PENINSULA Land, a leading corporate real estate developer, part of the Ashok Piramal Group, have sold over 650 apartments at their newly launched affordable luxury project ‘addressOne’ in Gahunje, Pune. The value of these apartments sold is over Rs 150 crores making it one of the most successful launches for Peninsula Land.
Spread across 50 acres, addressOne is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium. The project offers five typologies of apartments (1BHK to 3BHK) having attractive prices starting from INR 18 lakh (inclusive of stamp duty, registration, and other taxes).
The project aims to provide ‘Luxury for All’ to its prospective home buyers by providing homes that are both luxurious as well as affordable. In its first 4 phases, the company launched approximately 900 units for sale that comprises of 51 four-storeyed buildings consisting of just four apartments per floor. This is Peninsula Land’s first affordable luxury project in Pune, after their completed and highly successful luxury project Ashok Meadows in Hinjawadi. addressOne is designed by renowned architect Hafeez Contractor. The company has tied up ANAROCK Property Consultants as their strategic partner.
Nandan Piramal, director, sales and marketing, Peninsula Land Ltd. said, “We are overwhelmed with the strong response received for our project addressOne in Gahunje. We recently launched this project and we have already sold over 70 per cent of the 900 units opened for sales at our project. We, at Peninsula Land, are firm believers in the ‘Housing for All’ mission, and addressOne is our first step towards working towards this belief.”
The Pune market overall holds great promise given its proximity to Mumbai and the thriving IT & ITES industry in Pune. There is great potential in this market overall but locations like Gahunje are likely to spur the residential demand. Real estate being a price sensitive business, demand for affordable housing is always high.
Gahunje is emerging as a residential location on the Mumbai–Pune expressway that offers easy connectivity to Pune, Mumbai and Navi Mumbai. This has led to the industrial development in the area. The nearest railway station from this popular region is the Akurdi railway station. Other social infrastructures like MCA cricket stadium, Symbiosis University, renowned D Y Patil College, Aditya Birla hospital enhance the importance of this area. Gahunje is also connected to arterial roads like MIDC that offers good connectivity to other locations. Hinjewadi IT Park, Talwade IT Park are also in close proximity to the location.