I want to buy a 2 BHK affordable home in some good locality of Pune. Kindly suggest a few options , giving average home prices and prospects of investing there.
– Anwar Hussain, Mumbai
Pune city as a whole has good prospects for investment in residential real estate. Last year , the city witnessed property appreciation of close to 11%.
There is a good choice of 2BHK affordable lifestyle homes , both in primary and secondary markets- under-construction and ready-to-move homes in quite a few locations. However, I would suggest you top prime locations of Pimpri Chinchwad, Kharadi and Hadsapar. There are a variety of options of homes to choose from- entry level, mid-priced and premium homes.You can get 2 BHK affordable homes by well known developers costing between Rs 50-75 lakh.
Pimpri Chinchwad is one of the most developed and top performing micro markets of Pune. Apart from being a hub of IT, automobile and engineering companies, it has many prestigious educational institutions and hospitals.Its superior location and connectivity within Pune and outside to Mumbai, Nashik, makes this suburban region of Pune a golden spot for investment promising great ROI. You can get a 2BHK house between 630- 700 Sq ft area for Rs 55 lakh-70 lakh at an average price of Rs 8300-10700 per sq ft.
Kharadi is another great location to invest in residential real estate due to sound civic and social infrastructure , besides numerous IT Parks.Like Pimpri Chinchwad, Kharadi with elite neighbourhood scores high on education and health facilities, in addition to malls, hotels and recreation spots. Well connected to Mumbai, Kharadi offers a choice of 2BHK homes of 520 sq ft -750 sq ft , costing Rs 50-75 lakh with an average price of Rs 9500-10000 per sq ft.
Hadapsar is a much sought after self-sustaining locality with good residential and commercial developments. Its proximity to IT hubs has boosted quality living , with well planned and well developed physical and social infrastructure. Despite having elite Koregaon and Kalyani Nagar besides three SEZs of Magarpatta, Amanora and SP Infocity in the neighbourhood, the home prices here are much lower (almost 20% less). With a good demand for 2BHK homes, the premier locality offers a high annual rental yield. Here 2BHK homes of 560-790 sq ft are available at a price of Rs 8500- 9500 per sq ft, having average cost of Rs 50-75 lakh.