Undri-Pisoli belt is getting lots of focus from the homebuyers due to the availability of homes within their budgets.
Pune’s outskirts are growing at a faster pace. They sport a new look with sound civic infrastruc ture and good residential project. Ample availability of land sets Pune apart. With the residential realty market in the Pune city area getting saturated, the adjacent areas are quickly evolving as preferred destination for the home buyers.
Areas on Pune East are emerging as residential hotspots. Undri Pisoli belt situated in one of the emerging areas of Pune is getting lots of focus from the home buyers due to the availability of homes within buyer’s budget. It is well known for IT & ITes presence and the development happening in the area. Undri is one of the most logical residential property destinations in Pune. However, it has only come into prominence over the last 4-5 years because of the demand spill-over from saturated areas like NIBM Road and Wanowrie.
Its development in recent years has led to a greater thrust on civic infrastructure in Undri. Demand for homes in this location is driven largely by employees from Pune’s manufacturing and ITITeS industries, to whom it is a suitably affordable alternative to the pricier areas that cater to these workplaces. Undri is conveniently connected to many of Pune’s key localities. The well-developed social infrastructure of Wanowrie, Salunke Vihar and Camp is readily accessible to Undri’s residents.
IT crowd has been driving Pune’s residential market. Magarpatta Township’s IT-centric development as well as the industries in Hadapsar account for a significant share of the residential demand in this corridor. Wanowrie, NIBM Road and Kondhwa are already packed with development and the Undri-Pisoli market offers itself up as the next development corridor. Demand for properties here comes from both investors and end-users who seek to upgrade to larger apartments at affordable rates or buy second homes which are near to their existing ones.
Apartment prices in areas like Hadapsar and Kharadi have increased significantly and breached the affordability threshold for entry-level home buyers, and Undri-Pisoli is a viable alternative. It also has quality schools, which is a major plus The Undri-Pisoli belt, which includes Yeolewadi, Pisoli, Undri and Mohammedwadi, has several demand drivers working for it. It is very suitable destination for the working population at Magarpatta and the city’s CBD. It caters to the extended demand from Hadapsar and still boasts of relatively affordable real estate rates. It enjoys good connectivity to central Pune Owning a home is several times more preferable to renting in Pune, and these families are attracted to Undri’s relatively lower property rates.
Paying due heed to the specific requirements of this segment of buyers, some of the leading developers in Undri are offering all-inclusive packages on projects which have all the accoutrements of a modern, comfortable lifestyle. This factor is proving to be a further magnet for demand, which in turns encourages the faster development of this region.
As of now, Undri is primarily a destination for mid-income housing, and most of the projects there are geared towards this segment. It also holds great potential for luxury offerings once the demand for budget homes has been adequately met. Due to its superior location advantages, it is an ideal location for premium housing as well.
Source – PT