Pimple Saudagar Emerges As Hot Investment Destination in Pune
Pimple Saudagar is an area within the Pimpri Chinchwad Municipal Corporation and lies within the proximity of Pune. It is rapidly developing as a residential real estate destination due to its proximity to the IT Park in Hinjewadi and the Pune University Circle. Various other factors also support the area’s rapid growth.
Location and connectivity
Pimple Saudagar is situated between Pimpri and Aundh, on the banks of Pavana River. It also lies on the Aundh-Ravet Road that connects the locality to Pune. Nashik Phata Road is another important road passing through the area and connecting it to Nashik. The newly developed BRTS road that connects Nashik Phata and Wakad passes through Pimple Saudagar. The area is just about 6 km away from the IT Park in Hinjewadi and 8 km from Pune University circle.
The area has several bus stations. Local buses connect the different localities in Pimple Saudagar while the PMPML buses are available from Pune. The city railway station is about 15 km from the area.
Social amenities
Pimple Saudagar has very good social amenities. There are several schools and colleges affiliated to the state board as well as CBSE and ICSE education boards. Some of the noted education institutions include Sai School of Excellence, Little Millenium and Challenger Public School. There are several clinics and hospitals in and around the area. The Aditya Birla Super Specialty Hospital and Shree Shakti Hospital are within proximity to the area. There are several banks, ATMs and business establishments in the area. The area also has some parks, temples and malls.
Real estate trends
Pimple Saudagar already has several builders and housing societies in the area. The area mostly attracts the professionals working in the nearby Hinjewadi IT Park. In fact, the key driver of the real estate market in this area is the IT crowd. Some of the housing societies include Roseland Residency Co-Operative Housing Society and Nisarg Nirmiti Housing Society. The prominent builders in the area include BK Developers, Shardha Builders, Kunal Group and Raviraj Group.
The most commonly supplied residential units are 2-BHK apartments, though there are 1 and 3-BHK apartments available as well. The covered area of a 1-BHK apartment usually ranges between 600 sq. ft. to 800 sq. ft. while that of a 2-BHK apartment is between 850 sq. ft. to 1,200 sq. ft. The typical covered area of a 3-BHK apartment is between 1,250 sq. ft. to 1,650 sq. ft. The average cost of a 1-BHK apartment is approximately Rs. 27-45 lakhs whereas that of a 2-BHK apartment is approximately Rs. 45-70 lakhs. A 3-BHK apartment is available for an approximate price of Rs. 70-90 lakhs.
Pimple Saudagar has seen a continuous price appreciation for the last three years. The average property price in 2010 was approximately 3,640 per sq. ft while in 2013 it was about Rs. 6,300 per sq. ft. This shows an appreciation of 73% in three years.
Pimple Saudagar will continue to see a good appreciation owing to its proximity to the Hinjewadi IT park, its affordability and its growing infrastructure, making it a lucrative real estate investment destination.
