Project in Focus: Kanakia Cyprus, Pune
The urban agglomeration in Pimpri-Chinchwad region of Pune has developed due to the presence of a thriving industrial belt nearby and is presently a source of new opportunities for several developers, investors and homebuyers. Tathawade is a micro-market of this region which is witnessing new residential launches such as the recently launched Kanakia Cyprus by Kanakia Spaces.
PropGuide brings a glimpse of this premium property:
About the property
RERA ID: P52100000561
Cyprus is an under-construction housing community spread over 1.29 acres in a desired residential pocket of west Pune. The project offers 107 units of 2BHK and 2.5BHK homes sized between 875 sqft and 1,039 sqft. Launched in July 2017, the apartments will be ready for possession by June 2021. Kanakia Cyprus is a well-planned property with internal roads and footpaths while the houses are spacious with luxury fittings, designed to meet the needs of contemporary apartment dwellers. There is a host of lifestyle amenities available for the residents which include:
*An open parking area and 32 proposed covered parking spaces
*A rainwater harvesting system
*A sewage and sullage water disposal and treatment system
*A gymnasium
*A swimming pool
*A clubhouse
*An indoor games facility
*A children's play area
The developer
The property has been developed by Kanakia Spaces Realty which has over three decades of industry experience. It has successfully delivered around 14 million sqft of space across domains like commercial, residential, entertainment, education and industrial spaces. The company is a national record holder in the Limca book of records for the Largest photo gallery on Mumbai.
Neighbourhood
Flanked by the Punawale Road, the property is situated opposite municipal market in Tathawade. The locality is a part of Pune's fast developing suburb of Pimpri-Chinchwad. Proximity to an IT hotspot as well as mid-sized and large national and multinational companies close by is the biggest advantage of this locality which is why one would find many residential and commercial properties which are in various stages of construction. Among the upcoming residential properties in Pune, over 100 are in Tathawade itself with about half of them under construction stage.
Infrastructure and connectivity
The locality is well connected to Mumbai via Mumbai-Pune Expressway and has road transport network including the Kiwale-Sangvi route. A railway station is situated within eight kilometres from Tathawade while the nearest international airport is 46 kilometres away.
There are many automobile companies in the vicinity which provide occupation for locals. In addition, reputed engineering colleges, law college and other institutes of higher education are present within five kilometres' distance. Social amenities such as hospitals, restaurants, primary schools, local markets and retail shops, etc. are available in plenty. The development plan for Tathawade was recently approved by the government following which development of many public facilities are underway.
Average price in the area
The average price of residential properties in Tathawade is Rs 5,600 per sqft. Residential plots and 1BHK apartments of size 680 sqft have an average price of Rs 32 lakh. A 2BHK apartment of size 900 sqft has an average price of Rs 60 lakh. A 3BHK apartment with size 1,030 sqft has an average price of Rs 76 lakh.
PropGuide's verdict
The property is suitable for investment purposes. Owing to IT offices of Hinjawadi in proximity, Kanakia Cyprus is recommended for working professionals and new homebuyers.
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