Pune is a big city with plenty of apartments, villas, bungalows, and farmhouses. When looking for a home in Pune, one can easily become perplexed because the housing alternatives are as diverse as the city’s residents’ preferences. So, what should you think about when buying a home in Pune?
Manoj Gupta, CMD, Mahalaxmi Group in Pune, aptly summarises it for newcomers. “These four A’s help make the process of locating the suitable property much easier: Aim, Area, Amount, and Application. This means that as a buyer, you should understand why you want to buy a property and what you hope to get out of it. Also determining the place that best suits your lifestyle, finalizing the budget, and adhering to all regulations are all important aspects of the process.”
Areas like Kharadi, Viman Nagar, Magarpatta, Hinjewadi, Aundh, and Koregaon Park may suit you best if you are a migrant who has migrated to Pune for a job. The people that live in these locations are diverse and cosmopolitan. Furthermore, because many migrants live in these neighbourhoods, these places are suitable for renting out.
Similarly, if you are a Maharashtrian who likes to be close to the city’s centre, locations such as Bavdhan and Sinhagad Road, among others, would be more suitable. Furthermore, each site has its own environment and lifestyle, which is strongly tied to the third basic part of the process.
Here is Pune’s residential development profiling to help you understand the geography better:
Based on the number of residential project launches in 2017, 2018, 2019, and 2020, the following sub-markets have been selected as Pune’s top residential hotspots.
A) Northwest: These are modern residential developments from the late 1990s to the present. Due to the development of Hinjewadi’s IT Park, these areas primarily became residential zones. The population here is primarily upper MIG and HIG.
B) Northeast: The population profile is a combination of HIG (Kalyani nagar), upper MIG (Viman nagar), and MIG (Kalyani nagar) (Kharadi). Dhanori, Charoli, and Wagholi are newer projects with demand spilling over from Viman Nagar, Nagar Road, and Kharadi. The IT offices, hotels, and airport, as well as the proximity to the city centre, all contribute to high residential demand.
C) Southwest: In the 1980s, the Southwest residential areas grew, with Kothrud being the fastest expanding suburb in Asia at the time. The people who live here are mostly from the middle class. This region is now developing as an anticipated residential hotspot, attracting residents mostly from the Hinjewadi commercial hub.
D) Southeast: Due to their proximity to the Pune cantonment’s major sections, they have primarily developed. Magarpatta is the city’s first township development, including more than 400 acres. The majority of ex-army soldiers in this area find it convenient to invest in a residential property.
People from outside the city should consider buying houses in places like Koregaon Park, Bibvewadi, and Central Pune, which have well-developed infrastructure, numerous hospitals, schools, and entertainment hubs. However, villas and flats in Pune in these places are a little pricey.
Home seekers can also choose Kharadi, Hinjewadi, and Magarpatta, which are close to IT hubs and other businesses and offer reasonable housing. Wagholi, Ravet, Undri, Talegaon, Tathwade, and Wakad are all wonderful places to live on the outskirts of Pune. From an investment standpoint, B.T. Kawade Road is another excellent choice for home buyers. These areas have a lot of potential for both capital appreciation and rental revenue.
In comparison to other Indian metropolises, real estate in Pune is reasonably priced. Homebuyers and investors come from all over the country and the world to invest in the city. You may have a variety of reasons for relocating to Pune and purchasing a home there. People relocate to this city for a variety of reasons, including education and employment possibilities in the IT, manufacturing, and automotive industries.
Pune, in comparison to other metros, has a wide range of housing options, including 1 BHK flats, 2 BHK flats, 3 BHK flats, and affordable to luxury homes. Furthermore, the city provides outstanding infrastructure.
A flat can be purchased for as little as Rs 30 lakh or as much as Rs 8 to 10 crore. To put things in context, per square foot costs or flat rates in Pune in popular locations like Kharadi, Wakad, and Hinjewadi range from Rs 4,632 to Rs 6,418. The price ranges between Rs 4,165 and Rs 6,162 per sq ft in regions like Bavdhan and Sinhagad Road. So, once you’ve decided on a budget, start looking for alternatives.
In general, from the perspective of a newcomer, the paperwork required to buy a flat in Pune is similar to those required in other states. Title Deeds, No-Objection Certificates, and Sale Agreements are all important documents. And if you are looking for a worry-free home in Pune with all the necessary amenities, end your search at Zen Estate Kharadi.
One of the best new flats in Pune, Zen Estate apartments were created to lift the bar on ordinary life to new heights. Zen Estate is a great place for modern living, with branded fixtures, a safe gated community, riverside homes, quiet architecture, and 25+ incredible amenities.
To know more about Zen Estate, Kharadi, Pune, visit www.zenrealtyindia.com.