Today,
the places of East Pune like Hadapsar,
Wagholi and Kharadi that provide 1 and 1BHK property in the Rs. 20-40 lakh
price range, are witnessing huge scale consumption of residential spaces. Previous
inhabitants of the city remind that how these localities raised with the boom
in real estate. At present, the over subscribed roads and small street are
witnessing large-scale construction activity. Old buildings and houses have
been demolished to construct new multi-storeyed apartments in gated
communities.
The
area of Hadapsar is considered as one of the best place for 2-BHK units in the
April-June 2013 quarter. Demand for 1-BHK units in the same quarter was 34%
whereas supply was way underneath demand, at 23%. The enhance demand for 1-BHK
units here is due the migrant singletons, who work in the IT firms nearby.
Wagholi
is another locality, where variable expansion is taking place. It is located on
Nagar Road and enjoy the closeness to the railway station and the airport.
These aspects are attracting investors to buy property in the area. The
property prices in the city are competitive as compared to other localities. A
number of forthcoming projects are intended along the locality, with real
estate developers constructing mostly 1 and 2-BHK apartments. The demand for 4
and 3-BHK apartments is less in both, Hadapsar and Wagholi.
Kharadi,
that ties up with Nagar and Sholapur Road, was mainly spread with industrial
land till the inauguration of Magarpatta City. At present, these business lands have been renewed
into business complexes, star hotels and entertainment zones, star hotels,
business complexes, shopping malls and lively star hotels. All of these aspects
make it the third-most favored residential location, after Wakad and Pimple
Saudagar. Apart from this, the city is also in demand for a leaping of 1
to 4-BHK units.
