Looking For An Affordable Area in Pune? Try These 3 Localities
A dream destination for home buyers across the country, Maharashtra's cultural capital Pune is popular for its premium and luxury homes. However, with the demand for this segment surging, the city is also developing several areas into affordable housing hubs.
Here are three localities in Pune that may fit your budget, if you are looking for an affordable home:
Due to its underdeveloped infrastructure, Undri's real estate potential has not been unlocked fully. However, the area now has a connectivity with Wanworie, a posh locality which houses the National Institute of Bank Management (NIBM). This has spruced up real estate demand in the area.
A 1BHK home in Undri costs around Rs 24 lakh and Majestique Landmarks and Majestique Park are some of the upcoming projects in the area. Projects here are more spacious when compared to premium localities.
Moshi is a suburban area and is located in the Pimpri Chinchwad area at the intersection of the Nashik Road. The area is located close to the industrial belt of Bhosari and Chakan. It is also close to Alandi, a popular pilgrimage destination. Moshi is touted to witness the highest growth in the future for the affordable homes' segment, as the development by the municipality has been rapid. The city authorities have also proposed to build Pune International Exhibition and Convention Centre (PIECC) here, expected to be one of biggest convention centres in Asia.
Property prices in the area are still in the affordable range, as a 1BHK apartment in Moshi starts at Rs 20 lakh. Though a number of luxury apartments are being planned in the area, affordable housing units, too, are gaining ground. Mantra Moments Residency is one of the many such affordable housing companies here.
While Mundhwa is a prime locality, it is also emerging as a destination for affordable homes. Located between the IT hub of Magarpatta and the Pune railway station, Mundhwa has good access to schools, colleges, hospitals and banking facilities. The area is also known for many shopping malls and movie theatres. Mantra Properties has an upcoming project here, with the starting price of Rs 27 lakh for a 1BHK home.