Republic Day of India:
Yesterday, I visited Megapolis (www.megapolis.co.in), 150 acre township in the third phase of Rajiv Gandhi Infotech Park at Hinjewadi, Pune 411 057. Yesterday was an Indian Republic Day is only a coincidence. Neither I wanted to prove that Indians can visit any part of India. Nor i wanted to host a flag.
I visited Megapolis only because i enjoy walking and looking at Megapolis Smart Homes and 21 story towers of Sangria. Particularly, in the evening. Have a look:
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| 3 Acre Recreational Ground for Megapolis Smart Homes 1, 2, & 3 - located between Sunway Megapolis Smart Homes 2 and the dividing road - Megapolis on 26th January 2011 |
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| A 4 Building of Sunway - Megapolis Smart Homes 2 - Megapolis on 26th January 2011 |
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| Tata Consultancy Services and Sunway - Megapolis Smart Homes 2 share common compound wall! - Megapolis on 26th January 2011 |
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| Recreational Ground, Sunway Megapolis Smart Homes 2, TCS, & Tech Mahindra - Megapolis on 26th January 2011 |
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| Megapolis Smart Homes 1 - A 19 - A 21 Towers - Megapolis on 26th January 2011 |
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| Megapolis Smart Homes 1 - A19 - A 21 Towers - Megapolis on 26th January 2011 |
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| Megapolis Smart Homes 1 - A 4 - A 5 A 6 Towers - Megapolis on 26th January 2011 |
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| Megapolis Smart Homes 1 - A4 to A 6 & A 3 TO A 19 Towers - Megapolis on 26th January 2011 |
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| Rajiv Gandhi Infotech Park Phase 1 Hinjewadi, 40 meter wide road and Megpolis Smart Homes 1 - Megapolis on 26th January 2011 |
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| 21 Story Sangria Megapolis - B & C Towers - Megapolis on 26th January 2011 |
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| Balconies of Sangria Megapolis - Megapolis on 26th January 2011 |
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| Rajiv Gandhi Infotech Park Phase 3 Hinjewadi Pune 411 057 and Megapolis Smart Homes 1 & TCS - Megapolis on 26th January 2011 |
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| Grand Entrance & Ramp of Sangria - Megapolis and Megapolis Smart Homes 1 & TCS - Megapolis on 26th January 2011 |
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| Megapolis Smart Homes 1 & Sangria Megapolis - Megapolis on 26th January 2011 |
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| Sangria Megapolis and Man Road - Megapolis on 26th January 2011 |
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| From Man to Baner Road - Megapolis on 26th January 2011 |
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| Megapolis is surrounded by reserved forest - Megapolis on 26th January 2011 |
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| Flowers and Towers of Sangria Megapolis from Man Road - Megapolis on 26th January 2011 |
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| Podium of E Tower of Sangria, Megapolis Smart Homes 1 & 2 and TCS - Megapolis on 26th January 2011 |
Related Stories:
1) THURSDAY, JANUARY 27, 2011
Property Prices of Sunway - Megapolis Smart Homes 2:
2 BHK & 2.5 BHK Flats at Hinjewadi Phase 3, Pune 411 057
2) MONDAY, JANUARY 3, 2011
Availability at Megapolis Hinjewadi Phase 3
3) SATURDAY, JANUARY 1, 2011
December 2010 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog
4) SUNDAY, JANUARY 2, 2011
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Could you please update on the current rate ?
ReplyDeletehas the builder cancelled the school and commercial part of the township? with smart homes 2 and three, where is the place for a mall/multiplex.congrats to the buyers who have bought property in the middle of nowhere and happy journey to them for the daily trips they will have to make to wakad/baner to buy bread and watch movies and shop!!
ReplyDeletesaccha, how dare you ask such difficult question on Ravi's blog? Megapolis are his "favourite" builders, you know what I mean?
ReplyDeleteDear Saccha, No. The builder hasn't cancelled the school and commercial part of Megapolis. It's there where it was originally planned. Obviously, commercial is at the Island - Tech Mahindra end of the road. School - Symbiosis - will be at the end of the road. If you had visited the site office of Megapolis you could have seen it on this model:
ReplyDeletehttp://www.flickr.com/photos/ravikaran/4982771273/in/set-72157624940528106/
Hello Mistral! Yes. You are right. Megapolis is my favorite project. And you are my favorite reader. I love you.
ReplyDeleteDear Saccha, thanks for congratulating nearly 3,000 families who have already booked flats - and i am sure, you would like me to pass on your congrats to 5,000 more families who will book in Megapolis which is at the end of 750 acre sez where 2,50,000 people would be working.
ReplyDeleteI feel that i should give you a treat at the food-court of Megapolis!
Hi Ravi,
ReplyDeleteGreat to hear that commercial and school exists in model. Question is : will the model undergo change with the kind of response this project has got?With rental/lease costs in hinjewadi being prohibitive, companies are shifting to kharadi and hadapsar side.The 750 acres SEZ you talk of currently has tyre and repair shops which you can see on the way to this project and TCS. Kolte has just launched a scheme and so has sobha developers. oversupply will see many dreams of rental income shatter.These are salaried folks who pay all tax and this is their hard earned savings.
I sincerely hope all the optimism is correct otherwise as Gordon gekko said: " its only the sheep who get slaughtered sport"
Cheers.
Dear Saccha,
ReplyDeleteYou said:
1) "will the model undergo change with the kind of response this project has got?"
What "kind of response"? Please, be specific.
What is "the model"? Please, be specific.
2) "companies are shifting to kharadi and hadapsar side"
Which companies in the 3rd phase have shifted to Kharadi?
3)"The 750 acres SEZ you talk of currently has tyre and repair shops which you can see on the way to this project and TCS."
Really? In the 3rd phase? I haven't seen any!
4) "oversupply will see many dreams of rental income shatter"
Are you aware about the supply per year in the next 5 years? Can you tell me the required rental accommodation in the same period of time?
I admire your way of thinking! Keep it up!! But keep on giving supporting data.
Ravi , i think you are taking this thing very personally given your vehement responses!! You are a independant commentator so your tenor was surprising !!
ReplyDeleteAnyways . Model means if due to the excessive demand, the builder might cancel the proposed school and commercial part and go for more residential development in that space as well.
he might , he might not of course. but if he does, peolple who have booked have a big problem.
Shifting did not mean literally shifting but meant that companies are now prefering to go to other more cost effective palces than phase 3. I did see the tyre repair stuff and next time i visit India i will click photos and send you!!
I do not have data for the next 4-5 years vis-a-vis the requirement of rental accomodation and supply . But you being a property expert and being so gung-ho about this project, can you please provide the necessary data to enlighten us about the feasibility of this project from the view of a person hoping to have returns in form of rental?
Dear Saccha! Glad to know that you are not in Pune! I wonder how can you jump to these conclusions without any substantial information. Oh! The way you invest, hope, fear and expect from others is amusing!!
ReplyDelete"Hello Mistral! Yes. You are right. Megapolis is my favorite project. And you are my favorite reader. I love you."
ReplyDeleteEasy tiger! You are worrying me now.
saccha.."I do not have data for the next 4-5 years vis-a-vis the requirement of rental accomodation and supply . But you being a property expert and being so gung-ho about this project, can you please provide the necessary data to enlighten us about the feasibility of this project from the view of a person hoping to have returns in form of rental?"
ReplyDeleteRavi, seriously, do you have that data?
Mistral, data can't change the attitude!
ReplyDeleteAsking for the data after taking a decision shows that how informed decisions we take!
"Asking for the data after taking a decision shows that how informed decisions we take!" I agree.
ReplyDeleteBut do you have the data.
What data?
ReplyDeleteNice try Ravi.
ReplyDeleteThe data that you were asking saccha if he had it.
"Are you aware about the supply per year in the next 5 years? Can you tell me the required rental accommodation in the same period of time?"
Dear Mistral, you visit my blog regularly and post comments. Your comments show that you know Pune real estate market quite well. So, i don't have to tell you anything about the availability and the cost of the authentic data. Right? You also know why i give my contact information on every post. Right?
ReplyDeleteRavi,
ReplyDeleteWill many projects in Hinjewadi park increase the supply? Also IT companies in Pune are spread on all sides of Pune.. does it affect the demand?
What rent will you expect from Sangia 2BHK/3BHK from May 2012?
Renting out a flat in a tower which has more than 20 floors - in a 150 acre township - where builder is taking responsible for provide water, electricity, waste management, safety & security, and internal roads - would happen for the first time!
ReplyDeleteSo, logically, anyone who values these services would be happy to pay more than in Wakad and Baner - Balewadi!
Gaurav, in Megapolis investors who want to give their flats on rent are less in numbers. In minority.
ReplyDeleteMore number of people - who have a budget less than 30 - 35 lakhs - today - around 50 lakhs in the next 2 years - would not be able to buy a home. So, number of people looking for rental accommodation will increase.
When the project becomes operational - it becomes desired place to live. So, you will see that people not working in Hinjewadi would be looking for a rented flat in Megapolis.
Like hotels - rented flats also don't have 100% occupation rates. So, you have to work to make your flat - project - attractive to rent and market it.
So Ravi, you don't have the data then. Fine.
ReplyDeleteI hope you won't ask your readers for the data from now on.
"When the project becomes operational - it becomes desired place to live. So, you will see that people not working in Hinjewadi would be looking for a rented flat in Megapolis. "
ReplyDeleteHi Ravi,
I admire your view about Megapolis but where is the social infrastructure? There is not a single news on that side.
The premium apartments are ready but school, mall, multiplex, hospital are not even under-construction, forget about being ready. When the social infrastructure missing, do you really think anybody will move in to stay in Megapolis? I strongly think that it is investors who have bought homes to make a quick buck. Not a single Pune resident is going to occupy the house. In the best case, it will be young workforce of IT park who will stay in these apartments on rental on temporary make-shift basis. Note that even this crowd needs mall and multiplex if not school and hospital.
"When the project becomes operational - it becomes desired place to live. So, you will see that people not working in Hinjewadi would be looking for a rented flat in Megapolis. "
ReplyDeleteHi Ravi,
I admire your view about Megapolis but where is the social infrastructure? There is not a single news on that side.
The premium apartments are ready but school, mall, multiplex, hospital are not even under-construction, forget about being ready. When the social infrastructure missing, do you really think anybody will move in to stay in Megapolis? I strongly think that it is investors who have bought homes to make a quick buck. Not a single Pune resident is going to occupy the house. In the best case, it will be young workforce of IT park who will stay in these apartments on rental on temporary make-shift basis. Note that even this crowd needs mall and multiplex if not school and hospital.
Absolutely valid point Ajay.
ReplyDeleteWhere is the school, mall multiplex for the people of the Sangria /premium towers who will take possession?
And Ravi, do please address the actual issue/point without meandering or cofusing or exhibiting outrage or hysterics!!!
Looks like because of the late realisation of these and many other factors, balwantpuram in Paud now seems to have become your "favorite" project. Hey , i thought Megapolis was your eternal favorite !!!
You are right Ajay! Young workforce of IT needs mall and multiplex. Paranjape Schemes believe that they need a boat club too. I want them to have a five star hotel, golf course, at least one club in Megapolis today itself. You are right. How can anyone live without these facilities? Megapolis should have constructed all these facilities before the residential towers. It'a always done in any project in any city on this earth. Dear Ajay, you are right!
ReplyDeleteDear Saccha, you are right.
ReplyDeleteThe mall - at least as small as Ishanya Mall at Yerwada,
not 15 screen like Magarpatta but at least 7 screen multiplex,
Pre-KG to 10th school and even a junior college
should be ready at the time of the possession of the 1st flat in the 1st tower of Megapolis.
Walk to work is not enough.
Walk to Multiplex & Mall is the real life.
I think the developers of Megapolis are not aware that they are constructing this project in one of the developed country in the world. Here all these facilities are basic necessities and are always ready at the time of the possession of the 1st flat in the 1st building in the township.
Dear Saccha, Megapolis needs a consultant like you!
Dear Saccha, my reply depends upon your comment.
I live in Shivtirthnagar on Paud road. Balwantpuram Samrajya is my neighbor.
And, i love my neighbors.
And, my readers - Saccha, you!
Hi Ravi,
ReplyDeleteYou have to agree that Megapolis is far away from city. So essential social amenities have to be present in/around Megapolis. I didn't mean that these amenities have to be present from day 1. But there has to be some news about their progress.
In sarcastic language like yours, I would say :
I thought Megapolis is "township" and not just a "residential complex". My bad :)
Hi Ravi, Thanks a lot for providing information on blog & your review comments. Before purchasing property, I checked your blogs as well as few other sites/members reviews. I have purchased apartment in the Sagria. I am happy about it.
ReplyDeleteCurrently, I am not in India so Just I would like to understand from you… I heard another 2-3 IT park phases are planned to launch in the same area. How you see impact of it on this Megapolis project.
Hi Ravi,
ReplyDeleteIs it wise of invest in Megapolis @Hinjewadi compared to investing in certain projects in wakad or pimple saudagar area? I understand that you have lower rates in Hinjewadi and may be for 2 BHK you will save about 4 to 5 Lacs today.But consider the appreciation Hinjewadi will have compared to areas like Wakad, Pimple Saudagar/Nilakh. I feel that Hinjewadi will lag behind in terms of giving returns on your investment. There is clear lack of other development in the area except the IT parks.
Regards,
Abhijeet