Mahindra Lifespaces sharpens focus on Pune

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~ New tower launched in Phase 3 of ‘Antheia’ in Pimpri

Pune, May17th, 2017: Mahindra Lifespace Developers Limited (“MLDL”), the real estate and infrastructure development arm of the Mahindra Group, is focused on Pune as a priority market for the Company’s residential business. Mahindra Lifespaces has recently launched a new tower in Phase 3 of its mega residential project ‘Antheia’, located in Pimpri-Chinchwad, a fast growing industrial & IT hub in Pune.  Comprising 2BHK and 3BHK apartments, ranging in carpet area from 810 sq. ft. to 1203 sq. ft. (as per Development Control Regulations), the new tower is the latest to be launched at Antheia, which consists of an overall plan of 1440 apartments across 15 buildings spanning 16.5 acres.

‘Antheia’ is Mahindra Lifespaces fourth residential project in Pune, after ‘Mahindra Royale’ in Pimpri-Chinchwad, ‘The Woods’ in Wakad and ‘L’Artista’ in Sopanbaug.  With Pune prevailing as a steady residential market despite a slowdown in the sector over the last couple of years, Mahindra Lifespaces continues to maintain a strong focus on growing its presence in the micro market. 

According to Ramesh Ranganathan, Business Head, North and West, Mahindra Lifespace Developers Ltd., “Pune will continue to remain a priority market for us, from the perspective of growth opportunities in the immediate future, and beyond.  Being primarily end user driven, the Pune market has largely retained its rationality and viability, and offers satisfactory rental incomes.  Moreover, the healthy rate of employment generation in Pune – especially in the IT/ITeS, manufacturing and automobile sectors – ensures demand and property purchasing ability, which augurs well for residential real estate in the city.”

Antheia by Mahindra Lifespaces is well connected to the city centre through the old Pune – Mumbai highway.  Keeping in mind the lifestyle preferences of home buyers in Pune, Antheia has been designed to offer a healthy and balanced community living experience, replete with spacious homes and modern amenities and features.  Furthermore, in keeping with Mahindra Lifespaces’ focus on environment-friendly development, Antheia incorporates green building designs, energy efficient walls and roofs, water efficient plumbing fixtures, rainwater harvesting, a sewage treatment plant, naturally lit and well-ventilated living spaces and waste segregation at source enable a resource conscious living experience for residents.  

Proposed nearby infrastructural developments include the upcoming Pimpri metro station located within half a kilometer of Antheia, an International Exhibition and Convention Centre in Moshi and an international airport in Chakan. Key social infrastructure like schools, engineering colleges, medical facilities and malls are alsonearby. More than 500 homes in phase 1 of Antheia have been handed over so far, and another 450 handovers are planned this year. 

Recent reports have placed Pune among the top four cities in the Asia-Pacific region in terms of investments in commercial assets.  Moreover, impetus on infrastructure such as the upcoming Pune Metro is expected to add to the city’s liveability quotient.