A Jewel in the crown of Pune- Three Jewels by Kolte-Patil at Katraj-Kondawa, Pune
To validate the claim of this topic, peeling the layers of this investment structure will provide a solid argument why Three Jewels is worth your investment portfolio.
Let us analyse each aspect leading up to the project:
Investing In Pune
The Ministry of Housing and Urban Affairs (MoHUA) released an “Ease of Living Index” in 2018 that determined the “Livability” factor of around 111 cities in India, out of which Pune emerged at the top. This “quality of life” was assessed on four factors– safety, convenience, health, and beauty.
Pune ranks 6th among the other cities in India in terms of income per capita owing to a broad spectrum of industries incorporated in this city such as– IT/ITeS, Manufacturing, Banking, IT-BPM sectors, BFSI, and automobile industry as the major contributors to its economy.
According to the 2022 survey by Expatistan, the cost of living for a family of four in Pune is around Rs. 115,178 while that for a single person is Rs.50,088. To understand these statistics, in comparison, the cost of living in Mumbai is 32% more expensive than in Pune.
As per the 2021 reports by Housing.com, Pune ranked first among 8 cities in India in terms of health infrastructure- that includes parameters like the number of hospital beds, air-water quality and sanitation.
Pune is also one of the smart cities in India, with the integration of advanced technology to digitise the operations in the city.
The Construction Week report of 2021 states that MMR, Bengaluru and Pune are among the top three cities for end-use and investment. As per ANAROCk research, Pune enjoyed the highest rise of 38% on the average property rate between the years 2013-2020.
Overall, it is a cost-effective alternative and a culturally rich city that has facilitated an exponential demand in 1 and2 BHK in Pune.
Benefits of South Pune from an Investment perspective
Pimpri-Chinchwad and other regions under PCMC were the first to undergo a drastic transformation after the IT-sector takeover in Pune. These areas now have industrial prominence in the city, mostly preferred by the working professionals employed in major IT clusters.
While urbanisation is defined by infrastructure development, the standard of living and the income per capita, one thing that actually contributes to the livability of a place is the uniqueness offered by the city.
The South Pune corridor has retained the traditional essence of Pune from the pride of Marathas and Peshwas. The entire vibe of this locale can be summed up by the Marathi culture amalgamated with the modern standard of living thus resulting in a life that presents two worlds in one.
Such essence has led to many families entrusting this locale for a secured living. Thus, South Pune can be primarily considered as a residential zone. There are very few business parks in this corridor but due to efficient connectivity, people can access the entire city with ease.
Undri, Bibwewadi, Dhankawadi, Mohammed Wadi, Ambegaon Budruk, Wanowrie Dhayari, NIBM, Anand Nagar, Balaji Nagar, Indira Nagar is among the many efficient suburbs in South Pune. These areas accommodate non-IT crowds and locals, defence personnel and businessmen. Due to this extensive demography, the property value of South Pune has undergone a substantial trajectory in the past decade.
Moreover, the traffic congestion is way less than the industrial areas, thus enjoying a hassle-free commute. Since this corridor is lesser in price, most working professionals prefer to buy or rent 1 BHK & 2 BHK flats in Katraj Pune. People who have invested in real estate properties like flats in Katraj or other 1,2 & 2.5 BHK in Pune in these areas enjoy steady rental returns.
How Katraj-Kondhwa Road Contributes to the Property Value
Katraj-Kondhwa Road lies at the intersection between two major suburbs of Katraj and Kondhawa. This suburb presents a cordial environment, Pune from an analogue perspective. Simply put, this area is the much-needed solace from the fast-paced, unapologetically demanding city life that is enclosed by nature’s embrace.
Besides, it also is an emerging suburb owing to the connectivity and proposed infrastructure in South Pune.
This entire area is equipped with a quality healthcare circuit, ensuring ease of accessibility during emergencies. Whereas top-tier educational institutes such as Bharti Vidyapeeth College (Engineering, Medical), Sinhgad Academy of Engineering, NIBM Institute, Vishwakarma Institute of Technology & Management, Pune Institute of Computer Technology, Trinity College of Engineering are located in the vicinity.
On the other end, various recreational facilities and historical landmarks are based here, guaranteeing a family’s day of fun. Such a wholesome ecosystem has enticed families to consider this area for their permanent residency. Subsequently leading to high demand for 1 & 2 BHK flat in Katraj Kondhwa Road.
According to the Magicbricks report– 48% of properties like 2 BHK in Katraj Kondhwa Road are offered at the price range of Rs. 40-60 lakhs, while 23% of the properties range between Rs. 20-40 lakhs. With such a reasonable price range and various loans offered by top banks, the real estate value of this suburb is projected to appreciate considerably in the upcoming years.
Kolte Patil Three Jewels – A Jewel in the Crown of Pune
To assimilate all the monetary advantages of the above factors, Kolte Patil has introduced the Three Jewels project, with phase 1 of 800 units completed and delivered on time as 700+ families reside here. The USP of this project is that it offers commodious 2 and 2.5 RLK flats in Pune at a reasonable starting price of INR57 Lakhs*. The extrinsic factors such as exquisite view, good ventilation throughout the apartment, and proximity to the essential services affirm the allure of this project.
As for the intrinsic value of the project, over 30+ amenities have been incorporated into the complex that are fully ready to use. Homebuyers naturally gravitate towards such projects that exhibit adherence to approved plans. You get all these benefits inclusive of the prices stated for your apartment.
Apart from this, the floor plans are structured to accommodate any arrangement–from nuclear families to co-living spaces to renting amongst working professionals and conducive to PG as well. The dry balcony, enclosed balcony and terrace can be extended according to one’s needs. Simply put, the spacious rooms are the selling point of this project. Besides, the assurance of a gated community offered by this project is an invaluable asset.
From an investment standpoint, these flats near Iskcon Temple Katraj are observing steady traction. With Kolte-Patil’s reputation in the Pune real estate market, it is only a matter of time before this phase gets sold out as well.
To add a feather to the cap, Kolte Patil Offers a special 50:50 plan for real estate investors where only 50% of the amount needs to be paid at the time of booking while the rest half is to be paid after the possession of the flat. Bag this rare investment opportunity that offers an assortment of configurations and a promising ROI.
RERA NO:
Three Jewels (The project Three Jewels has been registered via MahaRERA registration number P52100006160
FAQs
Q1: Is the Three Jewels project approved by banks to issue loans?
A: Yes! In fact, major banks such as HDFC, ICICI, SBI, AXIS and LICHFL have deemed this project as bankable offering loans at an average interest of 6.70%.
Q2: What is the projection of appreciation for projects like Three Jewels?
A: Currently South Pune is undergoing an infrastructural boom. With such progress, it is estimated that within the upcoming years, this area will be considered as the top 5 locales for residences & businesses. Which will subsequently lead to a high appreciation of residential projects located in this area.
Q3: What is the price structure for Moonstone by Kolte Patil Three Jewels?
A: The Moonstone apartments are starting from INR 57 Lacs (*all-inclusive, and T&C apply). You can avail the individual prices and bifurcations on the Kolte Patil website by submitting your contact info and the sales representative shall revert back with detailed info. You can also download the brochure.
Q4: On what basis are the apartments of Moonstone Three Jewels valued?
A: The primary valuation is calculated corresponding to the carpet area of the apartment as per the RERA regulations. This excludes the staircase area and lifts passage being included in the calculations.
Q5: What are the estimated rental returns from the apartments at Moonstone Three Jewels?
A: Due to the high influx of students and working professionals from all over India, the rent structure in Katraj-Kondhwa Road ranges between INR 5000-35000. Since Kolte Patil offers such a gated community, young people entrust such residences which will lead to substantial rental returns.
Q6: What is the special offer by Kolte Patil on the Three Jewels Project?
A: The special offer by Kolte-Patil presents a proposition of payment of half of the amount at the time of booking and the rest half after the possession of the flat. This 50:50 offer is available for a limited time period.
