Project In Focus: Cyprus By Kanakia, Pune

Shortlisted amongst the proposed Smart Cities, the Pimpri Chinchwad area is considered a coveted destination for investment purposes. Tathawade is an emerging locality near Wakad that is witnessing a lot of real estate activities. Owing to proximity to the technology park in Hinjewadi and educational institutions, Tathawade is attracting urban home seekers and gradually transforming itself as a promising residential hotspot. Another appealing feature of Tathawade is its affordability as prices are much cheaper compared to neighbouring regions like Wakad, Baner and Aundh.

Cyprus is a housing project recently launched in the locality by leading developer, Kanakia Spaces.

Propguide looks at the prime features of the property:

About the property

Project RERA ID: P52100000561

Kanakia Cyprus is a newly launched residential project located in a rapidly developing neighbourhood of Pune at Tathawade near Punawale. Spanning over 1.29 acres of area, the property offers 107 units of 2BHK homes sized between 875 sq ft and 1,039 sq ft. Launched in July 2017, it is presently under construction and will be ready for possession by June 2021. The apartments have premium features and cater to the space needs of new age homebuyers. Flanked by the Punawale road, the property has internal roads, community buildings, street lighting and stormwater drains along with a host of  amenities such as:

• 32 closed car parking spaces
• A rainwater harvesting system
• A gymnasium
• A clubhouse
• A swimming pool
• An indoor games facility

The developer 

Kanakia Spaces is a successful Mumbai-based real estate company with over three decades of industry experience. It has steered residential, education, commercial and entertainment projects with a total built-up area of over 13 million sqft.

Neighbourhood

Linked through the six-lane Mumbai-Pune Expressway, Tathawade is in proximity to popular residential hubs viz. Punawale, Hinjewadi, Wakad, Thergaon and Ravet. It is one of the fastest growing localities of northwest Pune. A part of the Pimpri Chinchwad Municipal Corporation (PCMC), Tathawade's development plan was recently approved by the state government. This will involve the development of civic amenities for the residents including playgrounds, a hospital, gardens, vegetable market, a sewage treatment plant, a crematorium, a fire station, parking areas and an elevated storage reservoir.

Connectivity

The locality is strategically nestled between Aundh-Ravet BRT Road and Pune-Bangalore Highway. It is well connected to Hinjawadi IT Park with three hours' commute to Mumbai. Nearest international airport is 46 kilometers from the area while the railway station is only 6.7 kilometers away. The area is reachable via National Highway 4 from nearby villages and has the Bus Rapid Transit System (BRTS) service.

Social infrastructure

Renowned colleges of the city namely Dr. D Y Patil Institute of Hotel Management and Catering Technology, Indira Group of Institutes and Sri Balaji Society's Law College are located nearby. Besides, residents can easily access all the conveniences like bank branches, malls, healthcare centres, restaurants, etc.

Average price in the area

Residential properties are available for an average capital value of Rs 5,500 per sq ft. Apartments of the 2BHK layout with an average unit size of 1,070 sq ft are available for an average price of Rs 53 lakh. Apartments of the 3BHK layout with an average size of 1,500 sq ft are priced at an average of Rs 75 lakh.

PropGuide's verdict

Owing to IT Park, colleges and industrial pockets of Talawade and Bhosari in the vicinity, the property is a suitable choice for families looking for homes close to their workplaces or colleges. The prices are reasonable, thus, an ideal option for first-time buyers as well.