When you think about investing in property the first thing that comes to your mind is “Location”. Why is Pune the preffered location according to us? The city is the most prefferd investment destination according to the Pune real estate market as there was a “seven percent” growth observed in the last quater of 2014.
Buying a house whether for living or for investment, will be one of your biggest purchases of your life so every step should be taken with extreme precision. According to the survey conducted and due to several big development projects like metro rail project and proposed international airport plan on the run, Pune in the coming years will see a tremendous boost in the real estate market.
If someone is searching for a property to live, the main city areas are completely saturated. It is extremely difficult to purchase a flat in areas like Swargate or Deccan, while finding one that fits your choice and budget is more likely in areas like Koregaon Park and Model Colony. However, if buying property is as an investment, we would always advise them to do so in the suburbs, where there are higher chances of property rate appreciation within the next two or three years.The information technology sector has proved to have a very high influence on the real estate market in India’s cities.
In Pune, there are nine such localities which are the rulers of limelight of the market in this phase. One of the top localities is Kalyani Nagar. It is the most prominent and well established localities on the Eastern Corridor of Pune. It’s basically the center to most of the prominent localities like Koregaon Park, Viman Nagar, Kharadi, Hadapsar and also it lies in the close proximity to railway station and the airport.
The next most desirable location in Pune is Aundh. Aundh has maintained it’s position in both the residential and commercial markets for quite a long time now. After the start of Hinjewadi IT park Aundh was the first to get benefited from it. Aundh enjoys a location which has demand from central Pune as well as localities near Hinjewadi.
After a while when the requirement in Aundh grew so high that its development potential diminished rapidly under the onslaught of a relentless spate of projects. With reduced development, price appreciation also reached a certain level of stagnation in this market. Soon, the limelight shifted andWakad became the next investment junction for low income housing on the city’s Western Corridor.
The next in line is Baner. It emerged as the prices in Central Pune were on a new high. This is when Baner provided investors an affordable option without compromising on the overall connectivity. Baner due to its location is closely located to Pune-Mumbai Expressway and IT hub at Hinjewadi and also Central Pune.
Wagholi is also not much trailing in the race. Located in the Eastern periphery of the city, it has evolved into one of the city’s most important suburbs. According to its location, it provides a good access to existing and upcoming establishments in Kharadi, Hadapsar and Bund Garden. Its proximity to Pune Airport and Eastern IT hubs of Magarpatta and Kharadi and also to Shikrapur-Chakan industrial belt increases it’s demand.
Charholi is another emerging location which is present in the northern part of Pune. With the increase in demand for mid-income housing in the city, developers are exploring new regions to cater to the demand of affordable, yet stratergically located homes in Northern region of Pune.Charoli is attractively placed to catch the overabundance demand emerging from Vishrantwadi as well as the mid-budget homes close to Yerwada, Viman Nagar and Kalyani Nagar.
Pimple Nilakh, situated in the western part of Pune, is a suburb of the Pimpri Chinchwad Municipal Corporation and is basically a growing residential hub. It has marked it’s position among the fastest-growing areas neighbouring the Hinjewadi IT hub. Pimple Nilakh has witnessed a lofty increase in property rates on account of the dominant IT culture. It is witnessing vey high demand from investors. It also recieves deluge demand from Aundh, Baner, Pimpri-Chinchwad and also some Industry-Driven Demand flowing from Talegaon.
Pimple Saudagar, located in Western Periphery of Pune, it enjoys all market drivers that lend buoyancy to entire western region of Pune. It is currently indulged mainly by end users and is beginning to draw grave attention from investors. This region presents good opportunity for home buyers who are also centered on healthy investment growth.