Hemant Kulkarni, G.M., Pegasus Properties, reviews the first 3 years of Megapolis, 150 Acre Township in the 3rd Phase of Rajiv Gandhi Infotech Park, Hinjewadi, Pune 411 057:
|Hemant Kulkarni, GM, Pegasus Properties Pvt. Ltd., Promoters of Megapolis, Hinjewadi Phase 3, Pune 411 047|
On Saturday, 30th April 2011, i visited Megapolis Hinjewadi Phase 3 (www.megapolis.co.in).
Actually, on Thursday, 28th April 2011, for a couple of hours, i was at Megapolis and had visited Sangria Towers and Megapolis Smart Homes 1 & 2 - Sparklet & Sunway.
On Saturday, i wanted to meet Mr. Hemant Kulkarni, G.M., Pegasus Properties, to know his views about the progress of Megapolis in the first 3 years and his future plans.
Yes! 3 Years!! Remember? Pegasus Properties, a joint venture of Kumar Properties and Avinash Bhosale Group, launched Megapolis on 28th April 2008! Paranjape Schemes launched Blue Ridge Hinjewadi on 27th October 2007. And Nanded City Pune was launched on 1st of June 2008.
All these townships were launched, in some sort of a hurry, because the builders knew that, the world financial crises was inevitable. High GDP Growth of Indian Economy had started looking like a day dream. Who knows? Their 'Mega Township' projects, builders were worried, may turn into fool's paradise.
Today, after 3 years, situation hasn't improved much. Developed countries are not yet out of recession. In India, inflation is out of RBI's control. Central Government of India and Maharashtra Government are hardly functioning. Pune real estate market is almost paralyzed. Because - bureaucracy is playing safe - by changing development rules and taking time to sanction and approve the new housing projects. Shortage of labor and raw materials - like crush sand, ever increasing costs of the major construction materials - like steel & cement, fittings & fixtures has added a lot to Pune real estate locha.
Obviously, today, again, some builders are in a hurry. To collect interest free funds. Their target is Munnabhais - the property buyers who are suffering from chemical locha. Modus operandi is - attractive pre-launch offers!
We all know that, even after almost 3 years, Blue Ridge, Megapolis, and Nanded City Pune haven't given possession of a single building! Now, Nanded City Pune is planning to give possession of Mangal Bhairav by this year end, December 2011. Blue Ridge is still struggling with the possession. (And, you know? Someone told me that, Blue Ridge is considering to change the focus. Instead of IT industry in Hinjewadi, now, Mr. someone said, Blue Ridge is considering some sport - like golf! "Why not cricket, horse racing or Formula One? All are global sports!", I said.)
Coming back to Megapolis - i was curious to know - how is this baby doing? - which was born at the wrong time and - brought up in tough times!
Before talking about Megapolis, Mr. Hemant asked me,"Did you notice the developments in the 3rd phase?"
"Yes! I saw the new wing of Tech Mahindra. Now, TCS IT Park looks more imposing. Completed works of DLF IT Park in the 2nd phase assures that things are improving. On the way, i saw a big crowd of job seekers at Wipro. No doubt -things are getting better!," I said.
"When i see these developments - i see "demand for housing," said Mr. Hemant and gave me the approx number of people working in these IT Parks - 50,000!
Here is a short summary of what Mr. Hemant Kulkarni told me about Megapolis:
1) At 150 acre Megapolis, at this point of time - including 21 story Sangria Towers, 14 story Sparklet - Megapolis Smart Homes 1 and 14 story Sunway - Megapolis Smart Homes 2 - 52 Towers are under different stages of construction. On which around 5,500 persons are working.
14 slabs of Sparklet - Megapolis Smart Homes 1 are cast and Mr. Hemant Kulkarni is confident about giving possession in June 2012.
However, Mr. Kulkarni is sorry about the delayed possession of B, C & D Towers in Sangria. But, in the next 3 - 4 months, he will complete the development of amenities and will organize a possession ceremony of the 3 towers. At this point, since the construction of B, C & D Towers in Sangria is complete - Megapolis is giving a possession for the 'interior'.
2) Besides constructing 52 Towers, Megapolis has already started working on the foundation of Mystique - the next cluster of 7 Towers - of the premium apartments - opposite Sangria Towers.
3) Excavation of Megapolis Smart Homes 3, next to Sunway - Megapolis Smart Homes 2, has already started.
4) Soon, the excavation of 2.25 lakh sq.ft. Commercial Complex, on the main road - opposite Megapolis Island will start. This Commercial Complex will have essential shops, hyper market, Mall, small offices, Multiplex and multiple restaurants.
5) Construction of Megapolis School has started. At this point of time, though it's plinth is ready, Mr. Kulkarni said that, their target is to open the school in June 2012.
6) Construction of Sunway - Megapolis Smart Homes 2 is going on in full swing.
7) Common Sports Amenities - 3 tennis courts, children's play area, cricket & basket ball nets - located in front of Sunway - Megapolis Smart Homes 2, are under construction. A1, A2 & A3 Towers, which will be launched on 1st of May, enjoy a view of these amenities.
8) Mr. Hemant Kulkarni said that Megapolis has crossed the sales target of Rs. 1,000 Crore.
In Sparklet - Megapolis Smart Homes 1, you can get a flat only if someone cancels, because the project is sold out.
Booking of 168 units of 2 BHK & 2.5 BHK Flats in A1, A2 & A3 Towers, the last 3 towers in Sunway Megapolis Smart Homes 2 will be opened on 1st May 2011. For these 168 units, some 300 people have already given their preference.
Megapolis has opened the booking of 8 towers - from A to H - of Sangria. Which are almost 90% booked. Almost ready for possession B, C & D Towers in Sangria have very few flats available.
Though the availability of the premium apartments is very less, Mr. Hemant told me that the booking of I Tower in Sangria will be opened only in April 2012 - with Mystique, the new cluster of premium apartments - opposite Sangria Towers!
It means that, in the coming 6 months only Megapolis Smart Homes 3 will be launched! By public demand, for the first time, Mr. Hemant is planning to offer a 3 BHK Flat for 'very attractive property price' in Smart Homes! Tentatively, Megapolis Smart Homes 3 will be launched on 15th of August 2011!
After talking to Mr. Hemant Kulkarni, for a few minutes, i sat on a couch in the reception of Megapolis. Looking at the enlightened people. For whom standard of living and value for money is more important than the so called convenient - familiar locations in PMC & PCMC. Amen!
Photo-walk of Megapolis, Hinjewadi Phase 3, Pune 411 057:
View Sangria Towers Megapolis, Hinjewadi Phase 3, Pune 411 057 in a larger map
|Rush for the job interview at Wipro, Hinjewadi Phase 2, Pune 411 057|
|Under-construction new wing of Tech-Mahindra IT Park, total capacity 14,000, neighbor of Megapolis Hinjewadi Phase 3, Pune 411 057|
|TCS IT Park, neighbor of Megapolis Hinjewadi Phase 3, Pune 411 057|
|Megapolis Fire Station, Hinjewadi Phase 3, Pune 411 057|
|Closeup of Sangria Towers Premium Apartments in Megapolis, Hinjewadi Phase 3, Pune 411 057|
|Plinth of Megaplois School, Hinjewadi Phase 3, Pune 411 057|
|Common Sports Amenities in Megapolis - Tennis Courts! - 1|
|Common Sports Amenities in Megapolis - Stand for watching Tennis Matches!|
|Sunway - Megapolis Smart Homes 2 - view from the Tennis Courts - Common Sports Amenities in Megapolis Hinjewadi Phase 3, Pune 411 057|
|View of Sangria Towers from Tennis Courts - Common Sports Amenities in Megapolis Hinjewadi Phase 3, Pune 411 057|
|View of Sparklet - Megapolis Smart Homes 1 from the Tennis Courts - Common Sports Amenities in Megapolis|
|A1, A2 & A3 Towers of Sunway Megapolis Smart Homes 2 has a view of Tennis Courts - Common Sports Amenities in Megapolis|
|View of Children's Play Park - from the Tennis Courts - Common Sports Amenities in Megapolis|
|View of Children's Play Park - from the Tennis Courts - Common Sports Amenities in Megapolis|
|Children's Play Park - Common Sports Amenities in Megapolis & Sunway - Megapolis Smart Homes 2|
|Wide space between Sparklet - Megapolis Smart Homes 1 and Sunway - Megapolis Smart Homes 2, Hinjewadi Phase 3, Pune 411 057|
|Megapolis Smart Homes 3, & TCS IT Park at Hinjewadi Phase 3, Pune 411 057 - 3|
|In April 2012, Pegasus Properties will open booking of Mystique Towers, next cluster of premium homes in Megapolis, Hinjewadi Phase 3, Pune 411 057!|
1) MONDAY, MAY 2, 2011
Property Prices of Sunway - Megapolis Smart Homes 2:
2 BHK & 2.5 BHK Flats at Hinjewadi Phase 3, Pune 411 057
2) MONDAY, APRIL 25, 2011
Want to Invest 4 to 8 Lakhs in Real Estate?
3) SUNDAY, MAY 1, 2011
April 2011 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog
Feel free to call me:
I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 3 minutes!) Call +919860044110
If you like to chat, join me, RaviKarandeekarsBlogs on Google Talk.
Yes, my email id is RaviKarandeekarsBlogs@gmail.com Feel free to write. I reply as soon as i can.
Join me on Google Buzz at
Subscribe for Free!
To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog
For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group