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Thursday, April 05, 2018

Peninsula Land forays into Affordable Housing

Peninsula Land forays into Affordable Housing

·         Launches ‘affordable luxury’ project - addressOne, a project spread across 50 acres of land in Gahunje, Pune
·         Offering 5 typologies of apartments (1BHK to 3 BHK) attractive priced starting from INR 18 lakh (inclusive of stamp duty, registration and other taxes)

·         Peninsula Land has tied up with ANAROCK Property Consultants as their strategic partner for the project

Bangalore April 5th , 2018: 
Peninsula Land Limited, a leading corporate real estate developer which is part of the Ashok Piramal Group, today announced its foray into the affordable housing segment with the launch of its new project `addressOne` located at Gahunje, Pune. Spread across 50 acres, addressOne is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium.

The project aims at providing ‘Luxury for All’ to its prospective home buyers by providing homes that are both luxurious as well as affordable. In its first phase, the company will be launching approximately 1000 units that will comprise of 51 four-storeyed buildings comprising of just four apartments per floor. This is Peninsula Land`s first affordable luxury project in Pune, after their completed and highly successful project Ashok Meadows in Hinjawadi. The project is designed by renowned architect Hafeez Contractor & is PMAY (Pradhan Mantri Awas Yojana) approved.

Peninsula Land Ltd. has tied up ANAROCK Property Consultants as their strategic partner. Its strategic location just off the Mumbai Pune Expressway connects the project to Hinjawadi, which is less than 10 km away.

Mr. Rajeev Piramal, Vice Chairman & Managing Director, Peninsula Land Ltd. said, “Personally, I am very excited about the launch of addressOne as we’ve been keen to apply our deep knowledge and experience in the luxury housing space to the affordable segment. Affordable housing is clearly the most vibrant opportunity for the Indian real estate sector today, with ever-increasing demand emanating from this segment. The Government has unleashed several initiatives to give a fillip to affordable housing. We at Peninsula Land are firm believers in the ‘Housing for All’ mission, and have identified the scope for expanding this to ‘Luxury for All’ as well. With addressOne, we will provide genuine luxury homes at affordable rates to our customers.”

Commenting on the partnership, Mr. Anuj Puri, Chairman, ANAROCK Property Consultants Pvt. Ltd. said, “We are pleased to partner with Peninsula Land, a group known for their luxury landmark projects. We are particularly enthusiastic about this project, which gives affordable housing a compelling twist of added luxury elements. Even our initial strategic research reveals tremendous buyer interest for the unique concept of affordably-priced ‘Luxury for All’. Thanks to the rapid infrastructure development in this region of Pune, Gahunje has good potential for price appreciation over the next few years. Moreover, the inherent demand for this offering comes not just from Pune but also Mumbai and other parts of Maharashtra.”

Pune’s real estate market has benefited not only from its proximity to Mumbai but also its own dynamic market drivers in the IT/ITeS, manufacturing and services industries. However, the tremendous construction activity and price growth in rapidly saturating regions of the city has pushed spillover residential demand to more affordable areas like Gahunje, which are simultaneously seeing rapid infrastructure upgrades. Real estate is a price-sensitive business, and the demand for affordable housing is now at an all-time high.

About Peninsula Land Limited:

Peninsula Land Limited is known for creating international landmarks that redefine India’s skyline. As part of the Ashok Piramal Group, the company is committed to creating international landmarks. They are amongst the first real estate companies to be listed on the stock exchange. This fact is the biggest indicator of their adherence to good corporate governance along with fair and transparent business practices.

Today, Peninsula Land is an integrated real estate company. Our projects include pioneering retail ventures, world-class commercial projects and residential complexes. They have delivered more than 7 million sq. ft. of real estate with over 10 million sq. ft. under construction & in the pipeline in Mumbai, Bengaluru, Pune, Goa, Nashik and Lonavala. Some of the landmarks that Peninsula has given Mumbai include the Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Crossroads, CR2, Ashok Towers and Ashok Gardens.

About ANAROCK Property Consultants Pvt. Ltd.:

The ANAROCK Group is one of India’s leading real estate services company having diversified interest across real estate value chain. With a professional career spanning 27 years, the Group’s Chairman - Anuj Puri - is India’s most prominent thought leader in the real estate industry. He is regarded as one of the most respected and acknowledged experts on India’s real estate opportunities both in India and across the globe.

ANAROCK Group’s key strategic business units comprise of Residential business: broking & advisory services to clients; Investment business: debt, equity and mezzanine funding and Research & Consulting business. ANAROCK Residential business team comprise of industry’s finest residential real estate professionals who understand the ever-changing consumer needs and market trends. ANAROCK’s Investment arm has built a revolutionary business model of bulk-purchasing residential apartment inventory through a proprietary investment fund. With a growing team of 1500 professionals, ANAROCK operates in all key property markets across India - Mumbai, Chennai, Bangalore, Gurgaon, Noida, Hyderabad, Kolkata, Pune and international presence in Dubai. ANAROCK is committed to consistently deliver optimal value to our clients from the base of our core promise - Values over Value.

For more information, contact
Karishma Rane – ADFACTORS PR                                 Taizun Motiwala- ADFACTORS PR
88792 00069                                                                  8879873092                          

Sashi Kumar
M: +91 9742572406 
Tel – 080-41133059 / 41133062 /41245329 : EXT : 164

Peninsula Land forays into Affordable Housing Reviewed by Investment Guru on April 05, 2018 Rating: 5 Peninsula Land forays into Affordable Housing ·          Launches ‘affordable luxury’ project - addressOne, a project spread across 50 ...

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