Looking For Property In Pune? These Areas Are Biggest Suppliers

Looking For Property In Pune? These Areas Are Biggest Suppliers

Looking For Property In Pune? These Areas Are Biggest Suppliers
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Those living in Pune have the best of both worlds. On one hand, they are able to enjoy all things modern. On the other hand, they are surrounded by this cultural capital of Maharashtra's old-world charm. It is just the perfect balance. Additionally, emerging areas of this city provide you with an opportunity to grow your money. In case you have been nurturing thoughts of buying property here, these are the areas where you would find plenty of options, data available with Makaan.com show.

Wagholi: In a fast-developing city such as Pune, Wagholi is exactly the location for those looking for a quiet life and open spaces. As a result of this, this old locality, which has a score of 8 on a scale of 10 on Makaan.com's Liveability Index,  is quite popular among those looking for retirement homes. Since this locality also has concentration of BPOs and educational institutes, the demand for Wagholi among the working population is equally high—data show Wagholi records the highest number of home searches in Pune. Incidentally, this is also the locality which has the highest number of properties listed for sale. In case you are interested, you would find a great range. You could buy a 1BHK home for as low as Rs 10 lakh while prices may go up to over Rs 2 crore, too. Similarly, some 2BHK unit may come for Rs 18 lakh, others may cost you multiple crores. Average rate of property in this locality is Rs 4,800 per square foot (psf).

Viman Nagar: This is a locality of high-rises and a well-established social infrastructure, hence the impressive liveability score of 9.2. Resultantly, rates of property in this area ─ Rs 8,100 psf ─ are slightly on the higher side when compared to average rate of property in Pune---Rs 7,800 psf. But, this should not stop you from nurturing the thoughts of buying a property here. Apart from the fact that Viman Nagar is the second locality that has the highest number of property listings, the range of budget-sizes is quite broad, too. While you may have to shell out Rs 10 crore to buy a 3BHK unit here, you could also secure a 1BHK home for Rs 35 lakh. In case you want to go for a 2BHK home, Rs 55 lakh should be enough for you to be able to buy an abode here.

Kalyani Nagar: This is one salubrious place to live in, with a liveability score of 9.7. Naturally, this is one of the most popular localities among buyers in Pune. Homes are bought in the locality with a view to enjoy world-class infrastructure that Kalyani Nagar, named after famous industrialist Neelkanth Kalyani, provides. The well-developed civic-socio infrastructure that pushes the demand for Kalyani Nagar property has also resulted in prices moving upwards—average rate of property at Kalyani Nagar is Rs 12,000 psf. However, there is no need to lose heart if you do not have that kind of budget. You could buy a 1BHK home at Kalyani Nagar, which offers a large number of options, for Rs 40 lakh, too. By spending an additional Rs 10 lakh, you could afford a 2BHK also. Rates of a 3BHK can, however, go as high as Rs 10 crore.

Let us also look at which other localities which offer buyers a good deal of options:

Locality           Liveability score (on a scale of 10)              Average rate 

Baner                            9.1                                                        7,900

Koregaon Park            9.5                                                        12,500

Hadapsar                      9.4                                                        6,300

Wakad                           9.4                                                        6,600

Bavdhan                       8.1                                                        6,800

Balewadi                      8.8                                                        7,200

Hinjewadi                     8                                                          5,400

Source: Makaan.com

Where is the demand concentrated?

As mentioned earlier, Wagholi is the place that offers buyers the highest number of options, and it is also the locality which sees the biggest number of home searches on Makaan.com. The second and third most in-demand localities are Hadapsar and Hinjewadi. Both the localities are primarily in demand for their affordability (as indicated by average rates mentioned above) and the good prospects as investment options. Both these localities have high concentration of Pune's working population. By investing in property in these areas, you ensure yourself a handsome monthly rental income.                                               

Let us now look at other top localities where the demand for property is high in Pune.

Locality            Liveability score (on a scale of 10)    Average rate 

Kharadi                        8.9                                                 6,700                                       

Baner                            9.1                                                  7,900

Ravet                            8.1                                                   6,400                                       

Moshi                           7.9                                                   4,400                                       

Pimple Saudagar         9.4                                                        6,800                                       

Bavdhan                        8.1                                                        6,800

Kothrud                         9.2                                                        10,900             

Source: Makaan.com

 

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