Home > City > Rental returns in Viman Nagar shoot up by 26%

Rental returns in Viman Nagar shoot up by 26%

Known as Dunkirk Lines during the pre-independence era, Viman Nagar as its better known today is cited to be one the fastest growing suburbs in Pune City. Being an essential part of Pune’s suburban business district, it is surrounded by established neighborhoods like Vishrantwadi in the west, Chandan Nagar in the east, Pune Airport in the north and Kalyani Nagar towards the south.

Located just about a kilometer away from the military airstrip, the area has a well-planned social infrastructure. Some of the active sub-localities include Sakore Nagar, Madha Colony, Airforce Campus and Konarknagar.

Connectivity

  • Being one of the major transit points, Viman Nagar is swiftly linked to other parts of the city via road and rail
  • Some of the critical connectors include Viman Nagar Road, Samrat Ashok Road, Pune Nagar Road, New Airport Road and Anand Vidhya Niketan High School Road
  • Arterial roads like the six-lane Nagar Road links Viman Nagar to other towns like Wagholi
  • PMPML (Pune Mahanagar Parivahan Mahamandal Limited) buses help ferry individuals at regular intervals
  • Some of the important bus stands include Madha Colony, Police Chowki, Konark Corner and Ramwadi
  • Private auto rickshaws, taxis and share autos (tam-tams) too help ease access to other neighboring localities
  • The country’s first BRTS (Bus Rapid Transport System) is all set to improve Pune’s connectivity. And the 3 proposed lines that are going to improve this area’s intra-connectivity include Ramwadi-Viman Nagar line, Vishrantwadi-Viman Nagar line and Deccan College-Viman Nagar line
Budget Preference of Buyers – Viman Nagar

Infrastructure

  • The locality’s proximity to the Pune International Airport and State Highway 27 has resulted in a major realty boon and a number of commercial establishments have resurfaced along this stretch. Star hotels and reputed restaurant chains dot the realty scene here
  • The neighborhood is home to many reputed management colleges and defence school and is hence dubbed as the education hub of Pune
  • The presence of many shopping malls, healthcare facilities and recreational centers too are inviting the urban crowd
  • The vicinity is all set to have a metro station. The line 2 (Ramwadi-Vanaz) of Phase 1 will have a second corridor linking Viman Nagar
  • Apart from this the Maharashtra Natural Gas Limited are considering establishing CNG Pumps to cater to the growing CNG vehicles demand
  • Locality is well planned but the ever increasing population is resulting in a major traffic gridlock
  • Lack of sanitation, electricity and water scarcity are some of the dominant concerns that haunt the residents
  • The recently launched Water Meter Project in the locality will help curb the usage of water thereby solving the water problem
Unit Size Preference of Buyers – Viman Nagar

Real estate Scenario

  • In the past few years, the area has witnessed a substantial development in its residential and commercial real estate sectors
  • White-collared professionals working in neighboring IT hubs have shown a keen interest to own Properties for sale in Viman Nagar
  • Listed under the five most desirable residential locations- properties in Viman Nagar have seen an appreciation of 28% in the past two years
  • The prices for apartments here hover anywhere between INR 6,000 and 7,700 psft
  • With 26% appreciation in the past one year the rental market too is escalating, attracting many investors and second time home buyers. Residential rental today stands at INR 24 psft per month
  • The availability of plots in large parcels too have attracted many NRIs. The present market rate for residential plots for sale in Viman Nagar hover over INR 4,300 psft

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

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

Image: By Rameshng (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

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