Baner-Balewadi belt emerges as favourite investment destination
With prices of apartments soaring in Central Pune, buyers are lining up for the properties along the Baner-Balewadi belt.
The area, located in the western part of the city, offers properties in the price range of Rs 6,000-7,500 per sq ft.
This locality was once known as a fringe area and now the demand for the residential sector is on a rise due to the presence of the Hinjewadi IT Park, commercial establishments and accessibility to the Mumbai-Pune Expressway.
This belt is developed only recently, 6-7 years back and has got the tag of one of the most sought after suburbs with top residential and commercial projects, educational institutes and retail hubs in the neighbourhood.
Baner is located off the Katraj-Dehu Road and is a popular suburb. The Baner-Balewadi stretch is witnessing tremendous growth in terms of residential properties.
Residential apartments in Baner have seen an upswing in demand at about 59% and Balewadi at 25%. Baner Road has seen a demand of about 15%.
The highest demand which is at 50% is for 2 BHK apartments followed by 3 BHK at 31%. However, it is found that the supply is less than demand which stands at 42% and 43% for 2 and 3 BHK flats respectively.
Due to its closeness with Hinjewadi IT Park, many opt for the residential properties in this belt. Many buyers include end-user and investor, with high net-worth individuals and NRIs topping the chart.
Connectivity, commercial growth, infrastructure and facilities like roads, water and electricity, also play a good role in enhancing the real estate market of this area.
In the coming year, it is expected that a 100% price appreciation can be expected for the properties along the Baner-Balewadi belt.
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Yeah, the places near Baner, balewadi and Hinjewadi have developed at a very fast rate. The places are good to reside as they have immediate access to Hinjewadi, Pune-Mumbai express way, Wakad. Few builders like KBD Group have contributed in development of such areas. They have constructed great projects in Baner and Balewadi with great infrastructure and amenities by which this builder have got just praises by their customers.