Is "Life Republic" better than Blue Ridge, Megapolis, KUL Ecoloch, Nanded City Pune & Amanora?
If you want an answer in one word, I will say - "Yes!". "Life Republic", by Kolte-Patil I-Ven Townships (Pune) Pvt. Ltd., on Hinjewadi - Marunji - Kasarsai Road, at Pune 411 057 is better than other ongoing townships - Blue Ridge, Megapolis, KUL Ecoloch at Hinjewadi, Nanded City Pune on Sinhagad Road, and Amanora Park Town at Hadapsar - in Pune real estate market.
If I am allowed to say more than "Yes" or "No" - my answer is "Yes! Conceptually!!". Because, we all know that, any real estate project should be judged on 3 parameters - Concept, Execution & Service. It means that you can get a true answer only a couple of years after the completion of the entire project. It means that, at this point of time, we can only say that - the concept of "Life Republic" is better than all the other ongoing townships in Pune!
"We all learn from one other! Obviously we have improved & refined the concept of "Special Integrated Township". Certainly, we have avoided 'mistakes' or 'flows' in other older townships - but who knows? - we may not be perfect! Perfect or imperfect - for sure - home buyers - in all budget range - will get "better quality of life" at Life Republic!," said Mr. Sujay Kalele, Vice President, Business Development, Kolte-Patil Developers Limited, when i met him yesterday.
Yes! yesterday, on the eve of launch, I visited "Life Republic"! Since, the 'jeeps' which run on Hinjewadi - Marunji - Kasarsai Road were on 'strike' (due to some road accident the day before!), i took a lift in the driver's cabin of a goods three wheeler and reached the site of "Life Republic". With an intention to find out the answer to the most important question you had asked in the comments - Is Life Republic better than Blue Ridge & Megapolis?
|Mahesh Saluja, AVP, Sales & Marketing, Kolte-Patil I-Ven Townships (Pune) Pvt. Ltd., Anirudha Patil, Founder - Kolte-Patil Developers & Sujay Kalele, Vice President, Business Development, Kolte-Patil Developers Limited|
Before, i can say anything more, we have to understand why this question comes to mind!
At the site office, I noticed one more person who looked as curious as me about the "Life Republic". Fortunately, Sujay, V P - Kolte-Patil Developers, introduced us. He said, "Meet Aniruddha Patil, father of our Chairman & Managing Director!"
"OMG! You look so young!!" i was about to say to the smiling man in his eighties. But, i said, "Sir, I can see - you are looking so happy about all this! Good going! Right?"
"Certainly! In 1965, when i started my first project in Nagpur - i had to convince people to buy a house in the building! You know what? People used to ask me - How can I live in a home which is constructed on and below the other house and shares the walls with the next house?! And, now, look what we are doing - we are constructing a city!," Mr. Aniruddha Patil said.
Very True! When Blue Ridge and Megapolis were launched we found it very difficult to accept them as an independent 'town' and went on worrying about the distance from Pune and availability of basic needs like - water, power, medical facilities, shops & schools! Now, we are debating - which township - 'city' - is better than the other - 'Is "Life Republic" better than Blue Ridge, Megapolis, KUL Ecoloch, Nanded City Pune & Amanora?' Here are my observations:
|Life Republic, Kolte-Patil Developers' Marunji-Hinjewadi Township, Pune 411 057, getting ready for launch on 9th December 2011|
View Life Republic - Kolte-Patil I-Ven Mrunji Hinjewadi Township in a larger map
1) Looking at the current political situation - i am seriously worried about the townships - you know the names - which have known 'connections' with the 'controversial' politicians.
I tried my best, but at least - at this point of time - i couldn't find any "well-known" connection between the developers of "Life Republic" and any 'troublesome' politician.
Considering that everything is politicized in our country, i assume that the developer of "Life Republic" is - "politically correct" and, in future, will be able to maintain the balance well!
2) Not only in the marketing presentation but even in actual planning and execution, "Life Republic" is an infrastructure development project which will offer better quality of life for the home buyers. It's not like a couple of other townships - which are only 'big' housing projects with fancy specifications & amenities like horse riding, golf course or furniture and white goods.
3) Some of you who don't feel comfortable about 95 years or 999 years "lease" - will like "Free hold land" of "Life Republic"!
4) Since, as per the Maharashtra Special Township Act - only "Life Republic", Blue Ridge, Nanded City Pune, KUL Ecoloch & Amanora are "townships" - Megapolis is not! Though "conceptually" Megapolis is similar - legally it is not.
However, it doesn't mean that it's inferior to others. We all know that unmarried persons can be good parents!
5) I liked the range of properties and price range - from a 1 BHK Flat for Rs. 25 Lakhs, 2 BHK Flat for 45 to 50 Lakhs, 3 BHK Flat for Rs. 60 - 65 Lakhs and a 3 Bedroom Villa for Rs. 1.5 to 2 Crore - all are approximate prices at the launch - at "Life Republic". Which is the budget of a young middle class home buyer in Pune. Who may have a capacity to pay more or less amount of money to buy a home but expects and deserves the same quality of life.
At "Life Republic", socially you all are on the same level. And there are no 'financial' divisions - like 'low income group housing' or 'high income group housing' - as in Nanded City Pune and Amanora.
6) We all know that quality of soil affects the construction time and cost, as well as the life of a building. I am told that the quality of soil in "Life Republic" is better for housing. Here soil is not as hard as it's in Megapolis or as soft as it is in Nanded City Pune, KUL Ecoloch or Amanora.
7) At the launch of Life Republic, construction of the buildings and the roads has already begun. When you visit the site, from the viewing gallery, you can get a clear idea. You don't have to depend entirely upon the audio visual or a model. This will help you to make an informed decision which will be mostly right. Even if you decide not to book!
When Blue Ridge and Nanded City Pune was launched, most of the buyers were not aware about what they were getting into!
8) Real estate investors and property rate conscious buyers would like to know that the launch rate at "Life Republic" is Rs. 3,300 and Rs. 3,500 per sq.ft. which is fixed - non negotiable - and entirely based on the cost of the construction of the particular type of property.
At the same time, there is transparency about the actual carpet area and garden and other spaces in villas. Which are sold at lump sum property price - not on per sq.ft.
It means that, compared to other townships and Wakad, Baner and other knows areas in PMC & PCMC, the property rate at "Life Republic" is competitive at this point of time.
9) "We, the developers, are our biggest enemy! We increase the prices, make property un-affordable, invite slow down and get into trouble!! If you look at the pricing of all Kolte-Patil projects, you will see that our focus is on selling more number of units - not on increasing price and profits!," Sujay, V P Business Development, told me.
If Sujay Kalele follows his own policy, i am sure, investors and home buyers can get 'actual' appreciation after the possession!
Usually, in all other townships and in PMC & PCMC, the way the developers are increasing the prices, i am not sure whether, down the line, these properties will be able to hold 'builder's prices'! Yes! Because of inflation property will be sold at a higher price but how much 'appreciation' you can earn is doubtful.
10) Before investing, i have realized that, the property buyers should consider the developer's 'ownership' pattern.
Secret owners and "Funds", we have seen, can create problems for the home buyers. For example, we all know that home buyers in Blue Ridge are wondering - why the SEZ is ready & operational but the residential towers which were almost sold out on the day of launch are not yet ready!
I asked Sujay about 'funding' in "Life Republic". He said, "It's joint venture between Kolte-Patil Developers and ICICI Ventures. They are partners - not investors. So, there are no terms of 'retirement' in certain number of years. So, for us - not any fund - but the property buyers are the only customers! Since, Kolte-Patil Developers is a listed company - you can check that - our debt equity ratio is low by industry standards!"
It means that Kolte-Patil Developers, Sujay wanted to tell me, is free to concentrate on completion of the project!
Considering all these points, i am sure that - on the conceptual level - "Life Republic" is worth considering.
Professional management, quality of experienced staff, large customer base in all parts of Pune and joint ventures are the strengths of Kolte-Patil Developers. Which qualify them for better execution of the project and increases their eligibility for offering better service to the property buyers - than any family owned and run real estate developer. Amen!
1) THURSDAY, DECEMBER 8, 2011
Kolte-Patil Developers' Life Republic Marunji-Hinjewadi Township - Press Release
2) WEDNESDAY, DECEMBER 7, 2011
Life Republic - Kolte Patil Developers' Marunji Hinjewadi Township - will be launched on 9th December 2011!
3) WEDNESDAY, SEPTEMBER 21, 2011
Lunch date with Mahesh Saluja at Kolte-Patil I-Ven Marunji Hinjewadi "Special" Township
4) SATURDAY, DECEMBER 3, 2011
Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs in November 2011
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