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Gera Developments Launches Lifestyle Homes In Pune - 17 October, 2013

Gera Developments, a Pune based leading builder, has launched a super premium lifestyle residential project called ‘Isle Royale’ situated at Bavdhan. “High-end flats costing more than a crore have seen great demand in Pune as luxury home buyers are ready to pay for elegance with amenities,” said Rohit Gera, Managing Director of Gera Developments during announcement of the launch of Isle Royale. "Luxury housing segment in Pune is witnessing a great demand supply balance. According to data available, over 73% of the apartments of the total 12,813 luxury segment flats in the city have been sold out by the end of June 2013. Around 2,300 residential projects are currently going on in and around Pune and of which only 10 % contributes to luxury segment," informed Gera. Revealing that Pune has been witnessing 60% rise in the supply of luxury flats, Gera further added that western and eastern corridors of the city are expanding rapidly. "Till June this year, Pune has recorded 238 luxury projects compared to 124 projects last year, thus showing about 60 per cent rise in this segment. This also shows that the supply has been doubled in just 12 months in luxury segment. Luxury housing forms five per cent of the total real estate business in Pune." he said adding, “Customers were predominantly from upper class service class from BPO, IT and manufacturing sectors along with business class people and those from Mumbai as well as Satara and Kolhapur Sangali. About Isle Royale, the project will have both lavish high rise apartments and exclusive independent super luxury villas. According to Gera, among areas in Pune which will see more luxury projects in the coming days includes Bawdhan, Kalyani Nagar, Baner and Kharadi. Bavdhan is known for people working in manufacturing, information technology, service professionals and the project is close to their work place. Bavdhan, attracts existing home buyers from Kothrud and Baner who want to move out of the thickly populated areas. Most of the home buyers in Bavdhan are investors of second home and belong to areas in Mumbai, who see this place as the best investment option, said Gera. Bookings for Gera's Isle Royale were open from October 5. The homes in the project offer state-of-the-art home automation technology, which includes world-class features like I-pad controls accessible from anywhere in the world. Residents of Isle Royale will have the privilege of having guard monitoring systems, intrusion sensors with hooters, private elevators and wi-fi connectivity. Other amenities at Gera's new project include an elder's corner, a luxurious 8500 sq ft swimming pool with underwater lighting facility, as well as squash and tennis and courts.

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