Vascon Engineers launches 2 projects in Pune

Pune: Real estate group Vascon Engineers will invest Rs 165 crore in a high-end residential and commercial complex over next 18 months in Baner.

Willows, a blue-chip residential project, and Eco tower, an office complex designed to be “green” right from the inception stage.

Talking to presspersons, Mr R. Vasudevan, the company’s managing director, said the first phase of Willows would have 80 flats, ranging from 2,500 sq ft to 3,000 sq ft, and some penthouses of 6,000 sq ft.

Already, 65 per cent of the flats have been booked before the formal launch, which took place on Wednesday. All the bookings were by end-users, he said. In Willows, each floor would have two apartments, and a private garden would be made available to each apartment.

“The focus is on providing a green island of luxury and peace within easy reach of Hinjewadi IT Park and the Pune-Mumbai Expressway. This is our fourth project in Baner after Paradise, Paradise Towers and Eves Garden,” he said.

The first phase of Willows, construction for which has begun, would be over Rs 100 crore, and the project would be ready by end-2009. The second phase, to be launched after nine months, will consist of three towers of 25 storeys each, for which the Permissions for this are expected to come through in the next few months.

It would be built over 18 acres, with 75 per cent open and green spaces, because of podium parking. The cost of the Willows project, including the third phase, will be in excess of Rs 400 crore.

Mr Vasudevan said Eco Tower would be close to Willows and have 80,000 sq ft of built-up space on a two-acre plot, with greenery, open spaces and podium parking. At current prices, it would be a Rs 65-crore project, for which bookings started on Wednesday. Construction has begun and the building would be ready in 18 months.

Mr Vasudevan added that they are also doing a customised green building for Suzlon.