The city of Peshwas, Pune, has come far ahead from classic forts and battlefields to IT establishments and soaring real estate. With fast paced urbanization and infrastructural development in this city, it has now become among the top Tier II cities in India. An enterprising cousin of the Mumbai, this city is the next big thing when it comes to commercial properties and residential housing investments.People from all over the country and even international citizens, are taking interest in this city, thus, there is an overwhelming demand for villas and flats in Pune. This demand is only anticipated to grow in the coming years. Prime locations like Koregaon Park, Hinjewadi, Talegaon, and others are already full with high profile complexes and buildings. Along with that, you may find quality housing at Wagholi, Kharadi, Undri NIBM, Kondhwa and Dhanori. But, the upcoming area for real estate in Pune is Baner.
Let’s know more about this area and its potential as residential and commercial property investment.Located just off the Katraj-Dehu Road Bypass, Baner, a small suburb of Pune offers excellent connectivity to most part of the city and the national highway four. It is located 20 kilometer from Pune airport and 10 kilometer from railway station. As Balewadi came into limelight during the Commonwealth Youth Games held in 2008, the closely situated Baner also got considerable share of popularity.
Additionally, the commercial properties that were close to this area like Hinjewadi IT Park led the demand for quality housing in this place.Over the last few years, this place has seen a steady growth and the property rates have increased up to 20 percent, annually. The costing here has increased from 5,100 per square feet to a price of 6,000 per square feet, and experts believe this is just the beginning. With more and more development of SEZ and IT Parks, nearby residential complexes and micro markets are on a rise.Just like the demand for small apartments in Bangalore, one bedroom-hall-kitchen flats are sold the most in this space.
The IT executives and expatriates coming to this city to work near Hinjewadi usually looking for comfortable and affordable housing that has all the facilities, thus, Baner apartments are ideal for them. Additionally, even for investment purposes this is a great idea, as most migrants to this city are looking for a rented space closer to their work space.Pune’s high profile developers are exploring this suburb of the city and creating exceptional, budgeted homes for working professionals.