subject: Suburban Region Offering Promising Rise In Terms Of Properties In Pune [print this page] Over the past few decades, real estate Pune has gained constant transformation and has therefore became one of the desired city in terms of realty market. The main factors that are responsible for mapping Pune as the real estate are rich cultural heritage, pleasant climate, pool of young population, influx of large scale industries as well as proper education facilities and many more.
The Nikhil Jain of Riddhi Siddhi compared the three different locations of Pune i.e. Undri, Magarpatta and Hadaspar. Compare to Magarpatta and Hadaspar, Undri enjoys to have the best connectivity. In June-September 2012, Hadaspar and Undri have seen to have increase in the multi storey apartments by 12%, as compare to Magarpatta that have been seen an increase of only 7%.
Recorded data showed that the real estate Pune have seen to be encouraged in the last six months. Due to the demanding value from both the local population as well as well as the outsiders which includes individuals from IT sectors, business sectors such as manufacturing, automobile, education and services, the price for almost all the locations in terms of residential properties in Pune have been noticed a sudden increase. It has been noticed that most of the residential properties are launched in the city especially in those areas where the IT and other business sectors are expanding.
The north-west and south-east part have seen to have tremendous rise in the price for the property in Pune due to increasing demand for the homes especially by the IT as well as the industrial employees. Hinjewadi, Balewadi, Hadapsar, Kharadi, Baner, Undri, Magarpatta, Hadapsar and Nagar Road are those areas. According to Bharat Shah of Shah Associates, a Pune based realtor, who states that mostly the housing in the Pune properties that are highly demandable are falls in the range of the middle level housing that ranges from the price Rs 40-80 lakh. The information from another local realtor Vinod Singh from Shalimar Real Estate informed that the capital values in these areas have seen to have increase by 20-22% from the past one year.
Due to the proper accessibility to commercial hubs as well as easy access to all kinds of recreational activities, certain area like Wanowrie have seen to be emerged for the residential property in Pune. The areas such as Koregaon Park and Kalyani Nagar are known to be the most expensive locations. While other areas in Pune that have gained a good appreciation includes Koregaon Park and Kalyani Nagar, Waked, Pimple-Nilakh and Pimpri-Chinchwad. According to the Paresh Karia, the director of Easy2ownEstate, due to the affordable rates and close proximity to various IT parks, people are opting for the Pune properties in the Wagholi region that enjoys a good connectivity via Nagar Road.
Due to the heavy demand by the Pune properties buyer, the developers have started exploring Wagholi as one of the potential location around 2007. a number of row houses have been launched over here with the capital value of 5-7% annually. The prevailing rates of properties in Pune in the Wagholi region ranges from Rs 3100 to 3500 per sq ft, while the residential projects in Pune for sale in this region about three years ago was Rs 2000 and about a year ago was Rs 2500.
In terms of developing both in terms of major residential and commercial hub, the real estate Pune in the Wagholi region has earned a good potential. The prominent builders who have gained their presence over here in terms of property in Pune are Karia Developers, Goel Ganga Developments, Raviraj Group, Panchshil Realty, Kolte Patil Group, Marvel Realtors.
There are number of developers in the real estate market who are basically addressing the festive seasons as one of the best opportunities to increase the sales, by offering the properties in Pune at low prices while offering festival discounts. According to Kumar, it has been seen that in the Indian real estate market, one third of the annual sales happen during Diwali with the real estate transactions by 25-35%. The realty experts have observed that there is a significant trend in India of buying properties during the auspicious seasons or festivals, especially during navaratra and Diwali.
Hence, due to the urgent need for the properties in Pune, the Pune has stretched its boundaries in all the directions which includes suburban area of Tathawade, Nigdi, Dighi, Kalas on the northern corridor, Kondhwa, Warje, Saswad, Undri, on the southern corridor, Wakad, Hinjewadi, Mulshi, Bavdhan, Balewadi, Pirangut, Nanded, Pasha on western belt as well as Manjari, Mundhwa, Phursungi, Wagholi, on the eastern belt.
