Pune has been described as a rich, diverse, historical, and cultural city that has been shaped by its surrounding natural phenomena. Its roots can be traced back to the 8th century when it was named 'Punnaka', ruled by the Rashtrakootas, and became known as a 'Punya Vishaya,' or holy land. In the 17th century it emerged as a key battleground of the great Maratha king Chhatrapati Shivaji, later becoming the seat of power for the Peshwas. Temples, gardens, and centers of education flourished under their rule. Over the last 20 years Pune has undergone massive amounts of development. Its infrastructure has improved tremendously, as has its connectivity, and as such, Pune has become an important telecommunications hub. All of these improvements have created a number of opportunities.

Pune is an interesting place with a magnificent past and an equally bright future. In spite of all the changes that have resulted from the rapid advancement of the city into an industrial center coupled with the advent of many socio-entertainment activities, the people of Pune have worked very hard to maintain the values of their long-standing tradition and honorable way of life. Therefore, Pune can be considered to be a unique fusion of custom and contemporary.

The Rising Real Estate Markets & Investments In Pune

Everyone is trying to buy a property in Pune, from retirees to employees. All contributing towards the growth of Pune investment zones due to all the recent construction occurring throughout Pune. With many large residential developments having been constructed across all of Pune to accommodate the increasing requirement for houses due to the ever-growing population and requirement for housing. Each neighborhood within Pune has experienced different types of growth in the actual value of the property over different time periods, and thus particular neighborhoods will have much higher valued homes based off their respective size than other neighborhoods.

Since Jan 2021, many neighborhoods have been experiencing high levels of growth in value, with averages of over 50.3%. This high-value appreciation in percentage helps demonstrate that there is a great ROI on investing in Pune. Some neighborhoods have tremendous unrealized potential for individual growth due to their unique geographic areas and easy methods of connectivity. Additionally, there are numerous work opportunities within Pune’s ever-growing and thriving economy. These reasons provide a solid rationale for why Pune is a great opportunity to invest for a potentially large return on investment. The next portion of this article will help identify specific neighborhoods within Pune where there are opportunities to invest in both residential and commercial real estate.

Best Localities In Pune For Long-Term Investment

Punawale

One of the most underrated areas in Pune is Punawale, which was an agriculture-based area decades ago and was known for its Maharashtrian cultural base with rural land, narrow lanes, and small huts. The number of residents was few, and life moved slowly. Indeed, for many Pune residents, Punawale was off the map. Punawale did not become a metropolitan area because of chance occurrences; it was the result of synergistic efforts by three main forces – Metropolitan Area (urban sprawl), the need for more residential development to support the IT industry, and the strategic planning of developers in the area. An IT park existed close to Punawale; as a result, Punawale began to receive many younger workers from IT jobs (engineers, etc.) as well as start-ups and entrepreneurs. With increasing affordable housing demand in Hinjawadi (the IT park), affordable housing became competitive with affordable housing options in the nearby established areas of Wakad and Baner. For this reason, Punawale was desirable, as it had good development potential and significant amounts of vacant land.

Developers acted quickly to take advantage of this opportunity, with residential real estate development starting to boom in Punawale within the past 8 to 10 years. Punawale went from offering low-cost 1-bedroom apartments and houses to offering high-end luxury apartments with swimming pools and many amenities. As a result, Punawale has changed and continues to change both in terms of land use and culture.

Hadapsar

Hadapsar is often referred to as the gateway to the Western Ghats. It is one of the best localities to buy property in Pune since it is a very large and flourishing area for residential purposes. Hadapsar is very close to an airport, a railway station, and NH65, making it one of Pune's investment zones for homebuyers and investors. The two main employment centers in Hadapsar are the Hadapsar industrial area and SP Infocity. The area has some of the best hospitals in Pune, including Bhujbal, Dharmadhikari, and Medicare Multispeciality Hospital. Schools like Orchids-the International School and Mentor International School are also located nearby. Several clubs like Agent Jacks' and Altitude provide great nightlife options, and there are numerous shopping centers such as Amanora Mall and Seasons Mall.

Kharadi

Located at the eastern edge of Pune, Kharadi features an IT park, Kharadi Village, and many small manufacturers, which makes it an attractive option for commercial space for rent in Pune. Kharadi is also well connected to both Pune Airport and Pune Railway Station, making it one of the best localities in Pune for long-term investment. Additionally, there are many residential and work office options for residents. In addition to being a place where someone could live and work, Kharadi has several schools, such as Gurukul High School and Bharti Vidyapeeth School. Kharadi also has many hospitals, such as Columbia Asia and Rising Medicare Hospital. Also, there are several malls, including Kelkar Mall, Phoenix City Mall, and Sky Max Mall, to provide people with entertainment options. The many popular bars and pubs in Kharadi include Local Gastro Bar and Fly High, just to name a few.

Viman Nagar 

Pune’s Viman Nagar is both an ideal location and community, which makes it one of Pune's greatest places to invest in real estate.  You will find some of Pune's top schools here, including Wisitek Academy School, New Wisdom International School, and St. Arnold's Central School. There are also some of Pune's most magnificent shopping malls and hospitals, including Phoenix Marketcity Mall, Seasons Mall, Apollo Dental Hospital, Practo Care Surgeries, and Shree Hospital. For those looking for hidden real estate hotspots in Pune, they can consider Viman Nagar, which is known for nightlife activities because it is home to some of Pune's best clubs, like Local Gastro Bar and many others.

Mundhwa

Being close to IT zones, Mundhwa is also profiting from the fact that it has quick access to the New Airport Road and the Pune Railway Station. Several reputable educational institutions are located in Mundhwa, including Rise High School, Lonkar High School, Jagriti Public School, and many other schools. Other than schools, Mundhwa is also home to many shopping areas like Seasons Mall, Amanora Park, Inorbit Mall, and Phoenix Market, as well as leading hospitals like Columbia Asia, Gaikwad Hospital and Himadri Himani Ganga Hospital. Therefore, with future appreciation and property prices being decent opportunities, there is a high demand for real estate investment in Mundhwa, Pune.

Kondhwa

Kondhwa is located to the southeast of Pune city and is an underrated area in Pune, but now it is rapidly developing due to urban growth. This rapid growth is happening due to the robust connectivity to Pune Airport and Pune Railway Station, and it is adjacent to the Mumbai-Pune highway via Katraj. As a result of these factors, many businesses have chosen to set up industrial operations and companies in the IT industry in this area, which has led to the development of retail businesses that are suitable for commercial use.

There are several good schools in the Kondhwa area for children (such as The City International School, Delhi Public School, and Amanora School). The area also has a number of hospitals (such as Columbia Asia Hospital, Sahyadri Speciality Hospital, and Sanjeevani Nursing Home) that serve residents of this area.

Pimple Nilakh

There are many benefits to living in Pimple Nilakh, including having a great central city location, being located close to the Mumbai-Pune Expressway, and having a number of Tech Parks and I.T. companies present, which is helping to develop residential properties within the area to cater to the growing population. Within Pimple Nilakh there are many social amenities, including schools such as Laxmibai Nandgude International School, Bharati Vidyapeeth English Medium School, etc., as well as medical facilities like Elite Health Care - Datar Hospital, Dhanwantari Hospital, Lifeline Hospital, and Metro Hospital.

When you consider the increasing value of property over time, combined with the demand for properties in and around Pimple Nilakh, you can see that it provides some of the best investment opportunities available in Pune.

Baner

Baner is a growing segment of the northwestern Pune metropolitan area and is quickly becoming an area to invest in real estate due to its well-developed infrastructural and social facilities. Those looking to invest in real estate in Baner have access to a high quality of life, including world-class medical facilities and educational institutions, retail and shopping destinations, and recreation facilities. Baner is rapidly becoming one of the hottest locations for luxury home seekers, affordable home buyers, techies seeking rental options, and even high-net-worth individuals and non-residents. The best places for shopping and entertainment in Baner include Westend Mall, Reliance Mall, Xion Mall, and other attraction places. In addition, there are many choices of bars and pubs, which provide plenty of options for your cheerful evenings. So buying property in Pune, that too near these kinds of facilities, is one of the best decisions that you will ever make.

Balewadi

Balewadi is located on the western side of the city just north of the older historic part of the city. Balewadi has been developing very nicely over the years with the amount of new real estate, IT activity, and creating REITs. Balewadi also has great access to the metro line so that people have a quick way to commute to Balewadi. In addition, Balewadi has a number of different schools along with several business parks. Most reputable hospitals that can be found in Balewadi are Pearly White Dental Clinic, Apex Eye Care Hospital, and LifeLine Hospital. Other than that, Balewadi has also become a desirable place for entertainment and nightlife, full of restaurants, bars, and cafés. A recent arrival to Balewadi is 2.0 Culture Pune, which is already having great success as a new establishment.

Conclusion

Pune flats are expected to appreciate significantly over time, and there are many exciting projects being developed by large real estate companies and very well-known developers; Pune is now considered the best place for people who wish to live or do business. We at Keystone Real Estate Advisory help homebuyers and investors to navigate through the Pune real estate market and offer the best suitable options available in the market. To explore properties in Pune, you can visit our website and find all kinds of projects from the top developers.