Why Wakad Is A Promising Real Estate Market
Pune west's Wakad region, of late, has been the talk of the town owing to its rapidly developing residential market. Situated in Pimpri-Chinchwad district, the secret behind Wakad's growing popularity is the residential destination's direct connectivity to Mumbai through the Mumbai Expressway. Secondly, the emergence of business complexes such as the Infotech and Biotechnology Park at Hinjewadi close to the Pune Expressway makes Wakad a promising realty hub. PropGuide tells you why Wakad is a prime real estate hotspot.
IT hub in the vicinity
The neighbourhood at Hinjewadi houses several global IT companies such as Synechron, Infosys, Geometric Software, KPIT Cummins, Wipro, Siemens, Tech Mahindra, IBM, TCS and Cognizant, all of which are situated in the Rajiv Gandhi IT Park.
Seamless connectivity
Mumbai is just 80 to 90-minutes' drive away from Wakad. The locality is well-connected through road and rail. The locality enjoys bus services of Mahanagar Parivahan Mahamandal Limited (PMPML) and connects to localities viz. Aundh, Pimple Saudagar and Pimple Nilakh. The nearest railway station is at a distance of 12 kilometres while the nearest airport is located 20 kilometres away. A flyover connecting Dangri Chowk to Nagar in Pimple Nilakh is also coming up in the area.
Finest social infrastructure
The presence of reputed schools and colleges provide a strategic advantage to the residents of Wakad. Educational institutions such as Indira School of Communication, D Y Patil Engineering College, Global Academy of Hotel Management and Kesari College as well as schools like Podar International School, International School, Dhaniraj School, M N P High School and High School make the locality lucrative. Shopping malls as well as healthcare centres namely Apex Hospital, Phoenix Hospital, Varad Hospital, Life Point Hospital and Tikone Hospital enhance the liveability index of Wakad.
Homes for every pocket
Although the average prices of a residential property have risen by 16.1 per cent in the past 41 months, yet there is a steady demand for homes in the region. 1BHK apartment is available for Rs 36.57 lakh, 2BHK for Rs 58.16 lakh, 3BHK for Rs 83.78 lakh while a 4BHK is available for Rs 2.05 crore. Apartments with sizes ranging from 280 sq ft to 6,094 sq ft have an average price of Rs 5,210 per sq ft. Shraddha Spaces Twin Towers, Mont Vert Vivant and Vastukalp Utkarsh are key projects in the affordable housing segment whereas Vastukalp — The Onyx, Kasturi Housing Epitome and Kolte Patil Western Avenue are notable luxury housing projects in Wakad.