Old Pune and Pimpri Chinchwad areas score high on Coldwell Banker India’s liveability index
- Coldwell Banker India bullish on Pune realty sector
- Coldwell Banker India forays into the Pune real estate sector
Pune, May 27, 2015: ‘Pune holds untapped brokerage potential of ~ INR 400 crores from the residential sector’, saysColdwell Banker India’s latest report on Pune realty trends. In a press conference held in the city today, the company released aproprietary report on real estate sector in Pune. Present at the press conference were officials of Coldwell Banker India – Director, Mr. Ramesh Sharma, and Vice President, Strategies and Operations, Ms. Mona Jalota, who also announced the company’s foray into Pune’s real estate brokerage market with a unique franchising model for select partners only.
Coldwell Banker India – The Indian arm of the US headquartered Coldwell Banker Real Estate LLC aims to transform the highly unorganised Indian real estate sector to be more professional and organised thereby assisting all stakeholders viz.; the customer, developer and the independent broker Coldwell Banker India – sees tremendous potential in Pune. Their report takes an in-depth view of the Pune market dividing it into five regions.
Old Pune and Chakan i.e. the Pimpri Chinchwad area score the highest on Coldwell Banker India’s liveability index garnering a score of 51 out of 60. Kharadi with a mix of HIG and MIG projects stands next as a sought after residential and commercial real estate hub gaining 48 points. City’s western side of Hinjewadi earned 40 points and the southern region of Undri garnered 43 points. While Pune’s established IT and SEZ hub Hinjewadi is witnessing up-coming supply of single and multi-tower residential projects; Undri with its seamless connectivity to the Mumbai-Pune expressway predominantly remains a residential zone.
Given the enormous income generating capabilities and positive government policies, Pune is fast emerging as the preferred city for home-buyers. Mercer’s Global Quality of Living Rankings for 2015 place Pune on the 145th spot, second in India after Hyderabad and ahead of Bangalore, Mumbai and other cities. The city has a large base of homebuyers from the IT and manufacturing sectors who seek affordable EMI options and minimal maintenance charges.
Coldwell Banker India’s perspective is that there is a lack of professional brokerage companies as most of the international property consultants (IPCs) have traditionally targeted the commercial sector. Determined to unleash the latest potential of Pune’s realty scene, Coldwell Banker India is entering the city as a game-changer. For 2015, it is targeting 2 per cent share of the total retail brokerage potential pegged at about INR 400 crores.
The parent company Coldwell Banker enjoys a market share of 30% in the US. The Indian arm aims to acquire 5 to 7% market share in the country within the next 3 to 5 years by leveraging on its training, technology, digital platform, personalised services and access to properties worldwide. In accordance with the Coldwell Banker legacy, a part of the $5 billion Realogy Holding Corporation, Coldwell Banker India has invested $5 Million to establish its operations in India and aims to expand to 100 franchisees by 2018. Apart from the Residential and Commercial properties, Coldwell Banker India will soon launch Coldwell Banker Previews, some of India’s most iconic and premium properties to tap the Preview segment that comprises a network of ultra-high net worth individuals across the globe.
Coldwell Banker India also offers to set up an NRI concierge services desk for eligible franchisees to offer transparent and hassle-free service to NRIs across the world to access the Coldwell Banker network from 49 different countries while looking to purchase a home in India.
“Pune shows a lot of promise on the residential side with a sizable population of well-informed, 1st time homebuyers in search of affordable luxury. With 85% of Pune buyers in search of options worth less than 30 lacs, 14% for homes between 30 – 60 lacs and 1% with a 60 lacs – 1 crore budget, the demand for compact homes is on an all time high. While majority of realty players focus primarily on the commercial side, we currently plan to cater to Pune’s compact homes seekers.” said Ms. Mona Jalota, Vice President, Strategies and Operations, Coldwell Banker India.
Mr. Ramesh Sharma, Director, Coldwell Banker India, shared, “Coldwell Banker India has taken significant steps in expanding its presence across India. In a span of 6 months we have forayed into nine cities with a plan to have 30 franchisees by 2015 and touch the 100 franchisees mark by 2018. Pune is the latest addition in our portfolio. For a city that is growing in all directions we have taken a region specific approach to offer high quality real estate brokerage services for its working population.”
Pune is a win-win residential market both for 1st home buyers as well as investors given the steady income from rentals due to its strategic location, he added. CCI Newswire
