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.

PCMC Launches Its First Eye Bank In Pimpri Chinchwad

eye
The Pimpri Chinchwad Municipal Corporation’s (PCMC) first eye bank, ‘PCMC Aditya Jyot’, was launched at Aditya Birla Memorial Hospital, Chinchwad, on Sunday on the occasion of the fourth anniversary of the hospital.
The chairperson of Aditya Birla Foundation, Rajashree Birla, inaugurated the modern eye bank facility. Chief executive officer of ABMH, Dr SP Singh, and other staff of the hospital were also present.
Rajashree Birla said donating an eye to an eye bank can result in restoring sight to someone else.
“I am happy at the launch of PCMC Aditya Jyot. The opening of the eye bank fulfilled a long-pending wish as it will go a long way in helping the visually impaired patients regain their visibility through transplanted eyes,’’ she added.
The PCMC Aditya Jyot is an integrated approach, based on PPP (public, private, partnership) basis, between Aditya Birla Hospital and the PCMC. The eye bank will be headed by Dr Ritesh Kakrania.
The standing committee of PCMC sanctioned Rs47.23 lakh for the facility.

Chinchwad School Goes Plastic-Free

(TNN, Nov 10, 2010)
PUNE: The New English School in Chinchwadgaon is going plastic-free with the management and students taking initiatives not to use plastic on the school premises.
The Paryavaran Sanvardhan Samiti, an NGO, took up the initiative to promote use of eco-friendly products. Vikas Patil, president of the samiti, said that this was the first school in Pimpri-Chinchwad that has decided to go plastic-free.
The campaign, no plastic thrown’, was started a couple of months ago. The students do not bring any eatables wrapped in plastic, nor do they use plastic carry bags, Patil said.
According to Patil, the idea was to create awareness about the ill-effects of plastic through lectures and presentations in the school. In turn, the students create awareness at home.
“Initially, there were lectures about solid waste management, water treatment plant, cleaning of rivers, among others. After seeing a keen interest, we decided to start the campaign no plastic thrown’,” he said.
This Diwali, the students were asked not to burst firecrackers leading to noise pollution.
As the next step, the samiti plans to start vermicomposting, water recycling, reuse of notebook and paper, and reuse of chalk powder in the school. The campaign will be extended to other schools also.

Pune’s Cashless Bus Travel Project Nears Launch

(Indian Express, Nov 09 2010)
Pune is set to be the first city in the country to experiment with a common mobility card to enable commuters to travel cashless in city buses. The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) is making arrangements for an early launch, but whether the date will be November 14 as announced earlier, will be decided on Wednesday.
The PMPML, in association with the Unit Trust of India (UTI) Bank, is rolling out the plan and a UTI team had recently visited Pune to see how things could be worked out.
As reported in September, the PMPML had made it public that it will introduce the common mobility card in Pune and Pimpri-Chinchwad as part of a Central government project. The concept of single ticket for all systems of public transport has been envisaged in the National Urban Transport Policy. The funding will be shared by the Centre under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
“We have organised a meeting with UTI officials to finalise how the plan can be launched soon. However, details will be disclosed after the meeting on Wednesday,” PMPML Chairman and Managing Director Dilip Band said.
Under the plan, a commuter would be able to travel on trains and buses using a single card and without buying any ticket once transport operators modernise their fleet to make smart card usage possible. The card is used in many developed countries. The Union government had selected Pune for a pilot run in buses.
Another senior PMPML official said, “The UTI team recently paid a visit to see how things could be worked out for the common mobility card. They collected necessary information. We have started preparations to keep necessary infrastructure in place. Hopefully, very soon, the terms and conditions will be finalised and signed.”
As per the preliminary plan, each card will cost Rs 40 and will be sold at authorised outlets. Card-readers installed in buses will calculate the fare from the boarding to disembarking points. Money will automatically be deducted on swiping the card. Cards will be available at around 50 centres in Pune and Pimpri-Chinchwad.

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.

Pimpri-Chinchwad To Get Central Fire Station

The industrial town of Pimpri-Chinchwad will finally get a well-equipped central fire station. It will be spread over 5 acre in Pimpri-Chinchwad-Bhosari industrial area where fire incidents are common throughout the year.
Municipal Commissioner Asheesh Sharma said the Maharashtra Industrial Development Corporation (MIDC) has sanctioned the land. “Within next few days, we hope to get the approval from the MIDC for setting up the central fire station,” he said. The civic chief said the existing fire sub-station at Sant Tukaram Nagar was too small and did not meet the requirement of a growing town like Pimpri-Chinchwad. “The central fire station will be well-equipped with latest fire tenders and rescue and recovery vans. A separate budgetory provision has already been made for such a central fire station,” he said.
The central fire station will come up close to poligrass stadium and Rose Garden in Nehrunagar.

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

(Indian Express, Oct 17 2010)
Copy-of-tax
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.

PMC Appoints Retired Judge to Arbitrate Pending Pune Property Cases

(TOI, October 11, 2010)
PUNE: The standing committee of the Pune Municipal Corporation (PMC) on Monday appointed retired high court judge R N Bapat as special arbitrator to hear its pending property and water tax court cases and settle disputes.
“The civic administration proposed the name of retired high court judge R N Bapat as the special arbitrator,” said standing committee chairman Arvind Shinde.
Shinde added that there are nearly 210 unsettled property tax cases which have caused revenue loss of Rs 51 crore. “There are also many pending water tax cases, with dues worth Rs 210 crore. Appointment of an arbitrator is aimed at saving time by settling matters outside the court. The arbitrator will mediate between the disputing parties,” said Shinde.
According to the standing committee decision, Bapat will be given a contract of eleven months with a monthly payment of Rs 22,000 to hear prolonged court cases and to settle property tax disputes. He will also get an additional amount for hearing cases of water tax.
In 2006 Bapat was given the task of settling 65 property tax disputes resulting in a recovery of Rs 2 crore for the PMC.