Tag Archives: Affordable housing in Pune

Shapoorji Pallonji’s Mid-income housing brand Joyville comes to Pune

Posted on by Track2Realty

News Point: The Shapoorji Pallonji Group has launched its easy to own homes under the brand – Joyville in Pune with its first project near Hinjewadi (phase 1). This is the third project under Joyville brand following Kolkata and Virar, respectively. 

Shapoorjee Pallonjee Joyville, Pune property market, Pune project launches, Affordable housing in Pune, India real estate news, Indian realty news, Real estate news India, Indian property market news, Investment in Pune property, Track2Realty, Realty Fact, Realty PlusJoyville – Hinjewadi spread over 8 acres of land would be home to over 1000 families. The development offers different unit configurations namely 1 RHK to 2 RHK units. The project boasts of 75 % open space with more than 25 playful activities which would lend itself very well to lots of fun and fulfilling experience for one and all residents.

Apart from the spacious residences in a gated community, the project will have cutting edge amenities like clubhouse, swimming pool, gym, jogging and cycling tracks, sports-facilities for kids, recreation areas, parks, open spaces, party lawn to just name a few.

Moreover, the eligible customers can also avail the PMAY benefit up to of Rs. 2.67 lacs under the CLSS scheme.

Speaking at the launch, Sriram Mahadevan (Executive Vice President & Business Head – Joyville at Shapoorji Pallonji Real Estate) said, “We are excited to launch our first project in Pune near Hinjewadi phase 1 which houses one of the biggest IT hubs of India. Pune is one of our focus cities from Joyville perspective and this project addition fits well within our overall strategy of expanding our presence in the country’s middle-income housing market. The mid-income segment is the sweet spot of India’s real estate market today with lots of demands being witnessed in this space. The emerging middle class of today aspires for a wholesome living and we are happy to play an active role in their quest to own a home they desire. Keeping the customer at the center of our offering we have designed the project to meet the aspiration of the homebuyers, mainly millennials, who like to stay closer to their work place.”

The project is located near Hinjewadi Phase 1, the most prime location within Hinjewadi IT Park micro location with excellent connectivity to the Mumbai-Pune Expressway apart from proximity to various social infrastructure like railway station, schools, malls, hospitals etc.  

The ongoing / future infrastructure projects like bridge over Mula river connecting Baner and Balewadi, 110 meters wide ring road adjacent to the project and upcoming Metro connecting Hinjewadi to Shivaji Nagar would ensure seamless mobility solutions to the residents of Joyville going forward.

Joyville – Hinjawadi residents would be proud of their development being IGBC Gold Pre-certified green home. Some of the key aspects of being a green development around 40% of the total site area will be covered with greens which involve native and drought tolerant species of plants to enhance the beauty and bio-diversity of the project. Solar PV cells and solar water heaters will be installed on the site to cater to almost 72% of the total hot water requirement which will reduce energy consumption for the residents leading to lower power bills.Eco-friendly Building materials having recycled content will be used during construction. Paints which will be used in the project shall be low VOC and Health friendly paints.


Peninsula Land forays into affordable housing

Posted on by Track2Realty

News Point: Peninsula Land launches ‘affordable luxury’ project – addressOne, across 50 acres in Gahunje, Pune. Offering 5 typologies of apartments (1BHK to 3 BHK) priced INR 18 lakh onwards (inclusive of stamp duty, registration and other taxes).

Peninsula Land, Piramal, Rajeev Piramal, India real estate news, Indian realty news, Real estate news India, Indian property market news, Track2Realty, Piramal luxury, Piramal affordable housingPeninsula Land Limited has forayed into the affordable housing segment with the launch of its new project `addressOne` located at Gahunje, Pune. Spread across 50 acres, addressOne is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium.

The project aims at providing ‘Luxury for All’ to its prospective home buyers by providing homes that are both luxurious as well as affordable.

In its first phase, the company will be launching approximately 1000 unitsthat will comprise of 51 four-storeyed buildings comprising of just four apartments per floor.

This is Peninsula Land`s first affordable luxury project in Pune, after their completed project Ashok Meadows in Hinjawadi. The project is designed by renowned architect Hafeez Contractor & is PMAY (Pradhan Mantri Awas Yojana) approved.

Peninsula Land Ltd. has tied up ANAROCK Property Consultants as their strategic partner. Its strategic location just off the Mumbai Pune Expressway connects the project to Hinjawadi, which is less than 10 km away.

Rajeev Piramal, Vice Chairman & Managing Director, Peninsula Land Ltd. said, “Personally, I am very excited about the launch of addressOne as we’ve been keen to apply our deep knowledge and experience in the luxury housing space to the affordable segment. Affordable housing is clearly the most vibrant opportunity for the Indian real estate sector today, with ever-increasing demand emanating from this segment. The Government has unleashed several initiatives to give a fillip to affordable housing. We at Peninsula Land are firm believers in the ‘Housing for All’ mission, and have identified the scope for expanding this to ‘Luxury for All’ as well. With addressOne, we will provide genuine luxury homes at affordable rates to our customers.”

Commenting on the partnership, Anuj Puri, Chairman, ANAROCK Property Consultants said,“We are pleased to partner with Peninsula Land, a group known for their luxury landmark projects. We are particularly enthusiastic about this project, which gives affordable housing a compelling twist of added luxury elements. Even our initial strategic research reveals tremendous buyer interest for the unique concept of affordably-priced ‘Luxury for All’. Thanks to the rapid infrastructure development in this region of Pune, Gahunje has good potential for price appreciation over the next few years. Moreover, the inherent demand for this offering comes not just from Pune but also Mumbai and other parts of Maharashtra.”

Pune’s real estate market has benefited not only from its proximity to Mumbai but also its own dynamic market drivers in the IT/ITeS, manufacturing and services industries.

However, the tremendous construction activity and price growth in rapidly saturating regions of the city has pushed spillover residential demand to more affordable areas like Gahunje, which are simultaneously seeing rapid infrastructure upgrades. Real estate is a price-sensitive business, and the demand for affordable housing is now at an all-time high.