PUNE: Situated on the eastern side of Pune, Magarpatta is close to the Kharadi EON IT Park, Kalyani Nagar, Koregaon Park, Fatima Nagar and the Hadapsar Industrial Estate. Crossing the north main road towards Koregaon Park Annexe and approaching Mundhwa Road, the new DP Road will connect Koregaon Park to Magarpatta.
The DP Road, which starts from the northwest region of Magarpatta City and touches the Botanical Gardens, will virtually make the Koregaon Park area one of the closest neighbourhoods from Magarpatta. This connecting route from Magarpatta to Koregaon Park will fuel the development of residential projects, as it provides a vast improvement in commuting towards the Central Business District (CBD).
The entire Magarpatta and Amanora belt is lined with beautiful housing complexes, state-of-the-art projects, commercial developments and an array of shopping outlets, giving a glimpse of one of Pune’s most hip-and-happening areas. The rate of development in and around the Mag arpatta belt in terms of residential, retail and commercial real estate has been significant over the past two years. The ready infrastructure, such as schools, hospitals, offices and IT hubs and the array of available entertainment options at Amanora Town Centre and Magarpatta, complement the growth of residential property buying in and around the area.
From the standpoint of residential development, the area at present, comprises of major developers offering quality and affordable housing options. End-users and investors from the budget housing segment, to the super luxury and premium housing segments, have a tempting bouquet of options. The tentative price range in the area begins at Rs 4,500 per sq ft and goes up to a whopping Rs 14,000 per sq ft.
The presence of some premium developers, who are offering customised luxurious residential projects, has changed the entire lifestyle housing ethos in the Magarpatta belt. Big players such as Panchshil Realty, Marvel Realtors, Kumar Properties and VTP Group, are well-established in this area. Projects such as One North and yoo Pune by Panchshil Realty; and Diva and Ritz by Marvel Realtors; Amanora Town and Magarpatta City, are just a few currently present in this area.
There are numerous upcoming developments such as Urban Balance by VTP Group (Urban Homes), Privie Sienna by Kumar Properties, Bounty and Arco by Marvel Realtors and Ela by Vascon Engineers. The housing development along other parameters will have a great impact due to the connectivity from Koregaon Park to Magarpatta. It will not only ease commuting and save time but also benefit the overall development of Hadapsar and the adjoining areas.