Kalyani Nagar and Kothrud race ahead in Property price appreciation in Pune - MakaanIQ

Kalyani Nagar and Kothrud race ahead in Property price appreciation in Pune - MakaanIQ

Kalyani Nagar and Kothrud race ahead in Property price appreciation in Pune - MakaanIQ
The Pune real estate market consists of a decent mix of end use and investor interest. In an attempt to update & inform real estate investors regarding areas that have appreciated the most, Makaan.com, the fastest growing property website in India, conducted a research during the month of May 2012. The research tracked residential property prices in April-May 2012 and compared them with the corresponding figures for last year. The study was conducted across 5 major cities – Delhi NCR, Mumbai, Bangalore, Pune and Hyderabad. The research for Pune was conducted among 56 key localities. Here are some findings of the research. Localities that have appreciated the maximum (see infographics below) belong to different areas of Pune.
Top three positions are occupied by Kalyani Nagar, Kothrud and Wagholi respectively. Kalyan Nagar has topped the list of areas that have appreciated the maximum with an appreciation of 27%. With the emerging IT parks and business houses around Kalyan Nagar and growing commercial establishments like shopping malls and food joints, it has emerged as a favourite residential destination. The locality is very close to Pune Airport and railway station. Kothrud, a suburb in the south west Pune comes next with 26%. This locality has become the second favourite locality owing to its proximity and good connectivity to the industrial area of Pune. Wagholi comes next with 24% appreciation. Wagholi offers a wide range of residential projects with better space management and cleaner environment in affordable prices.
Other key localities like Koregaon Park, Talegaon, Baner, Magarpatta, Kharadi, Aundh have made it to the list of areas that have appreciated the most. They have appreciated by 19%, 18%, 18%, 17%, 15% and 15% respectively.
Top Ten Localities in Pune with Maximum Price Appreciation
Locality

Average Property Prices in psf

April-May 2011

Average Property Prices in psf

April-May 2012

%

Appreciation

Kalyani Nagar 6043 7668 27
Kothrud 5438 6871 26
Wagholi 2648 3296 24
Koregaon Park 6483 7738 19
Talegaon 2185 2583 18
Baner 4436 5224 18
Magarpatta 4815 5629 17
Kharadi 3743 4316 15
Aundh 5639 6461 15

Commenting on the findings Mr. Aditya Verma – COO, Makaan.com says “This research reinforces the fact that property prices play an important role in the overall buying psyche, but people are willing to pay a premium for good infrastructure, superior connectivity and consumer convenience. The spread of localities from different areas of Pune is a strong evidence of this”.

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