By Soniya Gaonkar on Nov 30, 2020 5:45:00 PM
Pune, the sister city of Mumbai, has come a long way since the colonial era. Now it is an established & throbbing multicultural city on its own and is also known as the oxford of the east of the cultural capital of Maharashtra state. Similarly, the real estate has grown in leaps and bounds- in all aspects including education, industries, IT development, manufacturing, agriculture, warehousing, hospitality, medical care, exports, finance, infrastructure growth, and more such areas.
Now, there are plenty of job and business opportunities in Pune, and that's why it attracts thousands of young professionals from all over the nation to its environs.
There is no denying that Pune's real estate has boomed a lot in the last couple of years, but unfortunately, the same growth has cluttered the market with pollution and congestion in many prominent areas like Baner, Balewadi, Hinjewadi, Kharadi and Wakad.
Now, people are searching for new areas where they can live in peace and enjoy city life at ease and at affordable prices. So in this article, we are listing the top upcoming areas which are worth considering for real estate investment in 2021. And we will also answer some of the common questions like where to invest in Pune real estate? Is real estate a good investment in Pune? Take a look:
Moshi has emerged as the top real estate & commercial destination in the last few years, especially since 2014. Located at the edge of Pimpri Chinchwad Municipal Corporation (PCMC ) area, Moshi area houses some of the best of real estate projects, civic amenities & infrastructure (Thanks to the development of Chakan and PCMC, Moshi has gained a lot in price appreciation and land redevelopment.)
Industries like pharmaceutical, mechanical and automotive industries have mushroomed in less than 10 km distance from Moshi. Talegaon (better known as developing satellite city and a central industrial area, 21 km from Moshi), and Bhosari (known as cultural and sports centre) are within shorthand distance, thanks to the amazing infrastructure available in the area.
Hinjewadi and Wakad are also less than 20 minutes away. Which means some of the most reputed International, Multinational National and domestic companies are at close proximity.
With numerous employment opportunities and abundant housing projects (from premium to affordable), the Moshi area offers excellent investment opportunities for the future.
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Talegaon, which houses various agro-based units and multinational companies, is quite strategically located near Shirgaon (On the outskirts of PCMC). Set near the Mumbai-Bangalore highway, Talegaon offers excellent connectivity through national highway, expressway, and railways lines. It is only 2 hours from Navi-Mumbai and 30 minutes from Pune, making it an excellent place for commute and residence.
Talegaon offers a fantastic opportunity to live in tranquillity and peace while being connected to city life.
Some major employment hubs lie nearby such as Maval, Chakan, industrial belt of PCMC, and IT/BT park of Hinjewadi are at a shorthand distance.
Moreover, Talegaon has delightful weather throughout the year and green and serene surroundings, everywhere you look at. Plus, MIDC, Talegaon is developing over 250 acres (1.0 km) of land for total biotechnology revolution. There is also houses a multi-modal logistics park spread across 96 hectares and a floriculture park that boasts of tulips and orchids.
Talegaon offers good educational facilities with institutes like DY Patil, Indrayani College, Polytechnic College, Maharashtra Institute of Medical Education and Research (MIMER), making the area safe and value for money.
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In the past couple of years, Undri has transformed from a sleepy neighbour of Katraj-Kondhwa to a fast-developing suburban neighbourhood of South Pune comprising several industrial and IT stations. Undri literally shined in the real estate picture after the immense pressure on land resources was felt on KP, NIBM Road, Kondhwa, and Hadapsar.
One of the best advantages of investing in Undri is its good connectivity to core and fringe areas of Pune, facilitated by significant roads running through the region. Both Pune railway station and airport are within 15 km distance, and the proposed Greenfield International Airport at Saswad-Purandar will be approximately 22 km from Undri.
SP Infocity Phursungi, Eon IT Park Kharadi, Magarpatta City and Amanora Park Town are located within a range of 9-10 km of Undri, making it one os the best places for IT professionals.
The land rates fall under an affordable range of Rs 3000 – Rs 5200 per sq. ft. Green landscapes, affordable land rates, excellent connectivity, proximity to commercial hubs, upcoming Greenfield Airport, and rapidly developing social infrastructure has made Undri one of the hottest emerging residential markets of Pune.
It is another MIDC location, occupied by low-income group people. More than 200 small residential apartment projects (with 12-15 units each) are in the locality to cater to the demand for housing.
The average pricing in the city is about Rs 4,000 per Sq. Ft. Around 2000 units (inclusive of budget flats) are sold on an annual basis, that shows there is the demand of residential apartments in Pune. IIFL Home Finance Limited has 363 approved developers' projects in the city, facilitating ease for the end-users to purchase a home in the town.
Related Post: Which Areas are Popular for Residential Property Investment in Pune?
At The Bottom
Evidently, Pune has witnessed a spurt in real estate demand over the last few years, with buyers and investors showing a keen interest in residential and commercial real estate across the city. Unlike, Mumbai, Pune offers value for money homes and an amazing environment for growth and sustainability. Also, in Pune, plush properties in high-end localities too can fit within your budget, making your investment an excellent one.
So, if you are planning to invest in property this year, Kohinoor Group has some fantastic options to woo you. Situated in some of the best neighbourhoods like Hinjewadi, the competitors envy Tathawade, Wakad, Kohinoor homes for its value for money offering. Meet the branded residences and get the 'Sada Sukhi Raho' promise at the Kohinoor homes.
Visit www.kohinoorpune.com for more information about residential and commercial real estate in Pune.