[Tmdl.edu.vn] The rapid growth of real estate in Pune’s central areas has triggered development activities in the eastern and western parts of Pune.
Growth in East Pune
Pune is one of the fastest-growing cities in Maharashtra. Following the growth of the central areas like Kothrud, Shivaji Nagar, Aundh and Koregaon Park, the construction and development activities have propelled to eastern and western Pune. Thus, East Pune is witnessing tremendous development, augmented by the rise in IT and ITES companies. According to research reports, it is one of the hotspots for real-estate investments with guaranteed profitable returns.
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Connectivity and infrastructural development in East Pune
The main advantage of East Pune is that its suburbs are located along the Pune-Solapur highway, which connects to the Mumbai-Pune Highway, putting it on a high-growth corridor. In addition, the railway line from Pune station passes through East Pune. This line includes the Hadapsar Station, which provides rail access to the city centre and beyond. Other important arterial roads, connecting East Pune suburbs, include the Pune-Solapur Road, Pune-Saswad Road, Magarpatta Road and Manjri Road. The Magarpatta Flyover, the Hadapsar-Kharadi Bypass and the Hadapsar Flyover have improved connectivity. East Pune is close to the Pune International Airport in Lohegaon.
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Upcoming infrastructure projects are expected to further improve East Pune’s connectivity and growth. The proposed Pune Ring Road (PRR), a 128-kilometre road along Pune’s outskirts, is expected to boost the city’s growth while diverting inter-city traffic during peak hours. This ambitious road will run through Manjri and Wagholi in East Pune. The government has proposed several new metro lines in East Pune, which has resulted in rapid developments in the eastern parts. Upgrading the existing Bus Rapid Transit Services (BRTS) routes and the establishment of new routes will improve connectivity within East Pune and to other parts of the city.
Locations in East Pune
Locations such as Kalyani Nagar, Kharadi, Viman Nagar and Hadapsar are popular areas in this part of Pune. Recently, traditional areas witnessed major growth and East Pune was extended towards Manjri, Shewalewadi, Wagholi and Phursungi. The infrastructural development in these areas led to high demand for residential and commercial properties. The Magarpatta IT Park, EON IT Park and Shapoorji Pallonji (SP) Infocity attracted interest and demand for residential complexes. Due to the well-developed social and recreational infrastructure, East Pune has emerged as a highly favourable residential region.
Potential of East Pune
Over 800 IT and ITeS companies are present in Pune and some of the largest are in the east of the city. The workforce employed in and around the commercial complexes in East Pune prefers to live nearby, which drives the housing demand. A mix of aspirational, premium and luxury housing is present in this area. The continuous development of commerce is one of the reasons that East Pune has a lot of growth potential in future. According to reports, there is a high demand for residential units in Hadapsar, Manjri, Shewalewadi and Wagholi. This has further added to a steady appreciation of property prices, which has boosted investors’ interest. At the same time, the emergence of large, gated communities with superior amenities can upgrade the lifestyle of consumers in East Pune.
(The writer is CMO, Shapoorji Pallonji Real Estate)
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