Pune’s Hotspot Residential Areas On The Realty Market
Property prices in Pune have seen a consistent appreciation in the last decade. Despite the slowdown in the real estate sector in different parts of India, the Pune real estate marketstood resilient due to development in infrastructure, supply and absorption, and set up of new IT offices in the proximity to Pune’s prime locations.
Real Estate Scenario In Pune
Pune saw a decent increase in property prices in the year 2014, except for a few areas which were more or less stable. The demand for housing and other properties had also increased greatly. With big projects like Pune’s International Airport and the Pune Metro Rail, the city has become a hotbed for investments properties in Pune.
The following are some of the locations in Pune which are in demand right now.
Bhugaon and Pirangut fall under the Bhugaon Pocket in Pune, which is one of the most sought-after destinations among the property buyers. The south-west part of Pune is blessed with eye-catching scenic beauty, dams and lakes in the surrounding areas, which brought about the development of many high-end residential projects. Due to its good connectivity with Kothrud and Hinjewadi, the demand of Bhugaon is very high. Moreover, the fact that the area is in proximity to central Pune led to a significant rise in investment in the last two years.
Due to the development of the IT sector in Kharadi, Viman Nagar, the demand for housing in this north-eastern submarket has risen greatly. The development of the IT sector in these areas has resulted in increased employment opportunities, which in turn has boosted residential growth. Another factor for the popularity of this area is its proximity to the railway station and airport. This region also has vast areas of barren land at relatively lower price that have made it one of the preferred locations in Pune among the builders and buyers. In addition to all of this, the locality offers easy accessibility to central Pune via the six-lane Nagar Road.
The Undri-Pisoli Pocket, which includes places like Undri, Pisoli, Yewalewadi, and Mohammadwadi, is an ideal place for housing or investment properties. This is due to its connectivity to central Pune and availability of land at affordable prices.
During the early 90’s, the best method of connectivity of sub-markets like Baner, Balewadi, and Aundh to the Mumbai-Pune Expressway has led to the development of residential properties in areas near the expressway. While in the latter half of the 2000’s, sub-market areas like Pimple Nilakh, Pimple Gaurav, and Wakad has emerged as some well-known residential properties. Rajiv Gandhi IT Park has also led to more growth in this corridor and now, many projects are ongoing in the areas towards Mumbai.
So, if you are planning to buy property in Pune, you can consider these places, which will definitely meet your expectations. The fact that the city is situated close to the financial capital, Mumbai, makes your choice of buying vs renting properties in Pune worthwhile. Find your dream home in Pune at commonfloor.com, a one-stop destination for all your real estate needs.