Advertising hoarding of Asian Realty's Riva project near NIBM Road, Pune

Riva by Asian Realty, NIBM Road – Project Overview, Analysis & Status Review

Last updated on April 28, 2017 by Manish Kumar

South Pune has, in recent years, emerged as one of the most sought after housing destinations in the western metropolis of Pune. This part of the city, which till the turn of the millennium, was known for its villages and hills, is today a booming area, with new projects coming up every other day and their hoardings dominating the roads and streets. The most preferred areas include Kondhwa, NIBM Road, Undri and Pisoli, which have projects by some of the biggest names in real estate. Among the projects next to NIBM Road is Riva by Asian Realty. Asian Realty is one of the upcoming developers in Pune and apart from this city, it has projects in Bangalore and Mangalore as well. I visited the site of Riva and spoke to the project team to get an understanding of the same. Riva: Location & Connectivity Riva is a short drive away …

Riva by Asian Realty, NIBM Road – Project Overview, Analysis & Status Review

South Pune has, in recent years, emerged as one of the most sought after housing destinations in the western metropolis of Pune. This part of the city, which till the turn of the millennium, was known for its villages and hills, is today a booming area, with new projects coming up every other day and their hoardings dominating the roads and streets. The most preferred areas include Kondhwa, NIBM Road, Undri and Pisoli, which have projects by some of the biggest names in real estate. Among the projects next to NIBM Road is Riva by Asian Realty.

Asian Realty is one of the upcoming developers in Pune and apart from this city, it has projects in Bangalore and Mangalore as well. I visited the site of Riva and spoke to the project team to get an understanding of the same.

Riva: Location & Connectivity

Riva is a short drive away from NIBM Road and is just off Punyadham Ashram road. The project is not currently listed on Google Maps, hence, one needs to search for Casa Vibrante next door and take the main road in this project, which leads to Riva. While the approach road to the project wasn’t in the best of shape when I visited, it should be ready by the time of possession. Riva is located at a significant elevation compared to Casa Vibrante and one can get a picturesque view of the surrounding green hills as well as the areas of Kondhwa, Undri and NIBM Road from here.

Under-construction approach road to Asian Realty's Riva project near NIBM Road, Pune
Under-construction approach road to Asian Realty’s Riva

While some buses operate near the project, it may not be advisable for prospective residents of the project to use them for commuting particularly at night, as the nearest bus stand is around a kilometer away. Pune Railway Station is 10.5 km from here, while the airport is 17 km away and one can expect a travel time of 45-50 minutes to the latter from here. What does work for this project is its proximity to the major IT hubs such as Magarpatta City (10 km) and SP Infocity (9 km), while others such as Kharadi and Kalyani Nagar are within a 14-15 km radius from here. It’s the spillover demand for affordable yet comfortable homes from IT professionals working in these areas, which is the main target customer segment for Riva.

Riva: Social Conveniences

NIBM Road and the neighbouring area of Undri have seen plenty of development in the last couple of decades and notable among these is the number of service providers, who have their establishments here. One of the areas where residents of Riva have an edge is the education of their children. Some of Pune’s best schools such as Bishops Co-ed School (1.5 km), Euro School (2.5 km), Delhi Public School (3 km), Vibgyor High School (1.5 km)  and RIMS International School (3 km) are easily reachable. Higher educational institutions such as Sinhagad Group of Institutions, Kondhwa (3.5 km) and Trinity Academy of Engineering are within close proximity as well.

Some of the healthcare options available to residents of Riva include Lifeline Hospital (3.5 km), Satyanand Hospital (3.5 km), Ruby Hall Clinic Wanowrie (4 km) and Inamdar Multispecialty Hospital (6.5 km). Malls such as Dorabjee Heritage Mall and Bizzbay Mall, Dorabjee’s departmental store and numerous restaurants are within 3-5 km from the project site as well. Completing the picture are the Corinthians Club and Country Club Undri, offering options for dining, sports and entertainment.

Riva: Site Overview

Riva occupies an area of 1 acre and comprises of a single apartment tower and a separate clubhouse building. The apartment tower has 11 residential levels, with the ground floor and basement earmarked for parking of resident’s vehicles. The apartment tower will have 3 elevators for residents. At the time of my visit, I could see that work was ongoing on the 2nd level of the tower, with the basement, ground and first floors completed. The project is due to be handed over by March 2018.

Site photograph of Asian Realty's Riva project near NIBM Road, Pune
Site photograph of Asian Realty’s Riva

Riva: Apartment Overview

Riva will comprise of 8 residential units per level, making a total of 88 units in all. The units are equally divided into 1 BHK and 2 BHK units, with the corner apartments being 2 BHK and the middle ones being 1 BHK. Prospective residents can choose from a variety of apartment areas: the size of a 1 BHK apartment ranges from 609 – 977 sq. ft., while that for a 2 BHK apartment lies in the range of 993 – 1431 sq. ft. These sizes indicate that space will not be at a premium for residents as their homes will be sufficiently large. The base price of an apartment is Rs. 4,750/sq. ft., which is lower than other projects in the vicinity. One can get a 1 BHK apartment for approx. Rs. 37 lakhs onwards and a 2 BHK apartment for approx. Rs. 62.5 lakhs onwards.

The developer is providing apartments, with specifications similar to those seen in premium projects. All apartments will have premium vitrified tile flooring, while all bathrooms will have Dado all the way up to the false ceiling level. The bathroom fittings will be of renowned international brands, while the terrace will be double-heighted, giving a spacious impression, similar to the apartment itself. 24X7 power backup will be provided in common areas and up to 15 Amp in each apartment, along with piped gas facility. A video door phone and anti-theft locking system will be provided for residents’ safety.

View of surroundings from Asian Realty Riva project near NIBM Road, Pune
View of surroundings from Asian Realty’s Riva

In a 1 BHK apartment, one will enter through a foyer to the living cum dining room, with an open plan kitchen alongside. These apartments will have a single terrace and a common bathroom. A 2 BHK apartment also comes with an open plan kitchen and has an additional dry balcony alongside it. These apartments have 1 common and 1 attached bathroom, with other structural features similar to a 1 BHK.

Riva: Amenities Overview

Riva will have a clubhouse, which will be a separate, standalone building from the apartment tower and host various amenities for residents. Among the amenities planned are an indoor games room, a party room, mini theatre and a swimming pool. Attached to the clubhouse will be a lawn, which can be used for functions or parties and a children’s play zone.

Conclusion

The tagline of Riva is ‘Affordable Luxury’ and looking at the plans and specifications of the project, one can see why this is the case. The project offers comfortable homes with plenty of space for residents and good amenities to boot. Located in a well-connected area with among the best social infrastructure in Pune nearby, it offers an opportunity for an end-user to get his/her dream home at an affordable rate and for an investor to make good returns as the area develops further.

Read more about the project on the developer’s website.




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