From a popular retirement destination to a prominent IT/ITeS hub, the way Pune has metamorphosed is nothing short of remarkable. With several infra-upgrades in the pipeline coupled with its selection for smart city, Pune has lately observed an increased growth velocity. Even many mumbaikar who are looking for flats for sale in Mumbai as investment are now looking Pune as better option.
There is an absolute merit in investing in Pune’s real estate. Thus, let us take a closer look at the prime residential markets in the city that can be considered for an investment.
Major development clusters in Pune should be taken into consideration for residential investments
[Source: QuikrHomes Real Estate Research]
Mundhwa has become the prime place of attraction for residential developments in the city. It enjoys good accessibility to the IT hubs, emerging industrial corridors along with airport and rail terminals. The area is sufficiently populated with social infrastructural amenities in favour of home buyers. Prominent builders in Pune have been actively launching projects in the region turning Mundhwa into a go-to destination for both affordable and luxury residential units. The average residential property price here stands at Rs 5,150 per sq.ft.
Phursungi has come into the limelight recently with the area offering good connectivity to the Hadapsar IT zone along with easy accessibility to the central parts of the city. The market offers good and reasonable affordable options for residential investments in the price range of Rs 3,350 – 5,260 per sq.ft.
Situated in the northern part of Pune, Moshi is seen as the most prominent and strategic market in the Pimpri-Chinchwad Township. Relatively lower residential prices while being in proximity to the Bhosari and Chakan industrial belts have significantly boosted the realty prospects of this area. The average residential property prices here are in the range of Rs 3,430 – 5,200 per sq.ft.
Wakad has been seeing a significant amount of residential launches lately due to the high demand from the professionals working in and around the Hinjewadi and other IT corridors nearby. The average prices of Property for sale in Mumbai and Pune here are in the range of Rs 5,200 – 7,080 per sq.ft. Wakad also enjoy a good inter-city connectivity with Mumbai-Pune Expressway.
Huge IT office consumption in the nearby Hinjewadi IT SEZs has had a profound impact in Pimple Saudagar real estate market. Due to huge employment generation (estimated about 5,00,000 jobs from the Infosys 6,20,000 sq.ft establishment to come up at Hinjewadi Phase III), housing demand here has been constantly growing and is also expected to grow further in the times to come. The average residential property prices here vary between Rs 5,720 – 7,530 per sq.ft.
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