Pashan property market: An overview

[ecis2016.org] Pashan is one of the rapidly developing suburban areas of Pune and is located very 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

Pashan is a premier residential area located in the suburbs of Pune, which is also one of the oldest localities of Pune.

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Pashan has mesmerising natural beauty. The area has the famous Pashan Lake, which has been built artificially from a small rivulet – the Ramnadi, which originates in Bavdhan. Nearby Pashan localities include many famous areas of the city of Pune such as Kothrud, Bavdhan, Gokhale Nagar and Sus village. The varieties of projects which are available in this area are many and they range from affordable to luxurious.

There are a lot of reputed builders like Raviraj, Nyati Group and Pride Group, who are working on their different projects in Pashan. Some of the premier projects in Pashan include Kumar Urban Shantiniketan, Pride Purple Panorama and Raviraj Valencia.

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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 Pashan, with it being one of the noted suburbs of Pune. Although the prices of the flats in Pashan 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 improved. The industrial growth and growth of the IT sector have led to the development of the retail and hospitality sectors in the area.

Connectivity with nearby Pashan localities

• There are a few major roads which run through the area – the Satara Road, the Mumbai-Bengaluru Highway, the Paud Road and the Pune Bypass.
• The area has an extensive bus service and the Pashan Bus Stand and the Kothrud Bus Depot lie in close vicinity.
• There is a railway station at Shivaji Nagar from where the railway services can be availed. The railway station is approximately 8 kilometres away from Pashan. The Pune Junction railway station is located in close vicinity.
• It takes about half an hour from Pashan to reach the airport in Pune.

Employment hubs near Pashan

• Sharda Centre is located at approximately 7-8 kilometres from the locality of Pashan.
• The ICC Towers and the Mahratta Chamber Of Commerce Industries & Agriculture are located at a distance of approximately 6-7 kilometres.
• RMZ Westend is approximately 7 kilometres
• Nanospace IT Park is located approximately 3 kilometres away from the locality.

Schools in Pashan and other social amenities

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Pashan offers very good social infrastructure to its residents. Some of the reputed schools in Pashan include the St Joseph High School, St Vincent’s High School and Sinhgad Spring Dale Public School. Some of the leading hospitals in Pashan include the Apollo Clinic, Seth Ramdas Shah Memorial Hospital & Research Centre and Oyster and Pearl Hospital. The shopping needs of the residents are catered by malls in Pashan such as the City Pride, Ozone Mall and Juna Bazaar or Old Market.

Price trends in Pashan

• Price appreciation- Around 22% in the last one year.
• Current property rates- Rs 5,780 – Rs 8,270 per sq ft.

Reasons to invest in Pashan

Considering the price trends in Pashan and the rising demand, the locality would prove to be a good place for property investment. There is excellent appreciation of property rates with a number of projects being developed here. Moreover, the area is also located very close to the IT/ITeS hubs and industrial zones of Pune. Pashan is already an upmarket locality in 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, Pashan is an excellent place for investment.

Check properties in Pashan

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