Why Residential Projects in Pune
Are in High Demand: A Real Estate Analysis 2024
Pune is currently seen as a good place to invest in Residential Projects. More and more people today go to Pune when they need a house or have plans for property investments. The rich historical background of the city, well-known colleges, availability of large amount vacancies and favourable standard of living factors are driving the growth spurt in the real estate sector. This section explains why residential projects have gained an increased popularity in Pune city; taking into consideration some statistical data throughout.
Pune: A Growing Metropolitan Hub
The institution’s town has grown into an active centre within a few years. Pune is witnessing increased demand due to the growth it is experiencing in its industries as well as an influx of people moving into the city for employment or education-related reasons. Such migratory trends have become common nowadays owing to globalization and the liberalization process wherein every day we witness that people relocate from one place to another seeking better opportunities as well improved facilities available thereon than they had earlier at their native places.
According to a publication, cities similar to Pune record around 3% – 4% population increase annually. The rising number of inhabitants has resulted in increased demand for all kinds of infrastructure facilities in these cities including housing, roads, hospitals etc., which are essential for the day-to-day life of people residing there.
Pune is known as the home of many universities including some internationally recognized ones which attract students from India and abroad. The rising number of students means that there should be available lodging for lecturers who form part of this ever-growing mix as well as support staff attached to such learning institutions. There are over one hundred educational facilities in Pune; therefore, there is an urgent need for houses of stay.
It has now become a centre for business and innovation with special reference to Hinjewadi, Baner, and Kharadi which top multinationals have set their eyes on. Some of the prominent companies that have invested in Pune as a way of getting access to the highly qualified manpower available herein include Infosys, TCS, Wipro and IBM among others. According to the JLL India report, there has been 8% growth in the technology sector of the city over the last decade. This development has also resulted in increased demand for housing near IT hubs because most employees would prefer living close enough to where they work hence reducing travelling time.
Affordable Housing Options
The Property market prices within Pune are relatively cheaper than those in Mumbai. Even though the cost of properties is rising in Mumbai, Pune offers affordable as well as luxurious options which attract buyers who look out for quality homes. As per Anarock Property Consultants, the price range of properties in Pune is generally between ₹5,500 and ₹8,500 per sq ft. In contrast, prices in Mumbai can go from ₹10,000 to ₹25,000 per square foot. This price disparity has made Pune a favoured choice for home buyers and investors looking to improve their living standards.
Variety of Housing Options
Pune real estate scene caters to budgets. Whether you’re in the market, for an apartment, a house, or a fancy villa there are options to match your preferences. Developers are rolling out projects that appeal to everyone from budget-conscious buyers to those looking for luxurious living spaces. For example, areas like Wagholi and Talegaon offer homes while Koregaon Park and Kalyani Nagar are renowned for their properties. This diversity ensures that buyers have a range of choices.
Government Initiatives
Moreover, government initiatives aimed at promoting housing have sparked interest, in projects, in Pune. The Pradhan Mantri Awas Yojana (PMAY) scheme focused on providing housing for all has made homeownership more accessible generating buzz, for properties citywide. According to the Ministry of Housing and Urban Development around 30,000 affordable housing units have received approval, in Pune through the PMAY program contributing to the market expansion in the region.
Infrastructure Development for Residential Projects in Pune
Pune has a network of roads that link up with highways making it easy to get around the city. The upcoming Pune Metro project set to start in 2025 will improve connectivity even further. Once the metro is operational traffic congestion is anticipated to reduce and travel times speed up making neighborhoods close to metro stations more attractive for residents. Moreover, the Mumbai Pune Expressway and the Pune Bangalore Highway provide routes to cities. This convenient access has drawn people to Pune who work in urban areas but prefer a peaceful and affordable living environment.
Expanding Social Infrastructure
Pune is known for its amenities like schools, hospitals, shopping malls, and recreational areas. Areas such, as Magarpatta Kalyani Nagar and Viman Nagar are popular among families for their blend of homes and community facilities. The city is seeing the development of malls, movie theatres, and healthcare centres, which adds to its appeal. According to a report by Knight Frank on real estate Pune has experienced improvements, in its infrastructure over the past five years. This progress has attracted residents and boosted the demand, for housing.
Smart City Development
Pune is part of the Indian government’s Smart City Mission aimed at upgrading the city’s infrastructure, digital connectivity, and quality of life. This project focuses on improving water supply, sewage systems, and public transport, and incorporating technology. With Pune’s transformation into a city attracting more people, there is a growing need for housing.
Quality of Life in Pune
Pune’s appeal lies in its pleasant weather and lush greenery year-round. Unlike other cities, Pune boasts a climate that makes it an enjoyable place to call home. The city is also renowned for its surroundings featuring parks and open spaces that contribute to a high quality of life.
In neighbourhoods such as Aundh, Baner, and Pashan residents can find parks and recreational areas offering a retreat from the city’s fast pace. This focus on spaces makes Pune a favoured choice for families and retirees seeking a peaceful and living atmosphere.
When it comes to safety Pune stands out as one of the safest cities in India. Its crime rate is lower than metro cities making it an appealing option for families, young professionals, and students.
As per a report by the National Crime Records Bureau (NCRB) Pune boasts crime rates among Indian cities influencing the local real estate market. Safety is a consideration for individuals when selecting a place to reside and Pune meets that requirement.
Pricing Overview of Kumar Builders Properties in 2024
Understanding the real estate prices is crucial when making an investment choice. Here’s a summary of the prices for some of Kumar Builders popular projects in Pune as of 2024.
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Demand from Non-Resident Indians (NRIs)
Pune is a city that attracts investments from locals and NRIs. Pune is seen by NRIs as an emerging investment location because of favourable factors like appreciation prospects, costlier-by-the-day prices and comparatively reasonable expenses. A lot of NRIs want to purchase houses in Pune for their loved ones or for holiday purposes.
The survey conducted by 99acres indicated that approximately twenty-five per cent of NRI’s property queries. It becomes one of the preferred choices for NRIs investing in the property sector who see that the city is growing day by day for some good reasons; such as posh residential areas!
Emerging Real Estate Hotspots in Pune
Hinjewadi
Due to the presence of Hinjewadi IT Park in which many multinational corporations are located, Hinjewadi is among the most preferred residential places in Pune. Businesswise and otherwise, there has been massive development in this locality that it has been able to allure a great number of IT experts who prefer residing near their working places. Property prices in Hinjewadi have risen by 5-7% p.a. for the last half-decade, according to a report from Anarock, which makes this place a hot investment target.
Kharadi
Kharadi is an upcoming prime location situated on the east side of Pune for residential purposes. It houses one of Pune’s biggest IT hubs – EON IT Park. The locality enjoys good connectivity with major areas of town and provides all kinds of dwellings – cheap flats as well as expensive bungalows. As per PropTiger’s real estate report, there has been an annual appreciation of about 8-10% in property rates at Kharadi. This rising trend will continue because many more IT companies are planning to open their offices here.
Wakad
Wakad is another developing locality situated towards the north of Hinjewadi. It lies at an excellent location for anyone planning to buy or invest in houses or Residential flats in pune with easy access through the Mumbai-Pune Expressway and upcoming metro projects. At an average property price of around ₹7,000 – ₹9,000 per square foot, it offers affordable investment options that seem lucrative too in Wakad.
Kumar Builders Notable Residential Projects in Pune
Kumar Builders is a reputable property developer from Pune that many people trust. It is known for constructing well-built houses suitable for all. The high standard of quality, aesthetics, customer satisfaction, and amenities that are incorporated have ensured that the company remains among the leading real estate firms and is most preferred by home buyers within the region. See some of the residential projects located in Pune.
Let’s explore the impressive projects by Kumar Builders focusing on their unique qualities and prime locations.
1. Kumar Sophronia, Kalyani Nagar
Kumar SOPHRONIA situated in Kalyani Nagar close to D Mart is a choice for upscale living in Pune. The project offers 2BHK and 3BHK apartments perfect for those looking for convenience and a cozy lifestyle in a prime location.
Project Details
- The prime residential property project situated at Kalyani Nagar, Pune is known as Kumar Sophronia. It consists of two and three-bedroom spacious houses which are just perfect for people looking forward towards comfortable and elegant living and buying such kind of property.
- Kalyani Nagar is located near IT hubs, malls, recreational centres, and schools hence it’s an important place in Pune. The presence of D-Mart just the opposite, as well as quick connectivity with major locations like Koregaon Park or Viman Nagar, makes living at Kumar Sophronia truly comfortable.
- The houses in Kumar Sophronia are designed spaciously and attractively. The sizes range from 1,005 sq. ft. for the 2 BHK to 1,214 sq. ft. for the 3 BHK units thus providing enough space for larger families. It boasts of some amenities such as a swimming pool, clubhouse, garden, and gymnasium as well as a tight security system available twenty-four hours, all of which combine to offer luxurious living conditions to occupants.
- Such pricing reflects the high-end nature of the project and its location. At approximately ₹1.73 Crores, you can secure yourself a nice 2BHK apartment while the price of a 3BHK Unit goes up to ₹2.08 Crores. However, Kumar Sophronia proves otherwise as it combines luxury and comfort for anyone looking for an expensive home around Pune.
KUL Utsav, Khadi Machine Chowk, Kondhwa
If you are a family looking for affordable and comfortable houses, KUL Utsav in Kondhwa could be a great choice. This project offers different sizes of flats to select from along with modern amenities making it a good deal without straining your budget.
Project Details
- KUL Utsav in Kondhwa, Pune, is a well-made home project for families wanting peace without losing modern comforts. It offers 2, 2.5, and 3 BHK homes, great for both small and big families.
- Its spot at Khadi Machine Chowk gives great links to other Pune parts, including key places like Camp, NIBM, and Hadapsar. Also, Kondhwa is a rising home area known for its calm, schools, and health services, making it a top pick for families.
- KUL Utsav has top amenities like gardens, a community hall, children’s play zone among others. The houses measure between 558-889 sq. ft. but are still spacious enough to ensure that one gets the best out of every available space at a comfortable cost of between fifty-seven lakhs for a two-bedroom flat and ninety-eight lakhs for three BHK.
- These prices fall within the reasonable range of this locality; at approximately Rs. 57 Lakhs for a 2BHK and up to Rs. 98 Lakhs for 3BHK. The maintenance is also low thus making it ideal for families who have a tight budget but would want to buy a house at Kondhwa in Pune.
KUL ECOLOCH, Mhalunge
KUL ECOLOCH in Mhalunge is a modern housing project that offers a range of affordable flats and great amenities. Its an ideal choice for those looking to be close to the city yet still enjoy a peaceful environment.
Project Details
- KUL Ecoloch is a top-notch home project in the calm and growing area of Mhalunge, Pune. It mixes city living with green settings, perfect for buyers wanting peace but staying close to urban life. With nicely made 1, 2, 2.5, and 3 BHK homes, KUL Ecoloch meets many housing needs.
- This project is well-placed near big spots like Hinjewadi IT Park and Balewadi Sports Complex, drawing IT workers and families. It has modern comforts like gardens, a club, a gym, and pools, offering a cosy and posh life for its people.
- On costs, KUL Ecoloch has fair prices from 1 BHK to large 3 BHK homes. The home sizes range from 480 sq. ft. to 1,330 sq. ft., fitting different family sizes and needs. The prices are good, with a 2.5 BHK costing about ₹1.07 crore to ₹1.15 crore, suitable for middle to high-income families.
- With great links to Baner, Aundh, and Hinjewadi, and soon metro services, KUL Ecoloch is set to give lasting value and ease for home buyers.
How to Book a Unit in These Projects
It is easy to book a unit in the residential projects of Pune. These projects are meant to ensure that customers have an easy buying process without stress. At first, one has to either log onto the developer’s website or pay a visit to their sales office to see what available options they have for projects and units. In most cases, many projects have a good marketing team which comprises personnel that can provide virtual tours or arrange for physical visits at the project location. If you have taken time to select a unit that suits your requirements well including the money allocated for it, then you will need to complete the booking form. The latter contains a space whereby one will input his or her particulars as well as some information regarding the property chosen.
Once the form is sent, some deposit should be given so that the unit can be secured. This deposit ranges from 5% to 10% of the property price as a booking amount depending on the policy of the developer. After receiving the booking amount, an allotment letter is given by the developer confirming that you have reserved the unit. At this stage, the buyer may also go for customization or seek information on certain issues. One should read and understand every clause contained in the agreement document and see that everything is clear about the booking process under discussion. Before appending signatures on agreements, it would be prudent enough for one to consult with a legal expert so that he or she does not experience any issues in future days.
Payment Options for Purchasing a Unit
residential projects in pune, there are many ways of payment which are meant to fit every type of buyer’s financial capability once they decide to purchase a house. Paying some considerable amount upfront commonly known as a down payment plan is one of the methods that can be used in this case (normally 10% to 25% of the cost). The other portions are paid during the construction process or after the completion of the project. This strategy attracts people with upfront savings because at times the constructors give cash discounts.
Alternatively, many homebuyers take advantage of home loans whereby they pay some little upfront cost and then get financial support from banks for the remaining part. Most developers tie up with top banks providing pre-approved loans and an easy documentation process. The buyer then pays the loan back monthly within a period between 15-30 years depending on his or her financial strength. In addition, the developers might also provide a flexible payment scheme known as stage-wise payments. Through this plan, the buyers will be able to pay in pieces as the project moves on thus it reduces much financial burden. Buyers must assess their economic condition and seek advice from financial consultants when deciding on the right payment mode.
Final Thoughts
The demand for residential projects in Pune is increasing continuously and driving the market in Pune for some reasons. The growth of the IT sector, affordable homes, good infrastructure, and expansion of the city of Pune is very attractive for buyers and investors too like homebuyers. Climate, safety measures, huge gardens, and parks are additional advantages offered by Pune which make it an ideal place for residence.
Even the NRIs are now looking at the residential projects available in Pune which are attracting a lot of attention. Hinjewadi, Kharadi, and Wakad are some emerging property hot spots where one can invest money and expect good returns on investments.
For those who wish to have better living standards, be they first-time home buyers or investors; they don’t need to look beyond Pune as there are a lot of options available here. It is projected that the real estate sector in the city will continue moving upwards thereby posing as a wise decision for anyone who wishes to invest their money into properties.
So, if you’re considering buying a home or investing in real estate, Pune should be on your radar.
Testimonials
Here is some feedback from people residing in apartments purchased from Kumar Builders that are prepared for living:
Pune has several promising upcoming residential projects across various localities. Some of the best upcoming residential projects in Pune include developments in areas like Hinjewadi, Kharadi, Baner, and Wagholi. Popular developers such as Godrej, Kolte-Patil, and VTP are working on large-scale projects offering modern amenities and excellent connectivity to IT parks, schools, and hospitals.
Yes, Ready to Possession Flats in Pune are a great investment. Buyers can move in immediately, reducing the need for temporary rentals. There is also no risk of project delays, which is a common problem in under-construction properties. The resale value of ready-to-move-in flats is generally stable, especially in Pune’s real estate market.
Financing the purchase of Ready to Possession Flats in Pune is easier as most banks prefer lending for ready properties over under-construction projects. This is because ready flats have fewer risks, and banks can evaluate the property’s value more accurately. You should compare loan options from different banks and understand the interest rates and tenure before making a decision.
When selecting a builder for residential projects in Pune, it’s crucial to check their reputation, past projects, and financial stability. Look for builders with a proven track record in timely delivery, good construction quality, and transparent dealings. Developers like Kolte-Patil, Godrej Properties, and VTP Realty are some of the trusted names in Pune’s real estate market.
The average cost per square foot for residential projects in Pune varies based on the locality. Premium areas like Koregaon Park and Kalyani Nagar can range from ₹10,000 to ₹20,000 per square foot, while emerging localities like Wagholi and Undri offer rates between ₹4,500 to ₹7,500 per square foot. Prices also depend on the project’s amenities and developer.
Family-friendly residential projects in Pune often come with amenities like schools, playgrounds, parks, and good security. Projects in areas like Baner, Kharadi, and Magarpatta are considered ideal for families, offering proximity to good schools, hospitals, and recreational facilities. Projects by developers like Kumar Properties and Godrej Properties are known for their family-centric designs.
Several residential projects in Pune are RERA-approved, ensuring legal transparency and adherence to regulations. RERA-approved projects can be found in popular areas like Wakad, Hinjewadi, and Kharadi. Buyers can visit the official RERA website of Maharashtra to verify the project’s status before making a purchase.
Yes, there are several affordable residential projects in Pune that cater to first-time homebuyers. Localities like Wagholi, Undri, and Ravet offer budget-friendly options with 1BHK and 2BHK configurations. Developers such as VTP Realty and Goel Ganga Developments are known for offering quality homes at reasonable prices in these areas.
Pune is home to several luxury residential projects, especially in areas like Koregaon Park, Kalyani Nagar, and Baner. These projects offer high-end amenities like swimming pools, gyms, clubhouses, and smart home technology. Developers like Panchshil and Kolte-Patil are known for their premium offerings in these localities.
Before investing in residential projects in Pune, consider factors like the project’s location, the developer’s reputation, amenities offered, and proximity to essentials like schools, offices, and hospitals. It’s also important to check the project’s RERA approval status and ensure that it aligns with your long-term investment goals.