[ecis2016.org] Viman Nagar is one of the rapidly developing suburban areas of Pune and is located close to the industrial zones and IT hubs of Pune. The area has good civic amenities and is very well-connected to other parts of the greater city of Pune
Viman Nagar is a premier residential area located in the eastern suburbs of Pune, which lies in close proximity to Pune airport. Viman Nagar is a name which has been derived due to the presence of the air force station in the locality. Before independence, the locality was known as Dunkirk Lines. The locality has also got a number of tourist spots. Nearby Viman Nagar localities include many famous areas of the city of Pune such as Kalyani Nagar, Yerwada, Vishrantwadi, Dhanori-Lohegaon, etc. The varieties of the projects which are available in the area are many and range from affordable to luxurious. There are a lot of reputed builders like Vascon, Lunkad and Clover, who are working with their different projects in Viman Nagar. Some of the premier projects in Viman Nagar include Lunkad Sky Vie, Rohan Mithila, Lunkad Zodiac, etc.
You are reading: Viman Nagar property market: An overview
Due to advent of various IT majors and multi-national corporations, Pune has been witnessing a surge of working population from outside. As a result of this, there has been a spike in the demand for residential apartments in Viman Nagar, being one of the noted suburbs of Pune. Although the prices of the flats in Viman Nagar 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. The industrial growth and the growth of the IT sector, have also led to the development of the retail and hospitality sectors in the area.
Connectivity with nearby Viman Nagar localities
- There are a few major roads which run through the area –Sant Jnaneshwar Marg, Nagar Road, Mundhwa Road, etc.
- The area has an extensive bus service and the Viman Nagar Bus Stand and the Shivaji Nagar bus stand lie in close vicinity.
- There is a railway station at Shivaji Nagar from which the railway services can also be availed. The Khadki railway station is approximately about 10 kilometres away from Viman Nagar.
- It takes about 5 minutes from Viman Nagar to reach the airport in Pune.
Employment hubs near Viman Nagar
- Phursungi IT Park, Magarpatta City and Amanora Parktown are located about 10 kilometres from the locality of Viman Nagar.
- The ICC Towers and the Maratha Chambers of commerce and industry are located at a distance of approximately 12-13 kilometres.
- RMZ Westend is approximately 15 kilometres
- World Trade Centre, Cerebrum IT Park and the EON IT Park are located approximately 5-6 kilometres away from the locality.
Viman Nagar offers very good social infrastructure to its residents. Some of the reputed schools in Viman Nagar include the Symbiosys International School, Lexicon International School, Bishops School, etc. Some of the leading hospitals in Viman Nagar include the Columbia Asia Hospital, Shree Hospital, Sanjeevani Nursing Home, etc. The shopping needs of the residents are catered by malls in Viman Nagar such as the Phoenix Market City, Inorbit Mall Pune, Lunkad Skymax Mall, etc.
Price trends in Viman Nagar
- Price appreciation- Around 15% in the last one year.
- Current property rates- Rs 2,728 –Rs 9,641 per sq ft.
Reasons to invest in Viman Nagar
Considering the price trends in Viman Nagar and the rising demand, the locality should prove to be a good region for investment. There is excellent appreciation of property rates with a number of projects which are being developed. Moreover, the area is one of the IT/ITeS hub and industrial zones of Pune. Viman Nagar is developing at a fast pace and the government is planning to develop it further. So, the scope of development of infrastructure facilities is also there. Considering all these factors Viman Nagar is an excellent place for investment.
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