2. INTRODUCTION
Magarpatta City is a new Real Estate development
model, conceptualized by Mr. Satish Magar which
involves the concept of Integrated Township.
In this model, rather than acquiring the land for
development, which is a tedious process, farmers were
made equitable partners in the project.
With the help of this model, around 120 farmers pooled
in their lands along with Magar and a land corpus of 400
Acres for development was generated.
Farmers were given a stake in the company, according to
the land held by them.
3. DETAILS OF THE PROJECT
Project Name: Magarpatta City: Integrated Township
Total Developed Area: 400 Acres
Project Cost: 1800 Crores
Architects/Planners: Hafeez Contractor
Incorporated Residential Buildings: 1,2,3,4- BHK Flats,
4BHK- Bungalows, Row Houses.
4. Incorporated Commercial Spaces: Cybercity IT Park,
Megacity Mall, Other Office Spaces.
FSI Available: 0.8 ( 2 in case of IT Park )
Total Dwelling Units: 7500 (5000 Occupied)
Expected Population: 60000
Planning Philosophy: “Walk to Work, School, Shop”
Certification: ISO 9001:2000
7. DEVELOPMENT PHASES
Sr.N
o.
Name Type Remarks
1 Erica 3/2-BHK: Row
Houses
1100-
2000 Sqft
Area
2 Grevillia 2/3-BHK Flats 870-950
Sqft
3 Heliconia 1 BHK Homes 600 Sqft
1 Roystone
a
2/3-BHK Flats 940 Sqft
Area
2 Acacia
Gardens
Bungalows 5000 Sqft
3 Daffodils 2/3-BHK Flats 1120 SqFt
Sr.N
o.
Name Type Remarks
1 Iris 2-BHK:
Homes
940 Sqft
Area
2 Mulberry
Gardens
Bungalows 4750 Sqft
3 Jasminium 2/3-BHK
Flats
1500 SqFt
PHASE:1 PHASE:2
Note: All Built Up Areas
Current Property Rates in Apartments: 4100~4750 Rs/Sqft
Current Property Rates in Bungalows: 5800- 6500 Rs/Sqft
8. DEVELOPMENT PHASES
PHASE:3 PHASE:4
Sr.N
o.
Name Type Remarks
1 Cybercity IT Park 6770 Sqft
2 Mega Mall Retail Mall 5.25 Lakh
Sqft
3 Pentagon Office Spaces 5000 Sqft
Spaces
Sr.N
o.
Name Type Remarks
1 Trillium 2/3-BHK
Flats
1100 Sqft
2 Sylvania 2/3-BHK
Flats
1300 Sqft
3 Laburnum
Park
3/4-BHK
Flats
2000 Sqft
4 Zinia 1 BHK Flats 550 Sqft
Phase-3 included the commercial space development in the city.
Phase-4 included the construction of luxury life spaces.
Rates were calculated According to 4000 Rs/Sqft and all MSEB, Stamp Duty
Etc. was to be paid additional to that.
One time maintenance of 2-3 Lakh was to be paid.
9. BACKGROUND OF NEED
The Magarpatta area is part of the Pune Municipal
Corporation from 1960 onwards, even though it was in
the agricultural zone.
The 1982 draft development plan showed it as future
urbanization zone. Under the Urban Land Ceiling Act,
the government could easily acquire this land.
After 1987, a lot of farmers started selling small plots of
land to developers. The government had no mechanism
to stop it, no will to demolish it.
10. BACKGROUND OF DEVELOPMENT
Satish Magar, was holding approximately 100 acres of
land and agriculture was not proving very profitable.
He thought of the following development options for
the land:
Heavy Industries ( Not Acceptable as within City
Limits)
Bungalows/Villas etc, but was not very profitable.
Golf Course.
But in 1993, he thought of developing a township on his
and surrounding land.
11. BACKGROUND OF DEVELOPMENT
Acquiring land from the farmers as mentioned before is
a very tedious process and will present a lot of
obstructions.
But S. Magar thought that instead of acquiring the land,
he thought of making the farmer’s investors in the
project giving them equity shares in the company.
He created a consensus between the 120 farmers and
they decided to pool their 400 acres of land.
Each farmer would get shares equal to the land pooled.
Magarpatta City and Construction company was formed.
12. PROCESS FOR PERMISSION
Proposal was
presented before
Pawar who
supported the
idea.
But Mr. DT Joseph
(Urb.P) said that
agricultural land
could not be used
for Residential
Construction.
They started a
special process to
Acquire permission
to develop a
township.
13. PROCESS FOR PERMISSION
Project Report was
submitted to the TP
Dept, Municipal
Corporation for
Clearance
On the basis of that
the Government
had to give
notification of
development.
Public Hearing was
then done and final
permission was
granted
A lot of support was garnered, because they presented the project
as a tool to curb the unorganized growth of the Pune City.
14. PLANNING CONSULTANCY
For planning of an integrated township they studied
various historical Indian town planning schemes.
Suggestion were taken from various architects. Finally
the project was given to Hafeez Contractor for planning
and architectural aspects.
They appointed Dr Prakash Hebalkar as there consultant
on the IT Park.
15. FINANCING FOR THE PROJECT
Construction
Expenditure
initially needed
was 2 Crores.
Thereafter
the Financing
was needed
to be raised
for
subsequent
phases of
Development.
Final
Financing
Amount or
the total
project cost
to be raised
was in tune
of 1800
Crores.
16. FINANCING RAISED FOR THE PROJECT
1.
• Initial Finance was given by HDFC, after meeting and
discussing the project with Mr. Deepak Parekh.
• He gave finance for the initial small housing schemes.
2.
• Thereafter the Finance was raised from the finances
generated due to booking/selling of the apartments
and other housing projects.
3.
• As the project started to become successful, more
finances were made available by HDFC for the project.
• Approximately 65% of the financing was done by HDFC.
17. UPLIFTMENT IN FARMER’S FINANCIAL
CONDITIONS
Equity Shares were given worth 100 Rs. F.V to each
farmer according to the land pooled in by him/her.
The Share price is now close to 1000 Rs. So we can
say that the farmers have got tremendous profit on
their investment already.
3.5
3
2.5
2
1.5
1
0.5
0
Land Price (In Cr)
2000 2008 2010
Land Price
1400
1200
1000
800
600
400
200
0
Share Price
2000 2008 2010
Share Price
18. UPLIFTMENT OF THE FARMERS
Those farmers which wanted to sell off their shares,
were allowed to sell them to other members only.
In lieu of the shares sold, the farmers had an option to
buy apartments in the township.
Most of them, rented out the apartments and are at the
moment able to generate rents between 6000-11000
Rs/pm/apartment which will make them financially very
independent.
19. FARMERS IN DECISION-MAKING
Second generation of Farmer families were being
actively involved in the decision making process for the
general company strategy and operations.
Many of the farmer sons were sent to reputed
engineering colleges on the account of the company and
were directly employed within the township for various
purposes.
All partners were eligible for loans at low interest rates
for various purposes.
26. CYBERCITY
over 6 million Sq.ft of high
quality modular space
Offering software development
enter as well as business
center.
Including 120 acre garden.
Educational and recreational
facility.
Bordered around 25 acre
garden and located in the
lush green oxygen zone.
27. MEGACENTER
Area 5.25 lakhs square feet
parking space for 800 cars and
1000 2 wheelers
Hi-speed elevators
Banking and 24 h ATM Facility
4 them cafeterias and restaurants
28. HEALTH CARE
250 bed multi- specialty,
Multi-disciplinary Nobel hospital.
Provide best healthcare to every
Section of society with rural
care by Eminent medical
professional
29. GYMNASIUM
World class gym
Swimming pool
Yoga and meditation
Centre
Golf clubs
Aqua sports complex
Shopping and
Entertainment center
30. TARGET MARKETING
These apartment are mainly targeted for upper middle
class society of Pune
Upper middle class society constitutes about 25%
prospective buyers of apartments.
People who works in IT park of Magarpatta city
31. UNIQUENESS OF THE PROJECT
Integrated marketing with nature
Farmers become shareholders & entrepreneurs while
developing there land for others.
For the first time “walk to work, walk to school”
concept.
A complete city within city.
