TOP AREAS TO INVEST IN PUNE
Pune, a cultural and educational hub of India, attracts students and buyers from all over the country and abroad. It has been on the radar for investors for quite some time now given its exemplary education and employment opportunities. Pune is often referred to as the pensioner’s paradise, due to its greenery and tranquil climate. It has also seen a lot of traction from NRIs or expats who want to own a home or just invest in their country of origin. top 5 areas to invest in real estate Pune
Pune hosts some of the top real estate micro-markets in India backed by a high return on investment due to various growth drivers like:-
- IT boom
- Educational Opportunities
- Army Base
- Automotive Hub
- Excellent Social Infrastructure
- Proximity to India’s Financial capital, Mumbai
Pune’s concentric development pattern coupled with its ability to expand geographically along with emerging economic hubs is driving its real estate market to new heights. Maharashtra has been a forerunner in the effective implementation of RERA, thus creating positive momentum in the industry and encouraging consumer interest. This has been a tremendous boost for the real estate market in Pune, backed by its new-found transparency and accountability. Moreover, Pune has emerged as the best-governed city and most equipped to deliver urban reforms in an all-India survey conducted by Janaagraha Centre for Citizenship and Democracy.
Here are the top 5 areas to invest in real estate Pune which promises unprecedented growth in the future:
the top 5 areas to invest in real estate Pune, Kharadi is placed along the banks of the panoramic Mula-Mutha River and lush green landscapes. Located in the eastern corridor of Pune city, Kharadi is the new IT hub of Pune backed by a booming micro-market with a range of industries which include IT, ITeS, hospitality, retail, and education. It shares a boundary with key locations like Kalyani Nagar, Viman Nagar, Wagholi, Mundhwa, Hadapsar and Koregaon Park.
Kharadi enjoys excellent connectivity to prime localities via. Pune-Ahmednagar Highway, Mundhwa Road, Grant Road, and Fountain Road. Pune International Airport can be reached in a matter of 10-15 min along with several rail connectivity options like Pune Junction, Hadapsar, Shivaji Nagar, Khadki, and Manjari. The on-going Pune metro project will connect Vanaz in Kothrud to Ramwadi near Kharadi.
Kharadi is home to some of the most renowned names in the commercial & IT space, like World Trade Centre, EON IT Park, Kharadi IT Park, Magarpatta Cybercity and Cerebrum IT Park. Well connected to Pune city, Kharadi has become the preferred choice for home buyers and has revolutionized the ‘Walk to Work’ and ‘Neighbourhood Planning’ concept. Besides, there are many other industrial areas like Hadapsar, Wagholi, Ranjangaon, Sanaswadi etc. Social infrastructure is promoted and developed on a large scale, marking the Kharadi landscape with established educational, healthcare and retail brands.
Real estate prices have also subsequently shot up, but it still continues to be affordable for mid-income homebuyers. Kharadi has witnessed a capital appreciation of almost 140% during the last ten years. From Rs 2700/sq.ft. In 2008, it rose to 4600/sq.ft. In 2014, and currently, the prices of residential property in the locality are touching Rs 6400/sq.ft. Furthermore, there are many infrastructure projects that are advancing smoothly which when complete will stimulate the residential realty market. Reputed builders such as Kolte-Patil Developers, Goel Ganga Group, Mantri Developers, Godrej Properties, Marvel Realtors, etc. have on-going and launched projects in Kharadi. 2bhk and 3bhk apartments are the first preference of home-buyers in Kharadi.
Top 5 areas to invest in real estate Pune, Undri has transformed from a sleepy neighbor of Kondhwa to a fast-developing suburban area of South Pune encompassing several industrial and IT hubs. Undri flashed in the real estate picture after immense pressure on land resources was felt on NIBM Road, Kondhwa, and Hadapsar.
One of the biggest advantages of investing in Undri is its exemplary connectivity to core and fringe areas of Pune, facilitated by major roads running through the region. Mumbai-Hyderabad Highway, Mumbai-Bengaluru Highway, Pune-Saswad Road, and NIBM Road are major lifelines of this region. The development of proposed Pune Ring Road will facilitate swift and hassle-free linkages to all parts of Pune. Pune Junction and Hadapsar Railway Station serve rail connectivity and can be reached from Undri in 20min. The Pune International Airport located at Lohegaon is a 15 km drive. The proposed Greenfield International Airport at Saswad-Purandar will be approximately 22 km from Undri but will be a hassle-free commute as Undri will be the nearest developed micro-market.
SP Infocity Phursungi, Magarpatta City and Amanora Park Town are located within a range of 8-9 km and house some of the most renowned IT majors. Small and large-scale industries ranging from automobiles, electronics, biotechnology, chemicals, pharmaceuticals, textile, etc. have been established in the presence of MIDC at Hadapsar Industrial Estate and Swami Vivekananda Industrial Estate in Handewadi. The social infrastructure in Undri is top-notch with state-of-the-art educational and healthcare facilities which are accessed by people from across India.
Pune has been witnessing a rapid influx of working population from outside the city. As a result, there has been a sudden boost in the demand for residential apartments. Undri is a residential destination that still offers unspoiled natural splendour and expansive greenery which Pune was once famous for. It is surrounded by key localities like NIBM, Kondhwa, Hadapsar, Market Yard, Katraj, Wanowrie, Fatima Nagar, etc. The land rates are in the affordable range of Rs 3,900 –Rs 5,200 per sq. ft. Homebuyers prefer to purchase property in Undri because it also provides good rental income from the ever-growing floating population. Green landscapes, affordable land rates, excellent connectivity, proximity to commercial hubs, upcoming Greenfield Airport, and rapidly developing social infrastructure has made Undri one of the hottest emerging residential market of not just Pune, but entire India.
In the top 5 areas to invest in real estate Pune, Hinjewadi is a north-western suburb of Pune located off the Dehu-Katraj bypass. It is the biggest IT hub in Pune and makes for a handsome investment option. This is one of the hottest realty hubs in the city at present offering several investment opportunities in premium and mid-range housing projects. It is a proposed hub for integrated townships in Pune with an objective to decongest core areas of Pune and encourage peripheral settlements. Hinjewadi stands out owing is its location and connectivity to other Pune localities and Mumbai-Pune Expressway.
The area offers great connectivity to Mumbai, Bengaluru and other core areas of Pune via Pune-Bangalore Bypass and Mumbai-Pune Expressway. Pune Airport is at a distance of 25 Km via the Hinjewadi-Aundh road. A metro route between Hinjewadi and Shivajinagar is proposed to connect PMC, PCMC and MIDC areas.
Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park and Blueridge are well-known IT Parks which have attracted IT professionals from all over India. Hinjewadi has witnessed skyrocketing commercial development and other key industries like biotechnology, IT, manufacturing, pharmaceuticals and automobiles are flourishing here. Educational institutes like Pune University, Sinhagad College, Indira College, and MIT are in close proximity. Also, Aundh Chest Hospital, Sahyadri Hospital, and Medpoint are some well-established medical centres here.
Backed by potential future growth and the rising demand for residential property, it is a fitting location for investing in Real Estate. It shares a boundary with Wakad and Balewadi in the east, Tathawade to the north, and Baner and Bavdhan in the south. Renowned real estate developers like Kolte-Patil, Godrej, Kohinoor, Shaaporji Pallonji, and Paranjape have projects in Hinjewadi. 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, it is destined to witness further traction owing to the availability of vast tracts of land, Grade-A commercial developments and increasing residential demand.
In the top 5 areas to invest in real estate Pune, Baner is located on the western fringe of Pune and has developed into a promising real estate hotspot and an alternative to saturated micro-markets in central Pune. Baner is a destination generally preferred by end-users looking for luxury and affordable homes or techies looking for rental options.
Baner is connected to neighboring localities via the arterial road – the Mumbai-Bengaluru Highway and Baner road. There is an availability of good public transportation which allows residents to commute to work without any hassles. The Expressway runs off the Katraj-Dehu Bypass (NH 4) right next to the locality.
Hinjewadi’s development as an IT hub has driven the rental market of Baner. Some medium-sized businesses and IT parks are also located in Aundh and Kothrud. Commercial offices like Nanospace IT Park, ICC Trade Tower, and RMZ Westend have attracted IT professionals in large numbers to Baner. Industrial pockets in nearby areas, like Pirangut, Talegaon and PCMC, further contribute to the growing demand for residential properties in the region, among working professionals. Well-developed physical and social infrastructure are the biggest growth drivers of Baner, making it one of the hottest residential micro-market of Pune.
Baner is bordered by Pashan in the south, Balewadi to the west, Aundh to the north and Pune University to the east. There are a plethora of options to choose from- apartments, commercial properties, villas and residential plots. IT professionals employed in Hinjewadi prefer renting in Baner owing to the available ready-to-move-in stock. Numerous prominent developers like ABIL, Panchshil, Kolte-Patil, DSK, and Kalpataru have projects offering a wide variety of options in Baner. Historically, real estate in Baner has provided a good return on investments with prices hiking from Rs 5600/sq.ft. in 2014 to Rs 7000/sq.ft in 2019. Thus, this typical residential micro-market is one of the best bets for investors looking to invest in real estate in Pune.
Located alongside National Highway 4, covering the Mumbai-Bangalore route, Balewadi has witnessed a steady growth in terms of spacious residences in recent times. Proposed infrastructure projects and civic amenities have propelled the real estate growth of the area. The Katraj-Dehu Road corridor crosses through Balewadi. The area is well connected to Pune via Baner Road. A bus rapid transit is also planned from the city’s Airport to Balewadi.
The Pune Smart City Development Corporation Ltd (PSCDCL) will soon develop its first state-of-the-art transit hub at Balewadi, comprising of a Metro station, a bus rapid transit system (BRTS) stand, and bus transit facility for both inter and intra city services.
The presence of several good educational institutions has accelerated the real estate activities in the region. Several renowned developers are involved in constructing a number of residential projects in both the affordable and premium categories, providing ample choices to buyers. With several upcoming realty developments, Balewadi has the full potential to become a prominent residential and commercial hub.
In top 5 areas to invest in real estate Pune, Wakad is situated on the north-western fringe of Pune and has emerged as one of the most sought-after investment hubs in recent times. It was developed due to spillover demand from well-developed localities of Baner and Aundh. It is surrounded by residential suburbs like Pimple Nilakh and Pimple Saudagar to the east, Baner and Balewadi to the south, Akurdi and Chinchwad to the north, and Hinjewadi to the west. The major growth factor of Wakad is its exemplary road connectivity, the presence of employment opportunities and vast tracts of developable land.
Wakad boasts excellent intercity and intracity road connectivity. The major roads that run through this area are Wakad-Bhosari BRTS Road, Wakad Road, and the Mumbai-Pune Expressway. The Chinchwad Railway Station is the nearest station at 8 Km from the locality, and the Pune Airport is a 45-minute drive away.
Rajiv Gandhi IT Park, Embassy Techzone, Quadron Business Park, Blueridge IT Park, Talawade MIDC IT Park, and Panchshil Tech Park are in close proximity to the area. This makes Wakad a highly lucrative zone for commercial investments. The primary reason for the constant price appreciation of property in Wakad is its proximity to the IT and industrial hubs of Pune. In the last couple of years, the PCMC has granted the maximum number of building permissions for Wakad. With rapid price appreciation over the years, Wakad promises excellent ROI.
The growth potential and upcoming development projects in the area make it a highly sought-after commercial and residential locality. Moreover, PCMC has selected Wakad for area-based development under the Smart Cities Mission, which is bound to address necessary concerns and further boost its realty prospects. IT professionals in Hinjewadi and working population in industrial areas of Pimpri Chinchwad prefer Wakad due to its affordable offerings and potential of giving high returns on investment. Land prices have hiked from Rs 4600/sq.ft. in 2014 to Rs 5800/sq.ft. in 2019. Reputed builders like Paranjape, Kolte-Patil, Kohinoor, BU Bhandari, and Mont Vert have completed and on-going projects to choose from in Wakad. Hence, with exemplary connectivity, affordable prices, proximity to commercial belts, and future growth potential make Wakad one of the best micro-market to invest in Pune.
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