Which localities garner the most demand for residential properties in Pune?
IT sector is responsible for the surge of real estate activity in Pune today. Recent data by IndiaProperty.com suggests that home buyers are looking at Baner, Hadapsar, Hinjewadi, Kharadi, Wagholi and Wakad to invest in residential properties in Pune. These localities have the highest number of residential real estate projects in the city. These localities also show the highest supply of residential apartments and plots in Pune.
Which areas show good property price appreciation in Pune?
If you are looking for properties to invest in, which will give you good capital appreciation in the future then Wakad, Kalyani Nagar and Wagholi are the top three localities to consider. Wakad’s development and rapid urbanisation is due to the Mumbai-Pune Expressway and the surrounding IT Hubs. There is rising demand for plots and apartments in Wakad today. Experts suggest that property prices that hover around INR 4500 to 5500 per sq. ft. can go upto INR 10,000 per sq. ft. by 2020. In the year 2013-2014 saw close to 40% price appreciation for properties at Wakad, according to Solid Grounds report by IndiaProperty.com. The report also indicated a 22.5% price appreciation in Kalyani Nagar, which is already a popular residential locality in the city. Experts suggest that property prices in Kalyani Nagar will touch INR 15,000 per sq. ft. by the year 2020. Wagholi has shown good price appreciation in the year 2013-2014 at 24% and 32% for apartments and plots respectively.
Which areas in Pune city offer high-end luxury properties?
Central Pune is the hub for luxury real estate in the city. Localities such like Boat Club Road, Shivaji Nagar, Model Colony, Koregaon Park and Kalyani Nagar are the top premium property markets in the city today. One can invest in premium apartments and villas in these areas. Due to limited availability of space and high demand for localities close to the CBD (Central Business District), central Pune has always faced a good demand for high-end properties.
Where should I buy residential plots in Pune?
If you are looking to invest in residential plots in Pune, Kharadi, Wagholi and Hinjewadi are the top three localities you must consider. Investment in plots have a longer gestation period and a higher price appreciation. In Pune, price appreciation is dependent on the development of IT industries and IT Parks in the vicinity. And that is how Kharadi, Hinjewadi and Wagholi emerge as top choices for buyers looking for plots in Pune for investment purpose. You can buy plots in Kharadi, Wagholi and Hinjewadi for an average price of INR 32,000 per sq. yd., INR 10,000 per sq. yd. and INR 9000 per sq. yd. respectively. Kharadi showed the highest price appreciation from Q2 to Q3 2014 at 15% followed by Wagholi at 13% and Hinjewadi at 4%.
Which are the upcoming luxury property markets in Pune?
Apart from Central Pune, the current luxury real estate hub of the city, South Pune is slowly taking over a potential luxury market. The prime reason for this being, availability of space and land in South Pune. Central Pune localities such as Boat Club Road, Shivaji Nagar or Model Colony today face a situation of limited land banks for development. This has created a market for luxury properties in South Pune localities like Undri, and Kondhwa and areas along the Sinhagad Road and NIBM Road where you can buy premium properties worth INR 1 crore or more today. Especially localities like Sinhagad Road offer adequate green cover and open spaces like parks in the vicinity. NBIM Road has the highest supply of premium properties priced at INR 1 crore and above. Open spaces, proximity to IT Hubs & commercial centres and little or no congestion in South Pune has created a premium property market here.
Anupriya Dharma for IndiaProperty.com