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Panchshil Realty sees significant increase in interest from Non-Resident Indians for its premium homes and branded residences

ANI | Updated: Dec 11, 2019 18:35 IST

Pune (Maharashtra) [India], Dec 11 (ANI/PRNewswire): Panchshil Realty, one of India's leading luxury real estate developers, today announced that it has seen a significant increase in interest from Non-Resident Indians (NRIs) for its portfolio of premium homes and branded residences in Pune. Sales too have seen an encouraging uptick in the current fiscal, till date.
The interest has primarily been from NRIs who are looking for ready-to-move-in homes that offer the same quality and lifestyle comforts and amenities that they have become accustomed to in their homes overseas. Besides, NRI buyers also benefit significantly as they do not have to pay Goods & Services Tax in the case of homes that are ready for possession right away.
Panchshil's award-winning residential portfolio includes:
-Panchshil Towers, a development comprising 9 towers with 60% open spaces where technology meets luxury. 3.5 and 4.5 bedroom-hall-kitchen apartments (BHK) ranging in size from 1400 square feet to 4600 square feet (all areas are RERA carpet areas) are available here. Four of the 9 towers are ready-to-move-in.
-yoopune - A stunning collection of ready-to-move-in branded residences designed by Phillipe Starck, the world's most renowned designer. 4.5 BHK apartments range in size from 3700 square feet to 4600 square feet (all areas are RERA carpet areas). yoo is synonymous with luxury property in prime locations across the globe.
-YOO Villas Pune is India's first and only YOO branded ready-to-move-in villa enclave and is also the world's first-ever YOO Villas project styled by celebrated designer Kelly Hoppen. The villas range in size from 5200 square feet to 14,500 square feet (all areas are RERA carpet areas).
-Trump Towers Pune features two striking glass facade towers of 23 stories each, with 46 spectacular single-floor 4.5 BHK residences spread across 4400 square feet (RERA carpet area). The interiors have been designed by leading Italian designer Matteo Nunziati. The project has a Platinum Certification by the Indian Green Building Council.
-Eon Waterfront features exclusive 4.5 BHK apartments spread over 3200 square feet (RERA carpet area) and located along the riverside.
Sharing his insights into this trend of increased interest from NRIs, Sagar Chordia, Director, Panchshil Realty said, "Panchshil has been the pioneer in bringing prestigious branded residences by global brands like yoo and Trump to Pune and, discerning apartment buyers find the overall proposition of buying a ready-to-move-in Panchshil home, extremely attractive and compelling. NRIs too are increasingly preferring ready-to-move-in homes. Moreover, we assist homeowners in leasing out their apartments thus ensuring that the asset is utilised and is generating revenue for the owner in the interim."
-Panchshil Towers has seen close to 600 apartments sold and around 100 apartments have already been handed over to owners, even as many of the first residents have moved in and started living there.
-Tower-I, the 9th wing has been launched at Panchshil Towers and bookings are now open.
-Eon Waterfront has seen good demand and Tower-F has just been launched and bookings are open.
Kharadi District
Panchshil has a sizeable presence in Kharadi which is located along Pune's eastern corridor. Kharadi has evolved into a full-fledged IT hub and a bustling business district with the who's who of IT and ITeS companies present here.
Panchshil Realty has a 6.5 million square feet Special Economic Zone spread over 2 phases, EON Free Zone-1 and EON Free Zone-2. In addition, Panchshil's World Trade Centre spread over 1.8 million square feet is the definitive address for international businesses in India.
Kharadi is a mere 10 km away from Pune Airport and prime neighbourhoods like Magarpatta, Hadapsar, Kalyani Nagar, and Koregaon Park are all within its reach. Kharadi's social infrastructure includes hospitals, schools, malls, and other amenities continue to be set up. Cityhub, at the World Trade Centre, is Pune's next big social hub featuring a variety of cafes, restaurants and lounges, provides relaxation avenues both during and after office hours.
Panchshil's Businesses - Key Highlights
-Panchshil Realty's total completed real estate portfolio is around 23 million square feet with another 20 million square feet under development.
-Panchshil Realty's three main business verticals are:
--Commercial, Retail and Food & Beverage which includes built-to-suit office spaces, Special Economic Zones, IT parks, integrated workspaces, malls & mixed-use developments.
--Hospitality portfolio comprising around 1200 rooms with leading brands like The Ritz-Carlton, JW Marriott, Marriott Suites, Courtyard By Marriott, Oakwood and Double Tree By Hilton.
-A significant chunk of Panchshil Realty's office portfolio is anchored by Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone Group LP.
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