Quality & affordable options

Hot Spot: Magarpatta, Pune

Situated on the eastern side of Pune, Magarpatta is close to the Kharadi EON IT Park, Kalyani Nagar, Koregaon Park, Fatimanagar and the Hadapsar Industrial Estate.

Crossing North Main Road towards Koregaon Park annexe approaching Mundhwa Road is the new and talked-about D P Road that will connect Koregaon Park to Magarpatta.

This road, from the northwest region of Magarpatta City and touching the Botanical Gardens, will make the Koregaon Park area one of its closest neighbourhood locations from Magarpatta. This connecting route from Magarpatta to Koregaon Park will fuel the development of residential projects, as it provides a vast improvement in commuting towards the CBD (Central Business District).

The Magarpatta and Amanora belt is lined with beautiful housing complexes, state-of-art projects, commercial developments and an array of shopping outlets, giving a glimpse of one of Pune's most hip-and-happening areas.

The rate of development in and around the Magarpatta belt in terms of residential, retail and commercial real estate has been significant over the past two years.

The ready infrastructure such as schools, hospitals, offices and IT hubs and the array of available entertainment options at Amanora Town Centre and Magarpatta complement the growth of residential property buying in and around the area.

From the standpoint of residential development, the area comprises major developers offering quality and affordable housing options. End-users and investors have a tempting bouquet of options. The tentative price range in the area begins at Rs 4,500 a sqft and goes up to a whopping Rs 14,000 a sq ft.

The presence of some premium developers who are creating customised luxurious residential projects has changed the lifestyle housing ethos in the Magarpatta belt. Big players such as Panchshil, Marvel Realtors, Kumar Properties and VTP Group (Urban Homes) are well established in this area. Projects such as One North and Yo! Pune by Panchshil and Diva and Ritz by Marvel, Amanora Town and Magarpatta City are just a few present there.

There are numerous upcoming developments such as Urban Balance by VTP Group (Urban Homes), Privie Sienna by Kumar Properties, Bounty and Arco by Marvel Realtors and Ela by Vascon.

The housing development along other parameters will have a great impact due to the connectivity from Koregaon Park to Magarpatta. It will not only ease commuting and save time but also benefit the overall development of Hadapsar and the adjoining areas.

The writer is Head (Pune) - Residential Services, Jones Lang LaSalle India