[ecis2016.org] Ashok Nagar is one of the rapidly developing areas of Pune and is located very close to the industrial zones and the IT hubs of the city. The area has good civic amenities and is very well-connected to the other parts of the greater city of Pune
Ashok Nagar is a premier residential area, located close to the heart of the city of Pune and is also one of the oldest localities of Pune. The area has witnessed fast pace development due to urbanisation and growth of residential and commercial zones. Nearby Ashok Nagar localities include many famous areas of the city of Pune such as Pashan, Balewadi, Khadki and Shivaji Nagar. A variety of projects are available in Ashok Nagar and range from affordable to luxury. There are a lot of reputed builders like the Rohan Group, Marvel Group and Chordia Group, who are working on different projects in Ashok Nagar. Some of the premier projects in Ashok Nagar include Rohan 10 Kasturkunj, Chordia Solitaire Eight, Marvel Escasso, etc.
You are reading: Ashok Nagar property market: An overview
Due to the advent of various IT majors and other multinational companies (MNCs), Pune has been witnessing a rapid influx of working population from outside the city. As a result, there has been a surge in the demand for residential apartments in Ashok Nagar, which is one of the important suburbs of Pune. Even though the prices of the flats in Ashok Nagar are going up at a rapid pace, affordable housing to suit the needs of the mid and the junior-level executives of the various companies can still be found here.
The civic amenities have also improved. The industrial growth and growth of the IT sector, have also led to the development of retail and hospitality sectors in the area.
Connectivity with nearby Ashok Nagar localities
- There are a few major roads which run through the area, namely the old Mumbai-Pune Highway, the Ganeshkhind Road and the Baner Road.
- The area has an extensive bus service and the Shivaji Nagar Bus Stand lies in close vicinity.
- There is a railway station at Shivaji Nagar from which, the railway services can also be availed. The railway station is approximately 1-2 kilometres away from Ashok Nagar. The Khadki railway station also lies in close vicinity.
- The Pune airport is about half an hour from Ashok Nagar.
Employment hubs near Ashok Nagar
- Pune IT Park is located approximately 9 kilometres from the locality of Ashok Nagar.
- The ICC towers and the Maratha Chambers of commerce and industry are located at a distance of approximately 8 kilometres.
- RMZ Westend is approximately 5 kilometres away.
- Nanospace IT Park is located 5 kilometres away from the locality.
Ashok Nagar offers very good social infrastructure to its residents. Some of the reputed schools in Ashok Nagar include the Bharatiya Vidya Bhavan, St. Joseph High School and DAV School. Some of the leading hospitals in Ashok Nagar include the Seth Ramdas Shah Memorial Hospital, Oyster and Pearl Hospital and Ratna Memorial Hospital. The shopping needs of the residents are catered to by malls in Ashok Nagar such as the Juna Bazaar or Old Market, SGS Mall and Ozone Mall.
Price trends in Ashok Nagar
- Price appreciation- around 20% in the last one year.
- Current property rates- Rs 7,168 –Rs 1, 1861 per sq ft.
Reasons to invest in Ashok Nagar
Considering the price trends in Ashok Nagar and the rising demand, the locality should prove to be a good investment. There is an excellent appreciation of property rates with a number of projects being developed here. Moreover, the area is also located at very close proximity to the IT/ITES hub and industrial zones of Pune. Ashok Nagar has a green landscape and the government is planning to develop it further. Hence, the scope of development of infrastructure facilities is also there. Considering all these factors, Ashok Nagar is an excellent place for investment.
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