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The Times of India (Times Property) - 1 March, 2011

The ongoing Times Premium Property Showcase will be a great opportunity for those on the lookout for a premium home, says SUCHITA PATIL The residential sector in Pune has seen an upward trend with the boom in the IT and the automobile sector giving a rise to lifestyle homes and premium apartments. Owing to this demand many developers in Pune are now offering state-of-the art projects with lifestyle features and innovative designs. If you are still looking for a dream home with breathtaking views, automated features, private swimming pools, sky villas within the city then the fourth edition of the Times Premium Property Showcase starting today at hotel The Westin at Koregaon Park is the place to be. The twoday exhibition will have properties on display that would essentially appeal to this niche segment of high-end property buyers. Select projects spread over the entire city suiting the needs both premium home buyers and investors will be showcased.Well known developers like Nandan Buildcon, Nyati Group, Amit Enterprises, Kumar Properties, Magarpatta City, Tricon Builders, Gera Developments, Supreme Universal, Goel Ganga Group, Manav Promoters, Amanora Park Town, Marvel Realtors among others will be showing best of their premium projects at the exhibition. Jayant Gehi, Assistant Vice-President, Business Development and Sales, Supreme Universal, says, "The expo will be a good opportunity for the developers to tap the niche segment and get to know about the right requirements of the buyers. The buyers can make the most of the expo by using this chance to go through various projects in the market, get valuable offers and make an informed decision. Supreme Pallacio, Supreme Estado and a commercial project, Supreme Headquarters at Baner will be among the projects on display. The premium segment in Pune has seen an upwards growth. He says, "The segment was untapped and so there was a limited supply of high-end products. But now a number of developers have entered this segment with a large number of people wanting to have more of spaces, good ambience, less maintenance and a secured environment." With every location in Pune now having a premium project, the amenities offered play a major role in making it unique. Sanjeev Pate, Director, Amit Enterprises, says, "With Pune spreading its boundaries many new locations are seeing good residential projects being developed giving a fast makeover to far-off locations and making it ‘next’ destinations. So a good product will also have a good response in spite of the location. "In a premium project, more stress is on the amenities rather than location. The layout, specifications and amenities offered together make the project attractive." This time the group would be highlighting three projects, Bloomfield and Astonia Royale at Ambegaon and Colori at Undri, Kondhwa. Pate adds, "Bloomfield is almost completed and we would be giving possessions in the next three to four months while work is going on at Astonia and Colori. On an average projects within the range of Rs 40 lakh to Rs 3 crore including 2, 3 BHK apartments, villas, bungalows will be showcased at the exhibition. The project offers amenities like Singaporean architecture, aesthetic landscaping, jacuzzi, clubhouse, swimming pool, children's play area, gymnasium, security systems among others. With the Indian economy growing, this segment which is around five percent is seeing an increasing demand constantly. Nitin Nyati, CMD, Nyati Group says, "Being a niche segment, the luxury market has been very good in Pune. A lot of products are being offered in the market offering lifestyle features with planned amenities attracting those with high disposable income wanting to have a premium lifestyle. Our premium project Wind Chimes would be the focus of the exhibition. Nearly 50% of the flats have been sold. So the response has been good." Demand for premium homes is coming from the vertical segment i.e. the top management, corporates, entrepreneurs wanting to have a quality lifestyle. Gehi adds, "The target buyers for such products are mainly people from top management levels, businessmen and IT professionals who want homes closer to their work space. As a result Eastern Pune has seen a spread of luxury projects and the same in seen in western Pune with areas like Aundh, Baner seeing more such projects due to the presence of IT hubs. A new trend witnessed in the segment is more of local buyers want to have a space of this kind bringing in more demand." Developers in Pune are bringing in international expertise and innovative designs and styles to woo the customer. Also the buyer today is willing to spend more to enjoy an exotic lifestyle. Maybe a visit to this expo can help you find your dream home. Be there! QUICK BYTES THE EXPO WILL BE A GOOD OPPORTUNITY FOR THE DEVELOPERS TO TAP THE NICHE SEGMENT OF HIGH-END PROPERTY BUYERS THE TARGET BUYERS ARE MAINLY PEOPLE FROM TOP MANAGEMENT LEVELS, BUSINESSMEN AND IT PROFESSIONALS

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