Undri – A Growing Residential Destination in Pune
Undri is a residential area in Pune near Hadpsar SEZ. The area lacked the necessary infrastructure required for a residential hot spot for a few years. However, with the emergence of the IT SEZs nearby and the NIBM road becoming increasingly congested, the focus is now back on the infrastructure development around the area, making it an upcoming residential realty hot spot.
Connectivity and access
Undri is an area in the east of Pune, close to the Hadapsar IT SEZ. It is very well connected via various expressways and local as well as interstate highways. Some of the important roads connecting the area to rest of Pune include NIBM Road, Katraj-Hadapsar Bypass Road and Saswad Road. There are several state and PMPML (Pune municipality) buses running between Undri and various areas of Pune. The Pune International Airport is about 17km from the area. Both Magarpatta City and Fursungi IT SEZ in Hadapsar are within a distance of 10km from the area. One can reach the SEZs via the Katraj-Hadapsar Bypass Road.
Infrastructure and social amenities
Undri lacked any significant infrastructure till recent years. However, the emergence of IT/ITeS sector in Pune and its growing population coupled with the growing real estate market in Pune have led to a good infrastructure development around Undri. The widening of Katraj-Phursungi-Solapur Highway is expected to improve Undri’s overall connectivity dramatically. The area’s proximity to NIBM and Wanowrie ensures that Undri’s residents have access to all the necessary amenities such as basic and higher education, healthcare facilities and entertainment facilities. Apart from these social amenities, the area enjoys green cover due to the strict Government regulations.
Real estate and trends
The overall development and demand for residential real estate near the SEZs have led to demand for real estate in Undri. The area is already witnessing a huge demand and supply of residential units. Some of the upcoming projects include Sai Ganga by Goel Ganga Development, Vedant Imperia by Dynamic Realty Ventures, Dhanashree Aangan by Atria Constructions and Kingston Elysia by Vedant Realtors. The most commonly supplied residential units are 1 and 2-BHK apartments. A 1-BHK apartment typically has a covered area of 550-680 sq. ft. and a 2-BHK apartment has a covered area of 895-1,250 sq. ft.
A 1-BHK apartment usually costs Rs. 20-30 lakhs, while a 2-BHK apartment costs about Rs. 30-50 lakhs. The property values too have shot up in the area in the last four years. The average property value in Undri was about Rs. 2,600 sq. ft. during the first quarter of 2010, while it was approximately Rs. 4,400 per sq. ft. during the last quarter of 2013. This is a hike of almost 70% in the last four years, indicating a growing demand for apartments in the area.
Affordable housing and the growth in property value has made several home buyers and investors enthusiastic about Undri. With continued infrastructure growth and proximity to the IT/ITeS companies, Undri is definitely becoming a real estate hot spot.
