Kumar housing launches luxury project in Pune

Pune-based real estate developer Kumar Properties has forayed into the lucrative luxury residential segment with its first project ‘Sienna’ at Hadapsar in Pune. The 46-year-old firm has plans to launch several luxury residences under its Privie brand, according to a report.

“We are creating a Privie brand for specially designed luxurious residences for the discerning select few who value free uninhibited living spaces; and Sienna is our first project,” Rajas Jain, managing director at Kumar Properties told Financial Chronicle.

He said Sienna, spread over four-acre at Hadapsar, and across Mag­arpatta mega township, offers three- and four-BHK condominiums spread across two independent four-BHK towers and two three-BHK towers. The project will offer a total of 84 flats, and the first phase of the project will be ready for possession by 2015.

“The towers are interconnected and the layout ensures that each home has its privacy, and each tower its own private rooftop,” Jain said. Each rooftop is designed to function as a private getaway with a lavish swimming pool and deck area, he added. Jain said the firm is investing Rs 120-150 crore in the project. This excludes the price of land. The money will be raised through internal accruals and sales.

The apartment sizes are 2,293 sq ft for 3BHKs, and 3,135 sq ft and 3,193 sq ft for 4BHKs. The firm said the property is priced between Rs 6,000 and Rs 7,000 per sq ft and will cost between Rs 1.75 crore and Rs 2.5 crore for the 3BHK and 4BHK units, respectively.

“Each condominium has a spacious attached terrace and is designed with the state-of-the-art lifestyle amenities, including master bedrooms with attached walk-in closets,” Jain said. Also, each apartment has an integrated video door phone, digital lock for the main door and intercom facility, he said.

The designer air-conditioned entrance lobby is fitted with CCTV cameras. At the centre of the towers, there is a landscaped garden with deck arena, exclusive play area for children and sit-outs for senior citizens in outdoor plazas/gazebos.

Jain said Sienna project is a few minutes away from malls such as Amanora Town Centre, Pune Central, Phoenix and KPCT Mall; five-star hotels such as Saint Laurn and the Westin; and prominent educational institutions, the report further stated.