Kishor Pate

Sahakar Nagar, which is home to Pune's hoi polloi - the most established businesspersons and movers and shakers - has always been an extremely exclusive real estate market for decades, says Kishor Pate, CMD - Amit Enterprises Housing Ltd.

Pune: Sahakar Nagar needs no introduction to Pune's citizens. This elite residential area is one of the oldest and most respectable addresses in the city. However, those who are not familiar with the city may not even have heard of it. This is because Sahakar Nagar, which is home to Pune's hoi polloi - the most established businesspersons and movers and shakers - has always been an extremely exclusive real estate market for decades.

The primary residential configuration at Sahakar Nagar is bungalows and villas, which comprise most of the housing landscape of this high-profile location. The resident profile primarily reflects Pune's traditional Maharashrian ethos, which has helped preserve Sahakar Nagar's reputation as one of the last outposts of the city's communal roots. At the same time, the population of Sahakar Nagar is distinctly cosmopolitan.

Sahakar Nagar is unique in yet another aspect. Because of the fact that the residents of Sahakar Nagar will never want to move anywhere else, it has no resale market. Also, since it is fully developed and occupied for several years now, there is next to no new residential supply. Sahakar Nagar is largely driven by end users, but the investment potential is massive because of the lack of supply and very high demand for homes in this area.

The location itself is perfect. At a high elevation, it offers a breath-taking view of the Parvati hill area as well as thick reserved forest lands. Bharati Vidyapeeth, one of Pune's most upscale educational institutions, has its campus close by. The Pune-Satara road provides ready access to all key areas of Pun e, including Deccan Gymkhana, Swargate, Aundh, Camp and Koregaon Park as well as other key areas of Central Pune. The Mumbai-Pune Expressway is readily accessible via the Katraj Bypass. It is also within a stone's throw from City Pride Cineplex and has its own integrated high street shopping area, which most of the local residents patronize.

Thanks to its unmatched locational advantages and also its unique profile, Sahakar Nagar is an address that most Puneites have only been able to dream of. With next to no availability of residential units of any kind, its status as a stronghold of Pune's elite stands unassailable. The residential property prices in this exclusive location range between 12000-15000/square foot, but the prospects of obtaining a home here have so far been extremely restricted.

Amit Enterprises Housing Ltd. established its foothold in Sahakar Nagar back in 2007 with the launch of the luxury apartments project 9 Green Park. This project was finished in 2010 and is, not surprisingly, completely sold out. However, another upcoming luxury apartments project by Amit Enterprises Housing Ltd. still offers the hope of home ownership to Pune's discerning few. Arcadia - located adjacent to 9 Green Park - enjoys the most spectacular view yet of Sahakar Nagar's legendary beauty.

This ultra-luxurious apartments project has been designed by renowned architectural firm Talati & Panthaky - one of the country's most selective architectural houses that has created some of India's richest peoples' homes. Arcadia will consist of between 14-16 stories of residential apartments, backed up with seven stories of reserved parking. Arcadia will be a signature residential tower offering a distinctive final flourish to one of Pune's most sophisticated and exclusive addresses.