PROPERTIES IN PUNE

Factors Driving the Real Estate Market in Pune

Pune, the second largest city in Maharashtra is considered to be one of the steadiest real estate markets in the country. Experts reveal that in 2018 Pune is going to witness a great transformation, with mega projects being planned by leading developers in high-growth clusters. Areas like Wagholi, Mundhwa and Hinjewadi will continue seeing a rise in property in Pune due to their commercial prospects and connectivity options alike . Top builders in Pune are transforming the face of real estate in Pune.

Known as the Queen of Deccan, this city is witnessing a significant rise in housing prices. The prices of luxury flats in Pune have risen by 3.4% in 2017. It offers its residents many modern housing options in prime locations with sound connectivity options and that’s why it has become a dream for many to buy a house in Pune.

Key Localities in Pune

On one hand, Pune is extremely modern and on the other, it is surrounded by the culture of Maharashtra. This perfect balance is what makes the top builders in Pune develop more and more properties here.

Here's a list of the top localities in Pune:

Viman Nagar:

This is a locality of high-rises and a well-established social infrastructure and hence has an impressive liveability score .

Kalyani Nagar:

A top residential area of Pune, this is one of the most popular localities occupied by people from all over the country. Homes are bought in this locality with a view to enjoy world-class infrastructure. One of the largest areas in Pune, with its brilliant architecture, Kalyani Nagar truly represents the vibrant energy and radiance making it a locality you’d love to live in.

Hinjewadi:

The presence of world-class hotels, restaurants and Technology Park has made Hinjewadi a popular choice for home seekers. If you wish to own a property in Pune and are searching for ready-to-move-in flats on sale in Pune in the next 2-3 years then it is the best time to invest in Hinjewadi projects.

Wakad:

Located in the western part of Pune, Wakad offers easy accessibility to Mumbai through the Mumbai-Pune Expressway and has now transformed into a bustling neighbourhood. The growth of this locality can be attributed to the Infotech and Biotechnology Park at Hinjewadi, close to the Mumbai-Pune Expressway.

Baner:

Planned roads, rapid urbanization, the establishment of commercial sectors and massive developments have collectively made Baner worthy of investment.

Property Rates in Pune

In the recent years given the city’s development in infrastructure, jobs, amenities and conveniences, Pune’s property rates have been climbing. Given below are the current prices of flats in Pune’s most upcoming and developed localities of Pune.

Source - Propequity. All prices are price per sq ft on built-up area basis. (Carpet area X 1.2)

Connectivity

As Pune is one of Maharashtra’s fastest developing metropolises, it has no dearth of transportation and connectivity. Most of Pune’s new projects are connected to well-knit roadways, railways and public transports. Its location and proximity to Mumbai is also one of the reasons why buyers prefer to invest in a property in Pune.

Roadways:

National Highway 4 connects Pune to Bangalore, Mumbai and Kolhapur, while NH9 leads to Hyderabad, and NH50 connects it to Nashik. The Mumbai-Pune Expressway, India’s first 6-lane concrete, high-speed road spans a distance of 94.5 km and facilitates faster and easier connectivity with Mumbai.

Railways:

Buying a flat in Pune also comes with the benefit of being connected to most of the major cities in India by the rail network. Local trains connect it to Lonavala and Pimpri-Chinchwad, while the daily express trains link the city to Hyderabad, Kochi, Kanpur, Jammu, Delhi, Mumbai, Bangalore, Howrah, etc.

Airways:

The Pune International Airport at Lohegaon offers domestic flights to all the major cities.

Buses:

With PMPML, you can be assured of excellent transport within the city and the suburbs. The MSRTC also provides buses from main stations in Pune, Swargate and Shivajinagar to prime locations in Maharashtra.

Long-Term Infra Upgrades - Pune

Pune has constantly been a homebuyer’s choice when it comes to real estate. Over the years, several infrastructural developments have been planned by the Government to boost the overall scenario of the city, thus pushing Pune’s property rates.

Let’s see the recent infrastructure developments undertaken by the Government Authorities in Pune:

- The PMRDA (Pune Metropolitan Region Development Authority) is planning a rapid makeover for the outskirts of the city. It is planning to establish 15 town planning schemes over a period of 18 months.

- Sanctions for investments of over ₹65,000 crore have been lined up for a planned construction of new airport that would have a capacity to handle 20 million passengers per annum, a 128-km eight lane outer Ring Road providing connectivity to the airport, and new Metro Link that will improve the lifestyle and commute within the city. While work on two metro lines is already underway, an additional 63.84 km long third metro line will provide better rail connectivity.

- Additionally, ₹10,000 crore has been committed for the upgradation of existing water and sewerage lines and to develop the undertaken Smart City initiatives, taking Pune’s infrastructure to the next level.

- As a part of Smart City initiatives, the Pune Municipal Corporation has announced its plans to upgrade city’s traffic and transport system and invest around ₹18,000 crore in planned phases over a period of four years.

Lodha Belmondo, an Upcoming High-End Luxury Residential Space:

Owning a house in Pune comes with many benefits. Lodha Belmondo, an upcoming residential space from the Lodha Group for a discerning few, situated at the Mumbai-Pune Expressway features luxury sunrise residences.

From exclusive views of a sprawling golf course, a world-class spa and state-of-the-art clubhouse, to majestic residential flats, the Lodha Belmondo is made for larger than life living. This new project in Pune also boasts of 90 acres of greens and a kilometre-long riverside promenade.

Featuring 2 Bed, 3 Bed, 4 Bed and Studio residential units, the Lodha Belmondo boasts ample external amenities including but not limited to Cricket Ground, state-of-the-art gymnasium, Organic Farm, 10,000 sq. Ft. spa, club Belmondo with a sprawling area of 50,000 sq. Ft., private theatre, outdoor swimming pool, indoor/outdoor games and much more for an elegant living.

Types of Property in Pune

Pune’s real estate market has witnessed a considerable demand for prime retail and commercial spaces owing to major commercial IT hubs developed in the city. As a result, with the growth in IT jobs, a major buyer segment of the luxury properties in Pune consists of the top management from IT houses, MNCs as well as entrepreneurs, pushing the real estate luxury housing sector. Additionally, Pune is also a favourite investment destination for high-net worth individuals and NRIs. A better social life, enhanced security, maintenance and modern amenities are some of the factors that have caused these buyers to shift towards luxury homes in Pune.

As far as luxury housing goes, the most flourishing areas to buy a flat in Pune are Kalyani Nagar, Koregaon Park, Magarpatta, Boat Club Road, Wakad, Wagholi, Salisbury Park, Charoli, Bhosale Nagar, Pimple Nilakh, Erandawane and the Aundh-Baner corridor .

Luxury apartments in Pune usually come in configurations of 3 & 4 BHKs, which are modelled as sky villas, condominiums, independent bungalows and villas. The residences offer exquisite amenities like terrace decks, pool and cabana, lounge and fresco dining, home automation system and in some cases, even a concierge.