Pune Offers Homes Within Rs. 20-40 Lakhs
Pune has become one of the fastest emerging markets in modern times due to its infrastructure development, climate, connectivity to various cities and its increasing employment opportunities. As such, property prices too are going up in Pune. However, unlike Mumbai, there are still several areas in Pune where one can purchase a property within a budget of Rs. 20-40 lakhs.
1. Wagholi
Wagholi is a fast growing residential hub due to its proximity to the Kharadi IT hub. It lies on the Pune-Nagar Highway. As such, it has very good connectivity to the IT Park as well as key localities in the city. Apart from having good connectivity to other localities, it also has good connectivity to Sholapur Highway, Shikrapur-Chakan Road, Bund Garden and the Pune airport. There is a road connecting Wagholi to EON IT Park presently under construction. The area is witnessing rapid growth in terms of social infrastructure, education institutions and hospitals over the last five years. There are also several malls, multiplexes, hotels and shopping centres coming up in the area.
All these have attracted real estate developers to the area. Some of the noted developers active in the area are Eiffel Developers, Kolte Patil, Raviraj and Belvelkar Housing. The most commonly available units are 1 and 2-BHK apartments. A typical 1-BHK of area 570-750 sq. ft. would cost about Rs. 20-35 lakhs. A 2-BHK apartment of size 700-1,000 sq. ft. would cost about Rs. 25-40 lakhs.
2. Chakan
Chakan is an upcoming area situated on NH-50 between Pune and Nashik. It also lies on the road that connects the Mumbai-Pune Highway to Pune-Ahmednagar-Aurangabad Highway and Pune-Nashik Highway. As such, it has very good connectivity to all the surrounding cities. It is just about 150 kms from Mumbai and 35 km from Pune. Once an agricultural town, Chakan is now home to an SEZ. Since then the area has evolved into a major automobile hub. There are production plants belonging to Daimler-Benz, Bajaj Auto, Mahindra and Mahindra, and Vokswagen Group.
Chakan has a very good social infrastructure. It has regular MSRTC buses providing access to different parts of Maharashtra. There are also PMPML buses connecting it to Pune and Pimpri-Chinchwad areas. The civic infrastructure too is well developing in the area. There are several developers such as Shree Krushna Developers, Yashada Group and Eiffel Developers active here. The most common residential units available here within Rs. 40 lakhs are 2-BHK apartments. A 2-BHK apartment with an average covered area of 850-950 sq. ft. costs approximately Rs. 25-30 lakhs.
3. Talegaon
Talegaon is a town in Pune and is home to several multinational companies and agro-based units. It is situated on the Mumbai-Pune Highway and is very close to the Mumbai-Pune Expressway. The area is located just about 135 km from Mumbai and 40 km from Pune. Talegaon railway station is an important railway station for the Pune local rail service. Hence, the area is very well connected to both Mumbai and Pune. There is also a proposal for an international airport near Talegaon Dabhade.
The area has seen immense growth in real estate over the last ten years. Since Talegaon is also close to Hinjewadi, Chakan and Lonavla, it is a hot spot for real estate development. There are several builders developing townships and residential buildings here. Some developers include Rainbow Housing, Saarthi Group and VTP Group. There are 1, 2 and some 3-BHK apartments available within the budget of Rs. 40 lakhs here. While a 1-BHK apartment is available for the price of Rs. 20-26 lakhs, a 2-BHK apartment is available for a price of Rs. 25-40 lakhs. Some 3-BHK apartments are available for approximately Rs. 35 lakhs.
Other areas that provide affordable housing include Hinjewadi, Hadapsar, Kharadi and Pimple Saudagar. While Pune is currently one of the most sought after residential real estate destinations, the city still maintains the affordability factor for several potential buyers.
