Much like other cities, Pune’s outskirts have rapidly started developing in the wake of them being realised as investment destinations. The peripheral areas are now considered for both end use and investment. The price of 3 BHK flats in Pune are slated to double in the coming three years as home owners are willing to travel 15 to 20 kilometres if they find a unit that suits their lifestyle. Therefore, if you have a restricted budget, you can look for property options here.
If you are looking for new construction in Pune to reap lots of benefits without investing much, then Urali Kanchan, Sanswad Road and Shirwal are top picks. They are located around 33 kilometres towards the southeast of the city.
Uruli Kanchan is also popular among investors for its proximity to the Naturopathy Ashram. The area has several villa and multi-storeyed residential complex projects that have come up. However, the area’s civic infrastructure has to be bettered. Those coming to the area, prefer flat for rent in Pune for a few days.
The projects that are under construction shall be offered possession in the coming 6 months. The rest are slated to be delivered in the coming two years. The sizes of plots available here is 333 to 3000 sq yd. They are located within gated communities and cost around Rs 1 to 10 lakh. Therefore, you can get apartments within Rs 12 to 40 lakhs here.
What drives the area’s real estate is its proximity to the Jejuri MIDC and Hadapsar IT Belt. Aside from this, the neighbourhood is also counted as a destination for second homes as it is close to tourist areas like Sarasbag, Katraj Zoo, Purandar and Narayanpur. Pune property rates for plots in the area range from Rs 4200 to 6500 per sq yd, which used to be Rs 3100 to 4600 per sq yd.
The area has residential plots measuring between 1500 and 3000 sq ft which cost between Rs 3 and 7 lakh whereas multi-storeyed apartments have been priced between Rs 30 and 35 lakh. Because property prices of Hadapsar have gone beyond the budget of middle income buyers, properties here can be purchased without burning a hole through the pocket.
The area is known for the manufacturing plants belonging to appliance and automobiles brands. The area has large tracts that can be availed for development. Most of the lands available are agricultural ones which have to be converted to the R Zone for housing development.
There are more than 15 new projects in Pune that are under construction here. These areas have flats available for Rs 10 to 20 lakh. Plots can be availed in the area as well which measure between 1000 and 3000 sq ft. They cost around Rs 6 to 15 lakh. Even though leading developers are yet to enter the market, local developers offer possession of housing units in the coming six months. They are available with a range of amenities that can be compared to branded projects. The values of plots available in the area range from Rs 4230 to Rs 6550 per sq yd. The values have gone up since the past year. Prior to that, plots were available for Rs 4700 to 5400 per sq yd in 2014.