TOP 5 AREAS TO INVEST IN PUNE

Pune is a cultural and academic hub of India, attracts students and buyers from everywhere, within the country and abroad. It has been on the intuitive perception for investors for a long time now, giving comprehensive education and employment opportunities.

Pune is often known as the "pensioner's paradise due to its greenery and cold climate." It has seen traction from NRIs and ex-pats who want to own a home for investment in the country.

Pune’s concentric development design, together with its capability to expand geographically along with prominent economic hubs, is driving its real estate market to newer heights. Maharashtra has been a predecessor in the effective implementation of RERA, thus creating positive momentum in the industry and encouraging consumer interest. RERA has been a massive boost for the real estate market in Pune, supported by its new-found transparency and accountability. Further, Pune has emerged as the best-governed city and most facilitated to deliver urban amelioration in an all-India survey performed.

Survey performed by Janaagraha Centre for Citizenship and Democracy

The top areas to invest in Pune, which promises unmatched growth in the future are here:

BANER – BALEWADI

On the western fringe of Pune, Baner has developed into a promising real estate hotspot and a possibility to saturated micro-markets in central Pune. Baner is a destination preferred by end-users looking for affordable homes along with luxury or techies looking for rental options.

Baner connected to neighboring localities through the main road – the Mumbai-Bengaluru Highway and Baner road. The availability of good public transportation allows residents to commute to work without any inconvenience. The Expressway runs at the intersection of the Katraj-Dehu Bypass (NH 4) right next to Baner.

Look out for the following upcoming projects in Baner-Balewadi area

*Kakkad La Vida *Perfect 10 *Gagan Klara *VTP Solitaire *Amar Serenity *Beverly Hills *Kunal Aspiree *Anjor Gold- Luxury segment *Kalpataru Jade *Sterling Tower *Legacy Aeon

Hinjewadi’s development as an IT hub has controlled the rental market of Baner. Some medium-sized businesses and IT parks located in Kothrud and Aundh. Commercial offices like ICC Trade Tower, Nanospace IT Park, and RMZ Westend have attracted IT professionals in large numbers to stay in Baner. Industrial pockets in nearby areas, like Talegaon, Pirangut, and PCMC, further contribute to the growing demand for residential properties in the Baner region, among working professionals. Well-developed physical and social infrastructure are the most significant growth drivers of Baner, making it one of the hottest residential micro-market of Pune.

Pashan borders Baner in the south, Aundh to the north, Balewadi to the west, and Pune University to the east. There is an abundance of options to choose from- apartments, villas, and residential plots and commercial properties. The IT professionals working in Hinjewadi prefer renting in Baner due to the availability of ready-to-move-in stock.

Several prominent developers like Panchshil, Kolte-Patil, DSK ABIL, and Kalpataru have projects offering a wide variety of options in Baner. Looking at the past data, real estate in Baner has provided a good return on investments with prices hiking from Rs 5640/sq.ft. in 2014 to Rs 8250/sq.ft in 2019. Therefore, this typical residential micro-market is one of the safest and sure bets for investors seeking to invest in real estate in Pune.

Few reputed developers of Pune

KHARADI

Along the Mula-Mutha River and green landscapes, Kharadi is in the eastern area of Pune. Kharadi is the newest IT hub of Pune approved by a prospering micro-market with a range of industries, which include hospitals, IT, ITeS, hospitality, retail, and education. It shares a boundary with central locations like Kalyani Nagar, Viman Nagar, Wagholi, Mundhwa, Hadapsar, and Koregaon Park.

Kharadi enjoys excellent connectivity to prime localities through Pune-Ahmednagar Highway, Mundhwa Road, Grant Road, and Fountain Road. Pune International Airport can be accessible in 15 min along with several rail connectivity options like Hadapsar, Pune Junction, Shivaji Nagar, Manjari, and Khadki. The underway Pune metro project will connect Vanaz in Kothrud to Ramwadi near Kharadi.

Kharadi is home to a number of the foremost renowned names within the commercial & IT space, like Magarpatta Cyber City, Kharadi IT Park, the World Trade Centre, EON IT Park, and Cerebrum IT Park. Pune city is well connected to Kharadi and has become the preferred choice for home buyers and has transformed the concept of “Walk to Work” and “Neighbourhood Planning”. .Besides these, there are many other industrial areas like Wagholi, Hadapsar, Ranjangaon, Sanaswadi. Social infrastructure is developed and promoted on a large scale, marking the Kharadi landscape with established healthcare, educational, and retail brands.

Real estate prices have also eventually shot up, but it continues to be affordable for mid-income home-buyers. Kharadi has seen a capital appreciation of 140% during the last decade. From 2700/sq.ft in 2008, it rose to 4500/sq.ft in 2014, and currently, the prices of residential property in this locality are touching Rs 6500/sq.ft.

Residential project rates in Kharadi

Furthermore, many infrastructure projects are advancing, which, when complete, will trigger the residential realty market. Reputed builders such as Goel Ganga Group, Kolte-Patil Developers, Mantri Developers, Godrej Properties, Marvel Realtors, and others have under construction and launched projects in Kharadi. The home-buyers prefer 2BHK and 3BHK apartments in Kharadi.

UNDRI

Undri has transformed from a sleepy neighbor of Kondhwa to a fast-developing suburban area of South Pune, enclosing several industrial and IT hubs. Undri popped up in the real estate picture after immense pressure on land resources was felt on NIBM Road, Kondhwa, and Hadapsar.

One of the essential advantages of investing in Undri is its excellent connectivity to core and fringe areas of Pune, facilitated by substantial roads running through the region. Mumbai-Bengaluru Highway, Mumbai-Hyderabad Highway, Pune-Saswad Road, and NIBM Road are major connecting lines of this region.

The development of planned Pune Ring Road will smoothen and make hassle-free linkages to all parts of Pune. Hadapsar Railway Station and Pune Junction serve rail connectivity and are accessible from Undri in 20-25 min. The Pune International Airport at Lohegaon is a 20 km drive. Greenfield International Airport, proposed at Saswad-Purandar, will be 22 km from Undri but will be an easy commute as Undri will be the nearest developed retail sector.

Magarpatta City, SP Infocity Phursungi, and Amanora Park Town are located within a range of 10 km and has few of the most renowned IT majors. The social infrastructure in Undri is top class with state-of-the-art healthcare and educational facilities that are accessed by people from across India. Large and small-scale industries ranging from automobiles, electronics, biotechnology, chemicals, pharmaceuticals, textile established in the presence of MIDC at Swami Vivekananda Industrial Estate and Hadapsar Industrial Estate in Handewadi.

Pune has been observing a rapid influx of working population from outside the town. As a result, there has been a high demand for residential apartments. Undri is a residential area that offers natural splendor and expansive greenery, for which Pune is famous. It has localities like NIBM, Kondhwa, Hadapsar, Market Yard, Katraj, Wanowrie, Fatima Nagar surrounding it.

The land rates are in the range of Rs 4070 –Rs 6030 per sq. Ft. Home-buyers prefer to purchase property in Undri because it also provides excellent rental income from the floating population. Green landscapes, excellent connectivity, affordable land rates, proximity to commercial hubs, rapidly developing social infrastructure, and upcoming Greenfield Airport, has made Undri one of the blazing residential markets of Pune.

rates in Undri

HINJEWADI

Hinjewadi is a north-western suburb of Pune situated off the Dehu-Katraj bypass. Being the most prominent IT hub in Pune, it makes for an attractive investment option. It is one of the blazing hot realty hubs in the city at present, offering several investment opportunities in mid-range and premium residential projects. It is a proposed center for integrated townships in Pune to relieve congestion in the core areas of Pune and encourage peripheral settlements. Hinjewadi stands out due to its unique location and connectivity to other Pune localities and Mumbai-Pune Expressway.

The area offers excellent connectivity to Bengaluru, Mumbai, and other principal Pune regions via Mumbai-Pune Expressway and Pune-Bangalore Bypass. Pune Airport is at a distance of 25-27 Km via the Hinjewadi-Aundh road. A metro route between Hinjewadi and Shivajinagar recommended connecting PMC, PCMC, and MIDC areas of Pune.

Quadron Business Park, Rajiv Gandhi IT Park, Embassy Techzone, and Blueridge are well-known IT Parks that attract IT professionals from everywhere in India. Hinjewadi has seen skyrocketing commercial development, and other vital industries like manufacturing, pharmaceuticals, biotechnology, IT, and automobiles are flourishing here. Educational institutes like Sinhagad College, Indira College, Pune University, and MIT are nearby. Also, Sahyadri Hospital, Aundh Chest Hospital, and Medpoint are some well-established medical centers here.

Supported by potential future growth and the rising demand for residential property, it is a promising location for investing in Real Estate at this hour. It shares a boundary with Tathawade to the north, and Baner and Bavdhan in the south, Wakad, and Balewadi in the east.

Renowned real estate developers like Kohinoor, Shaaporji Pallonji, Kolte-Patil, Godrej, and Paranjape have big projects in Hinjewadi. The property prices have shown a healthy growth from Rs 4300/sq.ft. in 2014 to Rs 5600/sq.ft. in 2019. In the years to come, they will witness further resistance owing to the availability of Grade-A commercial developments, vast tracts of land, and ever-increasing residential demand.

Rates in Hinjewadi

WAKAD

Wakad is on the north-western fringe of Pune and has emerged as one of the most desired investment hubs in recent times. Developed due to overflowing demand from well-developed localities of Baner and Aundh. Residential suburbs surround it like Akurdi and Chinchwad to the north, Pimple Nilakh, Baner and Balewadi to the south, Pimple Saudagar to the east, and Hinjewadi to the west. The major growth factor of Wakad is the presence of employment opportunities, its excellent road connectivity, and vast tracts of developable land.

Wakad boasts excellent intracity and intercity road connectivity. The major roads in this area are Wakad Road, Wakad-Bhosari BRTS Road, and the Mumbai-Pune Expressway. The Pune Airport is a 50-minute drive away, and the Chinchwad Railway Station is the nearest station at 8 Km

Rajiv Gandhi IT Park, Quadron Business Park, Embassy Techzone, Blueridge IT Park, Talawade MIDC IT Park, and Panchshil Tech Park are close to the area. These IT parks make Wakad a highly profitable zone for commercial investments. The reason for the constant price appreciation of property in Wakad is its proximity to the IT and industrial hubs of Pune.

comercial investment zone in Wakad

In the last decade, the PCMC has granted several building permissions for Wakad. With fast price appreciation in the previous few years, Wakad promises excellent ROI. The growth prospective and the upcoming development projects in the area make it a highly desired commercial and residential locality. Moreover, PCMC has chosen Wakad under the Smart Cities Mission, which is bound to address pressing concerns and further raise its realty prospects.

The IT professionals in Hinjewadi and the working population in industrial areas of Pimpri-Chinchwad prefer Wakad due to its potential of giving high returns on investment and affordable offerings. The land prices have hiked from Rs 4600/sq.ft. in 2014 to Rs 5800/sq.ft. in 2019. Some of the Reputed builders like Kohinoor, BU Bhandari, Paranjape, Kolte-Patil, Mont Vert, Amar, ABIL, and Kalpataru on-going and have completed projects to choose from in Wakad. Hence, with proximity to commercial belts, excellent connectivity, affordable prices, and the growth potential make Wakad one of the great micro-market to invest in Pune.

For more projects lookout for SwatiRealty

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