Vishrantwadi–Tingre Nagar stretch offers high investment options
The Vishrantwadi–Tingre Nagar stretch in Pune has been offering a host of good investment opportunities to home buyers. It is a promising location surrounded by industrial hubs, with a range of properties, offering huge potential for real estate investment.
Vishrantwadi is a relatively new residential neighbourhood witnessing huge development in residential real estate segment. The stretch is towards the northern part of the city and includes various localities like Mohanwadi, Pratik Nagar, Shanti Nagar, Kasturbawadi, Phule Nagar, Mental Corner, Dhanori, Police Lines, Tingre Nagar and Kalas.
Connectivity
This stretch has good connectivity to other parts of Pune city. Other transport options include auto rickshaws. Roads close to Vishrantwadi are the Vishrantwadi-airport road and Dhanori road. Vishrantwadi is about four kms away from the Pune international airport and Tingre Nagar is about two kms away. The Pune junction railway station is at about 7 to 10 km from both the areas.
Public Transport
Good public transport facility is provided by Pune Mahanagar Parivahan Mahamandal Limited (PMPML). One can reach different parts of the city from Vishrantwadi–Tingre Nagar stretch by city-buses from nearest bus stops like Vishrant Wadi, Kranti Chowk and Kasturba General Hospital. The PMPML is planning to implement BRTS on Alandi road and the Vishrantwadi-Airport Road by which the connectivity in the region will get a further boost.
Social Infrastructure
Growth in social infrastructure has led to the sudden surge in residential properties in the vicinity. The social infrastructure of this area includes hospitals like Konkar hospital and Kasturba general hospital, Big Bazaar, shopping malls like Lifestyle mall, Pune central mall and Ishanya mall. Some of the major schools in the locality include Pune International School, Rosary School, and Immanuvel Marthoma School. Few foremost educational institutions in the area namely Nowrosjee Wadia College and Genba Sopanrao Moze College and Vishrantwadi Pune Symbiosis College Of Arts Commerce, attracts students from all over the country and abroad.
Real estate and price trends
The Vishrantwadi-Tingre Nagar stretch can be a good option for property investment. One reason for this is the close proximity of both localities to the IT areas.The Vishrantwadi-Tingre Nagar stretch enjoys easy connectivity with IT hubs such as Tata Consultancy Services, Libricon Solutions and Incotec Software India Pvt Ltd. Some of the localities such as Viman Nagar, Koregaon Park, Yerwada and Kalyani Nagar are considered to be quiet residential options, as they are cut-off from traffic and are free from pollution. IT professionals mostly single, or with small families, purchase smaller units here.
A number of real estate developers and builders have invested in realty projects in this locality. The average price per sq ft for a multistorey apartment is around Rs 5,190. The average rent per sq ft for a multistorey apartment is Rs 13. Price for residential properties have seen an upward surge of 6% in the vicinity. Generally multi storey apartments are preferred by home buyers.
Some of the upcoming residential projects in the locality include Uttam Townscapes by Fortune Developers and Builders, La Tierra by Shriram Housing, Environ by Nyati Group, Kukreja Heritage by Kukreja Builders, etc. Their projects offer 1, 2 and 3-BHK units, starting from Rs 40 lakhs. These apartments include amenities like clubhouse, swimming pool, children play area, jogging park, indoor games, outdoor games, power backup etc.
| Micro-market | Avg price for Apartments (per sq ft) | Avg price in April-Jun 2012 (per sq ft) | Avg price in April-Jun 2013 (per sq ft) | Rate of Appreciation |
| Viman Nagar | 6806 | 5794 | 6806 | 17% |
| Kalyani Nagar | 8754 | 5794 | 8754 | 51% |
| Tingre Nagar | 4850 | 4316 | 4850 | 12% |
| vishrantwadi | 5196 | 4529 | 5196 | 15% |
1 BHK and 2 BHK apartments have seen the highest demand in both Vishrantwadi and Tingre Nagar. 1 and 2Bhk size would come around 540 sq ft to 1140 sq ft. Vishrantwadi has recorded about 45 per cent demand while Tingre Nagar has recorded 48 per cent demand for 1 and 2-BHK apartments, respectively.
The Vishrantwadi-Tingre Nagar stretch can be a good option for property investment. Many developers are coming up with residential projects, mainly due to its proximity to the airport, railway station and excellent connectivity that serves as the key driver for price appreciation in real estate values in the area.
