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Pune Localities With The Highest Price Appreciation

Pune Localities With The Highest Price Appreciation

Pune Localities With The Highest Price Appreciation

Pune is not only a regular homebuyer’s dream destination. It is also quite popular as a retirement home and second home destination. This is why the demand for property in this city refuses to hit the lows that were recently seen in other mega cities. 

“There is no slowdown to speak of if we talk about the mid-range, ready-to-move-in properties. Properties within Rs 50-lakh budget are moving fast in the city. Investments are mostly done with a view to earn a rental income or purchase second homes,” says Kailash Mhatre, a real estate consultant active in central and south Pune property market.  Price appreciation, adds Mhatre, has also been healthy, driving the demand further. 

Since price appreciation is a key criterion based on which investors put in their money in a city, let us try and find out which are the areas in Pune that have seen the most upward movement in the recent past, as per data available on Makaan.com.

Hinjewadi: Divided into three phases, Hinjewadi is known for the Rajiv Gandhi IT Park, which employs thousands of people and generates huge demand for rental housing. With the Metro construction underway here, property prices are expected to go upwards. The Metro would not only be a connectivity boon but also solve traffic problems in the area. The Metro would start from the Megapolis in Hinjewadi Phase-III and would connect other phases with Shivaji Nagar via Wakad, Baner, Balewadi and Agriculture College.

Price appreciation in the last six months: 7.76 per cent

Total projects: 239

 

 Unit                                      Price range                                   Monthly rent

1BHK

Rs 16-40 lakh

Rs 11,000 onwards

2BHK

Rs 30-50 lakh

Rs 15,000 onwards

 

Mundhwa: Also known as the Koregaon Park Annexe, Mundhwa is a posh locality in the east, lying close to the IT hubs of Hadapsar and Kharadi. The area lies in proximity to the new airport road which makes it a desirable location for people who are frequent flyers. There are a number of international schools as well as medical facilities in the area, making it a perfect fit for family living. The area is known for its upmarket housing societies. Some new luxury projects are also coming up in the area.

Price appreciation in the last six months: 7.37 per cent

Total projects: 199

 

 Unit                                      Price range                                   Monthly rent

1BHK

Rs 25-68 lakh

Rs 17,000 onwards

2BHK

Rs 39-95 lakh

Rs 20,000 onwards

Hadapsar: This highly green area has gated residential complexes and IT parks. Though densely populated, Hadapsar is one of the affordable locations in Pune for those employed in the surrounding areas. There are some of the popular shopping malls as well which serve as the entertainment hub for the office-goers. It is one of the well-developed areas with the presence of many reputed hospitals and schools and lies in close proximity to Magarpatta City and the Pune railway station. 

Price appreciation in the last six months: 3.65 per cent

Total projects: 690 

 Unit                                      Price range                                   Monthly rent

1BHK

Rs 15-44 lakh

Rs 16,000 onwards

2BHK

Rs 32-63 lakh

Rs 25,000 onwards

 

Wagholi: This area is home to a large number of new residential and commercial complexes. However, the fact that the area falls under the gram panchayat makes buyers wary. If media reports are to be belived, Wagholi would soon be merged with the Pune Municipal Corporation. Since it is one of the main entry and exit points in Pune, the area is also likely to be joined in the Metro network.

Price appreciation in the last six months: 2.46 per cent

Total projects:  420

 Unit                                      Price range                                   Monthly rent

1BHK

Rs 13-46 lakh

Rs 6,000 onwards

2BHK

Rs 31-70 lakh

Rs 8,000 onwards

Wakad: Located in north Pune, Wakad comes under the Pimpri Chinchwad Municipal Corporation. The commercial development of this locality has given way to residential demand in the area. The presence of wide roads, public transport and a number of reputed international schools make Wakad a great locality for families. There are a number of mini shopping complexes in the area that also serve as the entertainment hub. This area is also hailed as the education hub in Pimpri-Chinchwad as it houses a number of engineering and management colleges. 

Price appreciation in the last six months: 1.52 per cent

Total projects: 560

 

Unit                                       Price range                                   Monthly rent 

1BHK

Rs 30-49 lakh

Rs 15,000 onwards

2BHK

Rs 52-71 lakh

Rs 18,000 onwards

Last Updated: Wed Sep 04 2019

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