Hi All,

"Umang" Project in Kolte-Patil township(Lush County) at wagholi is delayed?? And the site manager is saying that it will get delayed by atleast 3 months because some clearance is pending...!!

Do you know more about the this project and your views on it?

Kind Regards,
Pramod
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  • Hey Guys,

    Any Updates or new info about Kolte patil "Umang Homes"??
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  • Umanh homes- Wagholi

    Guys;

    Any update on the commencement of construction? Have they started construction...any news..pls let me know
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  • Info about Wagholi real estate future

    http://myvishwa.com/PublicBlogs/PublicBlogs.aspx?ProfileId=5311037356331351081

    REAL ESTATE INVESTMENT AT WAGHOLI OR KHARADI :THE NEXT VIMAN NAGAR OF PUNE (Part one)


    Pl do not get surprised by the statement. If you evaluate this area on the basics of real estate investment you will be also in the agreement with my statement.

    Real estate investment is always based on two basic criteria.

    1) Appreciation of asset

    2) Return on investment.

    When you consider appreciation of asset; one normally thinks of annual growth of 18 to 35%

    This growth always depends on certain growth busters for that area. The period expected to complete the development or to en cash the growth buster also plays important role.

    Return on investment is broadly observed in terms of rentals.

    Now if we start analyzing the growth of Wagholi & kharadi on abovementioned basis, one can easily conclude that these are very much in line with the reasons for the growth of Viman Nagar. The transformation period of Viman nagar was from 2003 to 2007.

    During this period Viman Nagar took a jump from Rs 900/ sq. ft To Rs 5000/ sq. ft.(Residential properties)

    Growth Busters For Wagholi & Kharadi.

    1) Employment / Job Opportunity.

    Eon IT Park (around 4 million sq. Ft.) Till last year occupancy level of EON IT park was poor but Since Jan 2010 companies has already started flowing in to EON.
    Magarpatta city IT Companies
    Ranjangaon MIDC- Approx 700 acre +
    Sanaswadi MIDC 200 Acres +
    In any IT company the workplace per employee is approx 100 sq. ft. But his residential requirement is in the range of 1000 to 1500 sq. ft.( i.e. ten to fifteen times of his workplace)

    So for example for 10000 IT employees the residential requirement is in the tune of 10000 x 1000 sq. ft (min flat area). This totals to 250 Acres (10000 x1000/40000)

    In case of Industrial area work place per employee is approx. 30 to 40 sq. ft. but residential requirement per person is Approx. 500 to 800 sq. ft

    So now you can easily imagine the residential requirement of Wagholi & Kharadi.

    It totals down to approx min. 4000 to 6000 Acres.

    Considering this requirement one can easily imagine returns in a tune of 20 to 30 % per annum for next three years.

    2) Closeness To Airport.

    The new proposed road which starts from Shi Waghereshwar temple to Lohgaon Airport concludes with a distance of 10 Kms. The road work is already in process. Closeness to airport has played major role in Viman nagar development.

    3) Infrastructure: Road, Ring Road, Metro, Water

    Six lane (3+3) highway is already there

    There is a proposed ring road

    Metro is also proposed till Wagholi

    Now a days no Corporation can guarantee the 24 hrs water supply but in this area Jeevan Pradhikaran is already functional and utilizing world banks aid for resolving the water problem.

    4) Educational Institutes :

    Lexicon and Jyotirmay international schools. Bishops is also there.

    5) Lifestyle & Entertainment:

    Various levels of restaurants and star hotels. ad Lab at Kalyaninagar and E Square at Kharadi. The approximate distance from Wagholi to KalyaniNagar is 8 kms.

    6) Health :

    No. of good multispecialty hospitals and a driving distance of 20 min from Ruby and Jahangir Hospital.

    7) Driving distance and time from industrial area to current residence of Buyer

    This directly affects or force buyer to change his current address to Wagholi & Kharadi.

    For example consider case of somebody working in Ranjan gaon MIDC and currently staying at shivajinagar or Karve road area.

    His daily travel time of one side

    Karve Road to Wagholi- Distance 25 Km- Time required is min 60 to 80 min.

    From Wagholi to Ranjangaon- distance 35 to 40 km Time required is 45 to 50 min.

    So if he is going to change his address from Karve Road to Wagholi or Kharadi he is going to save 120 to 160 min per day; which he can spend with his family.

    Considering all seven factors, I strongly believe Wagholi and Kharadi are going to become next Viman Nagar. So I will recommend this as new investment destination in Pune. One should not be surprised if per sq. ft rate for residential property at Wagholi and Kharadi, crosses a mark of Rs 4000/ sq.to Rs 4500/sq. ft in a span of 14 to 18 months.
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  • Toooooo much optimistic view.... I think Rohit is holding some land in Wagholi area....good try buddy...but it will take atleast 10-15 years of time to change the Wagholi
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  • Originally Posted by real_analyst
    Toooooo much optimistic view.... I think Rohit is holding some land in Wagholi area....good try buddy...but it will take atleast 10-15 years of time to change the Wagholi



    too much pessimism..and even without any facts or reason..just for the sake of it..
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  • Originally Posted by rohit09

    I strongly believe Wagholi and Kharadi are going to become next Viman Nagar. So I will recommend this as new investment destination in Pune. One should not be surprised if per sq. ft rate for residential property at Wagholi and Kharadi, crosses a mark of Rs 4000/ sq.to Rs 4500/sq. ft in a span of 14 to 18 months.


    Plz share this info ASAP with Kolte-patil of Umang-project, Wagholi :D
    They will immediately restart this project.
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  • I am not sure whether Kharadi OR Wagholi are going to become the next Vimannagar. But it is true that there are a lot of big name developers located in Kharadi. Vascon, Panchshil, Marvel, Kolte Patil, Kumar Properties, Gera, Clover, Nyati, BU Bhandari, Goel Ganga are some that I can immediately think of. However, I am biased towards Kharadi because I am actively looking at that area. Wagholi is just too far man, I want to atleast tell people that I am living in Pune:)
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  • Originally Posted by bheeshma
    I am not sure whether Kharadi OR Wagholi are going to become the next Vimannagar. But it is true that there are a lot of big name developers located in Kharadi. Vascon, Panchshil, Marvel, Kolte Patil, Kumar Properties, Gera, Clover, Nyati, BU Bhandari, Goel Ganga are some that I can immediately think of. However, I am biased towards Kharadi because I am actively looking at that area. Wagholi is just too far man, I want to atleast tell people that I am living in Pune:)


    bheeshma...do you work there in Kharadi ? Why are you biased for Kharadi ? May I know the reasons ?
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  • Originally Posted by harishkulks
    bheeshma...do you work there in Kharadi ? Why are you biased for Kharadi ? May I know the reasons ?


    I like Kharadi primarily because of its proximity to Kalyaninagar, Vimannagar, Koregaon park ( I work here ) and Magarpatta City. All these locations can be reached within 20 minutes. The second factor is that its in the PMC limits.The Third factor is is that there is a lot of visible construction activity going on in that area which makes be believe that at some point in time it will be a livable location ( minus the water mafia ). I am been to almost every nook and cranny of Pune in my home search , except PCMC and have zeroed my choice to Kharadi. Its not the best location in Pune of course but given the many limitations that I face its the most optimum one, I believe.
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  • Originally Posted by kazihamed
    too much pessimism..and even without any facts or reason..just for the sake of it..


    Rohit's post seems completely an advertising....4000 sqft in in 1-2 years...It is almost double man!

    I dont understand why you call denying the views in the Rohit's post as too much pessimism :bab (39):
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  • Originally Posted by home123
    Rohit's post seems completely an advertising....4000 sqft in in 1-2 years...It is almost double man!

    I dont understand why you call denying the views in the Rohit's post as too much pessimism :bab (39):


    Almost Double ..

    It's already 3000.
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  • But none is buying at 3000. :bab (24):

    Originally Posted by neeraj_bitm
    Almost Double ..

    It's already 3000.
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  • Originally Posted by aditi sharma
    But none is buying at 3000. :bab (24):


    why do u assume that?
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  • Originally Posted by bheeshma
    I am not sure whether Kharadi OR Wagholi are going to become the next Vimannagar. But it is true that there are a lot of big name developers located in Kharadi. Vascon, Panchshil, Marvel, Kolte Patil, Kumar Properties, Gera, Clover, Nyati, BU Bhandari, Goel Ganga are some that I can immediately think of. However, I am biased towards Kharadi because I am actively looking at that area. Wagholi is just too far man, I want to atleast tell people that I am living in Pune:)


    Few years (around 7/8) PMC project Kharadi as next IT destination after Hinjewadi phase 1 & 2 and big builders bought lot of land during this time but as most big IT companies were already at Hinjewadi preferred to set their officies in phase 3.
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  • Originally Posted by mahesh pune
    Few years (around 7/8) PMC project Kharadi as next IT destination after Hinjewadi phase 1 & 2 and big builders bought lot of land during this time but as most big IT companies were already at Hinjewadi preferred to set their officies in phase 3.


    Quite clearly, the big IT companies will find it difficult to move base anywhere else other than Hinjewadi. However, besides IT companies being located there Hinjewadi has really nothing else to offer. There a a few projects in Hinjewadi, yes but nothing else really. Kharadi I think has a good mix of IT, Residential & Commercial Space upcoming with close proximity to key areas of East Pune & projects in Kharadi are less "overpriced" if you know what I mean. Of course, the infrastructure leaves a lot to be desired. But like I said in my earlier posts I am hoping that too will come through. I am willing to wait, I am in no hurry.
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