Peninsula Land launches addressOne Central Park, Gahunje, Pune

Pune, 12th February 2019: Peninsula Land Limited, a leading corporate real estate developer, part of the Ashok Piramal Group, today announced the launch of addressOne Central Park to develop 600 plus apartments in Gahunje, Pune. Spread across 5.26 acres of land, addressOne Central Park is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium.

AddressOne is Peninsula Land`s first affordable luxury project in Pune. The project is designed by renowned architect Hafeez Contractor. Last year in its first phase, the company launched approximately 900 units. It was one of the most successful launches for the company. 

Mr. Rajeev Piramal, Vice Chairman & Managing Director, Peninsula Land Ltd. said, “We are very excited about the launch of addressOne Central Park after receiving an overwhelming response for our phase one launch. We plan to invest a further ?160 crores in developing 600 apartments in the second phase. At Peninsula Land, we believe in providing homes that are affordable and yet offer luxurious amenities to our customers. Our project AddressOne is a perfect testimony of this philosophy.”

He further added, “With growing urbanization, India has a huge demand for affordable homes and to give the necessary fillip to this sector, the government too has provided several initiatives for the affordable housing sector. In the interim budget, to push ‘Housing for All’ initiative, the government has announced a set of tax reforms for the real estate sector. This will certainly boost the demand for the affordable housing sector.”

AddressOne Central Park is situated in the midst of lush greenery.  It offers amenities like a clubhouse with a community hall, gymnasium, swimming pool, cricket nets, cycling track, football field, etc. to name a few. Its strategic location just off the Mumbai Pune Expressway connects the project to Hinjewadi, which is less than 10 km away.

The company has launched several financial offers & schemes which aim to provide easy financial assistance to customers. It has tied up with Home Capital that will help home buyers in providing interest-free loan on stamp duty & registration. With this, the customer will have to pay interest-free EMI for 18 months which gets deducted in equal installments thus ensuring no additional burden on the customer. Furthermore, the project is PMAY approved which will grant the home buyer an interest subsidy up to ?2.67L, therefore helping the home buyer with financial assistance along with bigger and better quality homes and will enable more customers to qualify for the subsidy.

The Pune market overall holds great promise given its proximity to Mumbai and the thriving IT & ITES industry in Pune. There is a great potential in this market overall, but locations like Gahunje are likely to spur the residential demand. Gahunje is emerging as a residential location on the Mumbai –Pune expressway that offers easy connectivity to Pune, Mumbai and Navi Mumbai. This has led to industrial development in the area. The nearest railway station from this popular region is the Akurdi railway station.

Gahunje also has an excellent social infrastructure like MCA cricket stadium, Symbiosis University, renowned D.Y. Patil College, Aditya Birla hospital that enhances the importance of this area. It is well connected to arterial roads like MIDC that offers excellent connectivity to other locations. Hinjewadi IT Park, Talwade IT Park are also close to the location.

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