Talegaon Dhabhade, in the north of Pune, is emerging as a preferred destination for many prospective home buyers. The average rates here are between Rs 3000 per sq ft and Rs 4600 per sq ft; in the first three months of the year there has been an increase of 1% in this locality.
Location: Talegaon Dhabhade, more popularly known as Talegaon, has Akurdi to the north, Sornatne Phata to the south with Induri and Vadagaon to the east and west. The River Indrayani flows from north to east of Talegaon. This suburb comes under the Mawal Taluka and is governed by a municipal council. Some of the important localities here are Begade Aali, Yashwant Nagar, Swaraj Nagari, Varale, Malwadi and Vatan Nagar.
Talegaon’s location is its biggest unique selling point. Though the locality is away from the city, it is surrounded by industrial hubs and Information Technology (IT) Parks. So home buyers can be confident that the property will appreciate as the demand, both for outright purchase and rentals will always be high in this locality.
Connectivity: Talegaon is just 4 km from the Mumbai Pune Expressway. The other arterial roads which pass through Talegaon are the National Highway (NH) 4, the old Mumbai Pune Highway and the Talegaon Chakan Road. Other parts of Pune can be connected through the Maruti Mandir Road, the Yashwant Nagar Approach Road and the Talegaon Dhabhade Road. Two railway stations service Talegaon and these are Talegaon Dhabhade and Ghorawadi Railway. Talegaon Station is a major halt for Pune Suburban Railway trains and serves as terminal for Pune – Talegaon Suburban trains. Few of the long distance trains halt here while most of the suburban trains stop here. The airport is 40 km away but can be accessed via the Old Mumbai Pune Highway.
Proximity to commercial and industrial hubs: The locality is close to the Pimpri Chinchwad Municipal Commission (PCMC) industrial area and also to the Hinjewadi IT Park as well as the Chakan and Maval industrial zones. The closeness to these areas ensures that demand for housing will always be on the higher side. Many multinational companies have opened their offices nearby which again ensures an influx of young professionals into the area. There are a number of automobile manufacturing units in the surrounding areas which again has increased the demand for housing. The automobile production plants are all brands such as Mahindra & Mahindra, Volkswagen, Bajaj and Daimler Benz.
Social infrastructure: There are some good educational institutions in and around Talegaon. Hospitals are also easily accessed.
Affordability: Talegaon falls well within the ‘affordable’ housing tag. The reasonable pricing of housing in this locality is one of the main reasons for its popularity. The prices in the area come into play especially since the cost of housing in Pune as well as Mumbai have gone up. Most buyers feel that there would good return on investment (ROI) because of the demand from people employed close by.
Talegaon is generally considered to be an end user market. Home buyers have a number of housing options to choose from, there are bungalows, row houses, apartments and senior citizen projects. Developers are also catering to people who want to invest in a second home. These buyers are most often residents of Mumbai who desire to have a second or week-end home in Pune. The scenic beauty of Talegaon is one of the main plus points for this strategy.
The second category of buyers is generally employees of the IT parks or the industrial estates who wish to stay close to their place of work. Developers are also catering to the blue-collared workers in the industrial units with more economical housing.
Meanwhile, absorption of commercial space in Pune has grown in the first quarter of this year. This is a sure fire indicator of the likely surge in employment which will boil down to a demand for residential space. The demand has been mainly for the IT and its enabled services sector. Hinjewadi is one of the preferred destinations for commercial users which follows that the demand in areas such as Talegaon will also grow.
Nina Varghese for IndiaProperty.com