There are a few cities in India that offer you a perfect blend of tradition and urbanity and Pune stands tall among them. For a long time, the city was considered as a peaceful cousin of Mumbai. Various comparisons were drawn between the cultural and lifestyle differences that these cities had to offer. As a result, the Mumbai-Pune divide became the fodder of discussion for several years. The year 1998 changed it all. Today, Pune has become one of the hottest investment destinations for Mumbai investors who are looking for lucrative second real estate investments.
In Pune, Hinjawadi has emerged as a favored investment destination for Mumbai investors due to various reasons. What has driven this change?
We analyzed a few factors.
Affordability: A Major Factor in Decision Making
Affordability is a key driving factor behind any real estate investment. Imagine a scenario – a 2 or 2.5 BHK premium apartment in a Mumbai suburb like Goregoan may cost you Rs. 2 crores and upwards. However, you can buy a 2 BHK premium apartment in Hinjawadi at just Rs 71 lakhs and upwards. Don’t you think, it is a good bet?
Hinjawadi: A Location of Multiple Dimensions
What is so interesting about Hinjawadi? Well, there are many things. The first thing being the location itself.
- It is the home to Rajiv Gandhi IT Park – one of the most popular IT hubs in the country.
- It lies on the Mumbai-Bangalore Highway and Mumbai-Pune Expressway.
- Hinjawadi is connected to the city through a well-planned transportation system. The emergence of an App-based transportation system has helped improve its accessibility from different parts of the city.
- In the year 2016, Hinjawadi became the proposed location for the development of smart cities. In the same year, it was selected as the site for a third metro line in Pune, which is proposed from Hinjawadi to Shivajinagar.
- It will take you less than an hour to drive to the nearest railway station at Pimpri-Chinchwad. However, it is an hour’s drive from localities like Hadapsar, Kharadi, Magarpatta, and other destinations like Pune Airport. The nearest city Mumbai is only 3 hours away.
- Being on the Mumbai-Bangalore Highway, this place is also closer to weekend getaways like Lonavala and Khandala.
Long Term Growth
What does that mean? Rajiv Gandhi Infotech Park is home to more than 110 IT and ITeS companies. Many global software giants like Wipro, TCS, Cognizant, Tech Mahindra have already established their bases here. It is also a preferred destination for many IT start-ups. This suburb is currently laid in three phases – Phase I, Phase II, and Phase III. There are talks on the creation of Phase IV, Phase V, and Phase VI of the IT park. All this means, more job opportunities to follow in future.
Property Appreciation is a Real Bang
According to the law of supply and demand, the increasing demand for housing and low availability of liveable homes lead to a price hike. This age-old theory is currently driving the price appreciation in Hinjawadi. With job opportunities increasing, more people are arriving in the city. They are looking for homes in Hinjawadi that assure them a better living experience, help them avoid chaos and daily traffic of the city, and allow them to strike a better work-life balance. This year, the appreciation has risen by 12.4% and it will continue to rise more in years to come. Additionally, the investors can expect good rental incomes, as the number of people looking for rental homes is on the rise.
A Place Where Amenities Are Plenty
What does that mean? To understand it you have to visit one of the award-winning projects in Hinjawadi – EON Homes by Kasturi Housing, India’s Best! These luxury 2 and 3 BHK homes are designed to take care of all your complex needs, with their state-of-the-art amenities.
The Last Word
Many times, you may go wrong with business investments, but you may never go wrong by making a real estate investment in Hinjawadi. The place has a lot to offer, and you are sure to be on the winning side of the game.