Invest in Pune with budget below Rs 50 lakh
The residential property prices in Pune have been gradually inching high over the last few years. In tune with it, the affordable residential market in the city has moved in a similar fashion, perhaps in a more niche manner offering apartments below Rs 50 lakh. For those in dire need of an apartment to buy or invest in Pune within a budget of Rs 50 lakh, Wagholi is one such hot spot that is required to consider.
Situated on the eastern counterparts in Pune, Wagholi is one of the peripheral regions of the city, and has come into limelight on account of various development projects concentrated in the area. With prime areas such as Kharadi and Hadapsar hitting the saturation point, Wagholi has made a name for itself in the affordable residential market in Pune, offering residential spin off’s at easy rates.
The essence of the locality
Given the market reports, Wagholi is brimmed with 2BHK apartments that are priced below Rs 50 lakh. Proximity to the IT hub (Kharadi), airport at just 8km and connectivity via the Pune Nagar Highway has all done wonders for the locality, ranking it on the top in the list of the best investment options in Pune. At present, the property values in the area run between Rs 3900- Rs 4700 sq ft. With a line of projects slated to be completed by 2016, Wagholi is expected to quench the demand for affordable housing units in the city.
This eastern part of the city has come under the radars of the developers with the growth of the commercial sector. Numerous IT giants have established their offices in the area, transforming the ‘then sleepy town’ to a ‘bustling hub’. With easy connectivity to prime growth corridors such as Kalyani Nagar, Koregaon Park, Viman Nagar, Nagar Road and Kharadi, Wagholi boasts of a number of advantages in regard to connectivity.
Other than Wagholi
Apart from Wagholi, Charoli (situated in Pune North), has sufficed the demand for housing units valuing less than Rs 50 lakh, off late. This, creates a provision for the realtors to embark on the housing projects here. The proposed 170 km Ring Road, which will run via the Pimpri–Chinchwad, is eyed as one of the prime infrastructure projects, which will turn the tables for the real estate sector of the city.As per experts, property prices in Charoli are likely to witness a hike of 25-30 percent in 2014.
The suburban locations on the northern corridor such as Nigdi, Kalas, Tathawade and Dighi while Hinjewadi, Mulshi, Bavdhan, Wakad, Balewadi, Pirangut, Nanded and Pashan on the western belts are some of the upcoming hot spots in the city that are laced with an array of affordable residential units (priced below Rs 50 lakh).Affordability, with a coating of quality construction, coupled with a beautiful serenity has generated demand for such locations in Pune.
