Home > City > Capital values for properties in Kalyani Nagar appreciate by 22.5%

Capital values for properties in Kalyani Nagar appreciate by 22.5%

Christened after the late industrialist – Nellkanth Kalyani, the locality is situated in the eastern region of Pune. Surrounded by Yerawada in the west, Koregaon Park in the south, Ramwadi to the east and Shastri Nagar towards the north, Kalyani Nagar is cited to be one of the most sought after localities due to its perfect mix of residential and commercial spaces.

Being a well-planned neighbourhood, the area offers all the basic facilities and is well connected to other parts of the city via road and rail. The presence of many recreational spots has attracted many families to shift base here.

Connectivity

  • Its strategic location and proximity to the Pune Railway Station (6.5 km) and Pune International Airport (4 km) has pushed Kalyani Nagar into becoming an upscale residential hub
  • Some of the major arterial roads include North Avenue, Vithalrao Vandekar Road, Pune Nagar Road, Airport Road, Holy Cross Road and Loop Road
  • Major connectors like Bund Road, Samrat Ashoka Road and N Main Road help ease access to the Pune Railway Station
  • The area also has three major connectors that link the eastern side of the locality to the western region. The West Avenue and East Avenue intersect at Central Avenue creating an impressive intra-city networking
  • Some of the prominent modes of transportation include private auto rickshaws, shared autos (tam-tams) and PMPML (Pune Mahanagara Parivahan Mahamandal Limited) operated buses
  • With traffic congestion being a crucial problem, the recently built 300 m bridge over the Mula Mutha River linking the area to Koregaon Park and BT Kawade Road has improved traffic flow phenomenally

Infrastructure

  • The area is all set to have a metro station under the proposed metro Phase I, line 2 (linking Vanaz to Ramwadi)
  • The upcoming BRTS (Bus Rapid Transit System) too has a number of bus routes linking Kalyani Nagar to Ramwadi, Viman Nagar, Yerawada and Vishrantwadi Road. The project is currently under hold
  • The area’s proximity to CBDs and IT hubs like Koregaon Park, Hadapsar, Viman Nagar and Kharadi has led to the growth of the locality’s commercial belt
  • The presence of many shopping malls and high-end retail outlets has attracted the cosmopolitan crowd
  • The existence of many renowned schools, banks and hospitals has lured many families to shift their base here
  • Water management is becoming a major concern with the growing population and soon might force residents to depend on water tankers
  • Waste management is another area of concern that is hindering the inhabitants. However, the government is taking initiatives to eradicate this problem
  • Round the clock police patrolling and the presence of street lights has made this vicinity a secured place

Real estate Scenario

  • The insurgence of many IT parks in and around this vicinity has made properties in Kalyani Nagar very profitable
  • Wooing white-collared professionals from the neighbouring IT Parks, real estate developers are coming up with an array of budgeted homes
  • To cater to the affluent class a number premium apartments in Kalyani Nagar are being constructed. According to recent data with IndiaProperty.com, the area has over 10 upcoming projects in the pipeline
  • Capital values of properties here have witnessed an escalation of 22.5% in the past two years
  • The current ongoing rates for apartments are estimated to hover anywhere between INR 8,500 and INR 16,000 psft
  • The growing ROI has made Kalyani Nagar’s realty market beneficial for many investors
  • Rental returns in the past two years have witnessed an appreciation of 22.2%
  • On average a 2 BHK apartment here is expected to churn out a rental return of INR 22 psft per month
  • Commercial spaces for rent are estimated to fall under the price bracket of INR 55 and INR 100 psft per month
  • With the locality now reaching its saturation point, the dearth of large land parcels has pushed capital values of residential plots up
  • A residential plot for sale here is expected to cost an average of INR 12,700 psft

Download the Solid Grounds Micro Market Report on Kalyani Nagar here.

You can also track the price trends of micro markets in Pune by clicking here.

Image: “Kalyani nagar”. Licensed under CC BY-SA 3.0 via Wikipedia – http://en.wikipedia.org/wiki/File:Kalyani_nagar.jpg#mediaviewer/File:Kalyani_nagar.jpg

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