Aundh real estate developments
Aundh is one of the affluent suburbs in the Northwest of Pune, which is fast developing into a residential area since the last two decades. The region lies in proximity to the University of Pune and the IT parks in Hinjewadi.
Areas like Balewadi and Bane, which lie within a radius of 8km from the place, are also witnessing a rapid development. The plot prices in these areas have seen a rise from Rs.1000/sq.ft, to about Rs. 2500/sq.ft.- Rs.3500/sq.ft., over the last couple of years.
Connectivity
Aundh lies in close proximity to the Mumbai-Pune Highway, which makes it easily accessible from almost all the regions in and around the state. Buses ply frequently to and from the place, making transportation easier for the commuters. The Shivajinagar railway station lies at a distance of less than 6km from Aundh, while the Pune airport at Lohegaon is situated at a distance of about 15km.
Social Infrastructure
Today, Aundh is recognized as one of the best upcoming market areas in the city. The localities which lie along the University Road, up to Rajiv Gandhi Bridge on river Mula, come under Aundh. The region is famous for its educational institutions like Kendriya Vidyalaya, ITI, DAV Public School, SERRA International Pre School, Spicer Higher Secondary School and City International School.
The area also houses a number of hospitals, namely Saishree Hospital, Kotbagi Hospital, Lifeline Hospital, Aditya Birla Clinic, Medipoint Hospital and Shashwat Hospital. World-class recreational, business and dining opportunities are provided at Aundh, which is one of the most popular hangout destinations in the city for the cosmopolitans.
Residential projects
The residential real-estate sector in Aundh has been developing rapidly, with the demand driven by IT professionals and migrants from various parts of the country. Factors like proximity to the Mumbai -Pune highway and connectivity to Shivaji nagar, lure developers and investors to the area, as it promises high returns, over the time.
Some of the residential projects in the area include Clarion Park by Naiknavare and Developers, featuring 2 and 3BHK apartments; Gold Coast by Rachana Associates featuring 2 and 3 BHK apartments, Elite gardens by DNV Builders, featuring 1BHK apartments and Orion Complex by Welworth Group, featuring 2BHK apartments.
Size and price of apartments
The size of 1BHK apartments in Aundh vary from 450-700 sq.ft, and the price ranges between 35 lacs to 50 lacs. The sizes of 2 and 3 BHK apartments range from 1000-1300sq.ft and 1200-1500 sq.ft., respectively. The sale price of a 2BHK ranges from 64 lacs to 85 lacs and the same ranges between 85 lacs to 1.75 crore for a 3BHK apartment in the region.
Rental values of apartments vary from Rs.11000 to Rs.15000 for a 1BHK apartment and from Rs.17000-23000, for a 2BHK apartment, per month. A 3BHK apartment’s rental value ranges about Rs. 22000- Rs.25000 per month.
Price Trends
At present, multi-storey apartments are sold at an average price of about Rs.7,700/sq.ft., and residential houses are offered for sale at an average price of about Rs.11,700/sq.ft. The rental value of multistory apartment and residential house at Aundh is about Rs.19/sq.ft. and Rs.20/sq.ft., respectively.
The area witnessed an appreciation of about 11% in the sale price of multi-storey apartments and 27 % in the sale price of residential houses, during the second quarter of 2013, when compared with the same period of 2012.
The rental value of residential houses saw an appreciation of about 11% during the second quarter of 2013, when compared with the previous quarter of the same year. In January-March 2013, the rental value of residential houses was about Rs.18/sq.ft., which soared to Rs.20/sq.ft, during April-June 2013. However, the rental values of multistory apartments showed a high depreciation during the second quarter of 2013, when compared with the second quarter of 2012. During April-June 2012, the area saw the rental values going as high as about Rs.41/sq.ft. However, during the same period in 2013, they fell to about Rs.19/sq.ft.
