AREA FOCUS - HAPPENINGS HUBS

May 07 2016 : The Times of India (Pune)

Sneha Sharon Mammen (Magicbricks Bureau)





East Pune's realty has grown, thanks to the IT hubs and the numerous employees working there

Housing demand is a product of job opportunities cou pled with well-to-do social infrastructure. The growth of East Pune's realty is undoubtedly because of the IT hubs and the numerous employees that they have. Popular areas in the East include Hadapsar, Kharadi, Viman Nagar and Kalyani Nagar.Here's a sneak peek.
HADAPSAR
This area exemplifies the walk-towork culture with the Magarpatta IT hub no farther than five kms. Topping it all is the social fabric that has emerged in recent years. Ravi Das, city-based realtor at Welworth Properties, says, “Be it affordability as compared to established areas like Fatimanagar, Camp or Magarpatta or for reasons kike good water supply and connectivity via NH9, Hadapsar gains in homebuyers' preference.“ Apart from those working at Magarpatta, the locality is favoured by those employed at the Ranjangaon industrial estate.
KHARADI
Smooth accessibility has led to development of the locality in terms of job opportunities. Reputed developers have realised the potential of this locality and made a gradual presence.Automobile, manufacturing and pharmacy companies have also been planned to set base in the special economic zones that are soon to come up, fostering the growth of new micro-markets. The Mumbai-Bengaluru Infrastructure Corridor is a further boost. More so, as Rahul Gholap of Shivam Enterprises puts it, “The expressway to Mumbai and the townships alongside are also budding realty pockets.“ With such growth comes healthcare facilities, commercial outlets and educational institutions that further the scope of development.
At present, capital values here are estimated to be Rs 5,700Rs 6,200 per sq ft.
KALYANI NAGAR
Much of the push that property prices received was because of companies that have set base here. Homebuyers have been attracted to this area because of its strategic positioning between Koregaon Park and Viman Nagar and the PuneMumbai expressway.
Vishesh Raj, realtor at Sreeraman Properties, says, “By far, the development in Kalyani Nagar has been the fastest. Government's initiative in linking Kalyani Nagar-Koregaon through a bridge has facilitated retail growth. Also, the belt is home to expats and those employed in the senior rung of management in the nearby offices.“
With capital values estimated to be Rs 7,500-Rs 8,200 per sq ft, the price of 2BHK units could go up to Rs 10 crore.
VIMAN NAGAR
The area banks on its cosmopolitanism and caters to needs of the crowd comprising non-locals as well as local residents. Developers are coming up with projects while the commercial front is also getting a boost. Thanks to the expanding IT front, the locality is open to immigrants. Frequent flyers also enjoy the proximity to Lohegaon Airport. Vishnu Amte of Parikshit Properties says, “Properties close to the IT parks are actively transacted both in terms of capital and rental markets.“
At Viman Nagar, the average price is Rs 6,500-Rs 7,300 per sq ft. A 2BHK unit here would cost you anywhere between Rs 25 lakh and Rs two crore.
One can also bank on these localities for capital appreciation and ease of commute.