The city of Pune is a growing IT/ITeS hub attracting working professionals from across the country. Hence, it is no surprise that IT/ITeS professionals primarily drive the demand for residential real estate in the city. Gauging the increasing demand, developers have been trying to provide adequate supply. However, the timely delivery of under-construction projects has been a pain point among homebuyers for long.
Painting a different picture, 38-year-old Pune developer VTP Realty has been known for constructing and delivering residential units on time. Recently, the developer has handed over keys across its five projects in the city and organised gruh pravesh for 1,778 families. The projects include VTP HiLife at Wakad, VTP Bel Air and VTP Leonara in Township Codename Blue Waters at Mahalunge, VTP Beaumonde and VTP Cygnus in Township Codename Pegasus at New Kharadi.
Maintaining its exceptional track record of delighting customers, VTP Realty hosted yet another grand "Gruh Pravesh" event, welcoming over 600 families on the auspicious occasion of Dusshera.
VTP Realty projects
Have a look at the key project details offered by VTP Realty.
VTP HiLife, Wakad
The VTP HiLife project is located at Dange Chowk in Wakad, about five km and 10 km from the IT zones of Hinjewadi and Baner, respectively. The project offers homes configured as 1 BHK, 2 BHK and 3 BHK in the price range of Rs 63 lakh to Rs 1.3 crore, excluding government charges (Source: 99acres). In addition to the locational advantage, the gated project features 40 plus amenities, including a four-tier security system, 24x7 water supply, and sewage treatment plant, among others. The project also has a thriving social infrastructure with a network of schools, markets and hospitals within a five-km radius. As per 99acres, the prices of HiLife homes have gone up by almost 10 percent annually, which may increase further with the establishment of the Wakad Chowk Metro Station and Phoenix Market City Mall in the area.
VTP Bel Air and VTP Leonara, Mahalunge
The VTP Bel Air and VTP Leonara projects are located inside the Township Codename Blue Waters at Mahalunge. The projects offer residences in the configuration of 1 BHK, 2 BHK and 3 BHK units. The starting price of the projects is around Rs 37 lakh, the upper range of VTP Bel Air is about Rs 90 lakh and around Rs 1 crore for VTP Leonara. Built with earthquake-resistant RCC structures, the projects boast 100 percent power backup, video door phones, and solar connection in master washroom, to name a few.
The area of Mahalunge in West Pune is situated along the Mumbai-Pune Highway or National Highway (NH)- 48. It is in proximity to major commercial spaces of Hinjewadi, Baner and Wakad, that fall within five km. In addition to excellent road connectivity, the locality has a planned metro station nearby at Wakad. Further, the residents of VTP Bel Air and VTP Leonara also have access to a sound retail network of restaurants and shopping complexes, apart from reputed schools and hospitals in the locality.
VTP Beaumonde and VTP Cygnus, New Kharadi
Located within the Township Codename Pegasus at New Kharadi, VTP Beaumonde and VTP Cygnus offer multiple residential units. While VTP Beaumonde has 2 BHK and 3 BHK units priced between Rs 68 lakh and Rs 1 crore, VTP Cygnus has 1 BHK, 2 BHK and 3 BHK homes priced around Rs 37-75 lakh. The 27-storey tall projects have vehicle-charging points and installed intercom facilities in every home. Further, each unit is equipped with an advanced home automation system with Alexa compatibility, like mood lighting, AC/fan and geyser control, featherlite touchpad switches, and motion sensor lights in all bathrooms.
Also known as Manjari Khurd, New Kharadi in East Pune is within 10 km from the commercial hubs of Magarpatta, Keshav Nagar and Mundhwa. The Hadapsar Industrial Estate and Pune Airport are slightly over 10 km from the township. The connectivity is majorly dependent on the existing road network. However, the Hadapsar to Kharadi metro route is expected to facilitate travelling more. The projects are surrounded by several healthcare facilities, educational institutions and retail options, thus, adding to their ease of living.
Pune residential market: An overview
The Pune housing segment has been witnessing increased demand, courtesy of the return-to-office trend, coupled with the hybrid working model adopted by most organisations. As the city is a hotbed of IT and allied companies, more demand is near the key employment zones like Hinjewadi and Kharadi. As per Knight Frank India, the year 2022 recorded the highest sales since 2013 at nearly 45,000 units and saw launches of almost 40,000 housing units. The sales volume in the studied year grew by around 17 percent in comparison to the previous year i.e. 2021.
How to select the right developer for your dream home?
As home ownership generally requires a large sum of investment, many feel apprehensive about taking the plunge despite having the desire to buy a home of their own. Although State Real Estate Regulatory Authorities (RERA) have helped make the sector increasingly transparent, it is still imperative to do due diligence before investing. Here are some tips to keep in mind-
Thorough background check
Before you select the real estate project you wish to invest in, check the historical performance of the property developer. Check if the developer has an International Organisation for Standardisation (ISO) certification and the necessary No Objection Certificates (NOC) from the respective local authorities. Also, find out if the developer has been able to deliver residences on time, and if there are any concerns regarding their construction quality. You can also take the help of State RERA bodies, and check their grievance portals to see if there are any complaints raised against the developer in question.
Talk to existing customers
One of the best ways to know if a developer is trustworthy is by connecting with people who are already living in projects by the company. You may also consider looking at the Reviews and Ratings section by property portals like 99acres to know how the residents fare different aspects of a project. This process may help identify if the developer is worth the investment you plan to make.
Engage a legal expert
While buying a property, homebuyers may often not know if the developer of a project is engaged in legal tussles. Investing in such a project may not be favourable. Hence, it is recommended to consult a legal expert to look into any encumbrances the developer may have. Although this step may cost an additional fee, it may be helpful in the long run and help prevent disputes.
Talking about the role and responsibility of developers, Sachin Bhandari, Executive Director and CEO, VTP Realty, shares, “When a developer like VTP Realty becomes an industry leader, the projects soon become best sellers in the market. That position is of immense responsibility. We have been entrusted to build homes for several families year after year. And, the organisation strives to deliver homes that delight.”
With Pune increasingly contributing to Indian real estate with a diverse portfolio of realty projects ranging from residential and commercial to industrial, their timely completion and delivery are of utmost importance. VTP Realty’s record-breaking endeavour to take homebuyers a step closer to their dream house showcases how strong the Pune property market is. Thus, it is hoped that the sector continues with its positive streak courtesy of names like VTP Realty.
