Wagholi property market: An overview

[ecis2016.org] Wagholi is one of the rapidly developing suburban areas of Pune and is located close to the industrial zones and the IT hubs of Pune. The area has good civic amenities and is very well-connected to other parts of the greater city of Pune

Wagholi is a premier residential area located in the northern suburbs of Pune, which lies in close proximity to Pune airport. Wagholi area was ruled historically by a Maratha clan known as Bhoite. The Bhoite were amongst the chiefs of Shivaji and were active in the anti-British struggle. Nearby Wagholi localities include many famous areas of the city of Pune such as Kalyani Nagar, Yerwada, Vishrantwadi, Viman Nagar and Dhanori-Lohegaon. 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 The Majestique, Goel Ganga Group and Kolte-Patil Developers who are working on their different projects in Wagholi. Some of the premier projects in Wagholi include Kolte-Patil Umang Homes, Majestique Landmark City and Nyati Elan.

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Due to the advent of various IT and other multi-national companies, 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 Wagholi, with it being one of the noted suburbs of Pune. Although prices of the flats in Wagholi are going up at a rapid pace, affordable housing to suit the needs of the mid and the junior-level executives can still be found here.

The civic amenities have improved here. The industrial growth and growth of the IT sector, have led to the development of the retail and hospitality sectors in the area.

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Connectivity with nearby Wagholi localities

• There are a few major roads which run through the area, namely, Sant Jnaneshwar Marg, Nagar Road and Mundhwa Road.
• The area has extensive bus services and the Wagholi Bus Stand and Shivaji Nagar Bus Stand lie in close vicinity.
• There is a railway station at Wagholi from where the railway services can be availed. The Pune Junction railway station is approximately 15 kilometres away from Wagholi.
• It takes about 20 minutes from Wagholi to reach the airport in Pune.

 [ecis2016.org] Property rates & trends in Wagholi, Pune

Employment hubs near Wagholi

• Phursungi IT Park, Magarpatta City and the Amanora Park Town are located about 11 kilometres from Wagholi.
• The Weikfield ITciti Info Park and The Giga Space are located at a distance of approximately 8-9 kilometres.
• World Trade Centre, Cerebrum IT Park and the EON IT Park are located approximately 5-6 kilometres away from the locality.

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Schools in Wagholi and other social amenities

Wagholi offers very good social infrastructure to its residents. Some of the reputed schools in Wagholi include the Symbiosis International School, Victorious International School and Jyotirmay International School. Some of the leading hospitals in Wagholi include the Columbia Asia Hospital, Shree Hospital and Sanjeevani Nursing Home. The shopping needs of the residents are catered to by malls in Wagholi such as The Phoenix Market City, Inorbit Mall Pune and Lunkad Skymax Mall.

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Price trends in Wagholi

• Price appreciation- Around 20% in the last one year.
• Current property rates- Rs 3,765 – Rs 5,619 per sq ft.

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Reasons to invest in Wagholi

Considering the price trends in Wagholi and the rising demand, the locality could be a good investment destination. 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. Wagholi is developing at a fast pace and the government is planning to develop it further. Hence, the scope of development of infrastructure facilities is there. Considering all these factors, Wagholi is an excellent place for investment.

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