Planet Smart City and Kolte-Patil Developers address high demand for 1BHK homes in the smart housing segment in Hinjawadi, Pune


Pune, 18th November 2022 : To address the rising demand for smart 1BHK apartments in Pune’s Hinjawadi region, Planet Smart City, a leading global prop-tech developer, has jointly designed with Kolte-Patil Developers, bespoke fully-furnished* 1BHK apartments for new-age home buyers. Since its establishment, Planet Smart City has raised over US 176 million of capital from institutional and private investors to implement its ambitious growth plans, with the aim of selling 45,000 housing units per year by 2032.

The Universe – Project Features
• 6,000 sq.ft. Club house
• 13,000 sq.ft. Innovation hub offering integrated digital facilities such as
o Tool room (Library of Things)
o Hobby room (Laboratory)
o Health Corner
o Discussion rooms
o Co-working spaces
o Conference/AV room

Designed and developed in Italy, the Innovation Hub is a category-first digital development to enhance productivity and elevate lifestyle of the residents

With that, the project also features:
• Intelligent Lighting Systems in landscape area
• Optimised Irrigation System
• IoT -Enabled Boom barriers
• Smart Water Meters
• Smart Parking and Lobby Lights
• Air Quality Monitoring System
• A solar powered Smart Bench
• Urban Garden
• SOS Columns for Senior citizen and residents
• Smart Gym that generates electricity

Over 235 new 1BHK apartments will be launched in the aspirational housing segments covering a development potential of approximate 145,000 sq.ft. This tower is part of Life Republic’s Universe – a smart residential project spread across ~10.3 acres now consisting of 1,775 apartments and 160 retail outlets across nine towers and Planet’s pioneering Innovation Hub with over 40 lifestyle amenities comprising 28+ smart solutions and ample open green spaces.

The new tower launch will cater to end-user home buyers and investors who wish to rent out their apartments. The fully furnished apartments will help elevate the overall living experience as compared to traditional apartments. The year-end festive period will also drive apartment sales traction and turn-around time for purchase. Planet and Kolte-Patil Developers are jointly offering various incentives and attractive payment plans to boost the purchase inclination of home buyers.

Launched in 2020, the Universe project has already sold more than 1100 units so far. The walk-in enquiry data from the sales office indicates a strong demand for both 1BHKs and 2 BHKs. Based on in-depth market survey driven by a leading real-estate research firm**, 53% of tenants prefer partly furnished apartments, and 69% prefer multi-storey buildings. Market trends also suggest that this region has had high sales for 2 BHK but lacked the inventory supply for 1BHK. Universe is well-positioned to fill this supply-demand gap with the upcoming launch of the 1BHK tower. The Hinjawadi belt, already known as a prominent IT hub, is the go-to place with an influx of young families and single people moving into the region due to professional reasons. These young and mostly first-time buyers are looking to invest in enhanced home assets that go beyond traditional real estate. Universe hosts over 40 smart lifestyle amenities that elevate the overall liveability quotient of the residents.

Expressing his views on the launch, Mr. Daniele Russolillo, Deputy CEO & COO, Planet Smart City said,

“We are delighted to launch the 1 BHK fully furnished* apartments at Universe to meet the huge market demand, with several incentives and attractive payment plans to help customers buy their dream home. With the shift in preference and realignment of priorities post-pandemic, residential real estate has witnessed significant demand growth across categories of apartments and projects. The pandemic has been a catalyst to shift preference for ‘smarter’ homes and projects that are digitally empowered with tech-infused amenities. Compact and fully furnished houses are popular with the young professionals and investors who are looking for great investment opportunities. “

Adding to it, Mr. Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “The residential demand in Pune has been significant over the course of last three years. Moreover, township and gated communities have fuelled the momentum for high sales and registrations. Life Republic is our flagship township project spread across 390 acres and the Universe is an effort to build a smart community that offers state-of- the-art solutions aimed at reshaping residential dynamics in Pune. We have witnessed a strong demand for 1 BHK in Hinjawadi and this new development within Universe will enable buyers in the region to opt for smart properties. Moreover, with this new inventory, Kolte-Patil Developers aims to increase the overall 1BHK portfolio in the region to cater to a larger pool of customers”.