First 100 plus acre township launched in the last 2 years of recession in Pune real estate market!
In the first week of October 2007, after the sub-prime crises in U.S., Deepak Parekh, Chairman of HDFC, announced that Indian economy and real estate in particular is badly hit and slowing down.
However, in the last week of the same month, on October 27, 2007, Paranjape Schemes, in which HFDC has a stake, launched Blue Ridge Hinjewadi, first integrated township of 100 plus acres in Pune real estate market which had foreign direct investment.
Though most of the experts were rejecting the real estate slow down as a "short term phenomenon", or "not as serious as 1996" , Kumar Properties and Avinash Bhosale Group launched their 100 plus acre integrated township with foreign direct investment Megapolis in the third phase of Hinjewadi without any fanfare in the last week of April 2008.
Sensing the impeding danger, on the first day of June 2008, Mr. Satish Magar not only opened the mega-shop Nanded City Pune without any merchandise but pre-sold the future stock too! However, since Nanded City Pune has Magapatta City and Amanora Park Town at Hadapsar type farmers ownership and business model, it is not in the league of Blue Ridge and Magapolis.
Point is, launch of PRA Reallty's The Lake District ( www.thelakedistrict.co.in ) , 100 acres plus township with foreign direct investment, nearly two years after the launch of Blue Ridge Hinjewadi, proves that every patient admitted in the Intensive Care Unit (ICU) doesn't die. The patient can survive and enjoy few happy moments in the process of recovery!
Click to Enlarge 
Related Stories:
1) Sunday, June 29, 2008PRA Realty, Pune real estate developer, to launch residential integrated townships in Pune, Nashik and Nagpur
2) Ravi Karandeekar's Pune Real Estate Market News Blog - most popular blogs - August 2009
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 5 minutes!) Call +91 98600 44110If 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.
Check my Google Profile: http://www.google.com/profiles/ravi.karandeekar
Subscribe for Free!
To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News BlogFor 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
OK, so we have yet another chance to become not world citizen (aka Blue Ridge) but citizen of this Universe!
ReplyDeleteNice, but what would be the price to pay for that?
20K per sq. ft., I suppose....
OR Rs. 2.5 crore for a 2-Bhk flat?
How is response to Lake District, Kondhwa? Is the rate of Rs.2300 ok for the area?
ReplyDeletewhen is the possession for this?
ReplyDeletePRA get good response to Lake district. I personally visited their sample flats in The Lake District. after viewing flats I can say that PRA is doing marvelous job in real estate field of Pune.
ReplyDelete