Pune Presents Unique Model for Real Estate Development


Amidst endless controversies and blood bath at places including Nandigram and Singur over acquisition of property, Magarpatta Township of Pune presents a special illustration of how farmers can be involved with modern real estate development, at a peaceful and pleasant way.

Around 100 families that own land on the outskirts of Pune have produced an ultra-modern township, disperse in some 400 acre of property, following their determination to not to sell their ancestral property to property developers. Even the township sports a miniature golf course, a river, multistoried apartment buildings and a cyber city, which will be not any way less than individuals of DLFs and Unitechs.

Originally, Satish Magar, an entrepreneur with a political heritage ,’d come up with an idea of developing a prototype incorporated township from the 1990s when the majority of the farmers along with smalltime landowners were allured by real estate developers to promote their properties. Naturally, a countless amount of men and women were forged in to the prices, only to get themselves in a tricky position. Despite financial preparation, most of the families couldn’t afford the capital they made from selling property and came to earth zero after some period; at which neither did they have money nor the property they had ownership up on.

It was then Magar convinced them together with his model where they retained their ownership over land while at the exact same time he jointly developed their territory to give it a model of an incorporated township-the certainly one of its kind real estate project from India.اماريتس هايتس

According to estimates, the SEZ project will determine that the collective worth of Rs 900 crore where in 3,500 acre of land is going to be manufactured , out of which 2,500 acre of property is going to be utilized for industrial development, and the rest is going to be used for residential property development.

Around 2,500 acres will likely be utilized for industrial development and also approximately 1,000 yards for residential purposes. A detailed suggestion is to be filed to the State Government in just a calendar month. Not only can this initiative make ownership of the SEZ by the farmers, however, also attract 18,000 jobs into the field.

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