Areas offering affordable residential apartments in Pune
Pune is fast transforming into a prominent market for affordable residential accommodation. With the growth in the IT sector of the city, the demand for residential accommodation in the city increased considerably. This resulted in many areas surrounding the IT corridor being beyond the affordable range of buyers looking for affordable residential accommodation in the city. However, in recent times, the market for affordable residences has grown in proportion with the availability of affordable residential options under Rs 5,000 per sq. ft. in many areas around the city.
Affordable areas around Pimpri-Chinchwad
There are many areas around the city renowned for the availability of affordable residential apartments with values ranging from Rs 20-40 lakh. Most of these micro-markets for affordable residential apartments are along the northern part of the city, particularly in areas surrounding Pimpri-Chinchwad. Pimpri-Chinchwad is considered to be the “twin city” of Pune and commonly called as the Pimpri-Chinchwad Municipal Corporation or PCMC. Some of the areas surrounding Pimpri-Chinchwad renowned for the availability of affordable apartments are Bhosari, Rahatani, Talegaon, Akurdi, Alandi, Chikhali, Lohegaon, Dighi, Kiwale, Moshi, Punawale and Hingewadi, among others.
Other affordable areas
There are many other residential pockets across Pune which are renowned for affordable apartments. Some of the residential areas in the south of the city known for affordable housing include Ambegaon, Dhayari Road, Handewadi, Kondhwa, Mohamadwadi, Narhe, Pisoli and Shivane, among others. Besides there are a few areas located on the east of the city like Manjri, Phursungi, Keshavnagar, Sasane Nagar and Wagholi, as well as areas like Pirangut and Punawale, on the west.
Advantages
Despite being tucked away from the heart of the city as well as from the IT hubs, most of these areas are well connected to major roads in the vicinity. Areas in the north of the city including Pimpri-Chinchwad and its surrounding areas are well connected to major roads like the Mumbai-Pune Expressway, the Mumbai-Pune Bypass road, the Old Mumbai-Pune Highway as well as the Pune-Nashik Highway, among others. Areas along the south of the city are also well connected through major roads like the Shreemant Thorle Bajirav Peshve Road, the Saras Baug Road, the Shivaji Road as well as the Satara Road, among others. Areas along the east are connected through the Ambedkar Road, the Pune-Solapur Road as well as the Mundhwa-Kharadi Road, among others. Some of the major roads connecting affordable areas on the west of the city are Maharshi Karve Road, the JM Road, the NC Kelkar Road as well as the Laxmi Road, among others.
These areas also have good infrastructure facilities like schools, colleges, hospitals, religious institutions, shopping centers, restaurants, banks, parks, entertainment facilities, among others.
Value of affordable residences
The value of affordable apartments in these areas ranges between Rs 3,000-5,000 per sq. ft. In actual terms, the value of such apartments ranges between Rs 20-40 lakh. Some of the areas where the value of apartments ranges between Rs 3,000-4,000 per sq. ft. are Chakan, Talegaon Dabhade, Pirangut, Alandi, and Pisoli, among others. Areas where the value of apartments ranges between Rs 4,000-5,000 per sq.ft are Dighi, Lohegaon, Wagholi, Moshi, Chikhali, Kiwale, Punawale, Manjri, Handewadi, Phursungi, Bhosari, Narhe, Keshavnagar, Sasane Nagar, Akurdi, Mohamadwadi, Ambegaon, Dhayari Road, Kondhwa and Pimpri-Chinchwad, among others (the areas are given in the order of their increasing value).
Developers
Some of the major completed affordable apartment projects in different areas are given below. Sara City by Sara Builders and Developers and Eiffel City by Eiffel Developers and Realtors are some of such projects in Chakan. Expat Genesis by Expat Group and Kukreja Heritage by Kukreja Builders are some projects in Alandi. Sneh Vihar by Sneh Construction Group and Sarthak Residency by Sarthak Housing are some projects in Shivane. DS Mount View by DS Group and MR Pride by MR Constructions are some projects in Dighi.
Some projects in Lohegaon are Aurum Elementto by Aurum Developers and Bhakti Elegance by Bhakti Group. Bhandari Savannah by Bhandari Associates and Dreams Sankalp by Dreams Group are some projects in Wagholi. Some of the projects in Moshi are Padma Prakash by Prakash Construction Company and Ideal Residency by Ideal Vastunirman. Rama Richwood by Rama Group and Ellora Nakshatra by Ellora Group are some projects in Chikhali. Some projects in Kiwale are Lotus Vrindavan by Lotus Group and Shroff Shagun by Shroff Group.
Shiv Sai Complex by The Shiv Builders and Nandini Spring Field by Anand Group are some projects in Manjri. Some projects in Handewadi are Navratna Samrudhii by Navratna Properties and Binawat Complex by Rajendra Construction. Nandani Shriniwas by Nandani Group and Bhakti Vihar by Makwana & Sons Promoters & Builders are some projects in Phursungi. Some projects in Bhosari are Creative Rainbow by Creative Shelters Builders & Developers and Nisarg Dream House by Nisarg Group. Media Platinum Park by Media Contructions and Suvidha Angan by Suvidha Group are some projects in Narhe Gaon. Some projects in Keshav Nagar are Anandtara Tarabai Park by Anandtara Construction and Shyama Heritage by Shyam Builders.
Nilesh Complex by Nilesh Construction and Magarpatta Grevillea by Magarpatta City are some projects in Sasane Nagar. Some projects in Akurdi are Essen Aishwaryam by Essen Group and Horizon Sai Vihar by Horizon Developers. Viva Sarovar by Viva Swaraj and Pristine Pacific by Pristine Properties and some projects in Ambegaon. Some projects in Kondhwa are Karia Konark Pooram by Karia Developers and Runwal Euphoria by Runwal Group. Kohinoor Shangrila by Kohinoor Group and Mahindra Royale by Mahindra Lifespace Developers are some projects in Pimpri. Some projects in Chinchwad are Kunal House by Kunal Group and Sukhwani Udyan by Sukhwani Constructions.
