Hot Pune real estate market news:Though i knew City Group's mission is to build housing for classes and masses in and around Pune, I never thought Aniruddha Deshpande, Managing Director, City Corporation Ltd. really mean it.
No, not that i do not trust Aniruddha Deshpande. But tell me, how can i believe in any builder in Pune when recently at Wakad, Mont Vert took a credit of "shattering real estate price barrier" and offered flats at Rs.3,000 per sq.ft.! According to Mont Vert "affordable homes" means - 2 bhk flat in 32 lakhs and 3 bhk flat in 42 lakhs.
Which means, considering you get 85% loan and your EMI is around 50% of your monthly salary, person earning Rs. 50,000 per month is consider in "masses" in Pune real estate market, i assumed.
On the other hand, Aniruddh Deshpande is the pioneer of Class Housing in Pune! Along with Rohan Builders he developed "1 Modibaug" on University Road which is considered as a bench mark of class housing in Pune.
True, 1 Modibaug improved the quality of housing in Pune. Rohan Builders incorporated many features of 1 Modibaug and developed the concept of PLUS HOMES. Vishwas Kulkarni, Architect of 1 Modibaug, developed the concept of social and environment friendly architecture which goes beyond space utilization, comfort and convenience and plays important role in developing wellness in the family. Today, even small projects like "Mirabel" on Baner road is developed on this concept!
But at the same time, 1Modibaug started the trend of unaffordable housing in Pune! 1 Modibaug increased the expectations of the flat buyers. We all went on demanding better planning, specifications and amenities. As per the popular assumption, Pune builders took dis-advantage of this. They added specifications which increased the construction cost by Rs. 10 per sq.ft. but hiked the property rate by Rs. 100 per sq.ft.
Initially, flat buyers were happy to pay the higher rate till it went out of control. I used to wonder when people did not mind paying 700 to 800 rupees more at Kool Homes at Balewadi only for the "digital" specifications. Forget about the past projects, Kool Homes was a new builder, who has not proved that he can construct. Not even a mock flat! Why? I used to blame Aniruddha Deshpande. Like Marlboro, world famous cigarette brand, he created the desire and let the Pune real estate developers exploit it!
Aniruddha Deshpande has not only "spoiled" the property buyers, he has spoiled the Pune real estate developers too. Today, Marvel Realtors specializes in building flats only in 1.5 crore and above budget. I had a shock of my life when one of my old clients, whom i consider the most rational and the professional builder in Pune, Sanjay Runwal of Runwal Housing, told me very proudly about his project in Bhosale Nagar where a flat is above 1.5 crore. Look at Atul Chordia of Panchshil, Aniruddha's old friend in pioneering car racing in Pune, he is constructing 1,250,000 sq ft. project YOOPUNE by Philippe Starck at Hadapsar where a one bhk would cost 5 crore!
Of course, i know Anirudha Deshpande as Megalopolis Developers has developed Kelewadi slum at Paud Phata under Slum Rehabilitation, but i always thought it as his passing fancy. With handing over rest of the project to Kumar Builders he has come out of it. So i did not believe when i read on SuchetaDalalDotCom about his next project which will have flats in 10 to 20 lakh budget! See what Sucheta Dalal writes in her article "Dream Houses":
Apart from Amanora, Deshpande has planned two other townships. The next one is at a lower price point (between Rs10 lakh-20 lakh), deploys a new fabrication technology (consumes less of cement and uses a chemical that expands) to lower the cost and will come up in less than 1,200 days. The township will have all basic facilities including and a transport hub to connect Pune.On this back ground, Aniruddha Deshpande himself is developing a township of flats in 10 to 20 lakh budget was a shocking news to me. MOU with CMC - Tata group company and NEC - Japanese IT giant for Digital Amanora Park Township - Yes! Possible. Housing for masses - only a politically right statement. Action, not expected form Aniruddha Deshpande.
I was expecting something like this from Mr. Satish Magar of Magarpatta City. After all, he is one of us. For him FDI means farmer's direct investment. But when i was with him on last weekend, he simply refused to talk about Nanded City on Sinhagad road. Still i have not given up hopes.
Aniruddha Deshpande, this is as shocking as your way to express your love for your parents. You not only redeveloped their old bungalow. But you build an apartment with an indoor swimming pool for them to enjoy! You are awesome!
real estate Indian real estate Pune news Pune real estate Pune real estate market Pune real estate market news Pune property blog Aniruddha Deshpande, M. D., City Corporation Ltd Amanora Park Town Hot Pune real estate market news Mont Vert Seville 2 bhk flat in Wakad 3 bhk flat in Wakad Pune property rates real estate prices in Pune affordable housing Rohan Builders 1 modibaug PLUS home arc.vishwas kulkarni Mirabel, Baner road unaffordable housing in Pune Kool Homes, Balewadi Marlboro Marvel Realtors Sanjay Runwal of Runwal Housing Atul Chordia of Panchshil YOOPUNE by Philippe Starck at Hadapsar Megalopolis Developers Kelewadi slum at Paud Phata Slum Rehabilitation Kumar Builders SuchetaDalal.Com Sucheta Dalal CMC - Tata group company NEC - Japanese IT giant Digital Amanora Park Township Housing for masses Satish Magar Magarpatta City farmer\'s direct investment foreign direct investment in Pune real estate Magarpatta\'s Nanded City on Sinhagad road ravi karandeekar