PUNE: If you are looking for an affordable abode in Pune, the stretch from Ravet to Tathawade could well be your choice of destination. Starting from Ravet through Ravet Village Road, Kalewadi Main Road and finally Tathawade, one can find new residential projects by Lodha Group, Bhojwani Homes and Goel Ganga Developers, coming up in another two to three years.
The belt is located on the North-West side of Pimpri Chinchwad Municipal Corporation (PCMC) and is emerging as a popular residential location due to lower property prices in comparison to Pune city centre. Anuj Bhandari, director, BU Bhandari Landmarks says, “The prices for apartments, which are the most preferred property type in Ravet, range from Rs 3,200-3,500 per sq ft. On the other hand, it is as high as Rs 5,500-6,000 per sq ft in the city centre. Lower prices attract buyers to this location.” Similarly, property values in Tathawade range from Rs 4,000-4,500 per sq ft.
While the scope of this stretch to provide employment has attracted many end-users, the potential for capital appreciation has lured the investors. Sukhesh Mali of Yes Consultancy says, “Capital values of apartments in Ravet have witnessed an appreciation of 12-15 per cent in the last one year, thereby, promising a good return on investment.” A report by Knight Frank indicated Ravet and Tathawade as two of the top 13 investment destinations of the country for the next five years. This report was based on factors such as employment generation and infrastructural developments like road and rail networks.
In terms of connectivity, both Ravet and Tathawade are closely connected through the Mumbai-Pune Highway and NH-24. With easy accessibility to the Pimpri-Chinchwad industrial belt and Hinjewadi IT Park, the area is in demand from IT professionals and industrial workforces. “The major drivers for residential demand are the Hinjewadi IT hub and Pimpri Chinchwad industrial belt, both located at a distance of three to five kms from Ravet,” adds Bhandari. The BRT (Bus Rapid Transport) road constructed by JNNURM, offers easy access to localities such as Aundh and its neighbourhoods.
With the majority of buyers belonging to the mid-income segment, maximum buyer interest is seen for 2-BHK units having an approximate area of 900-1,000 sq ft. also indicates maximum supply of 2-BHK units in both the regions. Catering to a mid-segment budget, ranging from Rs 25-40 lakhs, developers generally offer amenities such as rainwater harvesting, clubhouse, children’s play area, landscaped gardens, etc. A homebuyer looking for property at affordable values will find Ravet-Tathawade an ideal place to invest in. Not only does the buyer get all amenities offered in these gated societies but also the convenience of being easily accessible from all major areas of the city.