Undri property market: An overview

[ecis2016.org] Undri is one of the rapidly developing suburban areas of Pune and is also an industrial zone and IT hub of Pune. The area has good civic amenities and is very well-connected to other parts of the greater city of Pune

Undri is a residential area located in the southern side of Pune. It became prominent in the real estate scenario after the near saturation on the NIBM Road. Undri is very closely located to Hadapsar, which is one of the major commercial zones of Pune and has three SEZs – Phursungi IT Park, Magarpatta City and Amanora Park Town. Many IT companies like Honeywell, TCS, IBM and Accenture have their offices in this area. The locality also has a number of tourist spots. Nearby Undri localities include many famous areas of the city of Pune such as Malwadi, Mahadev Nagar, Laxmi Colony and Hadapsar. The varieties of projects available in the area are many and they range from affordable to luxurious. There are a lot of reputed builders like Goel Ganga Group, Kolte-Patil Developers and Godrej Properties who are working on different projects in Undri. Some of the premier projects in Undri include Goel Ganga Sparsh, Godrej Prana and Kolte-Patil Maple Leaves.

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Due to the advent of various IT majors and multi-national companies (MNCs), Pune has been witnessing a rapid influx of working population from outside the city. As a result, there has been a surge in the demand for residential apartments in Undri, with it being one of the noted suburbs of Pune. Although the prices of the flats in Undri 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 also improved. The industrial growth and the growth of IT sector, have led to the development of the retail and hospitality sectors in the area.

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Connectivity with nearby Undri localities

• There are a few major roads which run through the area –Kondhwa Road, Mumbai-Hyderabad Highway, Solapur Road, etc.
• The area has extensive bus services and the Katraj Bus Stand and the Market Yard Bus Depot lie in close vicinity.
• There is a railway station at Hadapsar from where the railway services can be availed. The Pune Junction railway station is approximately 10 kilometres away from Undri.
• It takes about 45 minutes from Undri to reach the airport in Pune.

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 Employment hubs near Undri

• Phursungi IT Park, Magarpatta City and Amanora Park Town are located within 8-9 kilometres from Undri.
• The SP Infocity and Mega Centre are located at a distance of approximately 8 kilometres.
• RMZ Westend is approximately 19 kilometres
• World Trade Centre, Cerebrum IT Park and the EON IT Park are located approximately 14 kilometres away from the locality.

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Schools in Undri and other social amenities

Undri offers very good social infrastructure to its residents. Some of the reputed schools in Undri include the City International School, Delhi Public School and Amanora School. Some of the leading hospitals in Undri include the Columbia Asia Hospital, Sahyadri Speciality Hospital and Sanjeevani Nursing Home. The shopping needs of the residents are catered to by malls in Undri such as the Central Mall, Seasons Mall and Kumar Pacific Mall.

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Price trends in Undri

• Price appreciation- Around 20% in the last one year.
• Current property rates- Rs 3,790 –Rs 5,805 per sq ft.

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Reasons to invest in Undri

Considering the price trends in Undri and the rising demand, Undri 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 one of the IT/ITeS hub and industrial zones of Pune. Undri is already an upcoming locality in Pune and the government is planning to develop it further. So, the scope of development of infrastructure facilities is there. Considering all these factors, Undri is an excellent place for investment.

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Category: Lifestyle