Feb 17, 2023Pune Real Estate

Reason to invest in Hinjewadi, IT Hub of Pune | Godrej Properties

by Godrej Properties Limited

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Hinjewadi, a well-known IT hot spot in Pune, has grown in popularity with homebuyers. It has an established infrastructure, reliable connectivity, and a stable real estate market, in contrast to other emerging areas in the city. Real estate prices in the region have risen by approximately 20% over the past five years.

Locations with a ready supply of property can be profitable investment destinations. Hinjewadi in Pune is one such location, with a vast quantity of both residential and commercial properties. Often called Pune's Silicon Valley, it is a popular hub for multinational corporations. However, over the last decade, the region has also evolved into a viable residential investment destination. Because of the increased foray of reputable developers and improving infrastructure, most people opt to invest in Hinjewadi.

The impact of IT companies in Pune, Hinjewadi on its real estate market

It is among Pune's largest employment hubs, employing over 1.5 lakh people. Companies in Hinjewadi like Accenture, Capgemini,  Cognizant, IBMTCS, Infosys, Dassault Systems, and Wipro are among the most renowned IT firms. The presence of these large corporations in Hinjewadi has paved the way for nearby residential developments, promoting a walk-to-work culture. The IT companies have ensured that the economy of the area is thriving and in turn, makes the real estate market very attractive.

The current state of transportation and infrastructure near the flats in Hinjewadi  

Hinjewadi's position is advantageous because it is close to the Pune-Mumbai Expressway, which links Mumbai's commercial districts seamlessly. Perhaps all transportation modes serve the area well. Compared to its neighbouring regions, Hinjewadi is relatively well connected to the Lohegaon Airport, and the Pune Railway Station. The region's inner roads also ensure quick access to the different phases. Hinjewadi currently consists of three phases, with phases 4, 5, and 6 under construction.

Furthermore, a two-kilometre-long road from Wakad to Hinjewadi along the Pune-Bangalore Highway is planned to relieve traffic congestion. This, combined with the impending Hinjewadi-Civil Court Metro Line, a 23 km-long elevated rail project, will make commuting even easier.

Hinjewadi also has extensive social infrastructure ranging from the renowned CBSE and IB schools, to entertainment centres like Laxmi Complex and Xion mall.

The range of investment options available in Hinjewadi Phase 1

Hinjewadi Phase 1 is a residential-commercial neighbourhood with a large number of luxury housing units. The area is densely populated with residential apartments and independent homes built by city-based developers.

Hinjewadi Phase 1's monthly average rent varies from 13100-30100. This area has a plethora of property options. There are 6+ reasonably priced properties with rents ranging from 17000 to 21000/month, 20+ mid-segment residences with rents upwards of 21000/month, and 30+ luxury properties with rents exceeding 21000/month (source:99 acres). Properties from credible builders like Godrej in Hinjewadi Phase 1 like that of Godrej Woodsville, have only gone on to add a star in its landscape.

Hinjewadi - The Most Sought-After Destinations for Migrant Populations

Hinjewadi is one of the most sought after destinations for migrant populations for primarily 2 reasons. The IT hubs ensure that there are a lot of employment opportunities and the reasonably priced real estate that is constantly appreciating, makes it attractive for migrants in search of prosperity.

 

Frequently asked questions

1. Is Hinjewadi good for investment?

Ans. Yes. For the reasons mentioned above, Hinjewadi is an excellent choice for investors and homebuyers alike.

2. Is Hinjewadi a posh area?

Ans. Hinjewadi is among the most prestigious and appealing residential areas in Pune's western outskirts. The neighbourhood is an active IT hotspot as well as a city real estate hub.

3. Which is the best residential area in Hinjewadi?

Ans. Aundh is one of the most highly priced markets in the vicinity of Hinjewadi. A square foot of property can currently be purchased between ₹ 8,000 and ₹ 9000. The neighbourhood is well developed, with good connectivity, infrastructure, and a wide range of real estate options.

4. What is the property rate in Hinjewadi Phase 1?

Ans. The estimated cost of purchasing flats in Hinjewadi Phase 1 is ₹ 7000 to 8000/- per square foot.

5. Which area in Pune has the most IT companies?

Ans. Hinjewadi, also known as the Silicon Valley of Pune, has the most IT companies.

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