Extraordinary homes gaining prominence in Pune

A home that is a perfect manifestation of one’s success and status is a long desired aspiration in life of many. However, for those who make their mark in the society and achieve their goals in life want a home that inspires them and reflects their growth. The city of Pune has now transformed into a destination of such achievers owing to the variety of lucrative options for investment as well as for a peaceful living experience that Pune offers.

According to the recent trends, there is a spurt in demand for the ultra-luxury properties and exclusive residential properties as the city has a lot many well-to-do professionals who wish to have a home of their choice and standards. A survey has shown that the demands of these buyers are often specific and particularly when it comes to their requirements, needs and taste. These belong to the category of buyers who do not have a fixed budget as long as they are provided with some elegant, high class and properties with finesse  and prime quality. Premium housing  has turned out to be a buzzword for these buyers. 

Speaking of the city’s realty market, the luxury housing segment that came into the picture around five years ago, is now of the utmost demand. This shows that the demands of the buyers have shifted from affordable housing to buying luxury abodes. A major part of this steady growth in the industry is due to the global travelers who wish to have similar elegance, quality, premium features at home that they enjoyed anywhere outside the country. Vast, spacious living areas with expansive terrace, marble flooring of a top notch quality and personal spaces for their family members are few of the many luxury aspects that these elites desire to experience at home. 

Other than space, the locality and neighbourhood of the property is equally very important. The prime locations in Pune like Boat Club Road, Prabhat Road, Koregaon Park, Kalyani nagar, etc., that were known for their excellent quality living experiences, are overshadowed with more preference being given to the lavish premium properties with solitude and tranquil environs that are outside the old city boundaries.

“This shift in location preference in demand for lavish properties  in the city, is now a driving force for the builders and developers who have been providing premium housing options to the buyers in the outskirts of the city. Extraordinary homes have become the center of attraction for the connoisseurs of luxury. We, at Naiknavare Developers, believe in delivering not just homes, but, better living experience.” Says Anand Naiknavare. 

Eminence, an upcoming project in Viman Nagar, is an absolute example of extraordinary homes that offers 3 & 4 BHK luxuryresidences. The  distinguished packaging of this hexagonal apartment with back and forth sliding floors helps to deliver maximum light, space, views and utility at the same time. The grand sky-walk entries into every dwelling is one among the many elements of EMINENCE.

Likewise, the northeastern corridor of Pune has developed to a huge extent owing to the rapid development and set up of IT Parks in these locations. In today’s time, builders and developers like Lunkad Realty, Gera Constructions, Kolte Patil, ABIL, Panchashil, Trump Towers and many more are offering projects with an array of premium housing options to meet the upsurge in demand. 

This has also resulted in the growing interest of the new-age buyers, in properties that are exquisitely crafted and are thoughtfully planned to provide extraordinary and better living experience.

Investing in Real Estate? 5 Reasons to invest in the 2nd Best city to live in India - Pune

Planning to invest in real estate? If yes, then consider Pune as one of the best options for your investment plans!

Here is why the city turns out to be the 2nd Best city to live in India and why you must invest in Pune!

1)    Deccan Odyssey:-
Most of the times, the climate of Pune city is pleasant and descent. It is also referred to as Queen of Deccan or Deccan Odyssey in this regard. Monsoon is the best season, when you can explore the nearby places. Adequate rain fall is there in the city and thus there is no drought situation. Thus, the climate is conducive for the growth and development of real estate sector.

2)    Oxford of the east:-
Pune city is often called to as ‘Oxford of the East,’ as the city hosts many educational institutions and top b-schools in the world. There are many colleges and institutions in the world, that are ranked amongst the top brass institutes in the world.

3)    Booming IT Hub:-
The city is a booming IT Hub, as many IT companies have their base locations and corporate offices over here. It will soon gain the status of second Silicon Valley of India after Bangalore. Hinjewadi area of the city hosts many IT Parks and real estate development in such areas of Pune has been magnificent.

4)    Clean and Green:-
Pune city is the second greenest capital of India after New Delhi. The green trees along the roadside make the city look beautiful and lively. This is one of the big bonuses that the city has got for the development of real estate and commercial properties.

5)    Something for Everyone:-
Pune city is a shopping hotspot for almost everyone. On one hand it has posh areas like Koregaon Park, MG road for the rich and elite class people, FC road and JM road for middle class, and on the other hand there are Peth areas for the shoppers, lying within the affordable financial segment.

6)    ROIs on Investment:-
Last, but not the least, investments in Pune Real estate have been rewarding and have given handsome return on investments to the investors who have invested in properties in the city.
After having read these reasons, what do you plan to do next?

We suggest you to plan your investments accordingly! So get going now before it’s too late!

Eagle’s Nest – The Absolute Living!

Residential spaces – a broad term that we often use to refer to a living space that the home buyers look for.

But, there are various aspects of a residential space that differ one residential space from another. These could be the ambience and environs of the property, the facilities available in the property, the neighbourhood, the locality, the society, the quality of specifications and a lot more.  

Eagle's Nest

We, at Naiknavare Developers Pvt. Ltd. understand the differences and the necessities of the residential spaces that hold a special attention in the minds of the buyers. After all, it is significant that home buyers are well aware of their priorities and also, their requirements while they plan to choose a dream home.

This gives us the insights about the types of residential spaces or residential projects that appeal to the buyers. And, undoubtedly, who would miss a chance to own a home that is located in the serene environs and picturesque landscapes of Talegaon?

Our ongoing project – Eagle’s Nest is exactly a depiction of serene living experience without leaving the happening city life behind! 

Eagle’s Nest is located adjacent to the reserved forest & Green Zone of the colossal Sahyadri. At a height of 1900 feet above the sea level, Eagle’s Nest location beholds the jaw-dropping views of the majestic Indrayani valley. Well, that really does sound like a dream location, with the hills encompassing this lovely site of residential spaces and waterfalls & fully grown forest hilltops adding to the just explicit beauty of this place. 

The project offers the buyers, varied options from town houses, row houses, duplex apartments and 2 & 3 BHK Flats to pick from. The monumental designs, next to perfect natural settings and awe-inspiring views of Eagle’s Nest are absolute to spoil you for choice. 

Experience the journey of life in a beautiful manner at a beautiful location! Indulge with nature’s best setting for living at Eagle’s Nest.

Invested in Commercial Property in Pune? Rent it like this!

Finding tenants for your commercial space can be a daunting task. However, many times, we tend to forget to make a legal document or agreement and later just register the lease document after the tenant is finalized!

Investments in commercial properties in a city like Pune have increased over a period of time. However, renting out these commercial properties/spaces often become a tough task. One needs to have an in-depth understanding of the various aspects of giving the commercial property on lease to a tenant. 

If you have been thinking about renting your commercial property, here are some tips and guidelines that you must know before you rent out your property:

Naiknavare Developers: Commercial Projects

#1 Find your tenant: Well, sounds too simple to do, but, can actually take a lot of time in some cases. Finding a suitable tenant is the first and foremost step in leasing a commercial property. If this is taking time, you can take help from an agent to hire the suitable tenant. 

#2 Negotiating on terms & conditions: We suggest you to have pre-decided terms and conditions before preparing the final lease agreement or the tenant. Also, the terms and conditions such as who will be paying the maintenance charges should be well clarified beforehand.

#3 Signing the agreement: Once the tenant is finalized, decide on the terms and conditions for mentioning in the lease agreement. The tenure or the duration of the lease varies from one state to another.

#4 Registering the Lease: This lease agreement should be registered with the concerned authorities by paying the stamp duty and registration costs. Also, keep in mind that no stamp duty or registration costs are payable on the amenities or services agreement. 

We hope these tips were helpful for you!

Also, if you are in search of your 4 BHK apartments in Pune, you can explore some of our residential projects in Viman Nagar. At Naiknavare Developers, we believe in providing better living and lifestyle experiences in our residential projects.

Union Budget’16- A much awaited relief for home buyers

The Union Budget 2016 has, by far, turned out to be a win -win situation for all. From individuals to the corporate Inc and especially for those who are desperately waiting to buy their first home.

However, the budget states equal challenges as much as the opportunities it offers!

“This budget is welcomed &we congratulate honorable Finance Minister, Shri Arun Jaitley, for trying to meet the expectations of the consumers and addressing their concerns through the new reforms in the budget.
For the common man the following key measures assure better rewards:
a)    Rebates increased for earnings less than 5 lacs.
b)     First home buyers to get an additional deduction of INR. 50,000 on loan interest for loan amounts upto 35 lacs for houses less than 50 lacs.
c)    Women members get subsidy for gas connections for poorer households.

Many policies for the rural sector (total allocation of 87765r) will increase the output which will directly impact the economy favorably” stated by Mr. Ranjit Naiknavare, Director – Naiknavare Developers

He further adds“The three major aspects that have been proposed of real estate development are:
a.     Increase in HRA deduction (24000 to 60000 per annum)
b.    Removal of dividend distribution tax on REITS which will enable major investments in retail office and,
c.    Income tax benefits for projects with smaller flatsless than 60 sqm in non-metro cities if completed within 3 years which will ensure timely handing over of projects.

The vexatious land records are being digitized & this will help overall transparency in real estate projects which might encourage foreign funds capital inflow.

The current road construction stands at 16-18km per day & this will go up with additional  measures (additional 218000 Cr to be spent)  which will allow for 10000 km of roads in 2016- 17, that are proposed in the budget.

Also airports are being revamped and this will further ease travel and indirectly benefit the real estate.

At present, the current land acquisition act makes it difficult to acquire lands and the PSUs are encouraged to make land available for development.The shops and establishment act is being revamped & amongst other things, smaller high street shops will be allowed to be kept open
all seven days easing the requirements of the common man.

The Budget made a strong case for promoting start-ups in India with 100% tax rebate on profits announced for them for three years. This will encourage mixed use properties to cater for this segment. If there is some clarity on GST and implementation for the direct tax code, then we will see a much better growth for the economy.”


Mr.Ranjit Naiknavare concludes by giving out key highlights from the Budget, which could affect an individual:

1) 10 % Dividend Distribution Tax: Additional tax at the rate of 10% of the gross amount of dividend earned will be payable by the recipients receiving dividends in excess of 10 lakh per annum. Kindly note, this is for income from only company stock dividends and NOT from MF dividends.

2) 0.5% KrishiKalyanCess: Just like Swachh Bharat Cess, consumers will have to now bear introduction of KrishiKalyanCess of 0.5% on service tax for the welfare of farmers. So total service tax will be 15% from June 1st onwards

3) 40% of NPS Withdrawal taxfree: Up to 40% of the corpus withdrawal to be tax exempt in the case of National Pension Scheme (NPS). With an additional INR50000of tax benefit beyond 80C, NPS to become attractive for investors. The remaining 60% can be tax-free too, if used for buying an annuity.

4) Only 40% EPF withdrawal to be taxfree: To create a level playing field amongst retirement products, Government seems to be moving EPF from 100 % EEE regime to partial EEE regime to put it on par with NPS. This is applicable only on new investments from now on.

5) 1.5 % Service tax reduction for Annuity Policies: Service tax to be reduced from 3.5% to 1.5% on premium of single premium annuity policy from insurance companies and pension funds.

6) 60 K Deduction for House Rent: Deduction amount claimed against rent paid to be increased from 24,000 p.a. to 60,000 p.a. under Sec 87A. Not many know about this. Basically, this is useful to people staying on rent but do not have HRA as an income component.

7) 5,000 Rebate for Income upto 5 Lakhs: Rebate is increased from INR 2000 to INR 5,000 for an individual having annual income of up to Rs.5 lakh per annum. Now, such individuals can avail total rebate of Rs.5000 in an assessment year.

8) INR5000 additional Tax deduction for home buyers: First time home buyers to get an additional deduction of Rs.50, 000 on the interest component of EMI. The value of such houses should not exceed INR 50 lakh and loan 35 lakhs.

9) 15 % Surcharge on 1 Crore+ Income: Surcharge has been raised from 12% to 15% on the persons, other than companies, firms and cooperative societies having income above Rs. 1 Crore.

Outcome of Budget 2016 for Infrastructure and Roads Development

Budget 2016 has been released and certain reforms have taken place in the infrastructure sector. Here are the frontline points, mentioned in this year’s budget by India’s Finance Minister, Hon. Mr. Arun Jaitley:-

• Allocating funds worth of Rs.55,000 Cr for the construction of roads and highways; excluding  Rs. 15,000 Cr from NHAI bonds
• Total budget allocated to the Roads and Highway Construction is 97000 Cr which is inclusive of Pradhanmantri Gram SadakYojana (PMGSY).
• Total outlay of Rs. 2,18,000 Crores declared for Rail and Road development
• 10,000Kms of roads will be improved and 50,000Kms of state highways will be upgraded to National highways. The budget allocated for the same is Rs. 2,21,046 Crores
• Aiming to achieve 100% village electrification by 1st May 2018
• 10 public and 10 private sector educational institutions will be made world class
• 160 airports and airstrips can be revived in infrastructure
• 100% FDI will be enabled for the food products produced and marketed in India for the Food Processing Industry

Highlights of Budget 2016 for the real estate sector

With the rolling out of Budget 2016 by the central government, your requirements and expectations related to the real estate sector might have been paid heed to, by the government. You may also have your opinion, related to the real estate news from this year’s budget.
Here are the frontline pointers, revealed from Budget 2016, by India’s Finance Minister, Hon. Mr. Arun Jaitley:-
•    Service Tax Exemption for housing construction of houses less than 60 square metre
•    Incentives for newly started manufacturing companies and Small Scale Enterprises (SMEs)
•    Rent payers’ Deduction slab increased from Rs. 20,000 to Rs. 60,000, due to which, tenants would be benefitted.
•    Total outlay for infrastructure would be Rs 2,21,246 Crores in 2016/17
•    Allocation of funds, worth of Rs 55000 Crores for developing highway projects
•    DDT exempted from Real Estate Investment Trusts (REITs).
•    Quicker implementation of GST Bill and related reforms like Real estate regulatory bill, etc. which are pending before the parliament so far
•    Budget focus on infra and enhancing quality of life
•    Achieving the goal of housing for all by 2022
If you have any opinions on the above mentioned pointers, share them with us! We would be happy to hear from you about the expectations and the announced budget. Stay Tuned for some pointers on infrastructure development as declared during the Union Budget 2016.