Which locality in Pune provides the best residential value?
With time Pune has been transformed into a busy metropolis place, grabbing attention of professionals from all over the country due to its educational institutes, and burgeoning IT industry, pleasant climate and overall good quality life. Due to all these factors the real estate market has skyrocketed in this city, making it difficult for home owners to choose which locality will be suitable for them.
In this blow we will talk about the residential localities in Pune, know about their connectivity and infrastructure, amenities, social environment and real estate prices.
Key factors impacting residential value
Before knowing about the localities, you must understand the factors that define ‘residential value’. Of course the impact of Pune Metro Expansion on residential real estate will be huge, but apart from this there are some more factors to consider. Below are some of them:
- Vicinity to employment hubs: The localities in pune which are closer to business centers enjoy greater demand. Pune is known for many IT hubs and educational institutes that significantly impact its real estate value.
- Infrastructure development: The localities with excellent roads, water supply, public transport and other amenities are in more demand and their prices will be high.
- Accessibility: The residential value also depends on the neighboring towns and cities. Well-connected areas have better value for money.
- Security and Safety: Safety and general ambiance of location also matters a lot. Whether the area is quiet, or bustling- are the two important considerations for potential residents.
- Greenery and open space: Areas that have proper balance between urban development and green space often remain in higher demand and can cater pleasant living experience to residents.
- Affordability: The per foot price in a locality, connectivity, amenities and quality life are some of the factors that determine the residential value.
Now, let’s talk about some of the booming places of Pune where you can get the best residential value.
Bavdhan
Bavdhan is known for its balanced environment, with both residential and commercial complexes.
Why Bavdhan has great residential value?
- Established Neighborhood: Bavdhan is good for middle-class families and professionals and is full of apartments and independent houses.
- Close to employment hubs: The locality has good connectivity with Pune’s IT hub and other business areas, thus making this place a desirable choice for working professionals and education sectors.
- Amenities: Bavdhan is near a number of facilities, including shopping centers, schools, parks, dining options, and medical facilities. Thus residents can avail both peaceful lives with modern convenience.
- Green spaces: The area is full of lush green surroundings, catering a healthy and screen living environment to residents.
Bhugaon
Bhugaon is next location in Pune which is gaining popularity in real estate purchase because of its well-connectivity with places like Bavdhan, and Kothrud. The renowned Hinjewadi IT Park is approximately 17 km from Bhugaon and IT professionals can cover this distance easily through Highway. Another reason to buy house in Bhugaon is its proximity with Dehu Road. This road allows people to commute easily without encountering much traffic. Also the Mumbai-Pune expressway is close to Bhugaon, allowing people to approach Mumbai easily.
Why Bhugaon has great residential value?
- The linking Paud Road has been extended by 180 feet.
- People can easily commute to Kothrud, Bavdhan and Hinjewadi from Bhugaon, which are commercially well-developed localities.
Hinjewadi
Hinjewadi is another most prominent area of Pune as it has largest IT Park. Many young professionals working in this area prefer to reside in Hinjewadi. Most of the big companies have their head office in Hinjewadi, thus making this place an ideal one for the working professionals.
Why Hinjewadi has great residential value?
Close to IT Hub: Because of its proximity to all IT companies and the IT Park many professionals prefer to reside here due to shorter commute.
Affordable housing: As compared to other locations like Koregaon Park or Kalyani Nagar, the residential prices in Hinjewadi are comparatively less. This makes it possible for young professionals or small families to get affordable homes.
Future Growth: Hinjewadi will continue to experience rapid growth in infrastructure that includes road widening, social amenities, public transport etc. This will make this location an ideal one for long-term investment.
Conclusion
Apart from the three locations mentioned above some other booming locations of Pune are Baner, Pimple Saudagar, Koregaon Park, Wakad etc. Pune has multiple localities where home buyers can buy property as per their budget and requirements. However, the localities mentioned above can cater you a comfortable living experience and can meet your long-term financial goals.
So, if you are planning to buy a property in Pune, look for the areas mentioned above to get a good deal as well as return over investment.
