Spread over 18 acres, the project consists of a total of 900 housing units in 18 buildings at Keshavnagar. Each building will have 12 floors and each floor will have three-four flats
After having set up six residential projects in various prime locations in the fast developing Pune city, real estate developer Phadnis Properties has now launched Eastern Ranges, a premium residential project at Keshavnagar in Mudhwa zone, Pune.
Spread over 18 acres, the project consists of a total of 900 housing units in 18 buildings at Keshavnagar. Each building will have 12 floors and each floor will have three-four flats.
The Pune-based company is investing Rs 650 crore to build 2, 3 and 4 BHK flats and penthouses. “The funds for the project have been raised through our internal accruals and bank loans,” Vinay Phadnis, chairman and managing director, Phadnis group, said.
The Phadnis group owns two luxury resorts, Radisson Spa and Resort in the coastal area of Alibaug, near Mumbai and Sahil Sarovar Portico at the popular hill station Lonavala, near Pune and has diversified into information technology, infrastructure development, and food and confectionary business.
“The Eastern Ranges project is coming up at a strategic location in Keshavnagar, alongside the proposed 100 ft DP Raod and will be just 10 minutes away from the EON SEZ project in fast developing Kharadi industrial belt,” Phadnis said. The sizes of the flats would be in the range of 1,015 sq ft to 2,121 sq ft with the starting price tag of Rs 45 lakh for a 2BHK flat. The 3BHK flat with 1,500 sq ft – 1,700 sq ft area will cost Rs 62 lakh to Rs 75 lakh while 4BHK flats with 1,700 sq ft – 2,000 sq ft are priced at Rs 75 lakh to Rs 1 crore. “There is a lot of demand for houses in the price range of Rs 35 to Rs 45 lakh in Pune and we are targeting this group,” Phadnis said. He said the first phase of 350 flats in the project will be ready for possession in the next 28 months. The size of the penthouses will be 2,100-3,500 sq ft with a price tag of Rs 1.25 crore-Rs 1.70 crore.
“The state-of-the-art design layout ensures better air circulation, maximum ventilation and flow of natural light,” Phadnis said. Other features include vehicle free podium with landscape garden and activity zone catering to all age groups, privacy for each flat with three side open design and no common walls, high tech security system and ample green spaces.
“The project is attractive due to its proximity to the IT hub and some of the major industrial belts of the city, educational institutes and colleges, shopping and entertainment centres and the airport,” Phadnis said.
The company will also develop an IT tower, retail and commercial spaces and a 25-bed hospital spread across 1.5 lakh sq ft in the second phase of development in the project.
