Kothrud real estate market experiences major boom
Kothrud is the western suburb of Pune and is one of the major realty destinations for investors and developers at present. In recent times, the locality has emerged as one of the potential real estate destinations in the affordable segment of Pune’s real estate market.
With the establishment of numerous IT and motor company’s head offices in Pune, the real estate market of the city has flourished exponentially. The western location of the city offers some of the most desirable housing locations for home buyers.
Kothrud has been in the suburb for quite some time now because of its affordable housing category. Proximity to industrialized areas of the city have surged the developments in the locality. According to market experts, Kothrud is one of the upper-class vicinities of the city with skyrocketing real estate rates.
Connectivity:
Kothrud is a posh suburb located to the west of Pune. Karve road cuts through this locality and connects it with Mumbai Pune Bypass road. Proximity to Mumbai Pune Bypass road, Rajiv-Gandhi Infotech Park and Hinjewadi stands as one of the prominent reasons for the growth of real estate activity in the vicinity.
Easy accessibility to supermarkets, necessary amenities, shopping centers, post offices, schools etc. located at Aundh makes the locality one of the future key growth areas in Pune. The nearest railway station is Shivajinagar Railway Station which is 6.6 kms from the locality. The Pune International airport is located at a distance of 16 kms from this neighborhood.
Public Transport
Kothrud can easily be accessed from different parts of Pune and its adjacent regions. The locality is serviced by PMPML buses and includes two depots- Kothrud Stand and Kothrud Depot. Buses available from the locality connect to other parts of the city namely- Swargate, Nigdi, Hadapsar, Deccan Gymkhana etc.
Social Infrastructure
The locality is famous for its educational institutions. Some of the major schools in the locality include- Abhinava Vidyalaya English Medium School, New India School and MVM’s Panditrao Agashe School.
Few foremost educational institutions in the area namely Cummins and MIT, attracts students from all over the country and abroad.
Real estate and price trends
The locality is one of the fastest growing suburbs in Asia. The rapid growth in the region is because of Pune’s recent emergence as an Industrial powerhouse. The price range per sq ft for a multi-storey apartment in Kothrud is between Rs 7918 to Rs 8243. According to JLL reports, there has been a hike of 6% for residential apartments and 17% for residential houses in the locality in the last few quarters.The rent per sq ft for multistorey apartment ranges between Rs 10- Rs 35 per sq ft.
1BHK, 2BHK, 3BHK multistorey apartments along with 2BHK builder floor apartments are offered to the buyers in this area. Some of the new projects in this area include- Westend Village, Gloria Grace, Kundan Grand Stand etc. These projects offer all kinds of basic amenities such as swimming pool, children play area, jogging park, clubhouse, indoor games, outdoor games, power backup etc. Some of the key developers of West Pune like Kolte Patil, Aditya Builders, GK Developers, Kumar Properties and Wadhwani Constructions have made their presence felt in the locality.
One of the sought after destinations in Pune, the real estate market in Kothrud is likely to experience an upswing for a long time. Due to its infrastructural development, the locality has witnessed a healthy transaction of residential houses. Being an upmarket locality and proximity to Deccan offers good scope for future real estate development in the area.
