Buying 1BHK Flat in Pune for Great Returns
Proximity to Mumbai and a thriving education, engineering, automobile and IT scene have accelerated real estate activity in this once sleepy city. The Mumbai-Pune Expressway has made Pune a much sought-after location for out-of-town investors, while year-round good weather makes it a preferred destination for homebuyers.
“In the last five years, the Pune real estate market has gone from an average performing one to one of the best performing,” says Shantanu Mazumder, Director-Pune, Knight Frank India.
Pune offers properties catering to end users as well as investors at various price points. Prices start at Rs 15 to Rs 30 lakh in the affordable segment. The premium segment starts at Rs 1.3 crore and luxury projects can cost up to Rs 2.5 crore. Vishrantwadi, Dhanori, Kharadi and Whagoli in east Pune and Wakad, Hinjewadi, Ravet and Tathawade in the west are the upcoming areas to scout in.
Metro Rail: Pune Metro Rail Corridor I, connecting Pimpri-Chinchwad, Shivajinagar and Swargate, will enhance connectivity between north and south Pune, once ready. The second corridor, between Ramwadi , Pune station and Vanaz, will solve the heavy traffic issues on the east-west route. Both corridors are expected to be completed by 2020.
Bus Rapid Transit System: With over 600 special buses, the Sangamwadi-Vishrantwadi Corridor and the Sangvi-Kiwale Corridor in Pimpri Chinchwad became operational last year. Routes between Nashik Phata and Wakad, Nigdi and Dapodi and Nagar Road will be completed this year. The Kalewadi Phata to Dehu Alandi route will be operational by 2017.
International airport: The Lohegaon airport cannot serve international traffic of more than 3 to 4 flights a day. Hence, a new international airport is being developed 14 km west of Rajgurunagar, which would be connected by the Metro.