The real estate segment in Pune is always buzzing with activity. Pune real estate is known to evolve the trends in the housing segment in West India. Residential real estate is thriving because of the student population, while commercial real estate is abuzz because of IT companies. Pune’s private property developers along with the Pune Municipal Corporation (PMC) have contributed significantly to the growth and improvement of the city’s infrastructure.
Now the PMC is making efforts to encourage private builders and individual builders to think green buildings. The PMC has come up with an elaborate plan called ‘Green Pune’ which will encourage Pune residents to think about green measures to build energy efficient buildings, treat rubbish efficiently and plant trees.
In fact, the Auto Cluster Development and Research Institute Limited (ACDRIL) building may be the first ‘green building’ in Pune. The construction of this building is in progress and will be completed by the end of 2008. Sources say that the car pool building will use sunlight for most of the lighting of the day. Additionally, architectural features such as natural ventilation will be considered upon completion of construction.
Pune Real Estate Builders claim that they want to minimize electricity usage for lighting and air conditioning. ACDRIL developers are seeking green certification from the US Green Building Council.
This building is being jointly promoted by the Mahrashtra Chamber of Commerce, Industries and Agriculture (MCCIA) and the Pimpri-Chinchwad Municipal Corporation (PCMC). This will involve an investment of Rs 118 crore.
Pune, better known as the Oxford of the East, is home to thousands of students and young professionals. Many turn to hostels and paid guest accommodation, while others look to buy serviced apartments in Pune.