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Wagholi- Pune's New Realty Hotspot

By Author: vinay kumar
Total Articles: 128

Anyone who has followed India property trends closely will know about the sudden demand for Pune properties, particularly in hitherto industrial and manufacturing areas which had not really witnessed huge realty activity in the past. Wagholi is one such area which is now being regarded as a real estate hotspot in Pune. Wagholi lies on the important Nagar-Pune Highway and is located in close proximity to the IT hub in Kharadi, another reason for this huge demand. Development has touched Wagholi in terms of residential real estate development, a booming educational sector and adequate social infrastructure. The area was always one of Pune’s well known industrial zones and is one of the currently coveted residential destinations when it comes to real estate in Pune.

The Indian real estate market has been witnessing some of these sudden booms in several markets in 2014 and 15 where several micro markets are suddenly jumping up to the top of the stockpile in terms of demand from investors and end users alike. Wagholi is now a major peripheral investment zone in Pune and this has boosted residential development hugely in the locality. The advantageous location on the Nagar Road and easy connectivity with the Chakan-Shikrapur Road, Sholapur Highway, airport and Bund Garden make it a great place to live. Additionally, social infrastructure and amenities are steadily being implemented in Wagholi, thereby fueling greater interest on part of prospective home buyers. Another factor lies in the relative affordability of properties in Wagholi in comparison to other areas in the city. The Kharadi IT hub is located near the neighborhood and this has led to the development of several shopping centres, malls, multiplexes and hotels near the locality.

Additionally, Wagholi has also been making headlines in Pune real estate news owing to its thriving educational sector which has in turn, fueled rising residential realty demand. The area is home to several reputed educational institutions including the Jyotirmay International School, Netaji Subhash Chandra Boys Military School, Sharad Pawar International School, GH Raisoni College of Engineering and Technology, Lexicon International, Moze College of Engineering, Dhole Patil College of Engineering and the JSPM Imperial College of Engineering and Research among many others. This transformation of Wagholi from a strictly industrial zone into an education hub has given a much needed fillip to residential realty development here. Wagholi also lies near several ATMs, hospitals, banks and clinics among other necessary social infrastructures.

The area has witnessed the advent of several landmark projects courtesy leading developers like Goel Ganga Developments, Kolte Patil, Eiffel Developers and Karia Developers among others. Several residential projects are being constructed in Wagholi with prices that are tempting to say the least. There are premium segment apartments being constructed in the area as well and appreciation of prices has stood at approximately 5% on an annual basis, thereby assuring greater returns from investments. The upgradation of Nagar Road to six lanes and the construction of the EON IT Park-Wagholi Road have also been important developments sparking the growth of the residential realty market in the locality. Plans are also afoot for a flyover running to Shikrapur with four lanes.

Makaan.com is a leading real estate portal that concentrates on real estate in Pune. The website caters to the requirements of property developers, home buyers and agents.

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