Wakad- Potential Growth Area for Real Estate Market:
Pune now being a very good investment option as it is closer to Mumbai and is well connected with Express Highway making it easily accessible from Mumbai. The weather being good and it is fast developing as an IT and Automobile Industry Hub. Pune is already an education hub making it a good option for new families to settle in. With the Indian metros becoming megalopolis, cities like Pune, Mysore, Ahmedbad, Gurgaon, Noida etc, are fast becoming the next big thing. This offers an excellent investment opportunity that will give good appreciation and also give a good opportunity to settle down and enjoy a good healthy lifestyle.
In Pune, Wakad is a good place to invest in for working class people and people who are starting their new families. Wakad is preferred location due to its proximity to Hinjewadi and accessibility to Mumbai Pune Express Highway There are lots of schools and colleges and also higher management level institutes making it a good place for families with learning kids. With good restaurants shopping malls and commercial complexes, nearness to Pimpri and Chinchwad roads are also big and newly developed making Wakad as a preferred choice to invest in.
Located in west Pune, close to the Hinjewadi IT Park, Wakad today, is considered to be the best bet for those looking to stay closer to Pune as well Mumbai. The area offers easy accessibility to Mumbai and main parts of the city, through the Mumbai-Pune Expressway and internal roads.
The people coming from Mumbai will have to enter Wakad to access Pune city. About 30 per cent of the total property investment in Pune is made by real estate buyers from Mumbai, especially those who are looking for second homes. These buyers look for homes near the Mumbai-Pune Expressway only, thus Wakad fits their requirement.
Apart from this, Wakad enjoys easy approach to areas like, Aundh, Baner and Balewadi. “The area is about three kms away from the Pimpri-Chinchwad Industrial Area, about 5-7 kms away from Aundh and Baner and about 16 kms from the Pune railway station. However, the Chinchwad railway station is the nearest station, situated at the distance of about eight kms. The airport is about 20 kms, taking the Aundh-Ravet Road,” says Anand Chavan, proprietor, Home Solutions. The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) offers frequent bus services to the area.
Proximity to IT hubs:
Proximity to Hinjewadi is working in Wakad’s favour. Wakad is about three kms away from Hinjewadi which houses IT parks, such as Infotech and Biotech. Major IT companies here include, Infosys, TCS, Wipro, IBM, Tech Mahindra, Cognizant, Siemens and Mindtree. Although, there is not much of a difference in the property values of Hinjewadi and Wakad, professionals working in IT parks, such as Infotech and Biotech Parks at Hinjewadi, still want to buy property in Wakad, owing to its closeness to the city Centre. Experts also foresee the growing demand in the future. Hinjewadi is developing into phases. Three phases are already under-construction, whereas, another four have been proposed by the government for further commercial set ups. Once the area expands, many companies are likely to set their base here, which will further boost the residential demand, in and around the area, experts says.
Access to Mumbai:
The area offers easy accessibility to Mumbai and main parts of the city through the Mumbai-Pune Expressway and internal roads. “People coming from Mumbai will have to go through Wakad for further accessibility to Pune city. About 30 per cent of the total property investment in Pune is made by real estate buyers from Mumbai, especially those who are looking for second homes, away from the hustle bustle of the city,” says Analysts.
Wakad has an easy approach to areas such Pimpri Chinchwad, Aundh, Baner and Balewadi. “The area is about 3-km from the Pimpri Chinchwad Industrial Area, about 5-7 km from Aundh and Baner and approximately 16 km from the Pune Railway Station. However, the Chinchwad Railway Station is the nearest railway station, situated at a distance of about 8 km. Taking the Aundh-Ravet Road, the airport is at a distance of only 20 km,” says Anand Chavan, proprietor, Home Solutions. Also, Pune Mahanagar Parivahan Mahamandal Limited (PMPML) offers frequent bus services in the area.
Since infrastructure in Wakad is still developing, many renowned developers have launched their projects at affordable prices. According to Magicbricks.com data, the maximum properties in the area are offering 2BHK apartments in the range of Rs 40-60 lakh. Kalpataru Constructions, Kolte-Patil Developers, Kumar Developers and Aura Real Estate, to name a few, are present in the area.
Some Hot Projects in Wakad Area:
Kalpataru : Kalpataru Harmony, Kalpataru Splendour
Pride Purple Group: Park Turquoise, Purple Diamond Park, Park Titanium
Alliance Group: Alliance Nisarg, Alliance Nisarg 2
Mittal Brothers: Mittal Petals
R. K. Lunkad Housing: Akshay Tower, Nisarg 1
Akshar Developers: Akshar Elementa
Kumar Properties: Kumar Piccadilly
Anshul Group: Anshul Casa
Pristine Properties: Pristine Prolife 2, Pristine Grandeur
Rohan Builders: Rohan Tarang Phase 2
B.U. Bhandari: Eden Tower
Kolte Patil Developers: Kolte Pink City
Goel Ganga Developers: Goel Ganga Fairmont
Category : Flatons Advisors Blog