Pune is the 7th largest metropolitan city in India and is witnessing a continual improvement in terms of its real estate sector. The rapid growth of the IT industry in the city has led to higher demand for homes across all parts of the city. One of the most attractive investment hotspots in Pune at present is Bhugaon. Bhugaon was only a relatively unknown area in the past and was dotted with peths, wadas and chawls. Over the last two years, contemporary residential structures have mushroomed in the area and due to its proximity to Kothrud, there has been a realty boom of sorts.
Bhugaon offers housing options for everyone. The apartments in this locality are priced between Rs.30-70 lakh on an average and this is a whopping 30-45% lower in comparison to Kothrud or Bavdhan. Kothrud is only 2.5 kilometres away from Bhugaon and is home to several premium healthcare, shopping and cultural establishments. As per several reports, a healthy 22% of apartments located in Bhugaon fall in the low-end housing segment which meets requirements of the majority of buyers.
The average prices of property in Bhugaon range between Rs.5,100-5,300 per sq. ft. in comparison to the average price point of Rs.8,500 per sq. ft. in Kothrud. Affordability is the major aspect which has been drawing both investors and buyers to the locality. Bhugaon lies on Pune’s eastern side and offers great connectivity to areas like Kothrud, Bavdhan and the vital Paud Road. The Pune International Airport is located only 24 kilometres away and can be accessed through the Mumbai-Pune Bypass and Paud Road.
Both these major roads offer congestion-free driving and the Pune railway station also lies just 17 kilometres away from Bhugaon and can be accessed through the Paud Road as well. Bhugaon comes with ample natural greenery which offers a better ambience for residents. The area has also witnessed the development of golf courses and parks which should please outdoor enthusiasts hugely. Paud Road is being widened and this has scaled up demand for properties in neighboring zones. Bhugaon is located near several schools, shopping malls, colleges and hospitals and this bodes well in terms of social infrastructure. A majority of buyers in Bhugaon are expecting handsome capital appreciation in the future on account of future growth and development prospects.