Sakal - April, 2005

For the first time in India, a residential project will be built in Pune by Gera Developments P Ltd., that will be cater to the development and growth needs of children.

This Rs. 20 crore project is spread over 4 acres of land at Baner and will incorporate all the needs and conveniences of children.

While conveying the objective of this innovative project, Mr. Kumar Gera, the company’s Managing Director said “The real estate development business is undergoing changes and projects are now being built catering to customer needs. Real estate developers should look beyond the conventional and should cater to customer needs and requirements. Keeping this objective in mind, we have undertaken this unique project. The urbanization process has been neglected the developmental needs of children. With most parents working these days, they find the need for such conveniences for their children and these requirements are not being met. Hence this project’s main objective is to provide for a child’s development as well as give satisfaction to the parents”

Briefing about the project, the company’s Director Operations, Rohit Gera said “ The Emerald City project will be completed in the coming 15 months and will have 3 towers with 160 2BHK flats of areas 1200 to 1600 sq ft. The current rate being charged for this is Rs. 1325 per sq ft. An area of 80,000 sq ft has been earmarked as play area for children. Vehicles will be parked only in the basement hence children can play in complete safety without being exposed to vehicular traffic. The buildings are being created keeping child safety in mind. Separate area for studying, birthday party areas, music room, crèche, school bus pick up area, gurukul area, telescope on the terrace and play area are some of the facilities being offered in this project. Importantly, there will be no extra maintenance charge for these facilities. During the 5 year warranty, the company will take care of these facilities and thereafter the charge of running and managing these facilities will be handed over to the condominium”.

Increase in construction costs
“With an increase in the prices of steel, cement, sand and the VAT and Service Tax have increased the cost of construction”, Mr. Rohit Gera said. “Builders are going to feel this price rise in this year and they will have no option but to increases their prices. Due to this, in the coming times customers may have to pay Rs. 30 to Rs. 50 extra per sq feet”, he concluded