Imagine living in the centre of the Pune-Mumbai-Nashik triangle, while enjoying a hill station-like climate, with the added bonus of easy connectivity to important areas. The locality of Talegaon is an embodiment of this very essence.
A historical town in the Pune district, Talegaon’s weather stays pleasant throughout the year, and is one of the driving forces behind the number of holiday homes coming up in the region. Once the ideal post-retirement spot for hundreds of Mumbaikars, Talegaon is now competing with other important localities of Mumbai and Pune even over mainstream real estate trends.
Surrounded by the Indrayani River and MIDC in the north, the expressway in the south, Chakan MIDC in the east, and the NH-4 connecting Talegaon with the Mumbai-Pune Expressway on the west, this locality has managed to retain its clean and green atmosphere despite rapid urbanisation and development.
Keeping with the sudden rise in demand for residential properties and commercial spaces, a number of builders have targeted Talegaon, and are thus now taking its realty market forward. Besides a variety of residential projects, many shopping malls and other commercial markets are also coming up in Talegaon. It’s safe to say that this once-idyllic weekend getaway is on its way to becoming a residential hub.
Connectivity and Transit Points
Good connectivity is one of Talegaon’s strong suits. Mumbai is 135 km away, and it takes a two-and-a-half-hour drive along the Mumbai-Pune Expressway to get there from Talegaon. Pune, however, is much closer; only 40 km away from Talegaon. There’s also the old Mumbai-Pune highway that passes by the south-western border of the locality.
A major transit point in this area is the Talegaon Railway Station. It is an important stop on the Mumbai-Pune railway route. Local, express, and passenger trains between Pune, Mumbai, Lonavla, Shivajinagar, and Kolhapur can be boarded from this station.
For air travel, the Pune International Airport is just 37 km away. It just takes an hour’s drive along the Old Mumbai-Pune Highway to get there from Talegaon.
MIMER Medical College and Talegaon Hospital
Nutan Maharashtra Institute of Engineering and Technology
PL Khandse Plaza
Siddhivinayak Ganesh Temple
Factors for Growth in the Past
Many things worked in Talegaon’s favour in the past. Right from excellent climate throughout the year to good connectivity, and from strategic location to affordable property prices, Talegaon was simply an attractive area. The development of the Mumbai-Pune Expressway close to this locality brought it closer to both Mumbai and Pune, and this increased connectivity further promoted Talegaon’s status as a real estate market.
One of the most prominent contributing factors in Talegaon’s growth has been its proximity to a number of industries along the Talegaon-Chakan corridor. This corridor, which is a Special Economic Zone (SEZ), houses the production units of a number of major automobile brands like Volkswagen, Bajaj Auto, General Motors, Daimler Benz, and Mahindra & Mahindra, along with over 700 large- and small-scale industries. The Mumbai Industrial Development Corporation (MIDC) invested in and developed this corridor, ultimately spiking up the demand for properties in the region.
The IT hub of Hinjewadi has also been a driving force for Talegaon.
Residential and Commercial Market
Residential Market Trends
The property market of Talegaon is both end-user and investor driven. It is an extremely lucrative market to invest in, because of the low property prices. The prices are bound to rise. Talegaon, with its strategic location on the Mumbai-Pune route, will be no exception to the trend of capital appreciation. The dominant property type here is apartments. Independent houses and villas, and residential plots are also available, but in lesser numbers.
The apartments available are spacious 1, 2, 3, and 4 BHK units, in a price range of Rs 3,000-4,000 per sq. ft.
Commercial Market Trends
Although the commercial market of Talegaon hasn’t quite made any name for itself, retail store spaces and commercial plots are still available for investment. The price range for the shops is Rs 5,800-6,200 per sq. ft., and that for commercial plots is around Rs 750-800 per sq. ft.
Increasing rail connectivity is a challenge for the local authorities. Dissatisfied over the continued neglect of the local railway station, the residents of Talegaon recently even blocked the railway tracks. And despite repeated demands that the Pune-Mumbai Sinhagad Express and the Pune-Nashik-Bhusaval Express make stops at the Talegaon Railway Station, no action has been taken.
Factors for Growth in the Future
A number of developers from all over the country are interested in Talegaon for setting up new residential ventures. Projects from developers like Sahara, Eiffel Developers and Realtors Ltd, Om Developers, Tata Housing Development Company Ltd, Namrata Group, and Vascon Engineers are on the cards for this locality. Soon enough the sky-line of Talegaon is going to be dotted with a number of impressive real estate projects.
Talegaon real estate is strongly driven by the industrial sector in Talegaon-Chakan corridor and the IT centre in Hinjewadi. Both these hubs have a lot of new projects lined up, a trend that’s going to augur well for Talegaon.