"Should i en-cash my investment in Kharadi?"
"Mr. Kumar, this is for you! One more safe investment opportunity with a good potential of returns and appreciation in Ahmedabad!"
Mr. Kumar, is in US and may come back after 3/4 years. In 2007, when Kumar was working in Pune, he invested in one of the biggest township at Kharadi, at the property rate of Rs. 2,500 per sq.ft.. In the next month, he is getting a possession of his 3 bhk flat.
"Should i keep the flat or sell it off?," Kumar asked me. He told me that he didn't get any appreciation in the last 2 years and, for sure, because of the recession, he can't expect any in coming 2/3 years.
Kumar is right. Today, the property rate (for the ready possession flat, after the negotiation) of his township at Kharadi, has come down to what it was in 2007!
When i asked Kumar, "Do you have any better investment option?" Kumar told me about an attractive investment option at a very rational property price in Ahmedabad. Sure, his option was really good! There was no scene in remaining invested in Pune real estate market.
"Now, what's the problem?," i asked him. Kumar said, "After 3/4 years, I wish to come back and take a job in Pune!"
Are investors running a way from Pune?
Does it means that not only corporates like
Tata Motors' Nano, Hindustan Construction Company (HCC) of Lavas but individual "real estate investors" like Kumar, who book today for their future home, are forced to go away from Pune?
Niranjan Hiranandani, Chairman, Hirco Group, in this press release, is openly encouraging the "flight of investment" and inviting them "to relocate" in his project!
Are you thinking on Kumar's line and planning to protect your capital by liquidating your investments in over priced big townships in Pune? Please, share your thoughts in the comment!
(Comments Policy)Bye bye Kumar! This is for you: Hirco Group, India’s largest residential builder and developer of prestigious mixed-use townships, is pleased to announce the launch of
Hiranandani Palace Gardens, Ahmedabad.Similar to Chennai:The Ahmedabad project consists of
mixed-use commercial and residential space. 3 million sq. ft. will be developed in the first phase. This project is similar to its projects in
Chennai and Panvel which are co-invested with Hirco Plc (AIM: HRCO). The project has received approval as an
IT special economic zone (IT SEZ).
Hirco Developments, a Group company, will be responsible for project delivery and marketing.
Location:Hiranandani Palace Gardens, Ahmedabad will be strategically located with easy connections to Changodar and Belwa, the two main industrial belts of Ahmedabad. The township will be in the Ahmedabad development zone which also houses the
Nano factory of Tata Motors. The site is 17 kilometers from the City centre and CBD at Ashram Road. The township will comprise of mixed use residential and commercial properties together with the social infrastructure such as entertainment, shopping, clubhouse etc.
High quality real estate with world class infrastructure:“We are very pleased to announce the launch of our next development in Ahmedabad. The project is very much in line with our strategy of building integrated townships for India’s rising and increasingly affluent middle class in well-connected suburbs of major cities.
The township will be modeled on the same successful formula as our townships in Powai and elsewhere, providing high quality real estate with world class infrastructure,” commented Mr. Niranjan Hiranandani, Chairman, Hirco Group.
Mr. Hiranandani further added:
"We continue to execute our strategy, it is a ‘once in a generation’ opportunity to buy real estate in India.
The current global credit crisis has significantly impacted the Indian real estate sector not only in land prices but also other raw materials.
We also see a lot less competition in the market from small developers the flight to quality established brands like ours.
Through the latter part of 2009 and early 2010 we will see the market steadily bottom out.
We are also seeing demand from investors who are reallocating their asset portfolios and look at current values as a asset protection tool to preserve capital and fight inflation.
We continue to cautiously take advantage of these once in a generation opportunities."
Vibrant Gujarat: Ahmedabad is the major city in the state of Gujarat – a leading industrial state in India, noted for its rapid growth and business-friendly environment. Gujarat accounts for 14% of India’s exports and 16% of investments, and the state GDP has been growing at the rate of 9%. On many indicators such as power consumption, cellular connections, car ownership Gujarat outperforms the national average by 2 to 1.
Destination Ahmedabad:With a population of approximately 4.5 million people, Ahmedabad is the 7th largest metropolis in India. Ahmedabad has many educational institutions, the most famous of which is
Indian Institute of Management, a world-class business school. The information technology industry has also developed significantly in Ahmedabad. A NASSCOM survey on the
"Super Nine Indian Destinations" for IT-enabled services ranked Ahmedabad fifth among the top nine most competitive cities in the country.Many large Indian companies, such as the Nirma Group, are headquartered in Ahmedabad. In recent years a number of foreign companies have set up facilities in Ahmedabad. Amongst them are Bosch Rexroth of Germany; Stork, Netherlands; Rollepaal, Netherlands and Johnson Pumps of Sweden. Ahmedabad is also the largest supplier of denim cloth in the country and one of the largest exporters of gems and jewelry in India.
About Hirco Group:Hirco Group of companies includes the various operations in India and the Middle East of
Hiranandani, India’s largest residential builder and leading developer of prestigious mixed-use townships for the country’s increasingly affluent middle class. Hirco’s modern, large-scale developments – combining high quality residential, commercial and retail components with green space and social and recreational facilities – are strategically located in suburban areas outside major city centres.
Hirco Developments:Hirco Developments acts as the development manager and marketing manager for the current Development Projects of the Hirco Group.
BusinessWireFeel 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 5 minutes!)
Call +91 98600 44110 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
Because Darode Jog Properties did not launch this project in Pune, you may feel like they are testing the market in the 'real economy' of Kolhapur. Which is less affected than 'IT economy' of Pune or Mumbai real estate market. But I don't think Darode Jog is using Kolhapurkars as gunny pigs. Because the fact is that though Darode Jog has not launched Greenland County in Pune officially, for the last couple of months they were 'soft selling' it in Pune..(!?)
"Property rate at Darode Jog's Crossover County - possession in 6 months - Rs. 3,500 and at Greenland County -at planning stage - Rs. 3,000 per sq.ft.! Yes, generally affordable homes are more expensive!"
