The Hindu Business Line : Park Street taking shape in Pune

TO cater to the burgeoning population in the city, Park Street - the Pune Next, a Rs 500-crore project by the Pune-based Pride Purple is taking shape in Wakad, near the Mumbai-Pune Highway.

Pride Purple is a joint venture by Pride Housing and Purple Properties, in association with Pratham Builders and Developers Pvt Ltd.

Mr Rajeev Bhale, Managing Director of Pratham Group, told Business Line that the intention is not to build another housing complex, but a self-sufficient township.

The project is spread over 65 acres (three million sq ft) and is expected to be completed in four years. It will house apartments, row houses, an IT park, a five star restaurant, a CBSE-affiliated school, international convention centre and a shopping mall with multiplex.

Mr Bhale said about one million sq ft has been earmarked for the IT park and talks are on with a couple of IT customers for setting up their centres. The total area that will be required by these two clients will be about three lakh sq ft, and a third IT company has also evinced interest in setting up shop, he said.

Mr Bhale said the first phase, which will have 69 row houses, 120 bungalows and three building apartments, would be ready in 18 months.

The project began at the end of October. The price will be between Rs 20 lakh and Rs 70 lakh depending on the requirements. The apartments are being designed by Mr Kirit Vora, an architect who has returned to India, bringing with him the expertise in building apartments the Californian style.

Mr Bhale said the construction would be carried out in three phases. The project was kick-started in Wakad as it was in the middle of the `knowledge triangle' surrounded by the IT park of Hinjewadi, the manufacturing hub Pimpri Chinchwad and the rest of Pune. He said additional land surrounding the area is already being acquired for expansion.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page