"Waiting for the right time to lunch a 45 acre township in Aundh Pune!"
Last time i visited Aloma County, i went by Pallod Farms on Baner road. Today, to attend the press conference of the launch of Aloma County and opening of the bookings of Irene Towers, first phase of 300 - 2 BHK & 3 BHK flats - i went by D P Road to MediPoint in Aundh Pune.
Last time, a 45 acre township in Aundh, was an unbelievable idea. Today, a 45 acre township in Aundh, was a god's gift to Pune real estate market, at the right point of time.
In October 2009, Pride Housing launched Pride Platinum, near Pancard Club Baner, but not Aloma County Aundh (www.alomacounty.com). They, Pride Group (www.pridegroup.net) and Naiknavare Developers (www.naiknavare.com), were waiting for the road from MediPoint. However, they didn't mind waiting. Because, they were waiting for 12 years, from the day they purchased this 45 acre land, to launch this Rs. 800 crore project, at the right point of time!
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While pedalling down the D P road, i recalled the times, 2001-02 when we "successfully" sold Mahesh Paradise on this road, people living in Aundh used to look down on D P road!
I remembered that in 2003-04, when i was selling row houses and twin bungalows in Five Gardens, young IT professionals used to wonder why we were asking for the property rate of Rs. 850 - 900 per sq.ft., when Rahatani was "so far away" from D P Road Aundh, where the rate was only Rs.1,100 per sq.ft.
Few months ago, i had a great laugh when one of my readers called me to complain about undeveloped and "full of mosquitoes" Aundh annexe area, which she visited with an idea to buy a property. When i asked her about her real estate investment decision, she said that she purchased one more flat in second sale in her Shirin Gardens itself!
When i reached Kumar Prerana, i stopped for a while. Looking at the ongoing last minute preparations on the new road to Aloma County, old Sai Heritage and popular Medipoint Hospital on my left and Kumar Prerana on my righ, i was trying to get a feel of the location.
Y2K, sometimes in 2000, Arvind Jain launched Pride Silicon Plaza on Senapati Bapat Road, first real estate development in Pune for the IT industry, at the hands of Late Mr. Dewang Mehta (August 10, 1962-12 April 2001), president of NASSCOM, who popularized the concept of “Roti, Kapada, Makan, Bijli and Bandwidth”!
Reminding me that i was almost late for the press conference, i started walking on the partially constructed 80 feet wide road to Aloma County, which will eventually cross the river and go to Baner.
As usual, there was a board of Kumar Properties on one big chunk of land. Actually, i knew that this land exists here, i have seen it from Kumar Prerana. But while i was on this road, i felt like i was walking on the reclaimed land by the sea in Mumbai, so i looked again at the fruit orchards on my right.
Though i was looking at the familiar under construction building and a temple on the Baner hills in the west, for a moment i lost the sense of where i was.
Looking at the sign boards announcing different phases of Aloma County, i understood why Suhas Bhirud (91 95610 70413), sales manager, Aloma County, calls his project Sindh Society, National Society, Abhimanshri Society in the making!
Yes, 45 acres is enough size to be as imposing as these landmark neighborhoods in Aundh. Any one can understand that, at this point of time, a real estate developer would go for the high budget premium flats of bigger sizes - 2,000 sq.ft. plus - 4/5/6 bedrooms - in the heart of a developed area of Pune, so Aloma County could become as upmarket as Sindh, National, Abhimanshri, i thought.
In the question answer session of the press conference, as expected, journalists wondered about calling 2 BHK Flat of 65-70 lakhs and 3 BHK Flat of 90 + lakhs in Irene Towers suitable for the middle class in Aundh!
I was almost going to say that this property price is only because of the launch rate of Aloma County Aundh! Otherwise, considering that middle class in Aundh is more better off than the middle class in Kothrud, - where 2 BHK Flat in Pethkar Projects' Samrajya, second phase of Balwantpuram on Paud Road, goes for 70 plus lakhs and at Kumar Properties' Karishma on Karve Road more than 90 lakhs, - in no time property price in Aloma County will cross the price range of 1 crore rupees.
"How soon and how much up property prices in Aloma County can go?" I was wondering when Suhas and i went to visit the 6 acre construction site of Irene Towers. Looking around, I realized that i was feeling so comfortable and relaxed. I was not at the site of Yin Yang - in the remote, fringe location of Kharadi or like Undri, or in the unfamiliar and strange place - like integrated township Blue Ridge or Megapolis at Hinjewadi. I was in the heart of a developed and popular residential belt of Aundh - Baner - Balewadi!
Suhas was very much excited about the progress of the all 6 towers of the Irene Towers - one tower had come up to 8th floor whereas others were one month ahead of each other - infrastructure development of the site - from water tank to club house - construction was going on simultaneously - promising to complete in the next 15 months as planned. This gave me the answer to "how soon".
In the press conference, Mr. Ranjit Naiknavare, Director, Naiknavare Developers Pvt. Ltd., had already declared that the next phases of Aloma County will have 3-4-5 BHK Flats! Now, considering 3 things -
1) Developers have the financial strength to develop a high value property
2) Project in the heart of developed and popular location, has a wider appeal across all people and countries
3) Speed and sophisticated AluForm construction technology of Naiknavare which offers better homes - i was almost convinced that there is no limit as to how much property price at Aloma County can go up!
Sylvan Heights, Sanewadi, Aundh - an example of Naiknavare' AluForm construction system:
Very excited about the prospects of Aloma County, we went back to the sales office. All had gone and Mr. Arvind Jain was sitting in one cabin. I went in and asked him if he had a minute. He said yes.
"Arvind-saheb, i didn't understand the pricing of Irene Towers. In fact, i didn't like your decision to launch at a property rate less than the on going rate Rs. 5,500 per sq.ft. - of a 3-4 year old - second sale - flat in Paranjape Schemes and Nandan on D. P. road! Particularly, when we have already given the pre-launch offer, and not only booked, but registered the agreements - actually there was no need to give any launch offer to first 50 bookings. We could have charged the normal rate of Rs. 6,000 to 7,000 per sq.ft.!," i completed my argument.
Indicating that i sit, Arvind Jain said, "Why 6 or 7?"
"That's the minimum current rate of a prime property at the prime location in Pune! Even some projects in the remote location charge more than us!," i said.
"Sir, less than the current market price - creates doubt in our buyer's mind, who knows Pune market well!," I tried to convince Arvind Jain.
"But, do you think that this launch offer will make it difficult for us, to raise the price of Irene Towers to that level?," Arvind Jain asked me.
"Not difficult! But, Sir, for a salesman "that" price would have made it more easy to sell the property!," i said.
"There is something more than easy or difficult! Property buyer should admire, appreciate, and feel involved in raising the price of the property! Like listener giving "daad" to good singing! When that happens, it becomes good business!!," my ex-boss and favorite ex-client Mr. Arvind Jain said.
"Oh! Yes, sorry, i forgot that you are more of an artist - a creative person - than a businessman! And, you know, i have a feeling that Naiknavares are communists! It may be a housing or a retail - they always think about "common man" "society" and "community"!," I said and got up to go!
"God has stopped making land. We have to value what ever is on hand. Isn't it?," i said, gave wishes to Suhas and too his leave.
Aloma County Aundh - Updates:FRIDAY, APRIL 9, 2010
Aloma County Aundh - Property prices of Irene Towers to go up
THURSDAY, APRIL 8, 2010
Aloma County Aundh, Pune, Brochure
Related Stories:1) THURSDAY, APRIL 1, 2010
Aloma County, a 45 acre township in Aundh Pune, will be launched tomorrow, 2nd April 2010
The bookings for Irene Towers, the first phase of Aloma County, Aundh Pune, to open tomorrow, 2nd April 2010!
2) SATURDAY, OCTOBER 3, 2009
Behind Medipoint Hospital, on D P Road, near Parihar Chowk, Aundh, Pune - visit to the site of an upcoming township of 2 bhk & 3 bhk flats
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