Author name: dreamspersqftmagazine

Festive Interior Tips for a Bright and Beautiful Diwali As the festival of lights approaches, it’s the perfect time to refresh and illuminate your living spaces to reflect the joy and prosperity that Diwali symbolizes. Whether you’re a homeowner, a real estate professional, or a property investor, creating the right festive ambiance can enhance the appeal of your property. Here are some interior tips that can make any space feel warm, inviting, and perfect for celebrating Diwali. Let There Be Light Diwali is synonymous with lighting, and the right illumination can instantly transform the mood of a home. Consider a combination of traditional and modern lighting fixtures to brighten your interiors. Use fairy lights, lanterns, and candles to create a soft, ambient glow around windows, doorways, and balconies. Opt for decorative diyas and scented candles in brass or silver holders for an elegant touch that reflects the festive spirit. Rangoli Art for a Vibrant Welcome A timeless tradition during Diwali is creating a rangoli at the entrance of your home. Bright colors and intricate patterns add vibrancy and symbolize positivity. To make it stand out, use natural elements like flower petals, colored rice, or eco-friendly dyes. For a modern twist, use stencils or pre-made designs to craft beautiful geometric patterns. A well-designed rangoli not only makes a statement but also offers an inviting touch to anyone entering your home. Festive Furnishings Diwali is the perfect time to update your home with festive textiles. Swap out your regular cushions, curtains, and bed linens for rich, vibrant colors like royal blue, deep maroon, or golden yellow. Fabrics such as silk, velvet, and brocade add a luxurious feel, while ethnic prints and embroidered designs enhance the festive aura. Adding throws and cushions with metallic accents or zari work can also elevate the look of your living room or bedroom. Floral Arrangements Nothing brings the beauty of nature indoors like fresh flowers. Use marigold garlands, roses, or jasmine to adorn doorways, staircases, and mantles. Fresh flowers not only add color but also a fragrant freshness to the home. You can place flower bowls filled with floating candles or use vases with festive blooms in your living space to instantly brighten up the room. Statement Décor Pieces Diwali décor is all about blending tradition with modern style. Introduce statement pieces like brass lamps, intricate wall hangings, or vintage artwork to bring an opulent touch to your home. Look for traditional accents like idols of Lord Ganesha or Lakshmi, bells, or antique mirrors that add both spiritual and aesthetic value. Declutter and Cleanse Lastly, one of the key traditions of Diwali is deep cleaning and decluttering your home to welcome new beginnings. A neat and organized home allows positive energy to flow freely. Use this opportunity to get rid of old or unused items, rearrange furniture for better flow, and bring a sense of calm and order to your living space. By incorporating these simple yet effective interior tips, you can make your home festive-ready, enhancing its appeal and creating a warm, welcoming environment for guests and family alike during this joyous Diwali season.   Ar. Manish Dagade Founder of WEAVER INTERIOR Contact No. +9198501 48768

Quick Guide to Funding Options for Real Estate Developers A Real Estate Developer needs funding at various stages and purposes during the development of the project. This article is a quick guide to facilitate fund raising by Developers. Why & When would a Developer need money? It is important to note here that you should not just to get the money, but to get it at the right time! Any issue in raising money of a previous stage directly affects the later stage. E.g. Cash flows from sales cannot start till there is RERA registration and that is dependent on sanction of plans. So even though you may have buyers ready with cash, since you could not arrange funding for a previous stage, there was a cash flow issue.  Also it is to be noted that, as per RBI guidelines,  Banks cannot directly provide loan  for buying Land. What are the funding options for the Developer? Now, let us look at the positives and negatives between Debt & Equity options Loans Positives Can be secured by providing security and sufficient collateral Relatively lower cost than equity funding No need to share profits with the Lender Negatives Limitation on the amount which can be raised In case of slowdown, repayment of principal and interest becomes a burden Bank does not share Project risk Equity Positives Investor shares the risk of the Project Enables Company to raise additional Debt Funding Market perception of companies having equity financing is generally better Negatives Relatively high cost of capital over a long period of time. Private equity needs exit avenues over a period of time. Additional compliance requirements and public scrutiny of companies accessing public markets. Would want to get involved in some key management decisions. How should you evaluate your funding options? Before taking funding, you should compare the impact of various avenues of funding in with distinct parameters.   CA Vinit V Deo Posiview Consulting Partners Pvt Ltd

Tips for Women Home Buyers: Illuminating Your Path to Smart Investments Buying a home is one of the most significant investments you can make, and for women, the journey can be especially empowering. As more women step into the real estate market, it’s important to make well-informed decisions that align with both personal and financial goals. Whether you’re a first-time buyer or looking to expand your portfolio, here are some essential tips to help you navigate the bright future of homeownership. Define Your Priorities Before diving into property listings, take time to reflect on your lifestyle and long-term goals. Are you seeking a family home, a place near work, or an investment that will appreciate over time? Clarifying these needs will help you narrow your search and prevent impulse decisions. A home is not just an emotional choice but also a financial commitment, so ensure it fits your vision of the future. Understand Your Financial Health A clear understanding of your financial standing is crucial. Begin by checking your credit score and assessing your savings. Most lenders require a minimum credit score to qualify for a mortgage, and the better your score, the more favorable the loan terms. Also, factor in the down payment, closing costs, and additional expenses like taxes, insurance, and maintenance. Create a budget that accounts for these costs to avoid stretching your finances too thin. Research the Market Knowledge is power in real estate. Take the time to study the current market trends in the areas you’re interested in. Explore property values, growth potential, and neighborhood amenities such as schools, public transportation, and shopping. A well-researched decision can help you buy in a location that not only meets your needs but also increases in value over time. Consider Long-Term Investment Value Real estate is one of the few assets that can appreciate in value if chosen wisely. Think about how your property will serve you not just now but in the future. Will it grow with your family? Could it be a rental property later? Does the area have development plans that might boost its value? Make sure you are investing in a property that can provide both comfort and financial returns. Work with a Trusted Real Estate Professional Navigating the complexities of real estate is easier with an expert by your side. A real estate agent who understands your needs can provide invaluable insights into the best deals and guide you through negotiations. Choose someone who listens to your priorities and keeps your best interests at heart. In this era of illuminated opportunities, buying a home can be a bright step towards financial independence and security. With careful planning, smart research, and the right guidance, you can confidently invest in a future that shines. Deepashree Pawar Real Estate Advisor

Pataleshwar Cave Temple: Timeless Inspiration for Modern Real Estate As we explore the future of real estate in “Illuminating Homes and Investments,” it’s vital to recognize how ancient architecture influences today’s design innovations. One such example is the Pataleshwar Cave Temple in Pune, a symbol of timeless architectural excellence and enduring principles. A Glimpse into History The Pataleshwar Cave Temple, carved from a single basalt rock in the 8th century, stands as a testament to India’s architectural heritage. Dedicated to Lord Shiva, this rock-cut structure demonstrates the brilliance of early Indian engineering. The temple’s attention to detail, harmonious integration with nature, and use of locally sourced materials reflect values that still resonate in today’s construction industry, where sustainability and durability are key priorities. Lessons for Modern Architecture In an era of rapid urban development, Pataleshwar serves as an example of creating long-lasting, eco-friendly structures. The temple’s natural insulation and passive climate control—achieved through rock material—offer lessons for sustainable building practices. Modern architects can draw inspiration from this ancient temple, incorporating natural materials and eco-conscious design principles into homes that are energy-efficient and environmentally harmonious. Designing for the Future The future of real estate is about combining modernity with lessons from the past. Pataleshwar’s simple, open layout and the natural light flowing through its courtyards have inspired contemporary design trends. Today’s luxury homes and sustainable projects often mirror these ancient design concepts, blending indoor and outdoor spaces while emphasizing natural beauty and comfort. Building for Generations Like the Pataleshwar Cave Temple, which has sheltered generations, today’s real estate developments aim to create spaces that leave a legacy. Whether through smart homes or green buildings, the focus is on long-term durability, sustainability, and community-driven designs. This forward-thinking approach ensures that modern homes, like ancient temples, can stand the test of time while fulfilling both practical and spiritual needs. Conclusion: Foundations for a Bright Future The Pataleshwar Cave Temple reminds us that great architecture endures through thoughtful design and a deep connection to the environment. As we build the future of real estate, let us apply these timeless lessons, creating homes that are not only functional but also sustainable and rich in history—true investments for generations to come.   Chaitanya Rohini Raje Explorer & Associate Director DPSF

Illuminating Homes and Investments: Achieve Your Dream Home Interest-Free with Minimal Mutual Fund SIP Contributions “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt In the wealth management industry, we categorize asset classes into several segments, such as Equities, Fixed Income, Cash and Cash Equivalents, Real Estate, and Commodities. Among these, real estate stands as a powerful hedge against inflation, where property values and rental income often rise alongside inflation, preserving the purchasing power of your investment. Historically, real estate has always been a key part of any investment portfolio. Today, modern wealth managers are integrating real estate with financial investments, offering investors a more balanced approach to asset allocation. This strategy combines liquid financial assets and real estate, both of which complement each other for long-term growth. The demand for larger residential spaces has increased significantly, particularly after events like the COVID-19 pandemic. But, can individuals from all income groups afford to upgrade their homes? The answer is YES — with the right financial planning and a balanced strategy for managing both EMIs and investments. Many investors I’ve met post-pandemic are eager to upgrade their homes but hesitate due to the high interest costs associated with home loans. I firmly believe that, with discipline and a sound strategy, you can purchase your dream home without being burdened by interest payments. The Strategy: Build Corpus equivalent to interest component Funding home loan EMIs through mutual fund SIPs (Systematic Investment Plans) requires strategic planning and financial discipline. If you’ve taken—or are planning to take—a home loan, you are likely concerned about the interest payments. However, with a modest SIP contribution, you can recover the interest cost efficiently. In most cases, the interest paid on a long-term loan is significantly higher than the principal loan amount. Let’s consider an example of a 20-year loan at an interest rate of 8.75%. In such a scenario, the interest component is at its highest in the initial years, and it takes about 12 years (146 months) to reach a 50:50 split between principal and interest in your EMI payments. Is there a way to offset this interest burden? YES, there is. You can effectively recover the interest you pay by investing in mutual funds.   By starting a SIP of just 0.10% of your home loan amount in a mutual fund, you can recover the interest costs over time. Let’s take example of Loan amount of ₹ 1 Crore: Home Loan Amount Rs.1,00,00,000 (1 Crore) Interest Rate 8.75% Tenure 240 Months EMI Per Month ₹ 88,371 Interest Payable Rs.1,12,09,057 (1.12 Crore) SIP Amount (0.10% of Loan amt) ₹ 10,000 Total Invested Amount (in 240 months) Rs.24,00,000 (24 Lakhs) Total Corpus accumulated over a period of 20 years considering different returns will be @ 12% p.a. Rs.   98,92,554/- @ 13% p.a. Rs.1,13,32,424/- @ 14% p.a. Rs.1,30,11,660/- @ 15% p.a. Rs.1,49,72,395/- Based on these returns, you can cover 88% to 133% of the interest component of your loan by investing just 0.10% of the loan amount in a mutual fund SIP.  The key to achieving this lies in following fundamental investment principles: Discipline in regular investing Diversification across asset classes Long-term commitment to investments Goal-based planning Avoid timing the market Embrace market volatility as part of the investment journey With this approach, you can turn your dream of owning a home into a reality—without the heavy burden of interest payments weighing you down. Prashant V Wagh Founder & CEO, Goldenbulls Financial Services Pvt Ltd [email protected]

The Future of Building Information Modelling (BIM) in India As India embarks on a massive infrastructure expansion to accommodate a rapidly growing population, the adoption of Building Information Modelling (BIM) is emerging as a crucial tool to improve efficiency and accelerate project delivery. BIM is a digital construction process that uses 3D data to support accurate planning, providing a framework that has already proven effective in many industrialized countries. While India is slowly adopting BIM, particularly in key business and construction projects, there is a need to expedite this shift to meet global standards and improve project outcomes. BIM helps reduce cost overruns and improve planning accuracy. A study by Muchnoor (2021) found that most construction projects in India exceed their budgets by at least 20%, a problem that could be alleviated by integrating BIM into project delivery. However, despite its potential, BIM adoption in India remains sluggish, hindered by a lack of understanding, digital skills, and the high upfront costs involved in its implementation. Many businesses in India are still unclear about what BIM is, why it is needed, and how to use it effectively. Companies, particularly medium and small-scale enterprises (MSMEs), often lack the digital infrastructure and resources to adopt BIM, limiting its use to larger, more forward-thinking organizations. This has led to India lagging behind the global curve in BIM adoption. Looking ahead, the future of BIM in India appears promising. The early adopters of this technology have predominantly been architectural firms, with structural engineering, mechanical, and interior design consultants following suit, though at a slower pace. The potential of BIM, however, extends far beyond these sectors, and there is a growing need for a mental shift among key industry players. Government intervention could play a pivotal role in accelerating BIM adoption. By mandating its use in large-scale projects, or introducing certifications for BIM specialists, authorities could significantly boost its adoption across the country. Standardizing national norms for BIM, along with developing India-specific product catalogues, would also help streamline its implementation and drive wider acceptance. Though BIM implementation may initially increase project planning costs, its long-term benefits outweigh the upfront investment. BIM reduces construction expenses and provides valuable data throughout a building’s life cycle, from concept to demolition. The true value of BIM lies in its ability to offer operational insights, enhancing efficiency and sustainability for years after construction is completed. In conclusion, BIM represents the future of construction in India. The focus should now shift towards harnessing this technology to solve ongoing challenges, both during and after construction. With the right support, India can catch up with the global BIM movement and unlock the full potential of its infrastructure development. ADV. HARSHAL SAVLA (MRICS) Managing Partner – M Realty Chairman – Statistics & Research, CREDAI National TYPE OF WORK Building COMPANIES COLLABRATION IN THE PROJECT Moonap Designer & Engineers LLP ACTORS Virtual Building Studio HOW WAS THE BIM EXEPERIENCE IN THE PROJECT Figure: Observations received from their BIM experience in the project (Source: Studio, V.B. (2019, July)

Illuminating Homes and Investments Through Vastu Shastra Introduction Vastu Shastra, the ancient Indian science of architecture, emphasizes harmony between nature and the built environment. At the heart of Vastu is the concept of energy, particularly the energies emanating from the Earth. Understanding these energies and its flow can deepen our appreciation of how Vastu can enhance our lives for wellbeing, peace and prosperity. In today’s fast-paced world, understanding and applying Vastu principles can significantly impact our homes and investments. Vastu for Investments When investing in properties, Vastu principles can guide you toward making informed choices: Property Type: Residential properties should follow Vastu for better living experiences. Commercial properties should be aligned with Vastu to enhance business prospects. Renovation and Design: When renovating, consider the Vastu aspects to improve energy flow and create a harmonious environment. Small changes, like designing the wall and implementing right colors, can have a significant impact. Benefits of Vastu Compliance Enhanced Well-being: Living in a Vastu-compliant home can lead to improved mental health reducing stress, anxiety and enhance physical health. Increased Prosperity: Aligning your investments with Vastu can attract wealth and financial stability. Positive Relationships: Proper energy flow encourages harmony among family members and enhances social interactions. Sustainable Living: Vastu promotes eco-friendly practices, fostering a connection with nature.  Conclusion Integrating Vastu Shastra into our homes and investments is not just about following tradition, it’s about creating spaces that nurture and support us. By understanding and applying these ancient principles, we can illuminate our lives, for peace & prosperity. Whether you are building a new home or considering an investment, keeping Vastu in mind can lead to transformative experiences that resonate with both personal and financial growth. Embrace Vastu Shastra, and let it guide you toward a brighter, more harmonious future. CASE STUDY – SUCCESS STORY: One of my client’s friend, were renovating their triplex bunglow approached me for vastu consultation. When visited the site, I noticed many draw backs and issues in their life, we discussed regarding these setbacks with clients and to reduce its effects we setup a proper layout plan for their bunglow by vastu corrections for Energy balance with well design interiors & resonant colour themes with energetic landscaping. They meticulously followed our recommendations and renovated their bunglow. They were very happy to experience the positive result within a month, few of the setbacks in their work pattern started resolving with positive outcome yielding them prosperous result     Results and Transformation: After implementing these changes, they noticed remarkable shifts in their lives: Increased Positivity: The new layout transformed the home’s energy. They felt more at ease and connected to their surroundings. Improved Relationships: The couple reported stronger communication and harmony in their relationship. Friends and family also noted the warm and inviting atmosphere. Financial Growth: Within months of renovating in, son received a promotion at work, leading to increased income. Health Benefits: They both experienced improved mental clarity and reduced stress levels, attributing this to the positive energy flow in their home.   Conclusion: The Clients family journey demonstrates the profound impact of following Vastu principles and harnessing earth energies. By aligning their living space with nature’s energies, they created a harmonious environment that fostered personal and professional growth. Their success story serves as an inspiration for others. Mrs. Roopashri P. Betjewargi  MSc. MPhil (NeuroEndocrinology) Awarded: Master of Occult Sciences  At DivineGrace, we blend the ancient wisdom of Scientific Vastu Shastra, Astrology, and innovative techniques in Building Biology, Earth Energies, and Vibrational Healing to create spaces that resonate with your personal energy.  With over 14+ years of experience and 1,000+ projects completed worldwide, we have conducted 900+ case studies & many Researches, earning recognition as Masters of Occult Sciences. We provide online and offline consultations for national & international clients. Note: Vastu is an valuable investment not a cost MRS.ROOPASHRI P. BETJEWARGI MSc. MPhil, Astro – Vastu Conultant, Divine Grace, Pune Website: www.divinegracerealms.com,  Email: [email protected]  9372121950

Biophilia: Reconnecting Our Urban Lives with Nature Since the Industrial Revolution, humanity has made significant strides in technological advancement. Our urban and digital world is constantly evolving, but one question lingers: Who defines “progress”? Is it truly progress if we compromise our planet? Is development worth the toll on our mental health and quality of life? At Ecogreen Landscape Technologies India Pvt. Ltd. (affectionately known as ELT India), our mission has transformed over more than three decades in the landscaping and vertical gardening industry. While we may not have started with the vision to enhance lifestyles, we now believe that this is the core of our work. ELT India is synonymous with innovative and sustainable greenery. We have developed four patented systems to create effective solutions for integrating greenery into vertical spaces. As of March 2024, we’ve completed over 250,000 square feet of green walls and more than 200,000 square feet of green roofs across 55 cities in seven countries. Our prominent projects include the Kempegowda International Airport Terminal 2 in Bangalore, the HDFC Bank Headquarters in Mumbai, ITC Kohenur in Hyderabad, ONGC in Dehradun, and Expo 2020 in Dubai. While we’ve focused on improving air quality through greenery in urban environments, we also care deeply about the quality of life for those living within these spaces. In 2021, leveraging our extensive horticultural expertise, we launched Biophilia, our experiential garden center designed to foster a connection between people and nature. “Biophilia” translates to “the love for all things living.” It reflects our innate connection to the natural world. We all find joy in nature in different ways—some are drawn to its vibrant colors, others to the soothing sounds of water, while many appreciate the beauty of changing seasons and diverse textures. In our fast-paced digital society, we often disconnect from nature, and bridging that gap is our mission. We aim to make this connection more accessible. Gardening and plant care are no longer exclusive to those with spacious homes; you can cultivate your own garden on a balcony, terrace, or even a small corner of your study. We call these green pockets “Biophilic Spaces,” and they are our specialty. With our expert consultation and execution services, we transform interiors through office and balcony gardening, providing ongoing maintenance to ensure your green areas thrive.  Our collection features over 200 diverse plant varieties, alongside decorative planters crafted from ceramic, metal, terracotta, and fiberglass. Moreover, our proprietary soilless potting mix simplifies the gardening experience like never before. Its unique composition ensures plants receive the right balance of moisture and air at their roots. It retains more water, holds unused nutrients for later use, and reduces water usage and labour for plant maintenance. This sustainability and efficiency helps users save time and resources while promoting healthier plants. We are committed to introducing a green lifestyle to everyone. In addition to our garden center, we launched our very own Plant Truck in 2023, bringing our products and services directly to your doorstep. Today, we urge builders, architects, and interior designers to incorporate greenery into their designs. Join us in creating green pockets to elevate our quality of life by reconnecting with nature—one plant at a time.

The Most Awaited Underground Section of the Pune Metro: Shivaji Nagar to Swargate The inauguration of Pune Metro’s underground section, connecting the District Court to Swargate, represents a landmark achievement in the city’s evolving transportation network. This critical stretch was officially opened on September 29, 2024, following the launch of the Shivaji Nagar and District Court underground stations on August 1, 2024. The first underground metro in Maharashtra. The underground route comprises two parallel tunnels for metro trains, both up and down. To accomplish the 6.08 km tunneling work, three state-of-the-art Tunnel Boring Machines (TBMs) were deployed, named after Pune’s iconic rivers: Mula, Mutha, and Pavana. Each time a TBM completed its segment of tunneling and broke through into a station shaft, the milestone was celebrated as a “Breakthrough” – a major feat in the project’s timeline. This newly inaugurated underground section is set to dramatically ease traffic congestion, provide faster transit, and enhance public transportation in Pune, offering a modern solution to the city’s growing urban mobility needs. Salient Features of Underground Section:  Shivaji Nagar Metro Station: The First Underground Metro Station from the Northern end of the North-South Corridor. The facade of the metro station has been inspired by heritage Maratha architecture and elements, especially those which were seen in Pune. The core idea of the design is to connect the public to the Puneri heritage taking them back to their roots and culture. The 300-meter stretch is envisaged as an open art gallery to the public. The design will consist of various elements like Deep mal, Puneri arches, frescoes, heritage columns, moldings, window patterns, and jali walls. The structure will majorly consist of basalt stone cladding, stucco plaster, artwork, and other heritage elements. The station is planned with Multi-Modal Integration. The stations’ entry/exit is integrated with Shivaji Nagar Railway station, PMPML & MSRTC bus depots, and the Hinjewadi metro line. Shivaji Nagar underground station is 200 meters away and located under the road connecting  Sakhar Sankul to Akashwani Bhavan (AIR). Station-related buildings are coming up at the road level in 200X20 meters area. The road dug up for UG station, will be restored. The Pedestrian subway network connects the old Mumbai-Pune Highway at Akashwani (AIR) Pune & Shivaji Nagar railway station. The two subways are proposed to increase the reach of the metro station. One of the subways leads towards Shivaji Nagar Railway station and another to interchange entry/egress at Dr.Kapote Junction. Kasba Peth (Budhwar Peth Station): The Third Underground Metro Station.  The station consists of a central Shaft constructed by a typical Cut & Cover method. The shaft is connected with 2 tunnels, constructed by NATM methodology, on either side for catering to Platform of Budhwar Peth Station.The station is constructed without infringing existing adjacent residential buildings. The Station is located close to Pune’s Heritage Structure i.e. Shaniwar Wada and Pawale Chowk, also close to the old Pune peth areas. The station design includes 2 Entry/Exits. Out of the Two Entry/Exits, One entry/exit connects the Main Station Building at M1 Level through a subway. The second Entry/Exit opens at the Ground Level of the Main Station. Swargate Station The location of Swargate is one of the central nodes for people commuting to Pune from various surrounding regions. The Development of Swargate Station is planned for the integration of various modes of transport, i.e., Metro, PMPML and MSRTC at one place. Swargate underground station is the Terminal Station on the North-South Corridor of Pune Metro. The station is constructed with a typical Cut & Cover method consisting of Platform level, Mezzanine, and Ground level. The station design includes 5 Nos of Entry/Exit. The current operational entry is from Satara roadside. Passenger movement flows from ground level to lower ground level then to upper concourse level and to concourse level. The platform level can be accessed by lift, staircase, and escalator. Future connection is planned via subway to connect MSRTC and PMPML terminus to give pedestrian access as a multi-modal hub. Further, it will extend to connect with Ganesh Kala Krida Manch (Cultural Center) via Subway. This Station also has pick/drop off lanes designated at the entry/exit points. External development includes pedestrians, cycle tracks, motor vehicle paths etc.  Salient Features about the stretch – Shivaji Nagar to Swargate (Complete UG):  The underground metro system will navigate through some of Pune’s most historically and culturally significant areas, playing a crucial role in preserving and enhancing its legacy. These neighborhoods, deeply rooted in Maratha history, are among the oldest and most densely populated in the city. They serve as living museums, where every street and building tells a story of Pune’s rich past. At the heart of this region are the Peth areas, which have long been the epicenter of Pune’s cultural and religious life. These bustling neighborhoods are not just residential hubs but also thriving centers of commerce. The Peths house one of the largest and most vibrant marketplaces in Pune, where a diverse array of artisans and business owners, from small-scale craftsmen to established enterprises, contribute to the city’s economy. These markets are a microcosm of Pune’s dynamic spirit, blending tradition with modernity. The underground metro in these areas is more than just an infrastructure upgrade—it’s a lifeline that will ensure these historic neighborhoods remain accessible and economically vibrant. By improving connectivity, the metro will enable more people to experience the rich cultural tapestry of these areas, from their ancient temples and monuments to their lively festivals and daily markets. It will also support the local economy by providing artisans and business owners with easier access to a wider customer base, fostering economic growth while maintaining the unique character of the neighborhoods.  The Metro line here will reduce the traffic load and congestion in these areas and will help people from Pune and Pimpri-Chinchwad city to reach the heart of the city effortlessly and timely. Swargate is going to be a multi-modal transport hub with PMPML and MSRTC, Metro, a multi-layer transport system at Swargate metro station. 

MahaRERA impact on the Real Estate/Construction Business and impact on common people The housing and construction industry plays a critical role in India’s development and economy, being the second-largest employment generator after agriculture. With a population of 1.4 billion, housing holds immense socio-economic significance. The real estate sector contributes 6-7% to India’s GDP, expected to increase to 10-12% in the next five years. The landscape of housing has evolved significantly in the last decade. Homebuyers, once in their mid-40s and tolerant of project delays, are now younger, educated, and more demanding, typically in the 25-35 age group. This shift necessitated stronger regulations to ensure transparency and accountability. In 2016, the Government of India introduced the Real Estate (Regulation and Development) Act (RERA), with Maharashtra establishing MahaRERA in 2017. MahaRERA has transformed the real estate sector by enhancing transparency, financial discipline, and customer-centric practices. Homebuyers now enjoy better protection, access to comprehensive project details, and faster dispute resolution. This shift is evident in the reduced complaints for projects launched post-RERA, with only 3.5% of complaints against these compared to 23% for pre-RERA projects. Key measures adopted by MahaRERA include mandatory public access to detailed project information, a requirement for developers to deposit 70% of funds into a dedicated account to prevent misallocation, and increased emphasis on timely project completion. Developers face penalties for delays, while homebuyers are also accountable for timely payments. Additionally, the introduction of a model agreement and non-negotiable terms protects buyers’ interests. To further empower homebuyers, MahaRERA is working on a grading system to help them assess projects more easily. RERA has had numerous positive impacts on the real estate sector. It ensures timely project completion, safeguards against fund mismanagement, and improves construction quality by holding developers accountable for defects for up to five years. The industry has become more organized and disciplined, with developers adhering to stricter compliance requirements. This has also led to increased foreign investment, particularly from NRIs, thanks to greater transparency and credibility. Despite its benefits, the real estate sector still faces challenges, particularly in accessing affordable finance. Developers pay higher interest rates compared to other industries, which adds to the cost burden ultimately passed on to consumers. Additionally, the complexity of real estate, with its reliance on multiple approvals and regulations, means that further reforms are necessary to ensure that all stakeholders, including approving authorities and financial institutions, are held accountable. Overall, RERA has significantly improved the safety, transparency, and efficiency of real estate investments, creating a more secure environment for homebuyers. With continued development and the inclusion of all stakeholders, the future of real estate in India looks promising, with enhanced consumer confidence and a more organized, transparent industry. Kapil Gandhi First generation developer & MD, Sigma One Universal