Latest Property News on 'Pune'

Pune Realty Gets New Push by Rs 9,000 crore Township

Earlier, Pune real estate was seeing no appreciation but the scenario has suddenly changed. Thanks to the City Corporation Limited Promoted Amanora Township project, which has already begun fetching prospective investors. Even before the launch was formally announced, the project saw a multitude of investors lining up for bookings.

The project boasts of selling off 50 apartments in a week at an average rate of 3,600 per sq ft. An apartment falling under the range of 1,200 sq ft – 3,900 sq ft. costs in between the range of Rs 50 lakh – Rs 1.5 crore. The construction of the first flat will not be over even 20 months from today. Amanora is a 16,000 apartment project, yet selling does not seem a major problem. Read More »

Property Taxes Go Up in Pune Cantt

The Pune Cantonment Board (PCB) has hiked the residential and commercial property taxes of all houses and establishments in Pune Camp.

PCB chief executive officer (CEO) S.K. Sardana told that the measure would help to increase the board’s revenue by 10-12 percent during the fiscal year 2006-07 . Property tax rates in Pune cantonment were last revised in 2003.

According to the new rates, domestic property tax will go up by 10 per cent and commercial establishments tax by 20 per cent. This will affect more than 15,000 households and around 8,000 commercial establishments. Read More »

Property Boom Shifting to Pune

Located on outskirts of Maharashtra, Pune is fast emerging as one of a common hunting ground for the multinational companies. This has made the city a hot commercial property market for the past few years. Indeed, several factors are there accountable for bringing Pune real estate investment in the limelight. The list includes low rate of interests in banks, fixed deposits, falling returns on mutual funds.

Pune property market possesses immense potential which is further evident by its comprehensive growth that is believed to shoot up more in approaching years. Despite being a small city, it’s not at all rare to spend a day in Pune viewing at a series of big malls and array of big buildings which showcases the fast development taking place. Read More »

IDEB to Push Pune Real Estate with Its Share of Investment

IDEB Group is drawing plans to make large investments in Pune real estate on a large scale.

The group is putting its vision on course with the development of a residential project Viaalgio Toscana in the city’s up market Kondhwa locality. It may also take development of prestigious real estate projects and hotels in the next few years.

Also, the group plans to construct a six million square feet residential project Villagio Toscana which boasts to feature exclusive accommodation units.  The project will be over by the next two years, says Harkirat Sing Bedi, director of IDEB. Read More »

Real Estate Academy for Developers to Come Up in Pune

Pune’s property developers are soon to establish a Real Estate Academy for Developers (READ). The move is taken to stay in step to fulfill the requirement of qualified and trained professionals to manage the growth.

The Promoters and Builders Association of Pune (PBAP) is looking forward to set up a real estate project worth Rs.1.48 crore. The institute would use its own capital and has its own faculty. The institute will nurture the future leaders of Indian real estate sector. Read More »

Peninsula Land on an Expansion Mode

Peninsula Land, the sister company of Ashok Piramal group, has notched up a 100-acre Special Economic Zone (SEZ) in Pune for Rs 85 crore where it will develop a 45 lakh sq ft information technology park.

This is Peninsula Realty’s first project in Pune, and the company expects to develop around 1.5 million square feet of space for leasing and sale to IT companies. Read More »

Falling demand for Mid-priced flats in Mumbai

Mumbai’s market for medium price segment flats seems to have started slipping. The prices of flat in the price band of Rs 40 lakh to Rs 90 lakh, is tapering off in the major suburbs and a decline of around 25-30 % has been noticed in the last two to three months.

Increasing prices in some locations, investors’ growing appetite to buy properties in fast flourishing cities like Pune, Nasik, Thane, and release of stringent credit norms by banks are some of the major reasons responsible for sinking demand for mid segment flats, says real estate connoisseurs. Read More »

Dreams Coming Alive for SkyVillas

You drive past that gracious villa with its red tiled roofs sloping down to the expansive portico below and you long to cross over the white picket fence and call it your home. But then, other thoughts cross your mind. The effort of walking up the stairs for every small need, and maintaining the precincts is a dampener, and you drive back to the compactness of your apartment.

SkyVillas has an ambitious project coming up in Kharadi which is set to change the way you live. Combining the comforts of an apartment with the luxury of a villa, Gera Developers’ latest offering is the result of surveys conducted in focus groups. 80% percentage of respondents interviewed aspired for grandiose country homes without missing out on the convenience of an apartment. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »

Specialty Mall For Interiors & Exteriors

Shopping for interiors and exteriors requirements in Pune is soon to acquire a new meaning, courtesy Ishanya, the upcoming specialty mall for interiors and exteriors. Promoted and developed by the Rs 600-crore Deepak Fertilisers (DFPCl) group, Ishanya aims to be a one-stop shop for over 52 categories of products servicing the building and interiors industry and the first of its kind total solutions provider in this field in the country.

Spread over a lavish 5,00,000 sq. ft., on a 10-acre property, this Rs100-crore mall is designed to cater to all kinds of buyers including home and office owners, hotel and retail industry, and for all categories of commercial developers and builders. It will feature products from glazing, flooring, furniture, furnishing, hi-tech consumer electronic white goods, lighting, and acoustics, reaching up to art, sculpture, and landscape. Read More »