Lifestyle

Lonavala property market: An overview

[ecis2016.org] Lonavala is one of the beautiful hill stations located very close to Pune and by default, is located close to the industrial zones and the IT hubs of Pune. The area has good civic amenities and is very well-connected to the other parts of the greater city of Pune

Lonavala is a picturesque hill station located close to the city of Pune. The technical training ship of the Indian Navy, INS Shivaji, is located here. Nearby Lonavala localities include many famous areas of the state of Maharashtra such as Khandala, Lohagad, Visapur and Karjat. The varieties of the projects available in this area are many and they range from affordable to luxurious. There are a lot of reputed builders like the Emerald Group, Rachna Group and Anjor Promoters and Builders, who are working on their different projects in Lonavala. Some of the premier projects in Lonavala include Gold Valley Konkan, Puraniks Sayama and Regency Willows.

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Due to the 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. Moreover, Lonavala enjoys a central position to Mumbai and Pune. As a result, there has been a surge in the demand for residential apartments in Lonavala. Even though the prices of the flats in Lonavala are going up at a rapid pace, affordable housing can still be found here.

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Lonavala is the twin town for Khandala and both were discovered by Lord Elphistone, the British Governor General of Bombay Presidency. The civic amenities have also improved. The locality has led to the boost of the tourism sector in the state of Maharashtra.

Connectivity with nearby Lonavala localities

  • There are a few major roads which run through the area, namely, the Mumbai-Pune Expressway and the Mumbai-Chennai Highway.
  • The area has an extensive bus services and the Lonavala Bus Stand is very well-connected to the nearby towns of Karjat, Khopoli and Talegaon.
  • There is a railway station at Lonavala, from where the railway services can be availed.
  • It takes about one-and-a-half hours from Lonavala, to reach the airport in Pune, as well as the Chhatrapati Shivaji Maharaj International Airport, Mumbai.

Employment hubs near Lonavala

Lonavala is an excellent location to conduct various corporate conferences and meetings. It is very well-connected to the city of Pune.

  • The Pune IT Park is located approximately one-and-a-half hours away from Lonavala.
  • The ICC Towers and the Mahratta Chamber Of Commerce Industries & Agriculture are located at a distance of approximately one hour.
  • RMZ Westend is approximately one to two hours away.
  • Nanospace IT Park is located approximately one to two hours away.

Schools in Lonavala and other social amenities

Lonavala offers very good social infrastructure to its residents. Some of the reputed schools in Lonavala include the Sinhgad Public School, Ryewood International School and Kaivalya Vidya Niketan. Some of the leading hospitals in Lonavala include the Ashirwad Hospital, Shraddha Hospital and Yash Hospital. The shopping needs of the residents are catered to by malls in Lonavala such as the Lonavala Square Mall, Triose Plaza and Uphill Mall.

  • Price appreciation- Around 24% in the last one year.
  • Current property rates- Rs 4,537 –Rs 7,175 per sq ft.

Reasons to invest in Lonavala             

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

Check properties in Lonavala

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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