there is a sizeable overhang of stock created or planned prior to the economic slowdown of 2008-09. Verma said the information technology sector which drove most of the deals in the early part of the decade is still slow in absorption of space and so are the retail and commercial spaces.
Aggarwal said, “The overall demand for commercial office space is subdued in comparison to the supply which is estimated to be approximately 400 million sq.ft during 2010 to 2014, implying caution and the need for quality supply at the right prices.” According to him, the demand for retail space across the country is estimated to be 55 million sq.ft; of which the top seven cities will witness approximately 53 per cent.
The total mall supply expected between the period under review is approximately 93 million sq.ft. NCR, followed by Pune, is likely to witness the highest demand-supply gap over the next five years, with supply overshooting demand.

PCMC To Issue Show Cause Notice To Contractor

PUNE: The contractor responsible for cutting down trees and shrubs on the Pune-Mumbai highway near Alfa Laval in Kasarwadi will be served a show cause notice by the Pimpri-Chinchwad Municipal Corporation (PCMC) on Monday.
“Shrubs and small trees planted by the garden department to beautify the Pune-Mumbai highway have been cut without permission,” said Suresh Salunke, chief of the PCMC’s garden department. “The show cause notice will be issued to the contractor after PCMC offices open on Monday.”
According to Salunke, “The contractor has removed a 30 m-long road divider between the service road and the concrete lanes of the Pune-Mumbai highway, near Alfa Laval. It was removed to create a new exit point for vehicles on the concrete lanes to access the service road since the construction of a flyover at Nashik Phata is in progress. The contractor should have taken the permission of the garden department and the tree authority before cutting down the trees and plants. He was told to take permission regarding this but he still went ahead and cut them down.
“Action will be taken against the contractor under provisions of the Maharashtra Urban Areas Tree Act 1975,” said Salunke. “A fine of Rs 5,000 can be imposed on the violator and a case can also be lodged against him.”
Nandkumar Saturdekar, former member of the PCMC’s Tree Authority stressed the need for maintaining the green cover of the township. “The trees and greenery in the industrial township of Pimpri-Chinchwad needs to be protected to withstand the effects of rapid urbanisation like pollution.”

IT Firms In PCMC Areas To Get Octroi Concessions

(Times of India, October 9 2010)
PUNE: Information Technology (IT) industrial units which will be set up in special economic zones in the Pimpri-Chinchwad township will get concessions in octroi on certain items from next month. The state government recently approved a proposal to this effect.
According to civic officials, the municipal corporation had sent a proposal to the state government last year to give concessions in octroi on certain items for IT units in SEZs. The units will be exempt from paying octroi on these items for a period of five years. The list of items which will be exempt from octroi will be notified by the municipal corporation.
According to a government resolution, the IT industries will first have to pay octroi to the municipal corporation. They will have to submit the necessary documents and then seek a refund from the municipal corporation.
The government has pointed out that the concession in octroi for industrial units in special economic zones is in accordance with the government’s SEZ policy to attract investments in the state. PCMC had invited suggestions and objections from citizens regarding the proposal to grant octroi concession. However, no suggestion or objection was received, civic officials said.

Court Tells Govt To File Report On Misuse Of Urban Land Ceiling Act

(Hindustan Times, October 08, 2010)
Complete the examination of 29 of the 235 files on orders passed under the Land Ceiling Act by allegedly using fake documents, the high court on Thursday asked retired IAS officer Sudhakar Joshi. Joshi was appointed by the state government to examine more than 235 orders passed under the Urban Land Ceiling and Regulation Act, 1976, by allegedly using fabricated documents. A division bench of justices BH Marlapalle and UD Salvi asked Joshi to submit a report by October 14. Ravi Kadam, advocate general, informed the court that Joshi will complete the examination of the 29 files within a week and the Urban Development Department may take decision on the same.
On September 15, Joshi had told the court that he has been able to examine only 120 files. The high court subsequently asked the government to select 29 files as model cases for examination on priority basis.
The court is hearing a PIL filed by Madhav Bhandari, Bhartiya Janata Party spokesperson, claiming that Yogesh Mhase, officer on special duty to then home minister RR Patil, and some government officials were not arrested in a case of alleged fabrication of documents under the act.
The PIL stated that between 1976 and March 2005, 11,894 returns [statement of property extracts and details of persons having interest in the land] were filed in the Pune urban agglomeration. The probe was handed over to the Criminal Investigation Department in November 2005.
In response to the PIL, on October 5, Thane police commissioner SPS Yadav had filed an affidavit that the investigating officer, Avinash Mokashi, had falsely implicated government officials and made allegations against senior police officials because he was transferred out of the Crime Investigation Department.
Yadav also gave a clean chit to Mhase saying that there was no evidence against him. Mokashi is now posted at the Badlapur police station.
Ashish Chavan, Mokashi’s advocate, told the court that he will file an affidavit by next hearing. Ganesh Sovani, petitioner’s counsel requested the court that former Pune commissioner, Jayant Umranikar, be asked to file an affidavit.

Pune Slum Rehab Projects May Get 2.5 FSI Soon

PUNE: Like the slum rehabilitation projects in Mumbai, the project in Pune and Pimpri-Chinchwad may also get 2.5 FSI (floor space index), chief minister Ashok Chavan said here on Friday.
Speaking at the inauguration of the Rajiv Gandhi housing complex at Kashiwadi, Chavan stressed that with the additional FSI, people should get small houses at affordable prices. At the function, Chavan handed over the ownership papers of the tenements to the people whose houses had been destroyed in a major fire in March 2005 in the Kashiwadi slum area in Bhavani Peth. Chavan appreciated the initiative taken by state minister for home Ramesh Bagwe for completing the housing complex despite several administrative and other social hurdles.
“I had received representations from various leaders saying that just as the government has sanctioned 2.5 FSI for slum rehabilitation schemes in Mumbai, the same should be made applicable for Pune city. The government will soon issue orders to this effect for Pune and Pimpri-Chinchwad. With this additional FSI, I don’t expect to see tall buildings. The buildings should have maximum number of small houses which should be available at affordable rates to the common people,” Chavan said.
He observed that buying houses in the city has become highly unaffordable and this is the reason why there is proliferation of slums. The government, he said, is taking up an elaborate programme for rehabilitation of slums. In rural areas too, people below poverty line would be able to get houses at very low prices. The government, he said, will be building ten lakh low-cost houses in rural areas.
Explaining the significance of the launch of the Unique Identification Number from Maharashtra, Chavan said the state will soon revamp the welfare schemes for the poor so that they get maximum benefits without any hassles.
Others who spoke on the occasion included state minister for marketing and co-operation Harhavardhan Patil, Congress secretary Pravin Rashtrapal, and Avinash Bagwe. Bollywood actor Vivek Oberoi made a surprise appearance at the programme.