REALITY BYTES: Now, walk to work
PUNE, PAGE 7, DATE: 1ST JANUARY 2008
With the rising population and shrinking real estate scenario in the city, integrated townships are projected to be the next big thing. As Rupa Chapalgaonkar finds out, a walk to work culture is already catching on
If permission to construct high rise buildings, repeal of the Urban Land Ceiling and Regulations Act and the ever rising real estate prices were the talk of the town in the year 2007, so were the proposals of integrated townships around the city.
If all goes well, next year, Pune is all set to roll out at least a dozen of these mega structures. While four townships were announced in 2007, proposals to sanction at least a dozen more lie with the state urban development department.
With very little land available inside the city, townships, which need to be essentially built on 100 acres of land as per the state government’s special township policy are being favoured by city developers, says Lalitkumar Jain, president, promoters and builders association of Pune (PBAP). Moreover, with the ‘walk to work’ culture fast catching up and, with people becoming more safety and security conscious, townships are definitely becoming a popular choice, he states.
As per the regulations for development of special townships, the entire township should be integrated with all facilities within the boundaries of the declared townships. All the on-site infrastructure, roads, including regional plan roads, approach road, street lights, water supply and drainage system is to be provided and maintained by the developer till an urban local body is constituted for such area. The developer is supposed to also carry out development of amenity or proposals, if any, designated in the regional plan, in accordance with the prevailing regulations.
While the Magarpatta Township in Hadapsar is the city’s first model township, it is only after almost a decade since Magarpatta was launched that developers are thinking big and going in for building townships as per the special township policy.
The much-hyped township project in 2007 was undoubtedly the Amanora Park Town, a 470 acre township in Hadapsar. Being developed by City Corporation, the township aims to provide around 16,000 units and will be a self-sufficient and self-reliant township in terms of water supply, power, roads, schools, colleges and hospital. Moreover, the township will also have a full-fledged market city which will comprise of 350 hotel rooms, multiplexes and shopping areas. Pegged to be over Rs 5,000 crore, according to Aniruddha Deshpande, managing director, city corporation limited, customised townships are becoming a feasible option.
The first being, customers will get a good appreciation for the property they buy in a township and secondly, its safety and security aspect. While developing a township is definitely a lengthy and tedious affair on part of the developer, for the customers, the township is definitely a highly protected zone in all aspects as the developer has to seek at least 50 odd permissions to get his township sanctioned.
Deshpande has set a completion target upto 2013 and has already launched 1,000 flats four months back, 725 flats of which are already sold. The second big township project, Blue Ridge, a joint venture between Paranjape schemes and Indiareit fund, is being developed right inside the IT hub of Pune, Hinjewadi. Estimated to be around Rs 3,200 crore, it is spread across 138 acres. Besides amenities, a boat club with kayaking, golf drives, squash courts, badminton courts and beach volleyball, the township will also have a fruit orchard and a pet zoo.
The Goel Ganga group has received sanctions to build a 100-acre bungalow plot township in Wagholi. The township is expected to be completed in the next four years and will cost the group Rs 1,000 crore, confirmed Atul Goel, managing director, Goel Ganga group. Kumar builders, led by Lalitkumar Jain, is awaiting sanction for four townships, two each in Hinjewadi and Kharadi. While the Hinjewadi townships will be built on 300 acres of land, similar-sized townships will be build in Kharadi, revealed Jain. The year 2007 also saw the state government signing a memorandum of understanding with US-based Vornado realty which will develop $200 million township in Hinjewadi to promote the ‘walk to work concept’.
Integrated townships are billed as the next big thing in real estate
