Posh areas in Pune

[ecis2016.org] In this article, we look at the top 5 posh areas in Pune, along with the property prices and rentals in these areas

Over time, property values in Pune, the cultural capital of Maharashtra, have increased manifold. This increase has been remarkable, in case of best residential areas in Pune. The question is, which localities are counted among the posh areas in Pune?

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To help you find out, here is a list of the most expensive areas in Pune, where the traditionally rich crowd lives and which attracts the new-age startup owners and millionaires to invest in real estate.

[ecis2016.org] Cost of living in Pune

New Kalyani Nagar

Average price: Rs 13,500 per sq ft

New Kalyani Nagar is an extension of Kalyani Nagar. It is one of the posh area in Pune, known for some of the prominent commercial and residential establishments. Kalyani Nagar, known to be one of the best areas in Pune lies in the heart of Pune city and is accessible from different parts and is near to the railway station and airport. Due to the emergence of IT parks in Kalyani Nagar, this best area has gained popularity among office-goers, for entertainment and housing purposes. This Pune posh area lies in proximity to another exclusive neighbourhood of Koregaon Park. At present, some prominent developers are coming up with luxurious projects in New Kalyani Nagar, as Kalyani Nagar has become saturated, because of rapid development.

Check out properties for sale in New Kalyani Nagar.

Check out properties for rent in New Kalyani Nagar.

Erandwane

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Average price: Rs 13,479 per sq ft

This prime location in Pune is home to the famous Film and Television Institute of India and has a number of schools, colleges, shopping malls and restaurants. This is one of the best residential areas in Pune, mainly because it has established infrastructure and availability of amenities in close proximity. There are a number of bungalows and villa properties in Erandwane, which make it one of the preferred choices for those who are looking for spacious housing options. Apart from this, high-end housing complexes have also come up here in recent times, offering beautifully-designed apartments.

Check out properties for sale in Erandwane.

Check out properties for rent in Erandwane.

Shivaji Nagar

Average price: Rs 13,228 per sq ft

One of the best residential areas in Pune, Shivaji Nagar came into limelight when some of the top developers bought land here, to develop high-end housing societies to cater to the growing housing demand in the affluent and greener zones of the city. The locality also houses some of the important government offices, educational institutes and the city court. The residential prices here are expected to increase further, due to surging demand and lack of new constructions in the area.

Check out properties for sale in Shivaji Nagar.

Check out properties for rent in Shivaji Nagar.

Koregaon Park

Average price: Rs 12,464 per sq ft

Koregaon Park is one of the most well-known and prominent localities in Pune, known for its lush greenery and cleanliness. A number of commercial establishments have come up in the neighborhood to cater to the demand of the residents. This includes restaurants, retail outlets, a few night clubs and mini shopping complexes. This Pune posh area has now been converted into a wholesome shopping and entertainment destination, which attracts the young office-going crowd of the city.

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Check out properties for sale in Koregaon Park.

Check out properties for rent in Koregaon Park.

Boat Club Road

Average price: Rs 12,372 per sq ft

Boat Club Road is located on the eastern side of Pune and is known for its ultra-luxury housing societies in the city. With its proximity to the Pune-Mumbai Highway and prominent IT areas in Pune, the locality has become a popular residential destination for wealthy start-up owners. Most of the amenities are available within a two-km radius, including the renowned Royal Connaught Boat Club. Due to the high demand for residential properties in the area, the rentals are also very high and could fetch you up to Rs 1 lakh for a 2BHK flat, depending upon the facilities and interiors.

Check out properties for sale in Boat Club Road.

Check out properties for rent in Boat Club Road.

Property prices in posh areas of Pune

Source: ecis2016.org

USPs of Pune’s posh locations

All of these localities have excellent infrastructure, as well as high-end and quality residences. Residents here can enjoy a lavish lifestyle, owing to the available amenities in the area.  All these factors make these localities excellent, vis-à-vis investment value, even though they are extremely expensive.

Luxury property trends in Pune

According to reports, NRIs have again started scouting for luxury homes in India, with the most preferable location being Pune. The availability of large homes in the city, its cosmopolitan culture and the presence of reputed brands, have made Pune one of the most liked real estate destinations for Indians based in foreign countries. Another reason which makes Pune a better investment opportunity than any other city, is its robust job market which employs talent from across the country. The demand for rented accommodation is more vibrant than any of its neighbouring cities, excluding Bengaluru.

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Category: Lifestyle