What is the current property rate in Hadapsar - Kharadi IT belt in Pune?When we talk about real estate, we talk about property rates. What is the current property rate in Pune real estate market? 'Real estate rates down in Pune' 'Pune property prices' 'booking rate of flat' are the most popular search terms which bring you to my Ravi Karandeekar's Pune Real Estate Market News Blog.
When we argue about the current property prices in Baner and Wakad, some property buyers believe that Rs.3,500 per sq.ft. or Rs.2,900 per sq.ft. is too much. Considering the infrastructure in the area, road and all, not worth at all.
Most famous quotes of the builders are also about rates.:
1) "Builders will increase the rate according to the stage of the construction,"- Mr. Shantilal Kataria, Vice President of PBAP, announcing price hike in Pune between Rs 50 and Rs 400 from April 20.
2) “How can prices move down when both land cost and cost of construction that accounts for 60 per cent of the final price are phenomenally up over the last three years?” - from "Chicken Soup for the Pune Real Estate Developer's Soul".
Community life, Sustainability and Safety:
When i received the press note about "Magarpatta City Ganesh Festival 2008" , i said, "come on, nothing great about it. Every housing society celebrates it." Though, i do not celebrate Ganpati at my home, i look forward to participate in my society's festival. How can anybody miss an opportunity of flirting with his neighbor's wife?
But when i read it carefully and saw the photographs in the press note, i realized few things we do not consider while booking a flat or talking about the 'right' real estate rate or worth of the property.
1) Community life:
We do not feel shy to express who should not be our neighbor, for example Hindu property buyer generally does not want Muslim neighbor. Builders promote the project for the specific community and highlight the "Jain Temple", or call it as "Only for the Vegetarians".
But how much importance we give to the quality of community life we would be able to enjoy in the particular project? Is the layout of project designed to give you quality community life? Like, for example, Shree Bal Developers' Kapil Malhar at Baner designed by Arc. Vishwas Kulkarni.
In the audio visual presentation of Amanora Park Town, while talking about the size of his 400 acre township, Anirudha Deshpande says, "Townships of smaller size are not sustainable!"
I do not want to talk about the ideal size of the township but about the sustainability of any project of any size. After all, to live happily ever after in your apartment or to gain the appreciation of your property, the project has to be sustainable. Means your society should be able to afford to maintain the project and the amenities provided by the builder. It may be a 400 acre township like Magarpatta City, 12 acre township like Runwal Seagul on Hahdewadi road or a standalone single building project. Right?
When in the press conference of Runwal Seagull, while talking about eco-friendly construction, Mr.Sanjay Runwal, managing director of Runwal Housing mentioned about earning the carbon credits, i was surprised. I never thought carbon credits can be a source of a revenue and could contribute to maintain the a medium size projects like Runwal Seagull on Handewadi Road at Hadapsar.
Digital home or digital security system has become a popular specification in all good projects. I am talking about simple video door phone or biometric identification system. From marketing point of view these digital security features are as important as all those features in mobile phones, which most of us do not use much but prefer to have when we buy a new handset. Besides safety from the human beings, we see that building would be safe in case of earthquake.
Unfortunately, the way terrorism is becoming the part of the developed world, i think, big townships have to consider the possible threat while town planning. We have to consult Hollywood script writers to find out the possible solutions and make changes in the planning of the on going township projects. I am sure, you must have got what i mean. There is no need to illustrate by example. You can imagine.
Your Comments:Point is, we have to ask about the community life, sustainability and safety features of the real estate projects when we visit the sample flat. We have to give these features proper importance while negotiating the current, ongoing property rates. Otherwise there is no point in taking the trouble of saving pre-EMI or prepaying the home loan if the home is nothing but private four walls in the common compound.
Please, read this Magarapatta City's press release form this point of view. Please, let me know in the comments what do you think about these features. How much importance you give to the community life, sustainability of the project and safety of you dear ones and your property. Yes, if you haven't read the new Ravi Karandeekar's Blogs's Comments Policy, please, read. If you are visiting my Ravi Karandeekar's Pune Real Estate Market News Blog for the first time, please, subscribe for free to receive an email or read it in your preferred reader. To know about my other blogs, please, visit and join for free to my Google Group, Ravi Karandeekar's Pune Real Estate Blog Group.
Harmonious community living in Magarpatta City
The Magarpatta City Foundation:
The concept of Magarpatta City was not only to make homes and office space on the ‘walk to work, walk to school, walk to recreation’ but also to create a new vibrant community. With a zeal to promote community living, various initiatives have been taken for an active participation of the residents.
The Magarpatta City Foundation has been formed with its objectives being Magarpatta Citizen-centric and all unit holders become members of the Foundation by default. Thirty percent reservation on the council is for women, to align with the National policy of women empowerment.
Magarpatta City Council:
The working of the foundation is very democratic and for every hundred units there is one representative on the Magarpatta City Council for its period of tenure of two years.
The Council conducts and manages major events celebrated in Magarpatta City i.e. Republic Day-26th January, International Women’s Day-8th March, Maharashtra Day-1st May, World Environment Day-5th June, World Eye Donation Day-10th June, Independence Day-15th Aug, Ganesh Festival, Navratri, Deep Mahotsav on 1st Day of Diwali, Childrens Day-14th November, Magarpatta City Foundation Day-3rd December, Christmas Eve-24th December, etc.
Belonging and Sharing:
Committees in the Magarpatta City Council i.e. the Library, Senior Citizens, Children’s, Sports, Ladies, Social, Cultural, Magazine, etc. contribute to strengthen social ties by means of activities for environmental upkeep & awareness amongst Magarpatta Citizens.
Besides the above - competitive sports, games, chess tournaments, blood donation & yoga camps, etc. are conducted regularly to encourage and promote a sense of belonging and sharing amongst the fraternity. The current Ganesh Festival had Healthy Baby, Drawing, Dance, Singing, Mehandi, Rangoli, Fancy Dress, Cookery & Salad Decoration competitions, Fashion, Traditional and Magic Shows, Bhajan Sandhya, Open House and Marathi Drama.
Magarpatta City Ganesh Festival 2008:The idol of Ganeshji being brought in at Magarpatta City:
Residents & IT professionals celebrating:
Cultural performance at Festival:
Mr. Raman Lamba - Executive producer, Ms. Shona Urvashi - Director of SAAS, BAHU AUR SENSEX & Mr. Satish Magar - performing puja:
Corpus for Sustainability:Magarpatta City along with Cybercity Magapatta - its integrated infrastructure, clean green surroundings, wide roads, features, parks, water bodies, sports club, scenic locale is now turning out to a hot destination for films and advertisement shootings.
Films like Aitraaz, Sivaji the Boss, Thodi Life Thoda Magic, Patta Cut and advertisements like Maruti Swift, Chevrolet UVA, Birla Super Cement, TVS, Bajaj and Hero Honda motorcycles have been shot here.
Saas, Bahu Aur Sensex:
The latest – the first Indian presentation having a worldwide release this week by the internationally renowned Warner Brothers - ‘Saas, Bahu Aur Sensex’ and produced by PLA Entertainment Pvt. Ltd. Production has been extensively shot here at the Cosmos neighborhood, the Central – Aditi Gardens, Cybercity Magarpatta and other scenic locales of Magarpatta City.
The proceeds and contributions for allowing these cine - shootings and promotions here are pooled into the Magarpatta City Foundation creating a healthy and regular corpus for the foundations activities.
Carbon Emissions Saved:As a part of energy conservation measures Magarpatta City has implemented Flat Plate Collector (FPC) based Solar Water Heater Panels for all the residential dwellings and installed 4,710 to date with a capacity of 5,92,650 litres per day (lpd) saving over 95,62,987 electrical units (KwH) annually.
The flat solar panels are connected to the water storage tanks above each building, ensuring hot water without any additional cost to every home.
The environmental conscious effort has appeared in the latest Limca Book of Records, 2008 - the largest energy saving project by a single entity.
On completion a total of 7,160 Solar Water Heating Panels will be installed - totaling a capacity of 8,98,900 litres per day which will materialize into a saving of 1,45,48,447 electrical units(KwH) annually.
As on date this saves 8,890 tonnes per year of carbon emissions which will finally reach over 13,483 tonnes per year of carbon emissions saved.
One Time Maintenance Deposit:For those living in Magarpatta City, a one time maintenance deposit is charged, hedging them from future inflation and recurring maintenance outgoings.
Reduction in the Property Tax:Sincere efforts of Magarpatta City are perpetually on to conserve the environment - like solar water heating, garbage segregation at source, bio gas, vermi-culture, rain water harvesting, tree plantations, cleanliness and maintaining the roads. The Pune Municipal Corporation (PMC) recently reduced the Property Tax by 10% of the Magarpatta City residents.
All the above go a long way in making Magarpatta City, the first planned, integrated township – the pride of Pune, an ideal for community living.
Have you received Magarpatta City's Web-mailer?
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