Pune, also known as the "Oxford of The East", given the presence of major educational hubs in the city, has massively evolved. What was once a learning center is now a buzzing city filled with IT and a thriving property market. Nestled in the Sahyadri Hills, Pune mixes history, pleasant weather, and vibrant culture. This blend draws in both house hunters and investors. But let's take a closer look at Pune's real estate before we leap in.
Different from many cities in India, Pune's property market put up a strong defense against the virus’s effects. In truth, 2022 witnessed a noticeable surge in bigger homes, fitting the growing population choosing to work remotely. This unique shift, mixed with a fresh fascination for high-end apartments, creates a hopeful outlook for coming expansion.
Pune's speedy growth is linked to government actions. They draw big businesses and improve connections, supercharging the real estate scene. More metro lines, expressways, and highways are being built, making Pune easier to reach and broadening its prospects.
Being the 2nd largest city in Maharashtra, Pune’s charm goes beyond property. Its universal atmosphere, perfect weather, top-notch social and physical infrastructure, and rapidly growing educational and employment opportunities make it one of the country’s top-rated cities for living. This habitability factor will witness a large influx of migrants, pushing the construction of residential projects in the surrounding area to meet growing demand.
Isolated apartment complexes are a thing of the past. The post-pandemic phase has shifted its focus towards integrated townships and gated societies, offering a holistic living experience with amenities such as security, fitness hubs, and verdant lush green spaces. This fad is here to stay, with integrated townships emerging as the first choice for homebuyers. Pune has indeed cemented its place as being the most sought-after realty destination. Let’s look at Pune City’s area-wise segmentation:
Significant Locations: Pimpri-Chinchwad, Pradhikaran, and Ravet (Located within Pimpri-Chinchwad)
Major Highlights:
Major localities within this area are Chinchwad, Pimpri, Nigdi, and Akurdi.
Areas such as Kalewadi and Bhosari lie on the Pune-Mumbai Highway (NH-48), making Pimpri-Chinchwad one of the biggest industrial hubs in Asia.
Pimpri Chinchwad New Township Development Area, also known as Pradhikaran, is a well-planned township with its area divided into various sectors and is governed by Pimpri Chinchwad Municipal Corporation.
Lying in the serene Nigdi Pradhikaran area is the Akurdi Railway Station of the Pune Suburban Area. Nigdi has good connectivity to Pune city by rail and road.
Ravet is considered the “Gateway to Pune” as the Mumbai-Pune expressway ends here.
Some of the prominent builders from the North Pune Region are - Kohinoor Group, Rama Group, and Pharanade Spaces.
Driving Factors of Growth:
Easy accessibility to Technology Park
Due to its affordability and project launches, Ravet has witnessed monumental development—Talawade, IT Sector (Hinjewadi), etc.
Major industrial hubs situated in the Talegaon and Pimpri-Chinchwad Municipal Corporation have bolstered and will continue to support real estate development in the Pimpri-Chinchwad area.
Brilliant infrastructure and connectivity to Central Pune are the key benefits of staying in this area.
Significant Locations: Aundh, Belawadi, Baner, Bavdhan, Hinjewadi, Kothrud, Pashan, Pimple-Saudagar, Wakad
Major Highlights:
The Aundh region is divided into Old Aundhgaon and the surrounding suburban areas (Balewadi, Baner, Pashan, Wakad, and Vishrantwadi) etc. Popular areas are Sindh Society, National Society, Parihar Chowk, Anand Park, Ashiyana Park, Gaikawad Nagar, etc., all lying along the University Road.
Aundh has emerged as one of Pune’s upmarket and bustling areas.
Paud Road and Kothrud are conventional Maharashtrian and attract a similar clientele.
Kothrud stretches till Warje on Karwe Road, till NDA Road in Paud Road.
Kothrud, being an extension of Aundh, has excellent connectivity to the Pune-Bangalore Highway.
Post the inception of the Rajiv Gandhi IT Park in the mid-1990s, Hinjewadi (A rural region in Pune) started to develop. Key players like Cognizant, Infosys, WIPRO, etc., have also set up their centers in Hinjewadi.
Some of the prominent builders from this region are Vilas Javdekar Developers, Kunal Group, Puranik Builders Pvt Ltd., Kolte Patil Developers Ltd., Lodha Group, Kohinoor Group, VTP Builders, and Saheel Properties.
Driving Factors of Growth:
Good connectivity to the Rajiv Gandhi IT Park and the Mumbai-Bangalore bypass has bolstered the real estate activities in the region.
Aundh has witnessed a lot of development in recent years. The locality is well-equipped with Public transportation. Furthermore, residential prices have also seen a significant surge, provided for by IT professionals.
Pashan and Baner are situated on the outskirts of the IT Park at Hinjewadi and the Mumbai-Bangalore Highway.
Terrific transactions of residential abodes are witnessed in Kothrud, provided its brilliant architecture and rich cultural legacy.
Significant Locations: Bhosale Nagar (A sub-locality in Ashok Nagar), Deccan Gymkhana Area, Model Colony, Prabhat Road, Shivaji Nagar
Major Highlights:
Prabhat Road connects the Law College Road to the Karwe Road. The area is majorly residential, but the Deccan Gymkhana area has emerged as a thriving business hub.
Land availability in the central part of the city is limited, but traditional areas like Prabhat and Bhandarkar Road have very few areas conducive to development.
As compared to other regions in the city, there are no crucial housing developments other than standalone buildings. However, there are multiple hospitals, government buildings, and courts nearby.
Some of the prominent developers in this region are Pinnacle Group, Alliance Developers, Rachna Lifestyle, Vilas Javdekar Developers, and Oxford Group.
Driving Factors of Growth:
Shivaji Nagar is very close to the Pune Railway Station and is home to corporate giants such as L&T Infotech and institutes like the Indian Institute of Planning and Management.
Deccan Gymkhana area is a cultural district and home to many art galleries, theatres, and cinema halls. It also comprises Jangali Maharaj Road, Fergusson College Road, University Road, Law College Road, and Senapati Bapat Road.
Significant Locations: Hadapsar, Kalyani Nagar, Kharadi, Koregaon Park, Wagholi, Viman Nagar
Major Highlights:
Koregaon Park, along with Boat Club Road and Bund Garden, are the most upper-class residential areas of Pune.
Viman Nagar has now turned into Pune’s finest location with many exclusive and uber-luxurious residential properties, IT Parks, hotels, and educational institutes. Moreover, it is very well connected to the central Pune region. Also, its reputation as the most preferred area is due to its proximity to the airport.
Significant retail development took place here in the form of Phoenix Market City, Amanora, Inorbit Mall, Koregaon Park Plaza, Magarpatta Mall, and G Corp Pulse Mall featuring all the Lohegaon has good connectivity to Viman Nagar and Kalyani Nagar via VIP Road and other parts of the city.
The emergence of Hadapsar and Kharadi as the most preferred IT/ITES location.
This part of Pune is home to top hotels such as Taj Blue Diamond, ‘O’ Hotel, Westin Hotel, and IBIS Hotel in Koregaon Park, The Hyatt Regency, Four Points by Sheraton, and St. Lauren in Viman Nagar.
Some of the prominent builders from this region are Marvel Realtors, Mantra Properties, Kumar Properties, Panchshil Realty, Nyati Group, Vascon Engineers, and BrahmaCorp.
Driving Factors of Growth:
Viman Nagar is close to the airport and other parts of the city.
Kalyani Nagar, located on the outskirts of posh localities such as Koregaon Park, Boat Club Road, and Mangaldas Road, has already emerged as a prime location for residential projects.
Mundhwa offers a fantastic blend of cosmopolitan crowds and is also close to Koregaon Park and MG Road, which are situated in Pune’s Camp area.
The Camp area is very close to the Railway Station, public bus stand, good infrastructure, and commercial offices, and it is the most in-demand location in East Pune.
Significant Locations: Ambegaon, Katraj, Kondhwa, Parvati, Salisbury Park, Sinhagad Road, Mohammadwadi Road, NIBM, Wanowrie
Major Highlights:
Sinhagad Road is home to the Institute of Armament Technology (IAT) and the Sinhagad Institute.
Mohammadwadi, enveloped by hills with scenic beauty, has beautiful bungalows.
Kondhwa is an important residential area. While the area towards Katraj is mainly known as a low-cost housing destination. Meanwhile, the area towards Wanowrie and NIBM is home to premium housing options.
DSK Group, Amit Enterprises Housing Ltd, and Mittal Group are some of the prominent developers in South Pune.
Driving Factors of Growth:
With the Bangalore bypass and expressway running parallel to each other, Ambegaon has acquired a new facet. Ambegaon is tactically located and offers excellent connectivity to Katraj, Sinhagad Road, and Kothrud.
Given the fact that Kothrud in West Pune has become a premium location, people have started moving towards Sinhagad Road and the Ambegaon Area.
Property prices in the Sinhagad region continue to witness a surge.
Katraj is home to some of the most prominent educational institutes, such as Bharti Vidyapeeth Dental College and Rajiv Gandhi Institute of IT and Biotechnology.
The real estate market in Pune has become conscious of the ‘Green Housing’ concept, with the Pimpri Chinchwad Municipal Corporation (PCMC) became the first municipal corporation is the first municipal corporation in the country to have introduced a green housing initiative (2011). Furthermore, there are national (IGBC & GRIHA) and global (LEED) standards to gauge green housing, which are monitored by independent bodies to make sure that environmental safety and conservation standards are maintained.
Pune’s example highlights how fast a city can grow through several growth drivers. To learn more about Pune’s top residential properties, click here.
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