‘Location’ plays a major role in buying a home and other equally important aspect is ‘budget’. When it comes to Pune, the city has multi-dimensional advantages. Along with the rapidly growing IT and IteS sector, which is all set to gobble Bangalore, the Oxford of East is already a frontrunner for the thriving manufacturing, healthcare and education sectors.
So, due to the influx of people from different walks of life settling in the city, the need of housing too has growing rapidly and Pune is currently bursting at the seams. The peripheral areas are hence growing at great pace.
Property market in Pune is aninvestment hotbed with most advantageous locations in the city are becoming beehives of real estate developmental activity, says Arvind Jain, Managing Director of Pride Group.
Due to unprecedented property rush, areas such as Viman Nagar, Koregaon Park and Kalyani Nagar – the most preferred real estate destinations for high-salaried IT class -- have already reached a saturation point. Whatever limited options available are expensive and beyond the reach of middle-income end-users and even investors. The classic example is Pune’s latest and most promising IT hotspot Kharadi, which is going rapidly towards the saturation level.
Amidst unprecedented real estate development and pricing war, it seems highly impossible to find new location in Pune which could full both the demands of the home buyers – location and affordability. However, Charoli, located at Lohegaon, is slowly but steadily becoming a new real estate destination, which offers the both.
Charoli is situated about 6 km from Pune Airport in Lohegaon, the same factor, which had made both Nagar Road and Viman Nagar, the hot real estate destinations. In fact, those relatively unknown areas adjoining Pune’s airport are also likely to face real estate development – in residential, hospitality, retail and commercial sectors - in the days to come. The airport has proved to be the driving force for realty boom around the villages.
Apart from closer to the airport, Charoli has other location advantages. It is situated just 10 km from Pune railway station, seven km from the IT hub of Kalyani Nagar, eight km from the high-end residential area Koregaon Park and 15 km from Shivajinagar.
Apart from this, Charoli lies closer to the proposed 170-km Ring Road around Pimpri-Chinchwad (PCMC) and Pune. This huge infrastructure facility will provide high-level of inter-connectivity between Pune and PCMC region and beyond which will elevate the real estate profile of nearby locations.
Will Charoli meet the aspirations of real estate end users and investors? Several instances in which developers’ claim about the rapid improvement of a particular area had ultimately proved to be loss for investors. It is also true that many locations in Pune hold inherent promises due to their location. However, several of them are yet to prove their worth. This is mainly due to the fact that many such locations do not fall within Pune Municipal Corporation (PMC) limits, resulting in limitations in terms of sanitation services, electricity and water supply and road networks.
On the other hand, Charoli will not face this fate as it falls within the PMC limits and has all the necessary benefits, says Arvind. In nutshell, Charoli is ready to make a quantum jump into Pune’s real estate map.