The first of Pune's skyscrapers has started making a mark on the city's skyline. Among the earliest to enter the 100-metre tower arena was Swapnali Bhosale Constructions (SBC), of the ABIL Group specialising in premium properties, some three years ago. Last week, the company announced the completion of the first of these sky scrapers in Koregaon Park.
It has been over three years since the Maharashtra Government green-signalled the construction of 100m tall buildings in Pune.
However, today, though real estate development is taking place at a brisk pace in the city, there are still less than a handful of developers in this space.
Another player in the space is Kumar Builders. 45, Nirvana Hills, its project in Kothrud area comprises four towers, each 30 floors high, totalling 452 apartments which will be ready in three years' time.
Panchshil in association with Yoo is the third player , and recently opened bookings for a high-end residential complex at Hadapsar.
Mr Lalit Kumar Jain, Chairman of Kumar Builders and All India President, Credai, says that constructing these tall buildings requires the same technology as other high rises. Mr Ravi Varma, head of realty firm Realtors, opines that projects over 7-floor in height require more permissions, and this may be one of the deterrents, in addition to the fact that the construction cost is also higher.
‘God's Blessings'
So as of now, SBC's project christened ‘God's Blessings', is the tallest residential tower of Pune with a single luxury apartment of 7,500 sq ft, on each of its 24 floors. Every apartment has a private plunge pool, landscaped terraces, French windows, floor-to-floor height of 3.8m, customised video security and VRF air conditioning.
But the home itself is handed over to the owner as a ‘cold shell' to be outfitted as per individual requirements.
“Some may prefer to make four bedrooms, others can make it a five-bedroom unit,” Mr Abishek Kumar, Vice-President, ABIL, explains the merits of the cold shell, which is the preferred format for the really well-heeled. Apart from the usual access to common amenities such as the swimming pool, private party lawns, gyms, spa, yoga room, salon and billiards, residents at ‘God's Blessings' have been given membership of the adjoining ABIL property, the Westin hotel which gives them access to its gymnasium, spa and other facilities.
At the moment, this facility has been extended to them for a 5-year period.
Other value-added services include a concierge, 24-hour help desk apart from regular maintenance of common areas.
When construction began some three years or so ago, the price was Rs 8,000 per sq ft. The last flat that was taken some six months ago went at over Rs 13,000 per sq ft. On this basis, the cost of a single apartment ranges between Rs 6 crore and Rs 11 crore.
3 more on cards
In Pune, SBC is shortly scheduled to announce one more project, still unnamed, of three 100m towers at Kalyaninagar totalling around 80 super luxury apartments.
Apart from owning a house in an iconic building, those who opt for the higher floors say that an unhindered view, the prospect of cleaner air and the cool breeze are amongst the major attractions of sky scrapers.
From the developer's point, the verticality allows him to offer larger floor plates, while leaving lot of open, uncluttered space on the ground level. This enables landscaping to add to the external features of the property.