Real estate developments in Narhe
Narhe is a fast-developing village, located southwest to the city of Pune. The village falls under the Pune Municipal Corporation.
Connectivity
Narhe lies in in proximity to the Mumbai-Pune Bypass. This makes the area easily accessible from all major cities and towns in the state. It lies at a distance of about 14km from the Pune railway station and about 22km from the Pune Airport in Lohegaon. Narhe-Goan Road, Dhayari Road and Ambegaon Road, which link with the Mumbai-Pune Bypass, connect the area to the neighboring localities like Dhayari Phata and Dhiree Village.
Real estate growth
With rapid infrastructural development under progress, developers,builders and investors are lured to the area as it promises high returns. Good connectivity to the twin towns of Mumbai and Pune, affordable housing options and proximity to a number of educational institutions like Dnyanganga Polytechnic College, Zila College, Bhivrabai College of Engineering and Research, Abhinav Education Society, Pharmacy College, Sinhgad Institute of Management, Smt.Kashibai Navale College of Engineering have added to the reasons of real estate growth in Narhe.
As per market reports, projects offering 1 and 2 BHK apartments are growing high in the area. Suvidha Angan and Suvidha Ambar by Suvidha Group featuring 1 and 2 BHK apartments; Reelicon Vishwa by Karan Group Promoters & Builders featuring 1 and 2 BHK apartments; Sumeru Vaiwaswat by Sumeru Developers featuring 2 BHK apartments; Neetal Residency by Pioneer Developers Promoters and Builders featuring 1 and 2 BHK apartments; Greenland County Phase II by Daroge Jog and Associates featuring 2 BHK apartments and Devshree Apartment by Sumeru Developers featuring 1,2 and 3 BHK apartments are some of the residential projects launched in Narhe.
Size and price of apartments
The size of 1 BHK apartments in Narhe vary from 550-630 sq.ft, and the price ranges between 20 lacs to 30 lacs. The sizes of 2 and 3 BHK apartments range from 650-800sq.ft and 1375-1450 sq.ft., respectively. While the sale price of a 2 BHK ranges from 35 lacs to 45 lacs, the same ranges between 68 lacs to 70 lacs, for 3 BHK apartments in the region.
Rental values of apartments vary from Rs.5000-7000 for a 1 BHK apartment and from Rs.7500-8500, for a 2 BHK apartment, per month.
Price Trends
At present, multi-storey apartments are sold at about Rs.4200/sq.ft in Narhe. The rental values of the same is about Rs.10/sq.ft.
When compared with the first quarter of 2013, the area witnessed an appreciation of more than 2% during the second quarter of the year. While the sale price of apartments was about Rs.4100/sq.ft.during January-March 2013, the same raised to about Rs. 4200/sq.ft, during April-June 2013.
The rental values witnessed an appreciation of about 11% during the second quarter of 2013, when compared with the same period of 2012. During April-June 2012, the rental values of multi-storey apartments in Narhe was about Rs. 9/sq.ft. The same appreciated to Rs.10/sq.ft., during April-June 2013.
