Supply, demand, high for 2 bhk units on the Vishrantwadi Tingre Nagar stretch
Jul 08, 2013
Source : The Times of India


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.

Latest Realty News

Real estate booms in the Kalyan-Dombivli stretch
Jul 08, 2013
MUMBAI: The Kalyan-Dombivli stretch in the western part of Maharashtra, is the new stretch of real estate growth in the state. Kalyan and Dombivli come under the municipal corporation of Kalyan-Dombivli Municipal Corporation (KDMC). It falls in what is now called the greater Mumbai built-up area.
Online real estate business likely to grow: Experts
Jul 07, 2013
MUMBAI: With a rising number of property portals entering the market, the online real estate business is expected to improve gradually as these websites bring transparency by providing high quality information about projects, believe industry experts.
RCom seeks board approval to unlock real estate value
Jul 06, 2013
MUMBAI: Reliance Communications (RCom) is seeking board approvals to “unlock” value in real estate properties held by the company and its subsidiaries.
Upcoming residential options in Keshav Nagar-Mundhwa
Jul 05, 2013
PUNE: The stretch between Keshav Nagar and Mundhwa in Pune is witnessing rampant real estate development. Key upcoming projects along the stretch are, Adrina by Vastushree Developers, Eastern Ranges by Phadnis Properties Ltd and Alcon Silver Leaf by Alcon Builders and Promoters.
Credai objects to blaming builders for accidents
Jul 05, 2013
PUNE: While welcoming the Pune Municipal Corporation’s (PMC) announcement that city builders will have to register themselves, the Pune Chapter of the Confederation of Real Estate Developer’s Associations of India (Credai) has questioned the civic body’s authority to affix responsibility on developers in the case of accidents, like building collapse.
PCMC rakes in Rs 144 cr property tax in 3 months
Jul 04, 2013
PUNE: The property tax department of the PimpriChinchwad Municipal Corporation (PCMC) has collected Rs 144.48 crore in the first three months of the financial year.
Additional FSI sought for Pune housing societies for flood affected
Jul 04, 2013
PUNE: A group of residents have made a demand to the Pune civic administration that it should consider allotment of additional Floor Space Index (FSI) to housing societies for the flood affected people.
Omaxe to invest Rs 200 crore to set up five-star hotel
Jul 04, 2013
MUMBAI: Real estate firm Omaxe today said it will invest Rs 200 crore to set up a five-star hotel in New Chandigarh, where it is developing an integrated township.
DLF-Aman Resorts deal delayed due to funding issue
Jul 04, 2013
MUMBAI: DLF's cup of woes continues to overflow. The real estate giant is desperate to cut debt from its balance sheet, but the state of the market is so weak that previous agreements are coming apart.
How to buy a flat and not lose sleep in Mumbai
Jul 03, 2013
MUMBAI: the city where the dream of owning a cherished home can turn into a dreadful experience for the flat buyer. Mumbaikars have spent sleepless nights after authorities have ordered the demolition of their buildings for violations the residents were unaware of. The beleaguered residents of Worli’s Campa Cola compound, and those who later found that their buildings stood on forest land, are only two such examples.

Latest Realty News Of State

Realty Talk's