Key Location: Chakan, Talegaon, Chimbali Gaon, Somatne Phata
Key Highlights
- Locations such as Chakan and Talegaon in North Pune are counted among some of the fastest growing residential markets in Pune, registering an annual growth of roughly 20-25% in the recent past, as revealed by the Square Yards GIC.
- Growth in locations such as Chakan and Talegaon has been driven by robust automobile industry base on Chakan- Talegaon road and proximity to Pune-Nashik highway. Not to mention the proposed new Pune International Airport, that was once supposed to be opened at Chakan. (However, due to certain issues presently Rajgurunagar near Chakan is considered for the same project).
- North Pune is primarily known for affordable housing projects. The demand dynamics are more centred towards relatively smaller units comprising of 1 and 2 BHK units.
- Buyers could be equally split into end users and investors according to the insights presented by Square yards GIC.
- The present annual land price appreciation involves roughly 24-27%. Once the International airport is operational, it is expected to further increase.
- Robust industrial base integrated with upcoming airport has resulted in announcement of key township projects in the area. Key builders active in the area involve VTP, Mantra and Namrata etc.
Growth Factors
- The upcoming Pune International Airport is expected to further boost the positive sentiments prevailing about the North Pune realty sector.
- Once the airport will be operational, it will encourage more corporate and MNCs to enter into the region. Likewise more business and tourist activities will translate into development of more hotels, restaurant and retail ventures in the area.
- The Chakan and Talegaon also called as the Detroit of India will attract more automobile industries in the coming time. This will also fuel demand for affordable housing targeting the blue collar workforce, working in the industries.
