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Nagar Road, one of the oldest localities and a premier residential area, is located in the western suburbs of Pune.
You are reading: Narhe property market: An overview
The area was a village until the 1970s-80s and agriculture was the mainstay. Later, industrialisation and modernisation led to urbanisation and the locality saw a huge development. Nearby Narhe localities include many famous areas of the city such as Bavdhan, Dhayeri, Pirangut, Kothrud, etc. A variety of projects are available in the area and range from affordable to luxurious.
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There are a lot of reputed builders like the Balaji Group, Vilas Javdekar Group and Darode Group who are working on their different projects in Narhe. Some of the premier projects in Narhe include Balaji Residency, Vilas Javdekar Yashwin Royal, Aditya Sanskruti, etc.
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 Narhe, being one of the noted suburbs in Pune. Although the prices of the flats in Narhe are going up at a rapid pace, still, affordable housing can be found here.
Narhe is located very close to the areas which has some of the premier educational institutes of Pune. As a result, there is a considerable influx of students from outside as well. 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 Narhe localities
- There are a few major roads which run through the area i.e., Sinhagad Road, Mumbai-Bengaluru Highway, Paud Road, Warje Bypass, etc.
- The area has an extensive bus service and the Ambegaon Bus Stand and Katraj Bus Depot lie in close vicinity.
- There is a railway station at Shivaji Nagar which is approximately 13 kilometres away from Narhe.
- It takes about an hour and 10 minutes from Narhe to reach the airport in Pune.
Employment hubs near Narhe
- Sharda Centre is located within the radius of 10 kilometres from the locality.
- The ICC Towers and Maratha Chambers of Commerce and Industry are located at a distance of 13 kilometres.
- Pandare industrial area is approximately 9 kilometres away.
- Manikchand IKON is located approximately 14 kilometres away from the locality.
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Narhe offers very good social infrastructure to its residents. Some of the reputed schools in Narhe include the Bharatiya Vidya Bhavan, St Vincent’s High School, Kothari National School, etc. Some of the leading hospitals in Narhe include the Mai Mangeshkar Hospital, Poona Hospital and Research Centre, Ratna Memorial Hospital, etc. The shopping needs of the residents are catered by malls in Narhe such as the City Pride, MSM Mall, Abhiruchi Mall, etc.
Price trends in Narhe
- Price appreciation—Around 20% in the last one year.
- Current property rates—Rs 3,847-Rs 6,003 per sq ft.
Reasons to invest in Narhe
Considering the price trends in Narhe 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 is located very close to the industrial zones and IT/ITeS hubs. Thus, the demand for property here will only move northward. What more? Being an up-coming locality, the government is also planning to develop it further and the scope of development of infrastructure facilities is good here. Considering all these factors, Narhe can be an excellent place for investment.
Check properties in Narhe
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
