Real estate in Baner getting remarkable preference
A whole gamut of residential properties in Pune makes it one of the most preferred choices for developers and investors these days. The recent realty developments in Baner have made the locality one of the top guns in Pune’s property market.
Baner suburb is an extension of Aundh and it is the hot choice among realtors these days. Residential apartments in Baner are selling like hot cakes, ranking it among the premium segments of property in the city. There are a number of growth locations in Pune, however, only few (such as Baner) have been able to come on the radar of home buyers and realty developers. To add to it, the neighborhood has emerged as one of most coveted residential locations among the IT/ITes professionals.
Connectivity
In last few quarters, Baner has emerged as the new growth location for Pune’s real estate sector. Located off the Katraj-Dehu Road Bypass, by-passing Pune, Baner offers easy access to the IT/ITes hub of Pune- Hinjewadi. Close proximity to University of Pune, Law college, Shivaji Nagar, Pashan and Bavdhan, adds to its overall credentials. Excellent connectivity to Aundh road makes Baner a desirable choice for developers.
Baner is located at a distance of 22 kms from Pune airport, offering excellent accessibility to its residents. The nearest railway station is Kharki(cant.) located at a distance of 9.8 kms. Proximity to Mumbai-Pune Expressway is one of the major reasons for the steady growth of the neighborhood. Baner is also connected to the Silicon Valley of India- Bangalore, via the Pune-Bangalore Highway. The proximity to organized retail and all kinds of commercial development from Baner is above average.
Public Transport
Transportation from Baner to different parts of the city is aided by Pune Mahanagar Parivahan Mahamandal Limited (PMPML) buses. PMPML buses offer excellent transport service to people to reach Balewadi, Ram Nagar, Datta Mandir etc. Buses are available for Mumbai-Pune Expressway, which is 1.5kms from Baner.
Social Infrastructure
Baner road is 6 km long and stretches from University Circle to Mumbai-Pune Expressway. According to Cushman and Wakefield report, after the Commonwealth Youth Games 2008, special efforts were taken on part of the government to boost the civic amenities and infrastructural growth in the vicinity. With more number of upcoming shopping malls, medical care, and schools in the locality, the future infrastural development of Baner looks promising enough.
Baner’s close proximity to recreation outlets, some of the best educational institutes and healthcare centers at Aundh and Balewadi makes it an obvious choice among the Rajiv Gandhi InfoTech Park employees of Hinjewadi.
Real estate price and trends
According to property consultants, Baner is one of the hottest realty destinations among IT professionals due to its proximity to Hinjewadi IT Park. Since the locality is close to Mumbai-Pune Expressway, Baner is also preferred for residential purpose among the Mumbaikars. 1, 2 and 3 BHK premium flats laced with amenities such as gymnasium, reading room, water cascade, temple etc. are offered to the buyers in this area. The average price per sq ft for a multi- storey apartment in Baner is Rs 6381, whereas for a residential house it is Rs. 7276.
A residential house in Baner can be rented at an average price of Rs 17 per sq ft, while a multi-storey apartment can be rented at Rs 14 per sq ft. According to JLL, Baner has witnessed an appreciation of 36.51% in land rates in the last 2 years. The prices of residential properties have accelerated to 13% in the locality in the last few quarters. This has marked the arrival of a number of developers to the locality. Some of the upcoming projects in the locality include Rohan Leher Phase 2, Rohan Seher Phase 2, Green Jewels, Aurus, Teerth Towers etc.
Property consultants confirm that Baner has a huge potential for growth since, Aundh is saturated and Balewadi is not properly developed. All such factors have triggered the growth of real estate in the locality and have made it one of the hottest property destinations in Pune.
