Pune has been a developing city and today it boasts of many industrial, commercial as well as residential areas. Due to shrinking areas in some regions, new and fresh residential zones have come up making way for more progress and development. After the advent of IT traffic, Pune has seen a steep rise in its market value. Residential Properties in Pune is much in demand these days.
Pune is not a metro city but the property choice and also the living standards of people here are not less than any other metropolitan city. Here is a sneak peek into some of the upcoming residential areas in Pune.
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Baner
Baner, a suburban area, contains many of the top IT companies. It is home to other small companies like Futurism Technologies, Survik Software, Josh Software etc. This place is growing as a commercial as well as residential area. This place is an excellent hub for youngsters as well as aged people. Climate here is very good as compared to other parts of Pune. Due to these factors, property rates are touching skies, its average rate per square rate being Rs 7,200.
Kothrud
This place is very famous for it has the biggest flyover of the city. After 1980, this place has witnessed rapid advancement in various aspects. This place has most of the prominent educational institutes of Pune; some of them being Maharashtra Institute of Technology, Abhinava Vidyalaya English Medium School and MKSSS’s Cummins College of Engineering for Women. Talking about property rates here, the average rate is around Rs 9,400 per square feet. If you go for a rented 2BHK flat then its rent can go up to 16000 per month.
Wagholi
This place is situated in the outskirts of Pune. You will find this area on Pune-Nagar highway. This place is not on the top lists for people planning to get property in Pune. But if you have a tight budget then you can invest here and reap benefits after some years. Middle class people can afford buying a flat here. Per square rate is Rs 4,950 while a rented 2BHK flat will cost around 10,000 per month.
Balewadi
This place has developed recently. It covers north-western parts of the city. It is famous for having the famous Shree Shiv Chhatrapati Sports Complex. Another famous and notable place here is India House, which is considered as a hub for the art and culture melting pot of the city. If you are planning to buy property in Balewadi then you will get the rates around Rs 6500 per square feet. Thus, a 2BHK in a good society here can be bought for 65 lakh. Monthly rent for the same will be around Rs 15,000.
Ravet
As you cross Mumbai-Pune Expressway, you enter Ravet before any other area in Pune. It is located about 20 kilometres away from the main Pune area. The infrastructure here is developing right now. This place is home to many of the commercial buildings like Aditya Birla hospital, the Bajaj Auto factory and the DY Patil College.
Thus the reality industry is trying to make the most out of these areas. These places are developing at such a huge rate that within a few years, rates here will be more than double of what they are now.
