Pune has always been one of the hottest property destinations in India. It’s touted as an ideal Indian city that offers a perfect amalgamation of urban city establishment and rustic old world charm.
Thanks to the development of thousands of IT establishments, the city offers ample of growth and employment opportunities to young aspiring professionals. The demand of affordable residential property in Pune has also been on a steady rise. However, due to the ongoing global pandemic, there has been a slight shift in the needs and demands of property buyers in Pune. Localities that were once considered as the property hotspots in Pune have slowly slipped down and have given way to various micro-pockets, which have seen a unique pattern of growth and demand.
So, if you are looking forward to buy property in Pune but are wondering which is the best place to buy a property in Pune, read on. In this article, we have listed the top 7 residential property destinations in Pune and also the type of projects these localities offer.
#1. Hinjewadi
The largest IT hub of Pune, Hinjewadi has always been recognized as the best place to buy property in Pune. With dozens of MNCs, including Infosys, Cognizant, Wipro and more, lining the area, Hinjewadi is also one of the most developed suburbs of Pune. Well connected and populous, the locality offers multitude of residential options for home buyers.
The locality has residential apartments in all size and range, right from 1BHK to 4BHK and are available in the price range of Rs 35 lakhs to Rs 95 lakhs.
#2. Wakad
After Hinjewadi, Wakad is next most sought after residential real estate destination for home buyers in Pune. Located at Pimpri-Chinchwad, this suburb offers easy connectivity to various civic and social infrastructures within the city. Wakad lies close to the Mumbai-Pune Expressway and is soon going to be a part of the Pune’s Metro rail network.
Loaded with world-class amenities and infrastructural facilities, there are a number of premium, affordable, and low-budget residential apartments for sale in Wakad. Ready-to-move as well as under-construction, these residential apartments are available in the price range of Rs 30 lakhs to Rs 1.15 Cr.
#3. Shirgaon
Located just next to the Mumbai-Pune Expressway, Shirgaon is quickly becoming a prominent residential location in Pune. From excellent civic amenities to infrastructure capabilities and connectivity, it has everything to help home buyers strike a profitable deal. Today, a number of prominent builders, including the Kohinoor Group, Godrej Properties, and Lodha Developers, are developing their residential projects in this area.
Properties in Shirgaon should definitely be on your list, if you are looking for affordable residential apartments with maximum future returns.
#4. Wagholi
Initially established as an industrial zone, Wagholi today is a prominent residential destination in Pune, thanks to its close proximity to leading IT parks and business sectors. Even for investment purpose, Wagholi proves out to be a promising destination as there’s a high demand for 2-3 BHK residential apartments among renters. The average price of property in Wagholi is Rs 4,131 per sqft.
#5. Viman Nagar
With close proximity to educational institutions, IT parks, premium malls and restaurants, Viman Nagar has become the hotbed for real estate investors in Pune. Well connected to all parts of the city, it attracts both budget as well as premium buyers from all walks of life. The residential properties in Viman Nagar are affordable and ensure best investment returns in future as well.
The average price of residential apartments in Viman Nagar is Rs 8,889 per sqft.
#6. Hadapsar
The industrial and IT hotspot of Pune, Hadapsar has undergone immense transformation in the past few years. Today, Hadapsar is one of the brimming commercial and residential property destinations in Pune. It is also one of the oldest localities in Pune.
Many IT companies and MNCs have their offices in this area. It is also famous for its entertainment and recreational facilities. As a result, there’s a huge demand of residential apartments in Hadapsar. Some of the premier projects in Hadapsar include Fifth Avenue, Runwal Seagull, and Marvel Azure.
#7. Koregaon Park
One of the most prominent and well-established localities in Pune, Koregaon is known for its lush green surroundings and unmatched cleanliness. A hub of entertainment, Koregaon hosts some of the best residential apartments to meet the ever-growing needs of the home buyers. If you are looking for a spacious and luxurious residential apartment in Pune, Koregaon is the place to be.
The average price of property in Koregaon is Rs 12,000 per sqft onwards.
Final Thoughts
Though the ongoing pandemic has impacted the real estate property market, the reality sector in Pune is showing quick signs of recovery. With thousands of ready to move and upcoming residential apartments in Pune, buying a property in Pune is only going to give you profitable returns.
So, choose the property that best suits your needs and budget and make a wise, money-spinning decision – one that helps you enjoy maximum investment returns in future. All the best!
Related: Housing Sales in Top 7 Cities Surge 29% Y-o-Y in Q1 2021, Breach Pre-COVID-19 Levels
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