Builders focus on affordable high end category
The developers in Pune are not deterred by economic slowdown and high interest rates. They are launching a series of projects in high-end, aspirational and affordable housing categories. Mayank Ruia, head of residential business at Phoenix Mills said that the fact that the city is a hub for investment and industry makes it one of the fastest growing cities in the country. The company is planning to develop realty projects in Mumbai and Pune called Fountainhead – residential condominiums – in Vimannagar where it will build 81 (three and four BHK) apartments and duplexes in two towers of 13 floors each. Ruia adds that the company came up with the project idea after doing extensive research in the high-end real estate market in the city.
Sachin Kulkarni, managing director of Vastushodh Projects points out that High-end category has traditionally never suffered from economic slowdown as the buyers in this segment do not really base their buying decision to interest rates. Kulkarni announced recently that AnandGram project at Ketkavale, some 30 km from the city, has options like 1RK (302 sq ft), 1BHK (491 to 520 sq ft) and 2 BHK (741 sq ft) in the price range of Rs 7.5 lakh to Rs 20 lakh.
Source: The Times of India
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