Work on third Megapolis starts in pune

Pune: While two townships are already under construction in Pune, the third Megapolis, a 150-acre township is also taking shape.

The township is coming up at phase III of Hinjewadi where Blue Ridge township, a Paranjape Scheme, is also getting ready.

Pegasus Properties, a joint venture between Avinash Bhosale Group and Kumar Properties, has announced the launch of Megapolis at an investment of Rs 1,400 crore .

Mr Manish Jain, Joint Managing Director, Kumar Properties, and Mr Amit Bhosale, Director, Pegasus Properties Pvt Ltd, said the property is under construction and would be completed in the next five years.

Mr Jain said the township would have 58 high rise towers with 21 storeys each. The options would include studios, one to five BHK (bedroom hall kitchen), and senior citizen blocks.

He said the phase I, which was launched on Tuesday, would give the consumers the options of two, 2.5 and three BHKs. The rate would be Rs 3,250 a sq ft for a two BHK, and Rs 3,300 for a 3 BHK.

He noted that the studio apartments and the rest were still in their planning stage. The township would offer multiple pools, gymnasium and club houses with indoor games, outdoor sports activities, dedicated bus service, Wi Max, bank/ATM, polyclinic, private schools, themed restaurants, hypermarket, and tax collection centres.

He noted that it would also be providing guest room apartments for visitors, with a nominal charge for its use. It would also have about 60 service apartments, he said.

Mr Bhosale said that phase I would have about 900 apartments and would be completed within two years.

The total township would have about 5,800 apartments, and would be completed in five years. He noted that it was looking at promoting the ‘walk to work’ culture as all the major IT companies in Hinjewadi were within walking distance.