Top Three Locations in Pune for Your Dream Home Within an Affordable Budget
As of 2022, Pune is a goldmine city for permanent living. The real estate market is recording new benchmarks with new residential projects in Pune, and people are turning tides for convenience and leisure within budget.
But instead of jotting down the cheapest property value, we have curated a list that offers a holistic approach to affordability– including cost-of-living, potential valuations, development, demography, accessibility, and overall living experience.
Here is an ascending list of housing within budget–
Wagholi
This suburb has emerged with a roar as derived from the famous Wagheshar Mandir (Tiger Temple). It also boasts of being the land of the Maratha warrior, Shrimant Subedar Pilajirao Jadhavrao, and as legendary as the heritage is, Wagholi is now a land that welcomes people from all socio-economic backgrounds.
Since it is still in its developing phase, many real estate developers in Pune have capitalized on this locale by introducing some of the most best residential projects, while the vast land presents opportunities for greenfield projects.
While the eastern corridor of Pune is on exponential growth, Wagholi is one of the topmost suburbs that is developing from its industrial landscape deemed the mining hub of Pune.
USP:
Several influential Tech and IT Parks like Eon IT Park, Weikfield IT Park, and World Trade Centre are located within a convenient radius of 5-6 km from this locale.
This has granted the working professionals to invest in Wagholi at affordable prices while enjoying an easy commute. Investing in the initial phase of development will yield better ROI.
Highlights:
Nagar Road, Bakori Road, Lohegaon-Wagholi Road, and Wagholi-Kesanand Road keep this locale conveniently connected to the rest of the city.
Pune International Airport is mere 11 kms away, which can be accessed in under half an hour via Lohegaon Road.
Hadapsar Railway station is the nearest link for smooth connectivity, whereas the Pune Railway Station can be accessed within 40 mins.
This locality also enjoys metro connectivity with the extension of the Vanaz-Ramwadi Metro Line.
Upcoming Projects:
Mumbai-Bengaluru Infrastructure Corridor, Wagholi- Shikhrapur Flyover, and a direct road connecting to EON IT Park will further augment the projected valuations of this area.
| Current Price Trend: ~₹. 5030/ sqft. As per the price trend data on Magicbricks.com portal, Wagholi is experiencing a gradual trajectory in price trends for the past 5 years. Even during the pandemic years, the lowest curve in 2020 was still higher in property value than the year-2017. |
Katraj-Kondhwa Road
Located in the Southern precinct of Pune, Katraj- Kondhwa road has become synonymous with “leisure in Convenience”. It is a part of NH-65 that interlinks Katraj and Kondhwa, while this locale enjoys the dual benefits.
USP
People are drawn to this locale for its proximity to Market Yard and urbane locales like Fatimanagar, Wanowrie, NIBM and the nearing employment hubs. SP Infocity IT Park, Magarpatta, Swargate, ICC Tech Park, Cerebrum IT Park, and Giga Space Tech Park are some of the aspired work environments, located within 20-40 mins from this locale.
Highlights
Sinhagad City School & Institute is prominent in Pune where students from nearing towns come to study for further education. VIT and VVIT Colleges, Bharthi Vidyapeeth, RIMS International School and College, and Delhi Public School among many more are incentives for families to invest in a brighter future for their children.
Mumbai-Pune-Banglore junction allows smooth connectivity from this locale. Gangadham-Shatrunjay Road, Beed-Ahmednagar-Pune Road, and Kolhapur-Mumbai-Pune Bypass connect the Katraj-Kondhwa Road to the rest of the city.
Whereas Pune Railways and Pune Municipal Transport (PMT buses) are the economical means of transport for residents. Pune International Airport can be accessed within 40-45 mins from Jawaharlal Nehru Road.
Inference: One can access the city with convenience while enjoying the leisure of a calm locale.
Rajiv Gandhi Zoological Park and the newly established ISCKON Temple add the familial element to the locale.
Prominent Infrastructure Projects:
According to the TOI Report, PMC has proposed a plan for robust roads in Katraj-Kondhwa, that will help relieve the traffic issue. The proposed work has started from Rajas Society Chowk to Shatrunjay Mandir Chowk till Khadi Machine Chowk.
| Current Price Trend: ~ ₹.5546/ sqft. These affordable prices in a serene environment are a privilege for many young professionals who are looking for a permanent residence in Pune. An upward trajectory in the property value has also led to the endorsement by trusted banks who have backed major residential projects in Pune. |
Hinjewadi
This modern suburb redefined the Pune city that we know today.
With the introduction of the IT sector in India, Hinjewadi– which was just a small village was designated as the epicenter of Pune’s industrialization with the establishment of Rajiv Gandhi Infotech Park, that now sprawls across 2800 acres.
USP
The Special Township Policy Act by the Maharashtra govt proposed Hinjewadi as an integrated township that assimilated the peripheral areas. This expansion allowed a demographic boost in Hinjewadi, where career aspirations gathered in one territory.
Wipro, Capgemini, Infosys Training Centre, Embassy Tech Zone, and Embassy Quadron Business Park are the other tech parks that attract IT aspirants from all over India and ex-pats.
Highlights
Owing to the commercial expanse, Hinjewadi is considered the front-runner micro-market in Pune.
With such a reputation, the best educational and healthcare facilities are established here. And the cosmopolitan vibe has compelled various recreational facilities and exuberant nightlife.
The startup culture is growing exponentially in Hinjewadi with such abundant resources.
Upcoming Projects:
The proposed plan by Pune Metropolitan Region Development Authority (PMRDA) for a metro line between Hinjewadi and Shivaji Nagar will augment the connectivity.
| Current Price Trend: ~ 5,968/ sqft. The common misconception is that if a locale is thriving, then the prices must be inflated. But the work culture here has propelled the rental returns on flats in Hinjewadi. Due to the co-living spaces, Hinjewadi can still be considered one of the economical suburbs in Pune. The property value has significantly surged during the pandemic (Apr’2020-Apr’2022), denoting a bullish real estate market. |
Kolte Patil Projects in Pune are gaining major traction for affordable housing with best-in-class quality in mid-segment and the best amenities.
So, this is your chance to secure your dream home in these amazing locales.
(Note: All statistics mentioned are sourced from Magicbricks.com property reports)
FAQs:
Q1: Are there any Kolte-Patil projects in the aforementioned locales?
A: Yes, indeed! There are–
- Wagholi- Ivy Estate, Mount Castle, EQUA
- Katraj-Kondhwa Road- Three Jewels
- Hinjewadi- Life Republic, Green Olive
Q2: Is Wagholi a safe place to live?
A: Wagholi was earlier an isolated town; but with the resurgence of the commercial landscape, Wagholi has been developed to cater to residential zones. Security and other fundamental services keep the area safe.
Q3: Is the quality of facilities and housing good in these areas, given that they are cheaper?
A: Many projects have been introduced in these areas to augment mid-segment housing. Due to these cost-effective suburbs, the land acquisition, construction, and opportunities work in favour of real estate developers to introduce quality projects.
Q4: Are there any flats available in the Life Republic project in Hinjewadi?
A: There are new towers introduced in Life Republic, Hinjewadi. You can visit the website or submit a quick enquire now form for detailed information. The sales manager will guide you with newly launched towers.
Q5: Is there any public transport available in Kharadi?
A: PMPML public transport buses run with good frequency to and fro Kharadi.
Q6: Is the Pune Metro operational?
A: The metro has opened in phases. As of March 2022, Vanaz to Garware College and PCMC to Phugewadi–only these two lines are operational.
Q7: Are these areas affordable for students?A: Due to shared rental arrangements, these locales offer affordable housing and cost-effective living for students.
