[ecis2016.org] Nagar Road, one of the industrial zones and IT hubs, is one of the rapidly developing suburban areas in Pune. The area has good civic amenities and is very well-connected to other parts of the city
Nagar Road, one of the oldest localities and a premier residential area, is located in the eastern suburbs of Pune. It is one of the major commercial zones of Pune and has one SEZ—EON IT Park. Many IT companies, like Zensar, Mphasis, Wipro, Eaton, etc., have their offices in the area. The locality has also got a number of tourist spots.
You are reading: Nagar Road property market: An overview
Nearby Nagar Road localities include many famous areas of the city such as Lohegaon, Wagholi, Chandan Nagar, Mundhwa, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like Kolte Patil, Goel Ganga and Mantri who are working on their different projects in Nagar Road. Some of the premier projects in Nagar Road include Kumar Periwinkle, Kolte Patil Signature Meadows, Marvel Vantage, etc.
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Due to the advent of various IT majors and other multi-national corporations, Pune has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Nagar Road, being one of the noted suburbs of Pune. Although prices of the flats in Nagar Road are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.
The civic amenities have also improved here. The industrial and IT sector growth have led to the development of retail and hospitality sector as well.
Connectivity with nearby Nagar Road localities
- Several major roads that pass through the area – i.e., Mundhwa Road, Fountain Road, Grant Road, etc.
- The area has an extensive bus service and the Kharadi Bus Stand and Pune Swargate Bus Depot lie in close vicinity.
- The Pune Junction railway station is approximately 6 kilometrers from Nagar Road. There are railway stations at Khadki and Shivaji Nagar as well, from where the railway services can be availed.
- It takes about 20 minutes from Nagar Road to reach the airport in Pune.
Employment hubs near Nagar Road
- World Trade Centre, Cerebrum IT Park and EON IT Park are located within the locality of Nagar Road itself.
- The ICC Towers and Maratha Chambers of Commerce and Industry are located at a distance of 10 kilometres.
- RMZ Westend is approximately 17 kilometres away.
- Phursungi IT Park, Magarpatta City and Amanora Park Town are located about 5-6 kilometres from Nagar Road.
Nagar Road offers very good social infrastructure to its residents. Some of the reputed schools in Nagar Road include the Symbiosys International School, Victorious International School, Jyotirmay International School, etc. Some of the leading hospitals in Nagar Road include the Columbia Asia Hospital, Shree Hospital, Sanjeevani Nursing Home, etc. The shopping needs of the residents are catered by malls in Nagar Road such as the Phoenix Market City, Seasons Mall, Amanora Town Centre, etc.
Price trends in Nagar Road
- Price appreciation—Around 20% in the last one year.
- Current property rates—Rs 5,330-Rs 7,454 per sq ft.
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Reasons to invest in Nagar Road
Considering the price trends in Nagar Road and the rising demand, the locality is touted to become a good investment region in future. There are chances of good appreciation of property rates with a number of projects being developed here. Moreover, the area itself is an IT/ITeS hub and industrial zone. Thus, the demand for property here will only move northward. What more? Nagar Road is already an up-market locality in Pune and the government is planning to develop it further and so, the scope of development of infrastructure facilities is also good here. Considering all these factors, Nagar Road can be an excellent place for investment.
Check properties in Nagar Road
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Category: Lifestyle
