‘Peninsula Land’ announces first affordable housing project in Pune


In a major push to the affordable housing scheme, ‘Peninsula Land’, a part of the Ashok Piramal Group has recently announced its first budget-friendly residential project in Pune. The project name ‘addressOne’ is located at Gahunje, which in recent times is becoming an upmarket residential suburb of Pune.


The residential township is spread across 50 acres of land and is offering five types of apartments from 1BHK to 3BHK with prices starting from Rs 18 lakhs (inclusive of stamp duty, registration, and other taxes). The project is located off Mumbai-Pune Expressway on the Pune side, next to the MCA cricket stadium.


According to vice-chairman and managing director of Peninsula land, “Affordable housing is clearly the most vibrant opportunity for the Indian real estate sector today, with ever-increasing demand emanating from this segment. The government has unveiled several initiatives, to give a fillip to affordable housing. With addressOne, we will provide genuine luxury homes, at affordable rates to our customers.”


Recently, Peninsula land has successfully completed their project in Hinjewadi. Talking about, AddressOne, the residential complex is designed by renowned architect Hafeez contractor and falls under PMAY (Pradhan Mantri Awas Yojana) scheme. In the first phase, Peninsula Land will launch around 1000 residential units in a 51 storeyed tower with each floor having four flats. Peninsula Land is known for delivery landmark Luxury projects. The construction will begin after monsoon and expected delivery is by early 2021. So when Luxury meets with affordability, it will definitely catch the eye of many prospective home buyers.


Meanwhile, Gahunje in recent times emerged as one of the most premium locations of Pune. Situated midway between Pune and Lonavala, Gahunje is home to many working people in and around PCMC, Hinjewadi, and Sahyadri. Many Mumbaikars are choosing Gahunje than Lonavala as their weekend destination because of its proximity to both Pune and Mumbai.