Inclusion in municipal limits will help improve water, power supply
)
Located on the eastern periphery of Pune, Wagholi has evolved into one of the city's important suburb. About half-a-decade ago, the area was mostly dominated by local industries along the Nagar Road. Like Hadapsar, it has now successfully shed the usually resilient image of 'industrial area' and is gaining prominence as a residential destination of note.
Thanks to its strategic location on Nagar Road, Wagholi provides good access to the existing and upcoming commercial establishments in Kharadi, Hadapsar and Bund Garden. It further benefits from market drivers such as its proximity to the Pune Airport, accessibility to the thriving eastern information technology (IT) hubs of Magarpatta and Kharadi as well as the Shikrapur-Chakan industrial belt. Demand for homes in Wagholi is primarily driven by the city's IT professionals.
Influencing factors such as affordability, social infrastructure and the presence of good educational institutions such as schools and engineering colleges have generated considerable interest in this location from end users as well as investors. Moreover, Wagholi is now scheduled for inclusion within Pune's municipal limits, which means water and electricity supply will be regularised.
Infrastructure initiatives that will benefit Wagholi in the foreseeable future include the proposed Ring Road, a four-lane flyover linking Wagholi to Shikrapur and several additional roads and bridges that will improve connectivity to Kharadi and other key locations in Pune.
Wagholi has seen steady appreciation in property rates to the tune of 15-20 per cent, depending on the exact placement and typology of individual projects. A number of large and local players such as Rohan Builders, Kolte-Patil, Marvel Realtors, Goel Ganga, Belevekar Housing, Konark Builders, Mantra Properties and Eiffel Developers are active with mid-income housing projects in the area.
Currently, residential prices in Wagholi range from Rs 3,800-4,500 a sq ft; and the rental values for 2-3 BHK (bedroom, hall and kitchen), can make you fetch anything between Rs 8,000 and Rs 12,000, clearly marking it as a location that still offers relative affordability compared to neighbouring Kharadi.
With the rapid development taking place along Pune's eastern belt, Wagholi has considerable growth potential over the next 5-10 years, a factor that long-term property investors should consider.
The writer is managing director - Pune, JLL India
Thanks to its strategic location on Nagar Road, Wagholi provides good access to the existing and upcoming commercial establishments in Kharadi, Hadapsar and Bund Garden. It further benefits from market drivers such as its proximity to the Pune Airport, accessibility to the thriving eastern information technology (IT) hubs of Magarpatta and Kharadi as well as the Shikrapur-Chakan industrial belt. Demand for homes in Wagholi is primarily driven by the city's IT professionals.
Influencing factors such as affordability, social infrastructure and the presence of good educational institutions such as schools and engineering colleges have generated considerable interest in this location from end users as well as investors. Moreover, Wagholi is now scheduled for inclusion within Pune's municipal limits, which means water and electricity supply will be regularised.
Infrastructure initiatives that will benefit Wagholi in the foreseeable future include the proposed Ring Road, a four-lane flyover linking Wagholi to Shikrapur and several additional roads and bridges that will improve connectivity to Kharadi and other key locations in Pune.
Wagholi has seen steady appreciation in property rates to the tune of 15-20 per cent, depending on the exact placement and typology of individual projects. A number of large and local players such as Rohan Builders, Kolte-Patil, Marvel Realtors, Goel Ganga, Belevekar Housing, Konark Builders, Mantra Properties and Eiffel Developers are active with mid-income housing projects in the area.
Currently, residential prices in Wagholi range from Rs 3,800-4,500 a sq ft; and the rental values for 2-3 BHK (bedroom, hall and kitchen), can make you fetch anything between Rs 8,000 and Rs 12,000, clearly marking it as a location that still offers relative affordability compared to neighbouring Kharadi.
With the rapid development taking place along Pune's eastern belt, Wagholi has considerable growth potential over the next 5-10 years, a factor that long-term property investors should consider.
The writer is managing director - Pune, JLL India
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 02 2014 | 11:25 PM IST