Kumar Realty unveils phase 2 of Magnacity
Pune : Kumar Realty; a prominent real estate developer from the city while celebrating 60 years in the business has unveiled phase 2 of ‘Magnacity’, a 140 acre state-of-the-art township being developed at Manjri on Pune – Solapur highway. This was announced by Manish Jain, Chairman and Managing Director, Kumar Realty during a Press Conference held in the city today. Maithily Jain, representing the fourth generation of the Jain family, was also present on the occasion.
Commenting on the location advantage of ‘Magnacity’, Manish Jain said, “Magnacity is located in Manjri, one of East Pune’s fastest developing neighborhoods, offering convenient access to leading IT hubs including EON IT Park, SP Infocity and Cybercity, while benefitting from the proposed Purandar International Airport, Ring Road, Multi-Metro connectivity and the upcoming Bullet Train Corridor.”
The phase 2 of Magnacity, will consist of homes with serene, panoramic views of the amenities & central greens with 2 and 3 BHK options in an approximate range of Rs.73 Lakhs to Rs.1 Cr. On the occasion of Kumar Realty completing 60 years in the real estate sector a special price benefit up-to Rs.3 Lakhs is being offered to the home buyers.
This 140 acres township will have about 22-25% green, landscaped open spaces with a grand club spread across 1 Lakh Square feet that will house a swimming pool, banquet hall, restaurant, guest room, gym and mini theatre.
The township will have good network on internal roads, a retail high street, restaurants and cafes, schools, hospital, fire station and a Police station. Some other amenities which would be developed at Magnacity include a football pitch, tennis court, kids play area, floor games, skating rink, verdant sit outs, senior citizen park, outdoor gym area and a yoga lawn.
Commenting on the future Manish Jain said, “With the launch of Magnacity Phase 2 and a strong pipeline of projects across multiple locations, Kumar Realty is set to play an important role in shaping Pune’s next phase of growth. Our focus will continue to be on high-mid-income, luxury residential apartments catering to the large IT community – including CEOs, MDs, finance professionals, and software engineers. The goal is to understand the market, cater to its needs, and deliver at scale. Our target is to deliver at least 2,000 apartments annually across Kumar Realty projects in this segment across the city.”
Speaking during the press conference Jain stressed upon the need to have better infrastructure to improve the traffic condition so that Pune becomes the first choice for the GCC to setup their offices. Efficient public transport like metro and city bus along with good road conditions would be of paramount importance.
Founded in 1966 by Kesarimal and Vimalkumar Jain, till date Kumar Realty has successfully completed over 140 real estate projects spanning the development of about 36 million square feet and has delivered homes to 42000 families. From the humble beginning with rental housing the company successfully carved its niche in residential projects, commercial and IT parks before getting into the development of integrated townships like Megapolis and Magnacity. The company also spread its wings to Mumbai and Bengaluru with iconic residential projects. It has received many accolades for its outstanding work in the field of real estate.