PUNE: Amidst the economic slowdown, the real estate market of Pune showed considerable resilience in the April-June 2013 quarter. Capital values of residential properties at locations such as Bavdhan, Kalyani Nagar and Undri, registered an increase of 4-8 per cent in the April-June 2013 quarter, over the preceding quarter, Overall, the Listed Price Monitor, which reflects the change in capital values in the city, rose by two per cent during the quarter. According to the study, 77 per cent localities in the city recorded growth in capital values, while 42 per cent localities registered a hike in rental values. Localities which are near the already established areas are among the biggest gainers. Bavdhan registered the highest gain of eight per cent during the quarter.
“From Bavdhan, it takes 20-25 minutes to reach the Hinjewadi IT Park via the Mumbai-Pune highway,” says Sunil Gore of SCM Services. Kalyani Nagar posted a rise of almost seven per cent in the capital values, mainly due to demand from the IT/ITeS professionals and connectivity with major commercial and residential destinations within the city. It is situated in close proximity to Koregaon Park and since property prices in this location are hitting the roof, more and more people are considering Kalyani Nagar as a serious alternative to Koregaon Park.
Clocking a growth of six per cent during the quarter, Undri is among the other top gainers in the city. Proximity to Hadapsar and the IT Park in Phursungi, works in its favour. It also offers seamless connectivity to other parts of the city through MG road. National highways such as the Mumbai-Bangalore highway (NH-4) and Pune-Solapur Highway (NH-9) are easily accessible from this locality. Meanwhile, the convenience of reaching the airport, railway station and bus depots, has been central to the growth at these locations.