Once the capital of the mighty Maratha Empire, the present day Pune is pegged amongst one of the vivid and burgeoning metropolis & fastest growing cities in India. Spread across an area of 430 Sq. Km., it has a population of around 7.5 million making it equivalent to major Asian cities such Shanghai, Tokyo and Bangkok in terms of population.
It has witnessed significant growth and development in the recent time on the backdrop of rise in economic activities, driven by IT/ ITES companies such as TCS, Infosys, Wipro, Tech Mahindra, Capgemini & Accenture & much more. As the city boasts of a robust educational hub & one of the largest automobile industry base in the country, it has been entitled as “Oxford of the East” and “Detroit of India” respectively.
The growth is further supported by the proposal to construct Pune’s Ring Road, Pune Metro, New Airport, numerous Subways and Flyovers. A large middle class job base along with upcoming infrastructure has resulted into a vibrant real estate industry in the city that is driven by surging demand. In the near future, residential real estate prices are expected to see a surge of 11 – 13%.
Understanding the significance of market, Square yards presents a list of top investment destinations that are expected to provide good returns in near future.
Wakad – Geographically located on the northern side of Pune, situated close to National Highway (NH) – 4 and Pune – Nashik Highway. Wakad is well connected to Central Pune and Western Pune via NH 4 and Old Mumbai Road. It has close proximity to Pune Airport, accessible via Wakad Road – Airport Road. Even the metro in its phase 2, is likely to connect ASI and Hinjewadi that will further boost the attractiveness of this location, as Wakad will be located in close proximity with the metro.
Due to fine connectivity and presence of prominent companies such as Garve Technologies Pvt Ltd, Simplibuy Technologies Pvt Ltd & Minmax Software Pvt Ltd in close vicinity, the location witnessed huge demand of residential units from working professionals. Wakad is also conveniently placed with Hinjewadi, one of the biggest IT markets of Western India with a population base of over 350,000. To absorb the demand, prominent developers have come up with their state of art projects such as Kolte Patil Western Avenue, Vilas Javdekar Prudentia Towers, Vilas Javdekar Pallassio Towers & Kalpataru Crescendo etc. Square Yards GIC indicates that the average capital value is INR 6,200 in 2015, compared to INR 4,400 in 2012 – Nearly 41 % increase.
Talegaon Dabhade – The region is located on northern side of Pune, situated in close proximity to NH 4 & Mumbai – Pune Expressway. The location is well connected by road, rail and air. On the back of well connectivity, Talegaon has evolved into an automobile and industrial hub with the presence of well-known companies such as General Motors, JCB, John Deere, Volkswagen Group, Mercedes, Mahindra & Mahindra, Bajaj Auto, Bridgestone & much more.
The presence of these companies has further escalated the demand of residential units in this location. To cater to the growing demand, some of the renowned developers have come up with new projects such as Tata La Montana Phase 3, VTP Bhagyasthan & VTP Urban Life etc. Square Yards GIC indicates that the average capital value is INR 5,313 in 2015, compared to INR 4195 in 2012 – Over 26.65% increase.
Hinjewadi – Hinjewadi is situated on north-western side of Pune. It is well connected to NH 4 and NH 50. Hinjewadi, aided by Maharashtra Industrial Development Corporation (MIDC) , is being developed in phases and has successfully completed development of 1st and 2nd phases with 3rd phase under speedy development. Development of Phase 4 and 5 of Hinjewadi is expected to commence soon.
The location has evolved into one of the biggest IT parks Western India over the last few years. It is a home to Rajiv Gandhi Infotech Park and prominent IT companies like Infosys, TCS, Wipro, IBM, Tech Mahindra & Cognizant. The overall job market of Hinjewadi is around 350,000 that is expected to double in the coming time.
On the back of easy accessibility and excellent connectivity, property prices appreciated tremendously in the recent years drawing further interest from investors. To offer better price appreciation, various exquisite projects have been launched such as Kohinoor Tinsel Town, Mittal Brothers Hillside Urban, Peninsula Ashok Meadows & Pegasus Megapolis Mystic. Square Yards GIC indicates that the average capital value is INR 6,438 in 2015, compared to INR 5,238 in 2012 – Nearly 23% increase.
Kalyani Nagar – Located on eastern side of Pune, the region has close proximity to Pune Airport, Pune Railway Station & NH 9. The area has good internal roads and enjoys connectivity with other parts of city via local buses.
Kalyani Nagar is also an upcoming IT hotspot along with some major retail outlets, hotels and restaurants. Major IT parks in Kalyani Nagar include, Eon Free Zone, Panchshil Tech Park, Commerzone and the under construction Marvel Edge that have already made a mark. The presence of IT companies along with great connectivity has been triggering the demand for residential real estate in this location.
In order to cater to the demand, many prominent developers have their meticulous projects in this location such as VTP Urban Balance, Amanora Gateway Towers, Amanora Sweet Water Villas & Amanora Park Town. Square Yards GIC indicates that the average capital value is INR 8,538 in 2015, compared to INR 6,783 in 2012 – Over 25.9% increase.
Hadapsar – Geographically situated on either side of NH 9 in Eastern parts of Pune, the region has superb connectivity to Pune Airport, Pune Railway Station and Central Pune. It is in close proximity to areas like Kalyani Nagar and Koregaon – key neighbourhoods of Pune.
Hadapsar is also home to prominent IT companies such as IGATE, Amdocs, TCS & Honeywell etc. To capture the demand of residential units from professionals working in Hadapsar, renowned developers from the region have started the construction of world class projects such as VTP Urban Balance, Dynamic Linea & Amanora Gateway Towers etc. Square Yards GIC indicates that the average capital value is INR 6,163 in 2015, compared to INR 4,928 in 2012 – Over 25% increase.
