Pune’s Hadapsar area witnesses 30% increase in property prices in two years
Among some of the Pune properties which have been witnessing an increase in value in recent times is the Hadapsar. Going by the latest figures, the property values in the area have seen a 30 percent increase in the last two years.
As per India’s Property portals the average capital value for multi-storey apartments in Hadapsar during the January-March quarter of 2012 was Rs 3,800, which increased to Rs 5,000 during the same quarter this year.
A number of factors have together contributed to the increase in property values in Hadapsar in the past two years. The most prominent among these factors are a steady increase in demand and affordable prices, especially in comparison to other neighbourhood areas like Magarpatta, Fatimanagar and Camp.
In addition, according to local realty firm Sree Sai Consultancy’s Ashok Mane, the rising property values in the Hadapsar area is its close proximity to the IT hub of Magarpatta. As a result, the area has been witnessing a high demand from the IT professionals at mid-level designations.
Pointing out that the physical infrastructure in the Hadapsar area is still developing, because of which real estate development is further affected, Kolte Patil CEO Sujay Kalele said that the developing physical infrastructure is “keeping a hold on the price potential in this area;” and added: “Taking up infra improvement on priority would definitely mean a drastic appreciation in real estate prices.”
Source: The Times of India – Pune edition
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