Property at Pune: Three High Growth Corridors

Pune Property at Makaan.com

Pune, an important commercial center of Maharashtra, has grown in elephantine proportions as far as its reality market is concerned. From a rustic land without any socio-economic development, the city has transformed itself into an important realty hub. The progress has been brought about by several factors like popping in by software sector and emergence of a multitude of several IT/ITeS parks across its several localities. Improved connectivity, improved physical infrastructure, generation of employment opportunities are the other factors that have helped in transforming market for sell property at Pune. Let's have a look over some of the high growth corridors that this city has.

Viman Nagar: An expensive locality to buy a residential property in Pune. Forming the eastern corridors of the city, Viman Nagar has strategic advantage of being located close to several IT parks like Weikield IT Park, EON, and Espace IT Park. A 2 BHK residential property is available in the flexible price bracket: 30 lakh-2 crore. The average psf value prevalent over this locality is around 7100/-.

Kharadi: A fast pace developing locality, Kharadi is a preferential area for seekers of residential property in Pune. Kharadi is popular for the presence of EON Free Zone SEZ. It is well connected to other suburbs like Kalyani Nagar and Koregaon park. The price segment prevalent for a 2 BHK flat here is 25 lakh-1.8 crore. Average psf rate in last quarter of 2013 stood at around Rs. 5700/-.

Wakad: Located in Pimpri-Cinchwad, Wakad has done tremendous development over years. One can find some of the most developed residential properties in Pune over Wakad. A 2-room apartment is available in the comfortable 15-90 lakh price segment. The psf rate during Oct-Dec, 2013 stood at around Rs. 5000/-.

Look for property sites in India to have more information about these localities.

Inflation has not Plummeted the Demand of Residential Property in Pune

While the news of plummeting in demand has been coming from one state after the other, the realty market in Pune seems to drifting in the opposite direction. Over a month of last six months, residential property in Pune saw an influx of about 21%. With more than 400 projects having been launched during this period, and the sell-market going strong, it is clear that the property market is performing well enough. Though the number of inventories lying vacant/unused is around 20%, yet the demand is going steady. In micro-markets too, a good escalation in demand has been witnessed. The time is ripe for those buyers who are interested in investing on premium properties, as the number of such projects  rolled out recently is pretty high.

As far as land for sale in Pune are concerned, the rates vary from one micro-market to the other. The localities where the average per square feet rate lies within the range Rs. 2000-4000/- include Dehu Road, Fursungi Gaon, Manjri, New Sanghvi, Talegaon, Chakan, Moshi, and Mohammadwadi. In areas like Viman nagar, Wakad, Lullanagar, Kharadi, Hadapsar, Hinjewadi, Pimpri Chinchwad, Singad Road, Vishrantwadi, Warje, Chinchwad, Katraj, Chikhali, and, Wakad, you can expect the higher range: Rs. 4000-7000/ sq. ft.

If one is on the hunt for premium residential property in Pune, localities including Erandwane, Balwadi, Bibwewadi, Koregaon Park, Magarpatta, Shankarseth Road, Baner, Kothrud, Kavre Nagar, and Shivaji Nagar can offer you a lot of options. The real estate prices in Pune, specially in Shivaji Nagar, Karve Nagar, Kothrud, and Koregaon can cost as high as Rs. 12000-13000/ sq. ft.

It's Pune's excellent backing by infrastructure, better connectivity, and several upcoming developmental projects that the realty market has not really fallen prey to the current recession and inflation in prices. As the economy here is still standing on its own feet, there are a  number of options available to both a buyer as well as an investor.

Buy, rent or sell residential property in Pune and other Indian cities over real estate portal, Makaan.com. The India property websites offer an intelligent way of going a map-based and list-based search, and allowing the users to get selective results.