Kondhwa property market: An overview

[ecis2016.org] Kondhwa is one of the rapidly developing suburban areas of Pune and is one of the industrial zones and IT hubs of the city. The area has good civic amenities and is very well-connected to other parts of the greater city of Pune

Kondhwa is a residential area located in the southern side of Pune, which has the famous NIBM.

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Kondhwa is very closely located to Hadapsar, which is one of the major commercial zones of Pune and has three SEZs, namely, Phursungi IT Park, Magarpatta City and Amanora Park Town. Many IT companies like Honeywell, TCS, IBM and Accenture, have their offices in this area. The locality has also got a number of tourist spots.

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Nearby Kondhwa localities include many famous areas of the city of Pune such as Undri, Mahadev Nagar, Laxmi Colony and Hadapsar. The varieties of projects available in this area are many and they range from affordable to luxurious. There are a lot of reputed builders like the BU Bhandari Landmarks, Kolte-Patil Developers and Raviraj who are working on their different projects in Kondhwa. Some of the premier projects in Kondhwa include Sobha Carnation, Kumar Urban Sublime and Kolte-Patil Three Jewels.

Due to advent of various IT majors and other multi-national companies (MNCs), the city of Pune has been witnessing a rapid growth in influx of working population from outside the city. As a result, there has been a surge in the demand for residential apartments in Kondhwa, with it being one of the noted suburbs of Pune. Although the prices of the flats in Kondhwa 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 the growth of IT sector have led to the development of retail and hospitality sectors in this area.

Connectivity with nearby Kondhwa localities

• There are a few major roads which run through the area, namely, the Kondhwa Road, the Mumbai-Hyderabad Highway, the Solapur Road and NIBM Road.
• The area has extensive bus services with the Katraj Bus Stand and the Market Yard Bus Depot lying in close vicinity.
• There is a railway station at Hadapsar from where the railway services can be availed. The Pune Junction railway station is approximately 8 kilometres away from Kondhwa.
• It takes about 45 minutes from Kondhwa to reach the airport in Pune.

Employment hubs near Kondhwa

• Phursungi IT Park, Magarpatta City and the Amanora Park Town are located within 8-9 kilometres from Kondhwa.
• The SP Infocity and Megacentre are located at a distance of approximately 7-8 kilometres.
• Manikchand Ikon is approximately 11 kilometres
• World Trade Centre, Cerebrum IT Park and the EON IT Park are located approximately 12-13 kilometres from Kondhwa.

Schools in Kondhwa and other social amenities

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Kondhwa offers very good social infrastructure to its residents. Some of the reputed schools in Kondhwa include The City International School, Delhi Public School and Amanora School. Some of the leading hospitals in Kondhwa include the Columbia Asia Hospital, Sahyadri Speciality Hospital, Sanjeevani Nursing Home, etc. The shopping needs of the residents are catered to by malls in Kondhwa such as the Central Mall, Seasons Mall and Kumar Pacific Mall.

Price trends in Kondhwa

• Price appreciation- Around 20% in the last one year.
• Current property rates- Rs 4,197 – Rs 6,699 per sq ft.

Reasons to invest in Kondhwa

Considering the price trends in Kondhwa and the rising demand, the locality would prove to be a good investment region. There is excellent appreciation of property rates, with a number of projects being developed here. Moreover, the area is one of the IT/ITeS hubs and industrial zones of Pune. Kondhwa is already an upcoming locality in Pune and the government is planning to develop it further and so, the scope of development of infrastructure facilities is also there. Considering all these factors Kondhwa is an excellent place for investment.

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Category: Lifestyle