Why You Should Choose a ‘Green’ Home In Pune

Kishor PateKishor Pate, CMD – Amit Enterprises Housing Ltd.

Nothing that we see or know of on this planet has remained the same over the last decade. We have used science and technology to improve the quality of our lives, but the very progress that we are so proud is also proving to be a major danger to the planet.

In the papers and on the news, we hear and read about the detriments of climate change – and yet, the whole concept of environmental sustainability remains an abstract concept to most individuals and even industries in this country.

Unfortunately, real estate has been a major contributor towards the gradual environmental degradation of our cities. In and our urban areas, activities like deforestation and draining of water bodies in order to make way for more buildings are rampant.

We are already noticing the change in weather patterns – hotter summers, shorter winters, failed or insufficient monsoons. There is much to be said for traditional values – a hallmark of the Puneri way of life – but it seems that most of the city is still living in the past, where global warming was a distant concept and not a real and present danger.

In cities like Pune, taking the preservation of the city’s ecology and finite energy resources seriously is now more than important – the city is, in environmental terms, already on yellow alert.

green homeDevelopers need to find better, more sustainable methods of designing their buildings in order to reduce their negative environmental impact.

It needs to be understood that the conventional methods of constructing buildings – as well as inhabiting such buildings post construction – are a major drain on available energy while being the single-largest contributors to greenhouse gas emissions.

There was a time when we took great pride in our city’s unique ecosystems and the rich biodiversity to be found in its open spaces, forested areas and water bodies.

Today, we have come very close to decimating this natural wealth by sacrificing it on the altar of mercenary development.

The price that the city is paying goes beyond mere climate change. Though developing buildings with obsolete construction methods is definitely a major culprit in this respect, there is also a greater price to pay for unplanned development.

Reckless and opportunistic creation of buildings basically amounts to inefficient use of land, which leads to increased energy consumption levels, commuting times as well as air and water pollution. The bottom line is loss in economic performance, vastly reduced quality of life and ever- escalating health concerns.

However, the onus of responsibility does not rest on developers alone. Property buyers must also be attuned to the very real necessity of choosing the ‘green option’.

While the response to the need for environmentally sustainable buildings in this city does fall short of the required mark, many developers in Pune have taken up the cause of creating green buildings. The market needs to respond to this, as well.

As long as the demand for homes in cheaply constructed projects that compromise the environment throughout their lifecycles outweighs that for environmentally sustainable ones, the city’s return to its ‘green’ heritage will remain a distant dream.

Image courtesy of FreeDigitalPhotos.net

Pune Real Estate – A Brave New World

Kishor PateKishor Pate, CMD – Amit Enterprises Housing Ltd.

Pune is growing – literally every single day. It is home to some of the biggest names in manufacturing, IT, services, retail outlets and more. A steady growth of IT and ITES segments has set off the demand for quality residential projects in new areas of Pune.

In fact, the residential requirements of ITES companies will continue to be the primary demand drivers on the Pune residential property market in the future, as well. Today Pune is ranked best for its quality of living and space, educational institutions, climate and affordable cost, compared to other major metros.

In previous times, property buyers in Pune showed a marked predilection for low-rise structures like row houses, twin bungalows and independent bungalows.

Today, this trend has given way to a preference for apartments in multi-storeyed residential projects, thanks to the increasing space crunch in the more preferred areas and the overall economies of scale. It is a simple fact of life that flats in multi-storeyed projects can be mass-produced and therefore come at a lower cost than stand-alone or semi-exclusive homes.

Nevertheless, with a definite crystallization of income segments that has emerged on the simultanous growth of Pune’s industrial sector, the IT/ITES segment and the services industry, there is a more or less balanced demand for all kinds of homes today.

Interestingly, Pune’s developer community has been able to cater to all demand segments throughout, though rates for stand-alone and semi-exclusive units have certainly risen in tandem with the aspiration and purchasing power of the targeted buyers.

With the rapid saturation of Magarpatta, Hadapsar and Aundh, the walk-to-work theory has now been almost fully exploited. The next step on the evolutionary ladder of Pune’s residential property market is the short-drive-to-work concept, which is gaining popularity.

With the emergence of more and more projects that offer this facility in key locations, Pune properties are set to become even more attractive investment opportunities. Many developers are actively facilitating this concept in areas such as Baner, Undri and Ambegaon.

AEHL Project

Meanwhile, there are definite danger signals ahead. If not kept in check by a more rational supply pipeline, the ever-increasing property prices in Pune could eventually rob the city of its competitive edge as an investment destination in the face of stiff competition in the IT/ITES race from cities like Chennai and Hyderabad.

Inadequate infrastructure is another key issue. The city’s planning authorities should observe and learn from the steadily declining state of affairs in the larger cities and take steps to ensure proper planning of infrastructure to match the growth.

As the Pune property market in set to grow further in the times ahead, it looks forward to more proactive support from the state government and local municipal authorities in terms of taking the necessary steps. With a conducive environment for growth, Pune is all ready to be a mega city of the future.

Grand Design – Does Aesthetic Architecture Sell Homes In Pune?

Kishor PateKishor Pate, CMD – Amit Enterprises Housing Ltd

Many factors play a role in a purchase decision by a home buyer in Pune. The price is obviously a major one, regardless of which value segment is in question. Even buyers who are on the market for luxury homes in Pune will shy away from an outrageously high price tag.

Another big influencer is location – proximity to workplaces, schools, hospitals and shopping outlets, availability of public transport and generally good connectivity are all important in this regard.

But today, Pune property buyers are also looking for that decisive extra – a variable that makes them decide on one particular project above the multitude of others available. With this, I am referring to superior architectural design.

An obvious question in the mind of a residential property investor would be – does architectural design really make such a big difference in a cost-conscious market like Pune?

Would Pune property buyers not rather zero in on the right price and location? The answer is yes – it does matter. In fact, it matters quite a lot in today’s evolved real estate market scenario.

One needs to understand the difference in expectations of residential property buyers in Pune as opposed to those from the larger cities such as Mumbai.

In Pune, buyers expect a certain degree of architectural grandeur as they are not merely seeking homes – they are seeking addresses. By this, I mean they wish to own homes that can also act as their very own ‘brand ambassadors’.

Pune property buyers have every reason to expect that extra edge of architectural magnificence to their residential property investment.

In the first place, property prices in Pune are much lower than in neighbouring Mumbai – a city where final value is measured almost solely on how many square feet of carpet area can be obtained.

In Pune, larger homes for the same price are a given. At the same time, there are numerous projects that have units on sale within the same price bracket in almost all locations. As we go higher up the value chain, property buyers in Pune expect distinct differentiators and value-adds from their investments.

Architecture and design are among the aspects which developers in this city can exploit to set their projects above the rest. Aesthetics play a big role when it comes to the final decision.

Aesthetic homes

The younger set of Pune’s residential property buyers tend to have evolved tastes because they have been exposed to a number of value propositions when it comes to buying a home.

With the aspirational quotient being quite high, there is a distinct tendency to prefer homes in projects which have factored in the latest architectural designs – both in terms of environmental sustainability and aesthetics.

Projects which have not been able to inculcate the fast-emerging culture of homes that please the senses as well as the pocket are definitely not on the hit-parade anymore.

Though it represents a higher investment outlay, higher accomplishment in design and architecture parameters tend to be the winning ticket for residential projects in Pune.