This article talks of the various areas in Pune where IT professionals can live to walk to work.
Out of all the areas, East Pune has witnessed a steep increase in property demand and rates. Most of this increase can be attributed to the IT sector concentrated here. The job opportunities are ample which has spurred the demand for residential properties. Compared to other east Pune neighbourhoods, Kalyani Nagar, Viman Nagar, Kharadi and Hadapsar seem to be doing better.
1. Kalyani Nagar
Real estate in Kalyani Nagar shot up after companies developed their bases here. Home buyers prefer the area for its strategic location between Viman Nagar and Koregaon Park and the Mumbai Pune Expressway. Among Pune localities, Kalyani Nagar has been developed the quickest. The Aga Khan Bridge was constructed to ease communication between Koregaon Park and Kalyani Nagar. The area is home to several expats and senior level management executives.
Pune real estate in Kalyani Nagar has a capital value of Rs 8500 per sq. ft. The prices of 2BHK apartments can increase up to Rs 10 crores even!
2. Viman Nagar
Those buyers looking for investment options in cosmopolitan areas should consider Viman Nagar. It serves the needs of both non locals and locals and developers are coming up with new property in Pune in this area. The expanding IT sector of the area has seen the arrival of a large migrant population. Those wanting to live close to the Pune Airport also choose this area as it is only half a kilometre away. The average property price in Viman Nagar is around Rs 7000 per sq. ft. For a 2BHK apartment, you would have to pay anything from Rs 25 lakhs to Rs 3.5 crores.
All these neighbourhoods are preferred by the IT crowd, whose size is growing exponentially almost every year.
Easy access to several neighbourhoods of Pune has boosted development of the area. There are several pharmacy, manufacturing and automobiles companies that have been proposed for the area in the SEZ that is under construction. The Bangalore-Mumbai Infrastructure Corridor passes through the area which is a further boost to it. Commercial properties, educational institutions and healthcare facilities have been constructed n the area which has furthered the possibilities of development.
Currently, Pune property prices in Kharadi hover around Rs 6000 per sq. ft. and units are available from Rs 25 lakhs to 5 crores in the area.
Being in close proximity to the Magarpatta IT hub, the walk to work culture is most prominent in Hadapsar. It is around 5 kilometres from Magarpatta City and auto rickshaws can be availed for commuting to the area. The social infrastructure of the area has also improved over the years. Hadapsar has round the clock availability of water and electricity and is less expensive than areas such as Magarpatta, Camp and Fatimanagar. It enjoys good connectivity through the NH9. Those looking for affordable properties in East Pune choose Hadapsar.
Property rates in Pune Hadapsar are around Rs 5200 per sq. ft. Therefore, 2 BHK apartments can be availed for anything between Rs 20 lakhs and 4.5 crores.