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Friday, May 23, 2008

Aniruddha Deshpande, of Amanora Park Town, to offer flats in 10 to 20 lakhs in his upcoming township in Pune

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!


  1. Ravi there is no need to jump up & down when market is bad. Deshpande is undestanding the realty.

  2. I do not agree with you Mr. Anonymous! After working with more than 50-60 big and small builders in my carrier, i strongly believe that a person who has a seance of reality can not become a builder in Pune! If you become a builder, for sure, you stop understanding what is a reality and what is a popular belief!

  3. Now about "realty": who likes housing for masses? Nobody! HDFC could post better turnover though they disbursed less number of 'loans'. RBI and Finance Minister see no risk in the loans above 20 lakhs. Except those Indians who do not have a budget above 30 lakhs think market is bad. Isn't it good to sell less number of flats but do more turnover and increase your profit? Why bother about 'masses'? Mass housing is not his niche still Aniruddha bothers. When he does not have to. There is a huge market for high end homes in Pune.

  4. Is Amanora a safe investment ? I have purchased a 3.5 BHK for 80 plus lacs in the ten towers...the project is alreadt delayed by 4-5 months.....i hope my investment is safe...

  5. .the project is alreadt delayed by 4-5 months.....i hope my investment is safe... come on, real estate is a game of patience!

  6. amanora could be improved much much better if it were for masses. the 1 bhks are too small. i personally believe that every flat needs designing from utility as well as safety perspective. The balcony is not provided with grills nor are they permitting the users (who are leasee )to install them on their own. They also specifically mention in the terms and conditions that the clothes line are not to be seen from the outside, so the clothes line cannot be on the balcony as well!! how does he expect us to dry our clothes. he has provided for washing machines in 1 bhk flats.... would have been better if he also provided with the 100% clothes drier too!!.

    the balcony is not provided with grills. it is especially unsafe with small kids in the house !! the digital locking system at the main door will prove futile if the rear end of the house is left open like this !! we should be allowed to put the grills to the balcony optionally and this could be in line with the design approved by them rather than leaving it open and that too at heights !!

    a house should not only be aesthetically good but also be complete in terms of utility - an utility area can be given to every flat regardless of the bedrooms it has. every kitchen with utility area will be welcome.

    also he could think of providing one transport service to prominent locations like MG Road, Station, deccan, etc on daily basis.

  7. i find Ravi Karandeekar is being paid to write in favor of Mr. Deshpande..... complete crap.

  8. Amanora Park Township Trendy Towers 31 to 35 delayed for more one year and the finishing work in the ready for possession is without any quality check,substandard,cheap and unimaginably dirty.Leakage observed from top floor in the ceilings of the flats below.Gas connections not in place and so is the parking.Please those of you who are informed to take possession please do not pay you last instalment of scheduled payment unless you check the flat for complete readiness.We paid and then checked and gave an observation list of 23 Specific Points and 10 General Points for redoing the work.Please be careful this project does not live up to its expectations of quality and customer care at all.It seems there is no senior management person to take responsibility for qualtiy supervision of the subcontracted civil engineering work and the customer has to suffer the consequences of delay and poor quality of civil and finishing work.