Property Times - 26 Nov.11 - Comments by Ravi Marda

WEST CALLING

Good connectivity and robust demand from the IT sector has strengthened the real estate market in western Pune, says SHILPA SACHDEV

    The western corridor of Pune is home to some very attractive and popular destinations for residential housing. Areas like Hinjewadi, Aundh, Baner, Balewadi, Pashan, Wakad, Kothrud and a large area of the Pimpri Chinchwad Municipal Corporation constitute the bulk of the western region. The demand drivers
    for west Pune range from its flawless connectivity, strategic location and presence of Information Technology that makes it a desirable address.
    Sanjay Bajaj, Managing Director - Pune, Jones Lang LaSalle India says, "The western side of the city is advantageously connected to the Expressway, which allows easy and speedy access to Mumbai. It has major IT Parks of Hinjewadi, Baner and Aundh in the neighbourhood, while also offering great connectivity to the industrial pockets of Chakan, PCMC and Talegaon. Besides, Pune's western side is high on serenity and natural beauty, which contributes to its popularity among home buyers. The western side has a very healthy demand for housing. This demand is driven both by the local industries and investors from Mumbai who are purchasing residential housing in this corridor."
    According to Bajaj, currently, the locations that are attracting the highest demand for residential properties are Aundh, Baner, Wakad and Pashan. Talking about the area, he says, "The key industries which have witnessed consistent and accelerating growth in the western parts of Pune are Information Technology, education and manufacturing. Retail is also beginning to take off convincingly on the western side, with three large malls being planned there. A new road is planned along Baner which will improve access to Hinjewadi. This will drastically reduce the travel time and also encourage IT companies to continue their expansion plans within Hinjewadi. The growth of the IT and manufacturing industries is extremely robust in the western region, and demand for housing will continue to be very healthy there."
    Top city developers have launched an array of inviting projects in the western part of Pune. Every project is conceptualised
differently giving the buyer a variety to choose from. Shyamkant Kotkar, MD and Chairman, Nandan Buildcon Pvt. Ltd. says, "The western region has a good mix of IT, education, hospitality and industry. The interesting part is that earlier, people would have to go to Koregaon Park if they wanted a high-end apartment but today even in the western region, quality residential real estate is readily available. For example, in Aundh, we have projects like Nandan Festiva and Nandan Aspira where the flat size is huge, 4600 sqft and 3600 sqft respectively. Innovating it further, we are just providing a bare shell; the customer can decide how many rooms and walls he wants. This comes with a lush 5000 sqft terrace. We launched the project a month ago and have received good response from the buyers."
    Baner and Wakad are other growing locations in the western belt of Pune. Kotkar adds, “In fact, the response to our project Nandan Inspera at Wakad has been phenomenal. The entire project is booked; we have a waiting list of buyers wanting to buy at Wakad. We will also be launching a new project in Baner next year, which has been planned taking into consideration the inputs from our existing customers; this helps us plan
the project better. The western region is very resident-friendly as it enjoys good connectivity and social infrastructure. However, the government needs to spruce up the infrastructure with better roads, flyovers and possibly a Metro to provide good transport facilities to the people residing in the area."
    Backed by a strong IT demand, the western region enjoys consistent demand leading to better returns on investment. Ravi Marda of Eye Properties says, "Luxurious and premium projects are coming up in the Aundh-Baner-Pashan belt. The western part of Pune is wellconnected to the IT hub of Hinjewadi. It is centrally located as it is not too far even from the city centre so balancing a lifestyle is easier if you are living here. The demand is made up of essentially the IT segment working here or people who want to expand and buy bigger homes. The region is also well-connected to the Mumbai-Pune Expressway and the Pune-Bangalore by pass. Small township projects have come up in this area offering holistic lifestyle to the residents. The Balewadi Sports Complex is open to the public. In a range of Rs 4000 to Rs 8000 per sq. ft, one can find homes in the western region of Pune, giving a wide choice to the home seeker. What is better is the rate of appreciation it offers could be easily 20-25% in the next three years."
    Ranjit Naiknavare, Director, Naiknavare Developers adds, "The growth began with residential development but today a lot of commercial development in the region is driving its potential. The Hinjewadi IT Park has become a focal IT zone in the region that houses a number of leading companies. A host of shopping centres and multiplexes have come up on the Baner road. Many hotels have come up in the western side of Pune. The Bhugaon-Ambegaon belt is also developing. Some of the key reasons for the growth of western Pune are the huge automobile industry at Chakan, the education institutions, the IT growth, the proximity to Mumbai-Pune Expressway and the safe environment it offers."
    Educational institutes like Sinhagad college, Indira college, MIT to even a part of Pune University begins from the west. Five-star hotels like Seasons, Holiday Inn, Marriott Courtyard are already present in the western region. Hospitals like Lata Mangeshkar Hospital, Aundh Chest Hospital, Sahyadri Hospital, Medipoint are some wellestablished medical centres here. Naiknavare states that the demand on the western side of Pune is much better than anywhere in the city making it the most favoured destination. It results from a combination of factors like the comfort level, the job opportunities, presence of relatives around. "It was a populous area and people have continued to come in. The demand always works on a social principle. Pune is no longer a tier II city; it is turning out to be a metro as the population has exceeded 50 lakh," he shares.
    In the last one year, maximum launches of new projects have happened in the western belt of Pune points out Shantanu Mazumder, Branch Head - Pune, Knight Frank. He says, "Areas in west Pune like Aundh, Baner, Balewadi, Bavdhan, Pashan and north west Pune like Pimple Saudagar, Wakad, Ravet, Hinjewadi, Tathawade are seeing good demand. The connectivity to the Expressway is a strong advantage. Also, major IT players are operating in this region, which add to the demand. Over the last few years, the accessibility has improved, making the western region easily accessible also to the industrial corridor around the PCMC area.”
    He continues, “The western region is home to many good colleges making it an educational hub that has opened up a lot of opportunity. Demand is also coming in from the industrial areas of PCMC, Pirangut-Bhosari. A development has been proposed to connect PCMC area to the highway. The Wakad road is under wide-laning; this will facilitate travel to Hinjewadi is flat 20 minutes. There is no end to the potential of this region. Earlier development was restricted to just Wakad but now it is going beyond to areas like Ravet and Tathawade as well. Also, the price point ranges from Rs 3000 to even Rs 8000-9000 per sqft, hence one gets to choose from a wide variety based on the ticket size."
    As demand continues to pour in, the western side of Pune is all set to reach new heights in the coming time.
QUICK BYTES THE WESTERN REGION HAS A GOOD MIX OF IT, EDUCATION, HOSPITALITY AND INDUSTRY A NEW ROAD IS PLANNED ALONG BANER WHICH WILL IMPROVE ACCESS TO HINJEWADI 

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Property Times - Pune quoted comments of Ravi Marda on 13th Aug 2011

Ravet has become a popular destination for residential housing ...

CONFLUENCE POINT

Showing immense potential, Ravet has become a popular destination for residential housing and the growth is only expected to get stronger in the coming times, says NISHA SWAMI

    Ravet is located on the north-west side of PCMC (Pimpri Chinchwad Municipal Corporation) and Pune. Ravet is among the most promising of the upcoming residential locations in the Pune
    property market. It is situated at a confluence point of the old NH4, the Katraj-Dehu Road bypass and the Mumbai-Pune Expressway. Moreover, it is located equidistantly from two major real estate market drivers - the Hinjewadi IT hub and Pimpri-Chinchwad industrial belt.
    Pharande Spaces and the Rama Group have joined hands at Ravet in launching an integrated residential township called Celestial City. Located in the central part of Ravet, this project is spread over 25 acres and will be developed over three phases. Talking about this project, Sujata Dasani, Manager, Marketing & Sales, Celestial City says, "We chose this area as it is very close to the Express highway and it is one of the biggest projects in Ravet. Ravet is an upcoming region and is developing very fast and we decided that this was the perfect place for the project. The project offers 2BHK and 3BHK luxury apartments."
    There are many residential projects coming up in the district. Om Tropica Pune, a residential project covered by Om Developers, is located at Ravet. The project presents 2 and 3 BHK luxury apartments with state-of-the-art amenities and infrastructure. Scattered over total land of 965 sq. ft. - 1296 sq. ft., the project is coming with a very affordable price rate according to investors' budget. Every apartment of the project is equipped with amenities such as swimming pool, kids play area, garden, gym, club house and the like.
    Satish Kestikar, General Manager, Marketing & Sales, Om Developers says, Ravet is a growing zone and is far better developed than Wakad. “The locality is not completely developed which gave us a chance to establish our projects here. It is also very good from the investment point of view,” he says. “People like the surroundings and it is close to the express way, the shopping malls and the railway station which is a great boon for the residents around here. Most of the apartments, around 98% of them have been booked and this project is an ongoing one and will be ready very soon.”
    Apart from its accessibility, there are other important establishments close to Ravet that add to its value as a residential location. These include the Aditya Birla Hospital, the Bajaj Auto manufacturing plant, SKF, Telco and major educational establishments such as the Indira Institute of Business Management, D.Y. Patil College as well as the Mercedes Benz School. Its proximity to the Hinjewadi IT hub is of strategic importance, since this fact makes it a new and affordable residential location for the software employees working there.
    Pravin Wawre, who works in Ravet says, "The area is very strategically located. It is close to the Chinchwad area which is a big shopping area, the highway is close by, around six to seven kms away. Hinjewadi, another area that has a lot of schools and colleges, is also nearby. A lot of builders and developers have come to this area and more projects will be coming up in the near future. Travelling within the area is hassle-free. There are share autorickshaws that take you from place to place. Even the climate is very pleasant all the year round.
    Ravet is also very close to the upcoming cricket stadium at Gahunje village off Mumbai-Pune Expressway. It will be the home ground for the Pune IPL team and will be a short drive from here if one wants to catch the action live. In addition, many malls, holiday destinations and entertainment zones are coming up around Ravet. Weekend getaways like Lonavala, Khandala are hardly 30-minutes’ drive from here.
    Property analyst Ravindra Marda tells us about the current situation in Ravet. "The rates in the area are in the range of Rs. 2,600-Rs. 2,900. The main builders here are the Rama Group and Pharande Spaces as they have established the largest projects in Ravet. People have convenient access as it is close to the highway and it is situated right in the middle and can be reached through the bypass road. It also has good connectivity with the neighbourhoods like Akurdi. Ravet is perfect for IT and automobile employees as there are many offices in the vicinity.”
    Pradhikaran is the Pimpri Chinchwad New Township Development Authority (PCNTDA). It was set up as the apex Town Planning body to ensure the systematic development of the residential zones of the predominantly industrial Pimpri - Chinchwad.
    Pharande Spaces have their projects in Ravet. Anil Pharande, Chairman, Pharande Spaces says, "Ravet is the most potential area in the vicinity which is why we chose this place for our projects. It is also the central point of the industrial belt and a lot of people who have bought apartments are from the business class as it is very easy travelling to work and back. It is also a very well planned and organised having all the basic necessities for the people living here. We are also planning a fully equipped township in Ravet as we have got a very good response from the other projects. This township will be ready in a few months. The current rates for residential housing is in the range of Rs. 3,200-Rs. 3,500 per sq. ft."
    On future plans and development in Ravet, Mohammed Aslam, COO - Residential Services, Jones Lang LaSalle India says, "Rates are welcomingly low in Ravet, and the appreciation potential is undoubtedly high. It is therefore not surprising that some major names from PCMC's developer community have taken an active interest in this lodestone location. We expect it to reach a high level of investment and end-user potential in less than four years, after which rates should show significant and steady upward movement."
QUICK
BYTES RAVET IS LOCATED EQUIDISTANTLY FROM TWO MAJOR REAL ESTATE MARKET DRIVERS - THE HINJEWADI IT HUB AND PIMPRICHINCHWAD INDUSTRIAL BELT
IN ADDITION, MANY MALLS, HOLIDAY DESTINATIONS AND ENTERTAINMENT ZONES ARE COMING UP AROUND RAVET

Times of India (Pune) - Property Times quoted comments of Ravi Marda on 12th Feb 2011

Times of India (Pune) - Property Times quoted comments of Ravi Marda on 12th Feb 2011.

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DESTINATION NEXT
With new developments coming its way, Chakan is shaping up as a potential destination for investment in Pune, says SHILPA SACHDEV

There are many reasons why Chakan will strike a chord with those looking for a reasonable home deal. Although the infrastructure in Chakan needs to be worked upon, which will hopefully spruce up as more developments flow in, the place has already attracted a solid presence on the real estate map of Pune.
The buzz of automobile companies that have chosen the Chakan-Talegaon belt as their hub has sparked the interest of many. The news of the international airport is another growth driver. Not to forget, the attractive price tag that makes it a steal to buy a home here.
Anil Pharande, Chairman, Pharande Spaces says: “The Chakan-Talegaon belt has developed well as an industrial corridor and is coming up as a twin city like Pimpri-Chinchwad. The place is good for industrial planning. To support the industrial growth, there should be comprehensive planning from the Government and MIDC for good residential development. Along with residential, there should be proper provision of infrastructure by creating bridges on the river and connecting other parts of the city to Chakan and Talegaon.”
The industrial growth in Chakan is getting stronger by the day and in a way it has spurred the demand for housing. Property analyst Ravi Marda says: “The Chakan MIDC is fully established. A proposed Bharat Forge SEZ is about to come up here. Many global automobile companies like Volkswagen, Mahindra, Bajaj Auto have established their base in Chakan. The residential demand here is greatly generated by the employees working in these companies. Talegaon is another fully established MIDC. The 25-km long Chakan-Talegaon road has companies like General Motors, JCB and many other bigger companies. Bhosari is another industrial hub which is well connected to Chakan. The national highway that connects Pune to Nashik also shares connectivity with Chakan. Moshi is another place near Chakan that is coming up. The international convention centre is supposed to come up at Moshi. It is going to be the biggest convention centre in Asia and will have a few 3-star category hotels within its layout. Many developers have come up with big township projects in Chakan. The Chakan-Talegaon-Bhosari triangle will shape up like Detroit in USA.”
Interestingly, Chakan is home to many residential projects spread over a large expanse. Rupesh Agarwal, Joint MD, Sara Builders and Developers: “We have a 50 acre project in Chakan called Sara City. With 3500 apartments, the township has all the necessary amenities like schools, clubhouses, retail and so on. About 500 flats have been delivered as of now. Chakan is like Hinjewadi five years back. With the amount of automobile companies that have set shop here, it has turned into an auto cluster. The international airport is also proposed at Chakan. The Courtyard by JW Marriott is already under construction. It is a great location for those looking for a good investment because the future potential of the place is immense. By 2014, Chakan will be flourishing. Also, the price tag being in the bracket of Rs 2,000, it is a big driving factor as compared to prices in the rest of Pune. The walkin to conversion ratio is 20 per cent, which is good. We are also going to launch another 10-acre project in Chakan in October this year.”
Ranjit Naiknavare, Director, Naiknavare Developers Pvt Ltd makes an interesting observation on how Chakan makes sense for large layout projects. "Chakan has the presence of many industries and hence the road network is excellent. But the other social infrastructure like enough schools, hospitals, shopping is still developing. The attraction to Chakan has been the competitive price range as compared to the rest of Pune. But having said that, the customer will also look out for proper infrastructure in the area. As a result, for any project to come up in Chakan, it has to be a holistic plan, which will provide the social infrastructure along with residential units.”
He continues, “In our township project at Chakan called Dwarka, which is spread over 130 acres, a school is already in operation and within this year the shopping mall and hotel should start functioning. The basic shopping is however already in place with a restaurant too. About 700 flats have been handed over out of the 6,000 apartments on offer. While planning the project, we also did the hard work of getting the basic infrastructure in place like getting the water line connected. Customers too prefer to invest in an all-inclusive project so for developers with a holistic plan in mind, the market in Chakan is huge. We are also coming up with a 50-acre project in Talegaon. We are very bullish on the north-west corridor of Pune, which is seeing demand not only from the industry but also the IT sector. The key reason has to be the prices in the range of Rs 2,000 per sq ft as a result people find it affordable and worth investing.”
Chakan offers a competitive choice to those looking to buy a home in Pune because the place has tremendous potential for the future.
(Inputs: Neha Dani) QUICK BYTES
MANY GLOBAL AUTOMOBILE COMPANIES LIKE VOLKSWAGEN, MAHINDRA, BAJAJ AUTO HAVE ESTABLISHED THEIR BASE IN CHAKAN CHAKAN IS HOME TO MANY
LARGE TOWNSHIP PROJECTS
AND MORE ARE ON THE ANVIL