Evolution of West Pune Market
Pune has many titles. Oxford of the East, the city of Peshwas, the cultural capital of Maharashtra. Once known as the retirement destination of those living in surrounding cities, Pune has transformed itself to become one of the largest urban areas in the country. One can see its versatility in its titles, population and location.
City’s good weather, slower pace of living, and its proximity to many weekend destinations made Pune the preferred destination to buy a second home. Its proximity to Mumbai was an added advantage which lured many Mumbaikars to retire here. As the city’s potential became evident, many universities, IT companies, and automobile plants were established either within Pune’s city limits or at the outskirts. In addition to historic areas and established paths (localities) at the east side of the city, several gated communities and housing complexes started burgeoning at the west in response to the growing demand.
When Rajiv Gandhi Infotech Park, also referred to as Hinjawadi IT Park, was established, Hinjawadi came to the forefront. With many international companies setting up shop here, housing and infrastructure development in this area was inevitable. As the fastest growing area just outside of the central city of Pune, many people from all over the world saw it as an opportunity to settle down at one of the Hinjawadi’s many thoughtfully planned and well-developed residential complexes. Some of the best infrastructure companies in the country are developing these projects; facilities and amenities for a holistic living with a modern touch being the focus of many complexes here. Hinjawadi’s proximity to Mumbai-Pune expressway and both metros has been an additional benefit amongst numerous others.
With Hinjawadi developing at a rapid speed, previously lesser-known suburbs of West Pune started to emerge as potential areas for residential and commercial development. Some of the popular regions of west Pune include Kothrud, Wakad, Baner, and Balewadi. Slightly further away, locations such as Mamurdi are also rapidly emerging as a potential option for home buyers looking for quieter and greener living. Amongst localities in west Pune, Baner ranks as one of the most popular and premium areas. Along with modern housing options, developers are setting up business centres, shopping areas, healthcare facilities here. With better town planning and infrastructure, West Pune is more organised, as most developments here, is recent. Many other factors are contributing to the growth of West Pune. Its connectivity to Mumbai-Pune Expressway and Mumbai-Bangalore Highway is one of them. As more and more families prefer the West part of the city, the development of many necessities such as banks, hospitals, schools and colleges are underway.West part of the city, the development of many necessities such as banks, hospitals, schools and colleges are underway.
Future of Pune
Ranked highest concerning “liveability” in the Ease of Living Index 2018 published by the Ministry of Housing And Urban Affairs (MoHUA), Pune is set to become a preferred city for home buyers irrespective of their age. Its place on the list of cities eligible to be developed as a ‘Smart City’ is guaranteed to lead to better infrastructure, transport, and public facilities in the coming years. As an investor or a home-buyer, make sure that you evaluate Pune and its many suburbs for your future home. Pune will surprise you at each turn.