Peninsula Land sells apartments worth Rs. 150 cr at its newly launched project in Gahunje, Pune


By Vivek K. Mobile: 09920183006

Nandan Piramal

Peninsula Land Limited, a leading corporate real estate developer, part of the Ashok Piramal Group, announced that it has sold over 650 apartments at their newly launched affordable luxury project `addressOne` in Gahunje, Pune. The value of these apartments sold is over Rs. 150 crores making it one of the most successful launches for Peninsula Land.

Spread across 50 acres, addressOne is strategically located on the Mumbai-Pune expressway on the Pune side, next to the MCA cricket stadium. The project offers 5 typologies of apartments (1BHK to 3 BHK) having attractive prices starting from INR 18 lakh (inclusive of stamp duty, registration, and other taxes).

The project aims to provide ‘Luxury for All’ to its prospective home buyers by providing homes that are both luxurious as well as affordable. In its first 4 phases, the company launched approximately 900 units for sale that comprises of 51 four-storeyed buildings consisting of just four apartments per floor. This is Peninsula Land’s first affordable luxury project in Pune, after their completed and highly successful luxury project Ashok Meadows in Hinjawadi. addressOne is designed by renowned architect Hafeez Contractor. The company has tied up ANAROCK Property Consultants as their strategic partner.

Mr. Nandan Piramal, Director, Sales and Marketing, Peninsula Land Ltd. said, “We are overwhelmed with the strong response received for our project addressOne in Gahunje. We recently launched this project and we have already sold over 70% of the 900 units opened for sales at our project. We, at Peninsula Land, are firm believers in the ‘Housing for All’ mission, and addressOne is our first step towards working towards this belief.”

The Pune market overall holds great promise given its proximity to Mumbai and the thriving IT & ITES industry in Pune. There is great potential in this market overall but locations like Gahunje are likely to spur the residential demand. Real estate being a price sensitive business, demand for affordable housing is always high.

Gahunje is emerging as a residential location on the Mumbai –Pune expressway that offers easy connectivity to Pune, Mumbai and Navi Mumbai. This has led to the industrial development in the area. The nearest railway station from this popular region is the Akurdi railway station. Other social infrastructure like MCA cricket stadium, Symbiosis University, renowned D.Y. Patil College, Aditya Birla hospital enhances the importance of this area. Gahunje is also connected to arterial roads like MIDC that offers good connectivity to other locations. Hinjewadi IT Park, Talwade IT Park are also in close proximity to the location.

About Peninsula Land Limited:

Peninsula Land Limited is known for creating international landmarks that redefine India’s skyline. As part of the Ashok Piramal Group, the company is committed to creating international landmarks. They are amongst the first real estate companies to be listed on the stock exchange. This fact is the biggest indicator of their adherence to good corporate governance along with fair and transparent business practices.

Today, Peninsula Land is an integrated real estate company. Our projects include pioneering retail ventures, world-class commercial projects and residential complexes. They have delivered more than 7 million sq. ft. of real estate with over 10 million sq. ft. under construction & in the pipeline in Mumbai, Bengaluru, Pune, Goa, Nashik and Lonavala. Some of the landmarks that Peninsula has given Mumbai include the Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Crossroads, CR2, Ashok Towers and Ashok Gardens.

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