Monday, December 20, 2010

Vascon Developing Rs 400 cr High End Penthouse Project in Baner

If you work at Hinjewadi, Pune’s growing IT hub, where thousands of techies are employed, Baner, just a few kilometers away, would be a better place to stay at than any other place. If you are a Mumbaikar, and want to own a second house, this is the place, for you could reach your home in Baner by the expressway, without getting into the city’s traffic tangle. And if you fancy letting your hair down and go bird-watching, the serene and soothing Lashan Lake is a stone-throw away.

Pune-based Vascon Engineers, a real estate company, is developing a Rs 400-crore residential project called Willows, consisting of high-end, 2,500 sq ft to 3,000 sq ft homes and penthouses exceeding 6,000 sq ft. It would consist of four towers, each with over 65,000 sq ft area.

“The first phase of Willows is nearing completion and we will be able to deliver to our clients within six months,” R Vasudevan, managing director, Vascon Engineers, told Financial Chronicle. The project would have 80 homes of 2,500 sq ft each and eight penthouses of 6,000 sq ft each. He said the units would carry a tag of Rs 4,250 per sq ft. “Our prices are reasonable and even during boom time, we never exceeded Rs 3,000 per sq ft,” Vasudevan added.

Each floor of Willows offers only two apartments, designed to be eco-friendly, and offers maximum privacy. The unique feature of the project is that every apartment has a private garden. Designed by Bangalore-based Total Environment, Willows claims to be a zero-discharge project, with its own bio-gas plant and water treatment system. The apartments have been designed to allow maximum natural light into the houses and ensure maximum reuse of water,” Vasudevan said. Also, each house would have piped gas. Access to the apartments would be controlled through a high-tech security system.

The company does not seem to be worried about the lack of buyers in a stagnant market with 25 per cent price correction last month. “Ours is a niche project that has not lost its demands. We are catering to end users and not investors. There is still demand for high-end apartments,” Vasudevan said. Each apartment would cost Rs 1.62 crore, he added.

Our focus is on providing a green island of luxury and peace within easy reach from Hinjewadi IT Park and Pune-Mumbai Expressway. This is our fourth project in Baner and is being built because of growing demand from our clients for high-end apartments. Our earlier projects are Paradise, Paradise Towers and Eves Garden, all in the Baner residential zone,” Vasudevan said.

The second phase of Willows would consist of three towers of 25 storeys each, for which, permission is expected to come in the next few months. It would be launched in another nine months. Willows is being built over 18 acres, with 75% open and green spaces, because of podium parking.

Source Link:- Financial Chronicle

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