Seventh Generation Media House Congrats ISRO on its success of MARS MISSION

Its exciting to witness history on 24th September 2014, when India woke up to the news that makes every Indian Proud. Indian Space Research Organization has successfully placed the satellite into MARS orbit marking historical success credit to India of having achieved this feet in its very first attempt.

indian_mars_missio_1605706g

Great efforts of our scientists with metal nerves, not easy when on a national critical missions like these. Nice to see our Prime Minister walk into ISRO and address the success moment, which conveys the Indian Government is committed to more of such prestigious missions.

24679937

Seventh Generation Media House wishes ISRO team on its lifetime success and on behalf of every Indian would like to thank ISRO for your wonderful efforts and make us a part to witness history.

Empowering Rural Education – ‘YELO’ an Innovative Solar Powered School Bag That Converts Into a Desk

– Students in Third World Countries Lack Access to Basic Educational Infrastructure, as Basic as School Bag, a Desk, a Light Source to Study at Night

– YELO a Revolutionary School Bag That Transforms Into a Desk Helps Students to Meet Their Basic Education Needs

Prayas Innovation, an international social enterprise, is launching ‘YELO’, a revolutionary bag that converts into a school desk. This bag would empower students studying in the rural areas of third world countries to study more efficiently.pack fullywith solar
With millions of students out of school world-wide, India ranks highest amongst countries with students not attending school. Students in rural areas lack access to basic educational infrastructure. Sitting on the floor in incorrect posture for long working hours results in back pain, bad eyesight and inability to concentrate and study.

YELO, an intelligently designed school bag, helps children carry their books, belongings, irrespective of the weather conditions. The same bag with a single fold technique smartly transforms into a school desk. The desk offers an angle of 30-35 degrees for students to write and read, thus ensuring they maintain an ergonomic posture while studying.

One in three people across the globe lack access to reliable electricity. Remote areas face heavy power cuts, thereby making it difficult for children to study at night. YELO comes with an LED light source, to deliver light for more than 6-8 hours, thus empowering students and rural households to carry out their evening chores.

YELO comes with a handy solar kit that powers the LED light. The rechargeable battery in solar kit can be charged through solar energy as well as supports AC charging. YELO is an outcome of several months of research, user trails. YELO made up of corrugated sheet is durable and has strength to carry belongings worth more than 5 kg.

“We look forward to collaborate with corporates, NGO’s and other social organizations who share similar vision for working towards this cause,” says Manish Mathur, Managing Director of Prayas Innovation.

About Prayas Innovation:

Prayas Innovation is an international social enterprise that addresses the challenges faced by society in areas of energy, education and health. The company aims to improve the quality of life of people in third world countries thus forming a healthier, safer and more civilized society. With a vision to deliver and implement need based, low cost innovative products, every day Prayas attempts to improve the quality of life through intelligent design.

The multidisciplinary team of designers, engineers and people with expertise in diverse walks of life is led by advisors and mentors who have worked with companies like Phillips and professors from renowned universities. For more information visit www.prayasinnovation.com

Media Contact:

Alok Kumar, alokk@prayasinnovation.com, info@prayasinnovation.com, +91-965758-7050, Chief Operating Officer, Prayas Innovation Private Limited

Japan – India Cooperation in Healthcare: Rockland Takes the Initiative

“India & Japan have a big opportunity of working together in the area of healthcare. Japan has achieved its goal of longevity and healthy life for all its citizens. This knowledge and technology will benefit India as well as the rest of the world. Shri Narendra Modi, Hon’ble Prime Minister of India, has already extended an open invitation to COME MAKE IN INDIA. India will give Japan a huge consuming population, excellent human resources and a low cost base for manufacturing and exporting healthcare solutions to the world”, said Rajesh Srivastava, Chairman, Rockland Hospitals. He was speaking on the topic: Creating Healthcare Access for Cancer Treatment: Sharing Japanese Solutions, during a two days seminar titled FICCI- Heal-2014 on 1 & 2 Sept in Delhi.

RAJ_8867
Yasunori Tokiyoshi, Director, Japan Research Institute (JRI), while introducing Rajesh Srivastava said “he has been leading to create a quality standard that suits Indian conditions. Rockland was judged among the 5 best hospitals in India by a government sponsored study by the India Today Magazine among the doctors. Also, he has successfully promoted multinational collaboration in recent years; several MOU’s have been signed with global leading healthcare players who are interested in the Rockland Model of setting cancer centres at Manesar and other sites.”

India is already the second most preferred destination for medical travellers to Asia. It’s capabilities in healthcare and information technologies are globally acknowledged. Indian doctors are respected around the world and the Indian nurses are in demand world-wide for their capabilities. India’s huge resources in healthcare as well as a young work force will provide Japan with excellent human resources in providing healthcare solutions to India and the rest of the world.

The panellists agreed that there is a need to identify and fill in the gaps by strengthening what is already available in terms of resources in India and then build further on it. The challenge is in providing solutions that will suit the Indian conditions and this is precisely what the Rockland Healthcare Delivery Mechanism provides. The focus is on leveraging the current available resources by supporting the doctors in the clinics & smaller facilities by forming partnerships with leading equipment manufacturers and by leveraging Rockland’s 10 years of R & D based knowledge of managing technology, costs and quality.

The Rockland model ensures that the patient gets the right information on where to go for diagnosis and then referred for treatment to the primary, secondary or tertiary care facility based on evidence based referral system. The network is being leveraged to educate the public on preventive care, insurance plans, government schemes and cost of treatment.

Rockland’s relationship with Japan goes back to 2012 when it started an interaction with Hitachi by signing an MOU for Japanese Style Health Check-up Protocols & Brain Scan for Cancer in Manesar. In 2013, a 30 strong Japanese delegation visited Rockland Manesar Hospital to explore collaboration possibilities with Rockland. The delegation included Dr. Shuzo Yamamoto, honorary chairman of Japan Hospital Association and top management representatives from well-known medical equipment companies like the Hitachi Ltd, Konica Minolta, Shimadzu Corporation, Sumitomo Heavy Industries Ltd, Toshiba Medical Systems Corporation, Tanita, Olympus Medical Systems Corporation and METI.

This was followed by an invitation to the Rockland team for visiting Japan to interact with the leading healthcare providers and cancer centres in Japan. In the last two years there have been several visits by the leadership teams from Japanese Foundation for Cancer Research (JFCR), Japan Research Institute (JRI) & Hitachi for conducting feasibility studies in India. Rockland facilitated the ground level interaction with several clinical leaders which included AIIMS faculty members also. The findings have encouraged Hitachi to set up a Cancer Centre at Manesar and a Cancer Centre with training facility at Noida under a joint venture with equity participation.

Naotoshi Nishida, VP, Hitachi India said that “this (collaboration with Rockland) is unique for Hitachi. We find that simple equipment supply has lots of drawbacks… Always the purchaser will hit the head and reduce the price but if we can stand together with the hospital maybe we can have a small share in the benefits. And also more important part standing in the frontline facing the doctors and the patients we come to know of the required specifications.”

Speaking about collaborations outside of Japan Mr. Takahiro Ota Executive Director, Japanese Foundation for Cancer Research (JFCR) said, “Our foreign relationships are with a University in Beijing and Massachusetts General Hospital and of course we include Rockland Hospitals in India”.

PCMC’s Golden Location Matrix Widens Into Punawale

Anil Pharande, Chairman – Pharande Spaces

Anil Pharande, Chairman – Pharande Spaces

While real estate is a constantly changing and evolving concept, some parameters remain constant – the three success mantras are still Location, Location and Location. In this respect, the Pimpri-Chinchwad Municipal Corporation (or PCMC) is an important chapter in the annals of Pune real estate’s success story.

Pimpri-Chinchwad, an Urban Agglomeration (UA) of Pune, is situated only 1.5 hours from Navi Mumbai. It is by far the richest Municipal Corporation – not only in India, but in Asia, largely thanks to its thriving industrial belt of mid-sized and large national and multinational companies.

Thanks to massive demand for residential and commercial properties, PCMC has delivered some of Pune’s hottest real estate locations over the past decade. Punawale, situated in PCMC along the rapidly developing Western corridor of Pune, is the latest addition to the region’s lineup of strategic real estate development and investment hotspots.

Located advantageously close to Hinjewadi and its burgeoning IT Park and the Pune-Mumbai Expressway, Punawale has now emerged as the location of choice for home buyers from the Information Technology as well as manufacturing segments.

Punawale is also in close proximity to Wakad and benefits from convenient access to various hospitals, schools and shopping malls.

This combination of factors has had a big impact on demand for properties in Punawale, and has led to the launch of many new residential projects. Puneville, a luxury township recently launched by PCMC’s leading developers Pharande Spaces, is one of the most notable examples of Punawale’s massive image makeover on the Pune real estate map.

Like Moshi, Ravet, Spine Road and many other highly successful real estate locations in the PCMC, Punawale has the added advantage of being located at the fulcrum of various mega road development projects by this region’s infrastructure-focused town planning authorities. Backed by the unlimited cash reserves at the disposal of Asia’s wealthiest Municipal Corporation, these projects are being implemented at a rapid rate and have been instrumental in the highly positive credit ratings accorded to the PCMC by various reputed agencies.

Additionally, the high-tech PCMC Water Treatment Plant was recently awarded the coveted ISO – 9001- 2000 rating in the Water Treatment Quality category, further enhancing the region’s viability as a location and residential destination par excellence.

Backed by a diverse and vibrant economy which provides a convincing complement to that of Pune, PCMC boasts of a prolific manufacturing sector represented by a number of national and global industry giants.

The steady and growing pipeline of employment opportunities generated by PCMC’s manufacturing and Information Technology industries has ensured that areas like Punawale see instant absorption of housing projects across budget brackets. It goes without saying that an employment-driven real estate location like Punawale also receives significant attention from property investors.

In Punawale, the Pimpri-Chinchwad Municipal Corporation has created yet another iconic location to take this prosperous, infrastructure-driven region’s globally acknowledged reputation for planned urbanization and real estate development to the next level.

About The Author:

Anil Pharande Chairman of Pharande Spaces, the pre-eminent construction and development firm in the thriving, pro-infrastructure Pimpri-Chinchwad Municipal Corporation (PCMC) region of Pune. Pharande Spaces has a number of integrated township projects in PCMC areas such as Moshi, Ravet, Punawale and Spine Road to its credit.

Smart Cities – A Futuristic Vision Of Urbanization In India

Anuj Puri, Chairman & Country Head, JLL India

Anuj Puri, Chairman & Country Head, JLL India

Across the world, the stride of migration from rural urban areas is increasing. By 2050, about 70% of the population will be living in cities, and India is no exception. India will need about 500 new cities to accommodate the rapid influx of population into its urban regions.

Interestingly, urbanization in India has for the longest time been viewed as a by-product of failed regional planning. Though this is inevitable, and will only change when the benefits of urbanization overtake the costs involved, it is an opportunity for achieving faster growth.

With increasing urbanization and the load on the land in rural areas, the Indian government has now realized the need for cities that can cope with the inherent challenges of urban living and also be magnets for investment to catalyse the local economies. The announcement of ‘100 smart cities’ falls in line with this vision.

A ‘smart city’ is an urban region that is highly advanced in terms of overall infrastructure, sustainable real estate, communications and market viability. It is a city with information technology as its principal infrastructure and the very basis for providing essential services to its residents. There are many technological platforms involved, including but not limited to automated sensor networks and data centres. Though this may sound futuristic, it is now likely to become a reality as the ‘smart cities’ movement unfolds in India.

A smart city offers a superior way of life to its denizens, and one wherein economic development and activity is sustainable and rationally incremental by virtue of being based on success-oriented market drivers such as supply and demand. They literally benefit everybody, including denizens, businesses, the government and moreover the environment.

Origins Of The ‘Smart City’ Concept

The concept of smart cities originated at the time when the entire world was facing one of the worst economic crises. In 2008, IBM began work on a ‘smarter cities’ concept as part of its Smarter Planet initiative. By the beginning of 2009, the concept had captivated the imagination of various nations across the globe.

Countries like South Korea, the United Arab Emirates and China began to invest heavily into research and the formation of smart cities. Today, there are a number of excellent precedents that India can emulate for its own smart cities programme:

  • Smart City Vienna in Austria
  • Aarhus Smart City in Denmark
  • Amsterdam Smart City
  • Cairo Smart Village in Egypt
  • Dubai Smart City and Dubai Internet City in the UAE
  • Smart City Lyon in France
  • Smart City Málaga in Spain
  • Malta Smart City
  • The Songdo International Business District near Seoul, South Korea
  • Yokohama Smart City in Japan
  • Verona Smart City in Italy
  • Smart Cities In India

    In India, the cities that have ongoing or proposed smart cities include Kochi in Kerala, Ahmedabad in Gujarat, Aurangabad in Maharashtra, Manesar in Delhi NCR, Khushkera in Rajasthan, Krishnapatnam in Andhra Pradesh, Ponneri in Tamil Nadu and Tumkur in Karnataka. Many of these cities will include special investment regions or special economic zones with modified regulations and tax structures aimed at making is easier and more attractive for foreign companies to invest in them.

    This is an essential factor for success for smart cities in India, because much of the funding for these projects will have to come from private developers and from abroad.

    Challenges

    The smart city concept is not without challenges, especially in a country like India. For instance, the success of such a city depends on its residents, entrepreneurs and visitors to the city becoming actively involved in energy saving and implementation of new technologies. There are many ways to make residential, commercial and public spaces sustainable by ways of technology, but a high percentage of the total energy use is still in the hands of end users and their behaviour. Also, there is the time factor – such cities can potentially take anything between 20-30 years to build.

    Nepal’s Tourism & Hospitality Sector: A Bird’s Eye View

    Mandeep Lamba, Managing Director - Hotels & Hospitality, JLL India

    Mandeep Lamba, Managing Director – Hotels & Hospitality, JLL India

    Though Nepal is nestled between India and China, it shares few of the drivers that propel two of the most thriving and talked-about economies of the world. Its economic USP is the tourism and hospitality business, of which it has historically managed to garner a not-inconsiderable share – and not without good reason. Home to eight of ten highest peaks in the world, this Himalayan nation has always been a regular paradise for spiritual seekers and adventure seekers from across the world.

    Despite decades of political instability and civil wars, the birth place of Lord Buddha and home to numerous sacred Hindu sites has managed to hold its own as a tourist destination. The hospitality industry in Nepal has by no means been optimally capitalized upon, and there is still considerable potential for tourism development basis its unique natural and cultural heritage.

    Even apart from the spiritual connection, the Himalayas are a perpetual favourite among foreign tourist and adventure enthusiasts, and Nepal is a highly preferred destination for high-adrenaline activities such as mountaineering, rafting, canoeing and hang gliding.

    Since tourism is its primary economic driver, Nepal’s tourism policy has been framed in a manner that seeks to maximize national productivity, create more employment opportunities, boost foreign currency inflows and generally project the country as a more dynamic player in the international arena. Needless to say, this is a lot to expect just the travel and tourism industries to deliver on.

    Nevertheless, it cannot be denied that Nepal’s tourism industry is its largest source of foreign exchange and revenue. In other words, a lot depends on annual tourist arrivals and hotel room occupancy. In this respect, Nepal has witnessed a fairly healthy trend over the past few years.

    Tourist arrivals to Nepal have seen a Compound Annual Growth Rate (CAGR) of 10% during the period from 2003 through 2012, to reach 803,092 by the end of 2012. India, China, Sri Lanka, USA and the UK are the top five feeder markets for Nepal in terms of international tourist arrivals. However, with the bilateral transit treaty between India and Nepal, India remained the largest tourism generator, with 165,815 arrivals in 2012 accounting for 21% of the total arrivals.

    Happily for Nepal, the fact that a number of world-class hotel brands are entering the country over the next few years will also catalyse employment generation, particularly for trained hospitality professionals.

    Sharp Focus On Kathmandu

    Kathmandu, apart from being Nepal’s largest city, is also the national capital and the political and cultural hub of the country. As a matter of fact, it was the opening of the airline network between Kathmandu and other parts of Nepal and the as the rest of the world that became a game-changer for the country’s tourism and hospitality industry.

    Tourist arrivals in Kathmandu have maintained an upsurge since mid-2009, and the city’s tourism and hospitality sector has witnessed significant investments. Domestic as well as foreign investors have been displaying a lot of confidence on the heels of the growing tourist influx into Kathmandu and increasing demand for quality hotel rooms. The hospitality segment is expected to grow significantly over the next couple of years.

    In the Kathmandu hospitality market, the Revenue per Available Room (RevPAR) has increased at a CAGR of 11% (from Rs. 3,661 to 5,048) during the period 2010-13. This can be attributed to strong growth in demand from the leisure travel segment, which has not flagged despite the uncertain political environment and limited increase in branded room supply over the last decade. Interestingly, Kathmandu’s market RevPAR growth rate is expected to see a decline going forward, due to an anticipated 44% increase in branded rooms supply by 2021.

    Challenges

    Despite the need to deliver on better economic benchmarks, Nepal continues to face numerous issues. Lack of adequate infrastructure, ongoing deficiencies in road connectivity and a less-than-favourable air safety record still hinder the growth of the tourism sector. Also, political uncertainty coupled with prolonged flash protests and strikes results in a large number of tourist cancellations.

    The Nepal government is taking measures to address these concerns, especially in terms of tightening the country’s aviation regulations to align with the recommendations from the International Civil Aviation Organization. Efforts to modernize its airports and establishing monitoring stations to improve visibility and communication are already in the pipeline.

    However, it seems doubtful that Nepal will be able to address its deficiency in road networks without the active involvement of neighbouring countries. The United Nations’ ambitious proposal to connect all Asian countries through a ‘Asian Highway Project’ had been floated in 1959. 32 countries, including Nepal, are signatories to this project. This can turn out to be a major game-changer for the Nepal tourism and hospitality industry.

    Apart from that, a lot depends on how quickly Nepal’s government manages to lend the country’s a ‘must visit’ image. Considering its excellent geographical attributes, it definitely has potential to become the Switzerland of the East in the future.

    NCR Real Estate – Ghaziabad In Growth Mode

    Rohan Sharma, Associate Director - Research & REIS, JLL India

    Rohan Sharma, Associate Director – Research & REIS, JLL India

    Ghaziabad caters primarily to the mid-segment and affordable housing segments. It is home to established housing clusters such as Kaushambi, Vaishali and Indirapuram while upcoming residential corridors include Raj Nagar Extension and developments along the NH-24 beyond Indirapuram, including the Crossings Republic township.

    While lack of land options has restricted new launches in the Kaushambi, Vaishali and Indirapuram clusters, they being already developed to a great extent and with a large existing residential population, these residential clusters have also recorded healthy capital appreciation. Recent project launches have been mostly in the upper-mid and premium segments offering luxury specifications and upgrades from the usual, mid-segment housing options.

    Prices in the Kaushambi and Vaishali areas are in the range of INR 5,500 – 6,500 per sq ft while in Indirapuram prices are in the INR 4,800-5,500 per sq ft price range. The affordable residential clusters are in the average price range of INR 2,200-3,500 per sq ft. The upper end of the range is commanded by projects which are completed or close to completion in Crossings Republic, while the newer projects in NH-24 are in the lower price band of INR 2,200-2,600 per sq ft. The Raj Nagar Extension corridor on NH-58 is also priced in the INR 2,600-3,000 per sq ft range.

    All these clusters have contributed the maximum to new project launches that have been recorded in the Ghaziabad residential market over the past few quarters. While Raj Nagar Extension may be seeing project launches by first-time or lesser known developers, the likes of Assotech, Ansal API, SARE, Ashiyana Group and Wave Group have come up with projects on NH-24, which includes Crossings Republic as well.

    With prices in the Noida Extension precinct in the Noida sub-market expected to be higher, Ghaziabad will continue to garner interest, particularly for affordable projects in Crossings Republic, Raj Nagar Extension and on the NH-24.

    The Ghaziabad sub-market also enjoys a large population base from the industrial sector and SMEs, and low-income workers looking to upgrade to better accommodation. In the near future, the better areas within Ghaziabad, such as Indirapuram and Vaishali, should continue to hold their ground while the lower-income profile areas of Sahibabad, Raj Nagar Extension and further developments coming up on NH-24 and GT Road will account for majority of sales volumes.

    Going forward, infrastructural developments such as the extension of the Metro route to Ghaziabad and widening of the NH-24 to six lanes is likely to aid in furthering residential developments in this area. The core demand is likely to emanate from the low and middle-income population for the residential offerings in this corridor.

    Tracking Ahmedabad Real Estate In PM Modi’s Era

    Vivek Sahasrabudhe, Analyst - Research & Real Estate Intelligence Service, JLL India

    Vivek Sahasrabudhe, Analyst – Research & Real Estate Intelligence Service, JLL India

    Over the past couple of months, no other Indian state has been talked about as much in the Indian media as Gujarat. Be it about Mr. Narendra Modi, former chief minister of Gujarat who is now Prime Minister of the nation or the growth model of the state.

    This fast developing province has seen the decade-long efforts start to bear fruit in the area of infrastructure development especially in Ahmedabad, the commercial capital of the state. In recent times, the city has become the symbol of the state’s progress story.

    The uninterrupted electricity and water supply, the wider roads and the rapid bus transit system have helped Ahmedabad to cement its position as a manufacturing hub. In the past, despite the city being known for its industries, particularly its textile and pharmaceutical enterprises, it did not create a sector-specific demand for real estate, unlike the IT/ITeS sector did for Bangalore and Pune. Up until recently, the city produced mostly blue-collar jobs and those employed preferred affordable housing, particularly in the unorganised real estate sector.

    To attract the participation of the organised real estate sector, affordable and well-connected real estate developments were on the checklist of the Ahmedabad Urban Development Authority. The planning resulted in well-rounded growth as Ahmedabad, unlike other cities, did not have any geographical constraints on expansion. Also, the committee refrained from giving any specific city node an undue advantage, due to which capital value appreciation was held in check for many years!

    Nonetheless, in recent quarters, noteworthy growth was registered in residential real estate prices. Residex, the index published by the National Housing Bank covering price movements in urban and semi-urban areas, showed that Ahmedabad residential real estate prices have grown faster than other major Indian cities over the past four quarters.

    Picture (Device Independent Bitmap) 2
    It is true that current market sentiment has turned positive following the country’s recent general election but physical indicators have played a vital role too. The employment opportunities generated by the industrial/manufacturing segment have contributed most to the evolvement of real estate activity in recent times.

    With improved infrastructural facilities, many new manufacturers of automobiles, engineering and instruments have established themselves in the city and existing industries have been expanding their plants, especially on the outskirts of Ahmedabad in Sanand and Changodar. To support the manufacturing hubs, logistics activity has also been growing fast.

    Newly generated employment has looked at organised real estate to fulfil its housing needs as prominent developers have been offering small ticket size affordable dwellings in the outskirts of the city.

    Another growth driver relates to the fact that Gujarat is part of the Delhi Mumbai Industrial Corridor (DMIC), which is an ambitious project aimed at developing industrial zones. Ahmedabad is anticipated to be an important link in this corridor. The city is expected to create more jobs, attract investment and ultimately generate greater housing needs. There will be no surprise if other cities in Gujarat follow Ahmedabad’s example in the coming years.

    Obsolete Homes: The Decreasing Attractiveness Of Resale Flats

    Kishor Pate, CMD - Amit Enterprises Housing Ltd.

    Kishor Pate, CMD – Amit Enterprises Housing Ltd.

    Historically, cities like Mumbai, Pune, Bangalore and Chennai have always enjoyed a strong resale residential market. This made sense – because of a lack of progress in terms innovation by developers for almost two decades, homes in old projects did not offer significant advantages over homes in older projects. Buyers were primarily focused on price and flat size, and the resale market tended to offer good deals on both counts.

    This scenario has now changed visibly, and a new trend of ‘home obsolescence’ has now become a firmly entrenched market dynamic. Fundamentally, the process that renders homes obsolete can be compared to that of electronics and home appliances. Because of rapid technological advancements and high competitiveness among suppliers of such goods, the newer range of products has very attractive added features that make older models redundant and undesirable.

    Obsoleting is also a very real fact in real estate, as well. Commercial spaces in ageing office complexes tend to evince less interest by occupiers because they lack the modern features of newer office projects. Likewise, residential projects which were developed as little as five years ago lack the attractive value-adds which are available in the latest projects. Construction technology, design trends at a project and individual unit level, internal fittings such as plumbing, sanitaryware and electrical appliances have all taken a quantum leap forward in terms of functionality, user-friendliness, visual appeal and cost effectiveness.

    In many cases, older projects often do not have adequate parking, common amenities and open spaces, as they were developed before the latest regulations concerning these were enforced. The combined effect of these has resulted in the rapidly reducing popularity of resale homes among home buyers. While it is true that some resale properties offer more central locations, it is equally true that these locations tend to be beset by massive infrastructure deadlocks today. Also, older projects will lose in investment value at a rate proportionate to the age of the project.

    In contrast, buyers who chose to opt for a brand new flat have several advantages. In the first place, they can opt to invest in an apartment at significant discounts while the project is still under construction. Secondly, they benefit from the fact that such projects have fresher designs, are fully compliant with latest development regulations and have features such as rainwater harvesting and reserved parking. The units themselves have the latest electrical fittings and have superior layouts. Meanwhile, the investment value of new flats remains on an upward trajectory for several years.

    While the resale market will doubtlessly continue to draw attention, more and more home buyers in cities like Mumbai and Pune will not settle for less than a brand-new flat with the latest features, fittings and other advantages.

    Why Talegaon Needs More Affordable Housing

    Sachin Agarwal, CMD - Maple Shelters

    Sachin Agarwal, CMD – Maple Shelters

    Though Talegaon has long since been identified as a very suitable destination for residential property investment in Pune, most of the talk about this serene and nature-rich location has been about row houses, larger premium flats and senior living projects. As a matter of fact, a sizeable share of the demand for flats in Talegaon actually comes from locals and people who have migrated there to seek employment in the many industries operating in Talegaon.

    Talegaon is situated 40 kilometres from Pune on the Mumbai-Bangalore highway, far enough from the main city to have escaped mass real estate development and thereby retain its exceptional natural attributes. Thanks to the fact that Talegaon is located at a higher elevation above sea level, it enjoys better climate than the central regions of Pune. Nevertheless, this is a key growth location by virtue of being located at the nexus point of Pune, Nashik and Mumbai.

    This factor has made Talegaon a focus area for many industries. They are attracted not only by the excellent location but the lower land rates and the fact that Mumbai is just 135 kilometres away via the Mumbai-Pune Expressway. Residential real estate in Talegaon is driven by employees from the industrial zones in Maval and Chakan as well as the IT/ITeS companies in Hinjewadi. Furthermore, Talegaon benefits from easy access to excellent educational institutes, which is always a point of favour for home seekers.

    The second homes and even premium flats business is doing very well in Talegaon because of its bracing environmental qualities and the IT-driven demand from Hinjewadi, which is just 20 kilometres away. However, the main need in this location is for affordable housing, and it is this requirement that low-cost housing initiatives like Aapla Ghar by Maple Shelters seek to fulfill.

    Employees of the many automobile and industrial manufacturing companies in and around Talegaon cannot afford the mid-level and high-bracket offerings that developers have been churning out. Yet, it is imperative for them to live close to their places of work, since Talegaon is relatively far from areas where most budget housing is coming up.

    Flats priced below Rs. 10 lakh, yet available with contemporary housing projects with all the conveniences of modern living, are the need of the hour at Talegaon. Vacation homes in Talegaon will always be desirable to buyers and investors from Pune and Mumbai. But it is the supply of affordably-priced flats that is a key factor for this region’s continued viability.

    It is the employees of its industrial and automobile firms who are the real pillars of its enviable economic progress. They are not here for Talegaon’s natural splendour – they have either been there from the beginning or have moved there to find employment. It is critical that their needs are addressed, as well.