Peninsula Land sold over 1200 apartments worth Rs 300 crore at its affordable luxury project addressOne in Gahunje, Pune

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Mumbai, 07 May, 2019:  Peninsula Land Limited, a leading corporate real estate developer, part of the Ashok Piramal Group, today announced that it has sold over 1200 apartments at its affordable luxury project `addressOne` in Gahunje, Pune. The value of the apartments sold is close to Rs. 300 crores making it one of the most successful launches for Peninsula Land Ltd.

In its first four phases, the company launched approximately 900 units for sale of which it sold 800 apartments within few days of the launch. After receiving an overwhelming response, Peninsula Lands Ltd launched phase 3, 5 & 6 beforehand in order to cater to the demand. As anticipated, this phase also received a phenomenal response.

Spread across 50 acres, addressOne is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium. The project aims to provide ‘Luxury for All’ to its prospective home buyers by providing homes that are both luxurious as well as affordable. addressOne offers 5 typologies of apartments (1BHK to 3 BHK) having an attractive price starting from INR 19.5 lakh onwards (inclusive of stamp duty, registration, and other taxes). The project comprises of four-storeyed buildings consisting of just four apartments per floor. These apartments are based on Vaastu principles. Also, the project offers community living within a larger, better-utilized land area, with amenities and facilities that make it self-contained or self-sufficient. AddressOne is Peninsula Land`s first affordable luxury project in Pune. The project is designed by renowned architect Hafeez Contractor.

Commenting on the success of the project, Mr. Nandan Piramal, Director – Sales & Marketing, Peninsula Land Ltd. said, “We are thrilled with the customer response received for our project addressOne in Gahunje, Pune. The project saw an 18% rise in price appreciation since the project launch. Gahunje as a destination is fast emerging as the next big realty hotspot for Pimpri-Chinchwad Municipal Corporation (PCMC)’s residential needs thereby making it the next growth precinct of Pune. The Pune market overall holds great promise given its proximity to Mumbai and the thriving IT & ITES industry in Pune. The saturated regions of the city have pushed spillover residential demand to more affordable areas like Gahunje in Pune, which is seeing rapid infrastructure upgrades in the coming years. This has emanated into a subsequent rise in housing demand.”

He further adds, “In order to provide financial assistance to our home buyers, we have tied up with Home Capital who are providing interest-free loan on stamp duty & registration. We are happy to announce that around 350 home buyers have availed the benefits of this offer.”

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 the industrial development in the area. The nearest railway station from this popular region is the Akurdi railway station. Other social infrastructure like MCA cricket stadium, Symbiosis University, renowned D.Y. Patil College, Aditya Birla hospital enhances the importance of this area. Gahunje is also connected to arterial roads like MIDC that offers good connectivity to other locations. Hinjewadi IT Park, Talwade IT Park are also in close proximity to the location.