The real estate market in Pune has seen massive growth over the years. Being one of the greenest Indian cities, property in Pune is sought after by real estate investors. The IT industry seems to be a key driver of the growth of Pune’s real estate market. With the implementation of ‘Smart City’ projects, along with the ongoing infrastructure initiatives by the central and the state government, the upswing in Pune’s real estate market is oblivious.
Over the years, it has seen the development of premium residential projects by reputed developers such as Stargaze Bavdhan by Kolte-Patil Developers. The areas that are the most popular with real estate investors are as follows:
Both private homebuyers and people with commercial interests prefer Wakad for many reasons. Its proximity to IT majors like Infosys, TCS, and Tech Mahindra has contributed to the growth of real estate in this region. Besides, when it comes to inter- as well as intra-city connections, the location of Wakad is ideal. The nearest railway station is Shivaji Nagar, the airport is just 21 km away, and the city is close to the Pune–Mumbai Highway. Over the years many commercial and residential properties have come up in this area. The average price of residential property in this area is Rs.5,500 per sq ft. Wakad falls under the Pimpri Chinchwad Municipal Corporation (PCMC). The municipal authority is developing a fully functional drainage system, 24×7 water supply, and electricity.
Located near the Rajiv Gandhi Infotech Park, Hinjewadi is also one of the fasting growing areas in Pune. Owing to the development of infrastructure in this area, many well-known developers have built large residential projects. The proximity to the IT hub is another reason for the high demand for residential properties in this area. The price of residential property in this area averages at Rs.5,600 per sq ft.
Kharadi is in east Pune. It has well-developed infrastructure and easy connectivity to other parts of the city. Over the years many commercial setups have come up in this area. This has resulted in an increase in demand for residential establishments. As an EON-free zone, Kharadi boasts extraordinary office buildings. The average price of residential property in this area is Rs.5,600–6,400 per sq. ft.
Baner is located off the Katraj–Dehu Road Bypass and enjoys seamless connectivity due to the Pune–Mumbai Expressway. Thanks to its proximity to prominent schools, colleges, hospitals, and restaurants, it is one of the most sought-after areas in Pune. The average property price is about Rs.7,000 per sq ft.
Located along National Highway 4, Balewadi is close to the Mumbai–Bangalore Highway. It is well connected to Pune through the Baner Road. There are many development plans for this area. The Pune Smart City Development Corporation Ltd (PSCDCL) is going to develop its first state-of-the-art transit hub at Balewadi. This includes a Metro station, a bus rapid transit system (BRTS) stand, and a bus transit facility. Many well-known developers have constructed residential projects under affordable and luxury categories.
Bavdhan is another fast-developing suburb of Pune. Its proximity to the IT hub and the Mumbai–Pune–Bangalore Highway, and easy connectivity via road and public transport have contributed to its growth. Its two neighbouring areas, Kothrud and Pashan, have renowned schools, such as Ryan International School, Suryadatta School, St Joseph’s High School, and Periwinkle English Medium School. Besides, Bavdhan has well-known hospitals like Om Hospital, Sahyadri Hospital, and Lodha Hospital. Renowned builders like Kolte Patil Developers have constructed luxury projects like Stargaze Bavdhan, catering to the need of every home buyer.
Pune’s real estate market has gained momentum due to planned infrastructure. Property in Pune is affordable compared to those in Mumbai and Bangalore. So, if you are planning to buy your dream home in a green city, you can consider investing in Pune. Making it light on your pocket, many banks and non-banking financial companies (NBFCs) now offer home loans at affordable interest rates. For example, NBFC Bajaj Finserv brings you pre-approved offers for personal loan, home loan, EMI finance on different products, and other financial services.
Not only does this simplify the process of availing financing but also helps you save on time. All you have to do is share a few basic details and check out your pre-approved offer. You could get a loan of up to Rs.3 crore payable over a term of 20 years.