Project Of The Week: Megapolis Smart Homes, Pune
The Deccan Queen, Pune, being one of the biggest IT hubs of the country and one of the largest manufacturing hubs for the auto industry, is now becoming a city of choice for a wide variety of residential projects. The city caters to a wide variety of property seekers ranging from affordable to luxury and looking for residing or investment purposes. The city, having a multi-cultural vibe, offers a colourful living environment to the residents. The city is being outlined by some of the leading Indian developers, one of which is Pegasus Properties. The developer has come up with one of its latest residential project here under the name Megapolis Smart Homes in Hinjewadi.
PropGuide takes a closer look at the project:
The project
Megapolis Smart Homes has been designed in a way that it pleases the potential home buyers, providing a home filled with utmost comfort and luxury. Sprawling over a land area of 150 acre, there are 1184 residential apartments in Megapolis Smart Homes. These are apartments are a mix of 1BHK and 2BHK configurations.
The project, which was launched in May 2006, was delivered to home buyers in July 2011 and is currently available for resale. The developer has laid special focus on designing of the project covering every aspect of beauty, comfort and symmetry. The residential units here are available in sizes—600 sq ft and 950 sq ft. The community has plenty of amenities to offer, which include:
The locality
Hinjewadi is a residential locality surrounded by well-developed infrastructure. The area lies between prominent localities including Pimpri, Chinchwad, Wakad, Aundh, Balewadi and Baner. The project is situated in proximity to the Pune railway station and the Rajiv Gandhi Infotech Park which is home to several corporate and IT conglomerates like Wipro, Tech Mahindra, TCS, Infosys, IBM, and Cognizant.
Some of the key locational advantages of Megapolis Smart Homes are:
Infrastructure & future prospects
As one of the largest cities of India and major centre of learning with several colleges and universities, Pune is emerging as a prominent location for IT and manufacturing sectors. Pune has the eighth largest metropolitan economy and the sixth highest per capita income in the country. Pune International Airport is an international airport located at Lohegaon. Local trains connect Pune to the industrial town of Pimpri-Chinchwad and the hill station of Lonavala, while daily express trains connect Pune to rest of the India. The Pune Metro system has been proposed and is being planned in consultation with Delhi Metro Rail Corporation Limited. With the developments in the infrastructure, the real estate in Pune has witnessed a high rise in demand.
The price
The apartments at Megapolis Smart Homes can be purchased only via resale. The price of 3BHK+3T is Rs 6,130 sq ft; for a 2BHK apartments range between of Rs 5,060 sq ft to Rs 6,134 sq ft depending on which floor it is; and a 1BHK unit can be bought for Rs 6,000 sq ft-Rs 6,153 sq ft depending on which floor it is. The price is on par with the average property price of the locality.
The developer
Pegasus Properties, founded in 2008 as a joint venture between Kumar properties, GIC, MIDC and Avinash Bhosale, is a well-known infrastructure construction company. The Pegasus Properties focus on developing modern townships within cities and Megapolis Smart Homes is its first venture.
PropGuide's remarks
Parameters | Remarks |
Project | Very good |
Price | Good |
Locality | Good |
Developer | Good |
Overall recommendation
Now is the right time to invest in Pune as the city is only going to witness a rise in property prices with more and more people coming to the city and more and more projects being developed with a rising demand.