Less hope for residential projects in Pune from new industrial policy
With the new industrial policy in place, there is no much hope for increasing housing stocks in Pune.
Even officials of Maharshtra Industrial Development Corporation (MIDC) have admitted that majority of the SEZs will not have enough land left with to implement the schemes.
Even, the realtors have pointed out lack of basic civic infrastructure as one of the major hindrances in setting up affordable houses in SEZs.
As per data gathered, Pune city has 15 SEZs on more than 1,400 hectares of land and majority of these are in Haveli and Mulshi talukas of the city.
The new policy which was recently announced has kept aside 40% of land for real estate purpose. This includes setting up of special townships centered on major industrial zones, residential projects, etc.
Majority of the SEZs that exist in Pune are of less area like 10- 30 hectares and keeping 40% from that land would mean exiting from the SEZ and the question of compensation would arise.
In the city, majority of them are single product and not multi product SEZs. So, there won’t be much land to unlock for building residential projects in Pune.
Furthermore, if any real estate project comes up in the city, then it will also boost the basic civic infrastructure which is a positive sign.
Also, it is seen that the housing sector of Pune will take at least two years to materialise and civic infrastructure will decide the factor whether special townships or other big real estate projects will come up in the SEZs.
As per experts, the main motive of such a policy was to ensure development of the region but with the given infrastructure, it is a big question.
Click here for related forum discussion
Related Real Estate News:
Maharashtra’s new industrial policy criticized, favours developers
FSI increase on MHADA housing colonies in Pune on hold
Image courtesy of watcharakun at FreeDigitalPhotos.net
Affordable houses, Haveli, housing sector of Pune, industrial policy, Maharshtra Industrial Development Corporation, MIDC, Mulshi, new industrial policy, projects in Pune, Properties in Pune, Pune, residential projects in Pune, SEZ
