PUNE: Are you looking to invest in a 1 or 2-BHK in Pune? The Vishrantwadi-Tingre Nagar stretch can be a good option for property investment. The area offers a gamut of projects. Data shows, in the March-May 2013 quarter, Vishrantwadi witnessed 45 per cent demand for 2-BHK units and 44 per cent demand for 1-BHK apartments.
The demand for 3-BHK homes was low (nine per cent), compared to these two options. In Tingre Nagar, the demand for a 1-BHK was higher at 48 per cent than for a 2-BHK, which stood at 45 per cent. The same trend was seen in the period between December 2012 to February 2013 in both the localities. The demand for 3 and 4-BHK units remained low as compared to 1 and 2-BHK ones.
Data shows that 2-BHK properties were in maximum supply in both the areas. In the March-May 2013 quarter, the supply of 2-BHK apartments in Vishrantwadi and Tingre Nagar was 54 per cent and 45 per cent respectively, followed by the supply of 1-BHK units, which was pegged at 26 and 32 per cent in the areas, respectively.
This is a clear indication that smaller units are in high demand. One reason for this could be the proximity of both localities to the IT areas. “The Vishrantwadi-Tingre Nagar stretch enjoys easy connectivity with IT hubs such as Viman Nagar, Commerce Zone, Koregaon Park, Yerwada and Kalyani Nagar. Yet, these localities are considered to be quiet residential options, as they are cut-off from traffic and are free from pollution. IT professionals – mostly singles, or with small families, purchase smaller units here,” informs Avinash Kumar of Aditya Real Estate.
Apart from this, the stretch enjoys proximity to the airport and the railway station, which is why it is preferred by those working in the city centre. “Vishrantwadi is about four kms away from the Pune international airport and Tingre Nagar is about two kms away. The railway station is about seven kms from both the areas through Alandi Road,” elaborates Niranjan Kelshikar of Town Scape, a real estate firm.
Encouraged by easy connectivity and infrastructure, many developers are coming up with residential projects on the Vishrantwadi-Tingre Nagar growth corridor. Fortune Developers and Builders, Shriram Housing, Nyati Group and Kukreja Builders, are some builders that have ongoing projects here. Their projects offer 1, 2 and 3-BHK units, starting from Rs 40 lakhs. “The stretch enjoys demand from both, end-users and investors. However, it would be a wise decision to invest here and wait for a couple of years for the return on investment,” feels Khatri Mohan of Khatri Estate.