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Price for plots in Wagholi goes up by 32%

Wagholi is located in the north eastern part of Pune. The area derives its name from the famous temple for Lord Shiva called Wagheshwar Temple. Historically the locality is known to be the home of Maratha warrior, Sardar Pilajirao Changojirao Jadhav.The area is developing into an Information Technology hub with many new call centres and BPOs setting up shop here. The region is also known as the warehousing and industrial belt of Pune. This area is surrounded by Sirampur in the north, Savannah in the south, Pune International Airport area in the west and Kesnand in the east. Some of the more important sub localities here are Kalubai Nagar, KawadeWasti, Siddhart Nagar, and Khandve Nagar.

Connectivity

  • Wagholi Road, State Highways 27, SamratAshoka Road, Pune Nagar Road are some of the important connectors that are running through this micro market
  • Kesnand Road, Ivy Estate Road and Baif Road take care of the intra connectivity here
  • The Pune Nagar Road, which is a six lane highway connecting Pune with Ahmednagar, connects Wagholi with the IT hubs of Hadapsar and Kharadi
  • Buses operated by the Maharashtra State Road Transport Corporation and Pune MahanagarParivahanMahamandal Ltd connect this locality to all parts of the city
  • The Hadapsar railway station which is 10 km from this locality is the closest railway station and can be reached through the SamratAshoka Road and MundhwaKharadi Road
  • The Pune railway station is 15 km away from this locality and can be reached through the SamratAshoka Road
  • The Pune International Airport is at a distance of 10 km from here and can be reached through the Wagholi Road
  • The Pune Metro in neighbouring Kharadi and Bus Rapid Transit System will enhance the connectivity here

 

Budget Preference of Buyers – Wagholi


Infrastructure

  • The Pune BRTS project is currently under hold. Wagholi has two lines under this project
  • The Wagholi-Vishrantwadi line is complete but not operational. There is also a proposed line between Wagholi and Warje
  • Under Phase 1 of the proposed Pune Metro project, Line 2 between Vanaz and Ramwadi will be extended till Kharadi. Kharadi is 7 km from Wagholi
  • Proposed flyovers from Shikrapur and EON IT Park to Wagholi will ease the connectivity here
  • There is water problem in this locality since ground water levels are low
  • Once the proposed pipeline with water supply from Bhima River to Wagholi comes into play, the water problem here will ease up
  • Social infrastructure such as educational institutions, healthcare facilities, malls and restaurants are present here
Unit Size Preference of Buyers – Wagholi


Real estate

  • Proximity to IT hubs and affordability are some reasons why properties in Wagholi are becoming popular among buyers
  • Since the real estate markets in the IT hubs, Kharadi and Koregaon Park are saturated, the real estate in Wagholi is reaping the resultant benefits
  • Apartments in Wagohli can cost anywhere between INR 3800 and 5000 psft. Prices for apartments here has appreciated by 24% over the last 2 years
  • 1 BHK apartments are the most in demand here at 47% followed by 2 BHKs at 45% and 3 BHKs at 8%
  • Plots in this micro market are priced between INR 350 to 2000 psft. The capital value of plots has appreciated by 32% over the last 2 years.
  • Villas cost anywhere between INR 5600 to 6500 psft
  • Individual homes can be rented out at INR 12 psft per month
  • Apartments occupy 83% of the residential real estate market here, followed by independent homes at 8%, plots at 5% and villas at 4%

Download the Solid Grounds Micro Market Report on Wagholi here.

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

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