An evolving gated community, rise in professionalism among developers, redressal of consumer grievances, delivery of quality projects; these are some of the trendsetting developments that now define the Pune realty market. Pune is, in fact, regarded as one of the top tier II cities that are registering a robust volume growth and challenging margin scenario.
In the last decade or so, the quality of work offered by various developers has improved. "Over the years, a home buyer's expectations have changed and accordingly the modern day home designs, too, have changed," says Manish Kaneria, Director, Mont Vert Luxury Homes. "Today's residential complexes are much better planned and better constructed using new materials and technologies. Amenities like club house and swimming pool which were once considered luxury are now common in any good residential complex."
Echoing similar views, Atul Goel, MD, Goel Ganga Group, says: "Today, Pune offers some of the best options for gated community living, which is evolving. This is one of the few cities that can boast of its own airport coupled with commercial and residential growth." He further points out that Pune is one city which has witnessed the highest migration in the past 10-15 years. Pune Residential Property
Additionally, there is a marked improvement in terms of amenities being extended to buyers over the years. Rohit Gera, Joint Managing Director, Gera Developments, says: "If you look at the amenities and specifications that a developer is offering today, there are tremendous improvements. Earlier, a playground with one slide and some gravel would qualify as a garden. Nowadays, a garden has various equipment, including a swimming pool and a gym. There is clearly improvement in terms of whole customer experience."
Moreover, most developers have started treating it as a service industry and adhere to norms as per the contract deal. For example, developers now consider the carpet area while calculating the price. "With an increase in the size of developers, professionalism has also received a boost. There is tremendous competition among developers, which is always good from the consumer point of view. From doing things on an individual basis to functioning as a group in a professional manner, developers are now adhering to it," Gera says. Pune, in fact, is way ahead than other cities when it comes to its developers contributing to the policy-making of the government, points out Goel. "It has one of the strongest associations with developers being self-regulated when it comes to applying the code of conduct whether you refer to the issue of carpet area or consumer redressal forum," he says. Moreover, builders in Pune are now talking about accountability and transparency with many of them keen to hiring the services of a third party auditor such as Crisil. "The issue about consumer protection has been addressed through the grievance redressal forum; law has become more stringent, which is substantially customer-centric now," Gera says.
There has been substantial increase in demand, so developers are doing a larger project which includes newer townships that are developing in a big way. "Pune has a healthy demand and builders are quite happy with that," says Ranjit Naiknaware, Director, and Naiknaware Developers. "Now we are talking of e-housing, eco-housing, mini golf courses, a holistic environment with maintenance services thrown in. Overall, the end customer is getting a value-added product whether it's related to services in terms of water or energy conservation and utilization in Pune. The quality of construction of buildings and the concept of living together has certainly received a boost now.
In the last decade or so, the quality of work offered by various developers has improved. "Over the years, a home buyer's expectations have changed and accordingly the modern day home designs, too, have changed," says Manish Kaneria, Director, Mont Vert Luxury Homes. "Today's residential complexes are much better planned and better constructed using new materials and technologies. Amenities like club house and swimming pool which were once considered luxury are now common in any good residential complex."
Echoing similar views, Atul Goel, MD, Goel Ganga Group, says: "Today, Pune offers some of the best options for gated community living, which is evolving. This is one of the few cities that can boast of its own airport coupled with commercial and residential growth." He further points out that Pune is one city which has witnessed the highest migration in the past 10-15 years. Pune Residential Property
Additionally, there is a marked improvement in terms of amenities being extended to buyers over the years. Rohit Gera, Joint Managing Director, Gera Developments, says: "If you look at the amenities and specifications that a developer is offering today, there are tremendous improvements. Earlier, a playground with one slide and some gravel would qualify as a garden. Nowadays, a garden has various equipment, including a swimming pool and a gym. There is clearly improvement in terms of whole customer experience."
Moreover, most developers have started treating it as a service industry and adhere to norms as per the contract deal. For example, developers now consider the carpet area while calculating the price. "With an increase in the size of developers, professionalism has also received a boost. There is tremendous competition among developers, which is always good from the consumer point of view. From doing things on an individual basis to functioning as a group in a professional manner, developers are now adhering to it," Gera says. Pune, in fact, is way ahead than other cities when it comes to its developers contributing to the policy-making of the government, points out Goel. "It has one of the strongest associations with developers being self-regulated when it comes to applying the code of conduct whether you refer to the issue of carpet area or consumer redressal forum," he says. Moreover, builders in Pune are now talking about accountability and transparency with many of them keen to hiring the services of a third party auditor such as Crisil. "The issue about consumer protection has been addressed through the grievance redressal forum; law has become more stringent, which is substantially customer-centric now," Gera says.
There has been substantial increase in demand, so developers are doing a larger project which includes newer townships that are developing in a big way. "Pune has a healthy demand and builders are quite happy with that," says Ranjit Naiknaware, Director, and Naiknaware Developers. "Now we are talking of e-housing, eco-housing, mini golf courses, a holistic environment with maintenance services thrown in. Overall, the end customer is getting a value-added product whether it's related to services in terms of water or energy conservation and utilization in Pune. The quality of construction of buildings and the concept of living together has certainly received a boost now.
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