BT Kawade Road in Pune sees high demand in residential property
BT Kawade Road is witnessing an upsurge in demand for residential property in recent times. Located about 7 km east of the heart of the city, the area has caught the attention of both end users as well as investors due to various advantages it offers. High demand for residential property has resulted in considerable appreciation in capital values in the last few years. However, since the property values here are considerably lower than many other upmarket areas, the demand has been steady. Moreover, the area also offers excellent connectivity as well as good infrastructure facilities which influenced buyers to invest in property in the area.
Connectivity
The area is well connected to the heart of the city through the Mumbai highway as well as other important roads like the Mudaliar Road, the Ambedkar Road, Dr. Coyage Road and the General Thimayya Road. Some of the other important roads in the vicinity are the Price of Wales Drive Road, the Canal Road and the Sopan Baug Road. Buses ply frequently along this road connecting it with different destinations across the city, with many bus stops dotting it. The nearest railway station from BT Kawade Road is the Hadapsar railway station while the Pune city railway station is about 5 km away. The Pune International Airport is about 12 km away along the Prince of Wales Drive Road as well as the Airport Road.
Infrastructure
BT Kawade Road has some important infrastructure facilities in its vicinity. Some of the reputed schools in the area are City International School, St. Patrick’s High School and PMC School, among others. There are also some prominent colleges in the area like Armed Forces Medical College, Vidya Bhavan College of Commerce and Redcarpet College of Hotel Management and Culinary Academy. Some of the renowned hospitals in the area are Inamdar Multispecialty hospital, Electricwala hospital and Noble hospital, among others. There are some important religious institutions in the area like Kalubai mandir, Shree Ashtavinayak Ganesh mandir and St.Patrick’s Cathedral. Besides, there are other important facilities like banks, shopping centers, restaurants and parks in the vicinity.
Realty Scenario and Developers
Considering that BT Kawade Road is a long stretch of road, there are many residential pockets along this stretch. They include Lakshmi Nagar, Uday Baug, Dalvi Nagar, Ganesh Nagar, Balaji Nagar, Ghorpadi, Punya Nagari, Shravasti Nagar and Sai Park, among others.
Some of the prominent completed apartment projects in the area are Yellow Blossoms by Raviraj Group, Gaikwad Palm Groves by Gaikwad Properties and Brahma Baug by BrahmaCorp Infrastructure, among others. There are also many upcoming apartment projects in the area like Eternia Apartment by Kundan Spaces LLP and The Turf by Anand Group, among others. There are also many completed villa projects in the area like Raviraj Citadel Empress and Florentine Villas by Raviraj Group.
Price Trends
There has been a gradual appreciation in property values in BT Kawade Road since the past two years. According to CommonFloor data, the capital values in the area which were about Rs 4,710 per sq. ft. at the start of 2012 has appreciated considerably in subsequent quarters. Property values at the beginning of 2013 were Rs 5,206 per sq. ft., and Rs 6,296 per sq. ft. at the beginning of 2014. Subsequently, it appreciated to Rs 6,398 at the end of Q1 2014 and to Rs 6,650 at the end of Q2 2014. This is an appreciation of more than 10 per cent compared to the previous quarter. The rental rates in the area are also relatively high at Rs 14 per sq. ft. Rentals rates have been steady in the last few quarters. However, Q2 2014 saw an appreciation in rentals rates of about 6 per cent compared to the previous quarter.
Future Prospects
Due to steady appreciation in property values in BT Kawade Road since the last few years, the prospects of growth in the realty market of the area are high. Moreover, the appreciation in property values has not diminished the appeal among buyers to invest in the area. However, much of the future demand for property here will depend on the infrastructure development that the area sees in future. Due to the rate of appreciation that the area is witnessing, investors stand to gain healthy returns on their property investments.
