Among all the major cities in India, Pune has consistently maintained a reputation of a city known for its good lifestyle & consistent appreciation of property prices. The city was previously known as pensioners paradise, has now transformed into a major IT/Industrial & Commercial Hub attracting thousands of individuals every year. Over the years, Pune has experienced a massive development in both residential and commercial spaces. As on today, parts of East Pune & entire western Pune forms the major Real Estate cloud of the city.
The unique thing that sets Pune apart from the rest of the league is the fact that its mass production of residential property gets complimented by the constant demand of skilled & educated workers/professionals, who wish to make Pune as their permanent home. The rapid growth and development taking place in Pune is constantly pushing the envelop of the real estate market.
The city has been developed in the outskirts, where in the West and the East Zone are the prominent markets for real estate investments in Pune. The western part of the city, popularly known for the Hinjewadi IT-Park and the best-selling localities such as Baner, Aundh, Balewadi, Wakad, and Bavdhan are already developed.
At the same time, the Eastern corridor of Pune is an rising realty hotspot. The development graph of eastern belt provides a mix of both commercial and residential investment opportunities. Emerging IT Parks, Skyscrapers and improved infrastructure has changed the face of East Pune.
Some of the promising localities in Eastern zone are:
|Viman Nagar||Kalyani Nagar||Magarpatta City||Vishrantwadi|
Quality living is among the top reasons why new home buyers are seeking for flats in East Pune. Improved roads and better transport facility has made Eastern Pune easily accessible to almost all the parts of the city. The proximity to railway station, Airport, restaurants, Pubs, IT-Parks, Malls, Educational Institutes, Hospitals, Entertainment Arcade, etc. makes life a little easier in Eastern Pune. Due to its easy access to these luxuries and amenities, the rates here are appreciating. Over the years, East Pune has seen a growth so high which broke the records of any other metropolitan city.
If you are someone looking forward to invest in Pune, here are the top four reasons you must consider East Pune:
Top Reasons to Invest in East Pune
Work Life Balance
The presence of a large number of IT/ITEs companies offer ample employment opportunities driven by the commercial hubs. Some of the popular IT-Parks and commercial hubs in East Pune are;
- Magarpatta City in Hadapsar
- EON IT Park & World Trade Center in Kharadi
- Tech Park One
- Muttha Tower
- CommerZone & Business Bay in Yerwada
- SP Infocity in Phursungi
- Cerebrum IT Park in Kalyani Nagar
- Giga Space & Weikfield in Vimannagar
This rapid boom in the commercial & IT sector has given rise to a large number of migrants and ultimately increased the real estate market of eastern corridor. East Pune promotes the walk-to-work culture offering a great work-life balance and thus, is among the top residential destination in Pune.
Wide Range of Options
As a result of great strides taken in the city’s infrastructural development, Pune has become an attractive location for people to reside. In the past few years, East Pune has undergone a remarkable makeover in the real estate market. One can easily choose from an array of property options available in these locations ranging from affordable to luxurious homes. There are several new projects, which are at various stages of construction offering 1, 2, 3 BHKs & other High end properties.
Moreover, this location is preferred for its walk-to-work culture that ensure a classic work-life balance. This enables the buyers to have the choice of opting for a property in their desired location, offering high-end amenities and facilities leading to a healthy community living. Marvel Realtors, Nyati Group, Rohan Builders, Gulmohar Developments, Kolte Patil, Pride Group, etc. are some of the renowned real estate developers from the East.
Excellent Returns on Investment
While the Mumbai real estate market is saturated, the Pune real estate market has generated 100% returns in the last few years. While in Pune, the Eastern corridor has seen a consistent growth of price appreciation in both rental and capital value across all the locations as compared to the other parts of the city. The property prices here are more realistic and even offer lower ticket size inventory.
Ample of social-infrastructure, well-established retail market and the zone’s proximity to the airport & other important locations of the city makes it a preferred location. Experts also believe that the localities in eastern Pune give good resale value for those who look at this place as an investment option.
For people who are seeking for flats in Wagholi, Hadapsar and Kharadi, the average rate for a residential property in
- Hadapsar is between INR 4,500 – 5,500/sq.ft
- Wagholi is INR 4,300 – 4,500/sq.ft
- Kharadi is between INR 5,900 – 7,500/sq.ft.
Over the past few years the prices in these localities have risen consistently. The following graph will give you the price appreciation over the past few years.
Note: Graph represents weighted average price of residential units available in the primary market
|Location||Average Rate (INR/ Sq Ft)||Rentals For 2BHK (INR/Month)|
|Koregaon Park||15,000 18,000||35,000 40,000|
|Boat Club||14,500 16,500||35,000 38,000|
|Kalyani Nagar||9,000 12,500||25,000 30,000|
|Magarpatta||6,500 7,000||19,000 20,000|
|Viman Nagar||6,200 7,200||18,000 21,000|
|Vishrantwadi||5,000 5,700||15,000 18,000|
|Kharadi||5,900 7,500||15,000 18,000|
|Hadapsar||4,500 5,500||13,000 15,000|
|Kesahvnagar||4,700 5,700||12,000 14,000|
|Wagholi||4,300 4,500||8,000 10,000|
|Phursungi||3,500 4,100||10,000 12,000|
|Handewadi||3,650 4,150||9,000 11,000|
Table Source: PropEquity
Consequently the residential realty market in East Pune has witnessed a significant growth in the past few years, mainly influenced by the growth in the IT sector.
East Pune has undergone a massive infrastructural development by providing
- excellent educational facility
- well connected public transport facility
- uninterrupted power supply
- adequate water supply
- close proximity to airport, etc.
Moreover, the area has been developed by Pune Municipal Corporation – in order to make East Pune a highly desirable location for those looking for flats in Pune.
Locations such as Koregaon Park, Hadapsar, Manjri, Kharadi, Wagoli and Phursungi are easily approachable to the Pune Airport and hence prove to be highly convenient localities. Other important infrastructural development in these localities are as follows;
Colleges in East Pune –
- Parvatibai Genba Moze College of Engineering
- Gh Raisoni Institute of Engineering And Technology
- JSPM’s Imperial College of Engineering and Reserarch
- Bharatiya Sanskriti Darshan Trust – Ayurvedic College
- Bhivrabai Sawant Polytechnic College
- Kautilya Institute of Management & Research
- PDEA Law College
- Metropolitan Institute
- Shankarrao Ursal College of Pharmacy, etc.
Famous Schools in East Pune
- The Lexicon International School
- Jyotirmay International School
- Podar International school
- Rosary School, Pawar Public School
- Vibgyor High School
- Magarpatta City Public School
- Amanora School
- The Bishop’s Co-Ed School
- C.P. Goenka International School, etc.
Renowned Hospitals in East Pune
- Lunkad Hospital
- Sahyadri Hospital
- Noble Hospital
- Dhanvantari Hospital
- Gandhi Hospital
- Columbia Asia Hospital
- Lifeline Hospital
- Imax Multispeciality Hospital, etc.
Prominent Hotels in East Pune – Hyatt Regency, Four Points by Sheraton, The Westin, Radisson, Novotel, etc.
Malls in East Pune – All the major shopping malls of Pune are in Eastern part only which are:
- Amanora Park Town, Hadapsar
- Seasons Mall, Magarpatta
- Inorbit Mall, Nagar Road
- Phoenix Market City, Nagar Road
A Well-planned infrastructure and most importantly, its proximity to the Airport, railway station and the city center makes East Pune as one of the most preferred residential hub. Owing to the demands of the new home buyers who are looking for affordable and luxurious Flats in Wagholi, Kharadi, Phursunghi, Handewadi, etc., these newly developed residential locations are coming up with new promising projects by renowned developers of Pune.
Investing in East Pune can be an opportunity of a lifetime, as you can expect a considerable return in the near future.