TMC launches phase II in Karjat

Pune: Tanaji Malusare City (TMC) has announced the launch of its Phase II of the project in Karjat.

Mr Pravin Banavalikar, Chief Executive Officer, TMC, said it would be offering 15,000 homes in the second phase of 160, 225, 325 and 400 sq ft carpet area.

The tenements will be priced between Rs 2 lakh to Rs 7 lakh. These tenements will be offered on a first-come first-serve basis and said that the 160 sq ft home will have an additional loft area of 60 sq ft.

The Karjat site is spread over 100 acres and is master planned by the Australian firm, Sinclair Knight Mertz Consulting, he said.

The project is executed by Sterling Construction Systems Ltd (SCS), who have been contracted to provide services such as turnkey project management, environmental planning and assessment, including waste management, transport and traffic design.

About 15,000 units are being planned, of which 6,000 will be offered to the MMRDA (the Mumbai Metropolitan Regional Development Authority, he said the phase two delivery has been planned for completion by December 2009.

Mr Pravin said TMC would be offering MMRDA 6,000 apartments free of cost in exchange for additional FSI and the creation of offsite infrastructure. As part of the infrastructural support, MMRDA has planned to create a growth centre in Karjat in addition to building six-lane roads plus the necessary electricity, water and municipal infrastructure.

Mr Pravin said TMC had first launched its project in Mumbai in September this year and 66,000 applicants had applied for the first 3,000 homes. He said of this 1,100 were on the verge of receiving sanction letters from the banks.

He said it has received approvals from ICICI, Mahindra Housing Finance, Grover, Dewan Housing Finance and has also approached public sector banks for their finance support as also co-operative banks. He said the first project will have 15,000 units spread across eight million sq ft, coming up over the next two years. The 3,000 homes allotted is expected to be completed by 2009.