PUNE: Wakad, located in West Pune, was once known as an extension to Pune with no infrastructure and connectivity. Today, the locality is witnessing massive real estate development. Connectivity, infrastructure and transport facilities are the prominent features that have turned into its favour.
The area is situated along the western side of Pune and offers easy accessibility to main parts of the city through both, road and railways. “The area is well connected through Pune Mahanagar Parivahan Mahamandal Limited (PMPML) bus services to areas such as Pimple Nilakh, Pimple Saudagar and Aundh. Apart from this, Wakad also offers easy approach to the railway station. Chinchwad Railway Station is at a distance of 12 km from the locality. The airport is about 20 km taking the Aundh-Ravet Road,” says Sunil Mehta, Proprietor, Remax Ronisun Realty. All this adds to the growth of real estate market in Wakad.
Developers such as Kalpataru, Aura Real Estate, Bhojwani Homes and Adi Properties to name a few are present in the area. Since it is in the growth phase, most properties in Wakad are being offered in the affordable range. As per the MagicBricks.com data, the area sees maximum demand for 2BHKs. In Wakad, the apartments are priced between Rs 40-60 lakh, registering 41 per cent demand followed by properties in the Rs 20-40 lakh range (27 per cent demand) and Rs 60 to Rs 1 crore budget with 26 per cent demand.
So, where is this demand coming from? “The area is close to IT parks such as Infotech, and Biotech Parks at Hinjewadi. It is about 3-km from Hinjewadi IT hub. Major IT companies in the area include Infosys, TCS, Wipro, IBM, Tech Mahindra, Cognizant, Siemens and Mindtree among others are present here”, says MP Singh, Proprietor, Property Junction Realtors Pvt Ltd.
Moreover, the Pimpri-Chinchwad Industrial area, the Mumbai-Bangalore Bypass, the Super Express Highway to Mumbai is also accessible from the area. Thus, the locality is preferred by IT employees. They look for accommodation close to their office space,” says Siddhu Adhav of Global Realtors.
Baner is another prominent area, at a distance of 6-km, which is easily accessible to Wakad through the Mumbai-Pune Expressway.
Apart from this, a 120 ft road is also under construction, connecting Baner, Balewadi and Wakad. The new under construction flyover starts from Dangri Chowk in Wakad and goes up to Vishal Nagar in Pimple Nilakh, offering a traffic-free drive from Wakad to Pimple Nilakh.