Mahalunge: The Realty Hotspot for Investment in Pune

2 min read

Mahalunge is the most sought-after micro-market with booming development and proximity to Hinjewadi, Baner and Wakad. The locality will be developed as Mahalunge Hi-tech City under the town planning scheme and has been showcased as a model project. Mahalunge situated along the Mumbai-Pune Highway, spread over 700 acres with lush green areas and hills in the background. Upon completion of town planning infrastructure apart from existing social & civic infrastructures, Mahalunge will be a modern and upscale society to live.

Although, the locality is home to National Games Village and Shri Chhatrapati Shivaji Sport Complex along with easy access to well-developed social & civic infrastructures. Mahalunge is well-connected through Mumbai-Pune Highway and Nande-Balewadi Road with all prime locations of Pune city.

The Pune International Airport and Pune Railway Station are easily accessible from this locality via multiple road routes within 1 hour.

Proximity to employment hubs

Mahalunge is strategically surrounded by numerous employment hubs of west Pune. Hinjewadi, the biggest IT-hubs of Pune are merely at 2 minutes distance from here. Hinjewadi IT Park, Rajiv Gandhi Infotech Park, Radius Tech Park, Teerth Techno Space and more than 200 IT hubs been mushrooming in its vicinity. There are various engineering, pharmaceuticals, and other manufacturing units in the nearby localities of Mahalunge. A large number of the workforce due to huge employment hubs, resulting in a tremendous surge in demand for residential and commercial projects in Mahalunge.

Social infrastructure

The micro-market offers different schools and medical facilities within 5-20 minutes. Plenty of amusement and recreational alternatives running from shopping malls to event congregations are available in the region. Several educational facilities such as Blue Ridge Public School, Om International School, Symbiosis International University, and others are based in and around the locality. Medical facilities, namely, Nucare Hospital, LifePoint Multi-Speciality Hospital & Dhanvantari Hospital, and shopping complex like XION Mall, Balewadi High street and Westside are present in its vicinity.

Realty market – An investment opportunity

Recently Mahalunge has emerged as a sought-after residential hub in West Pune, nearby micro-markets such as Baner, Hinjewadi & Wakad have become saturated and comparatively more expensive. The locality being developed as Mahalunge Township able to attract various prominent real estate developers, namely, Godrej Properties, VTP Realty, Paranjape Schemes Construction, Puraniks Builders, and many others.

Currently, the price of residential properties is hovering around INR 5,016 – INR 7,112 per sq. ft and the average price stood at INR 6,112 per sq. ft. As per price analysis by Square Yards Research, in the last ten quarters, the micro-market has registered around price appreciation of 8%. The capital value appreciation of residential properties is expected to move northwards due to the high demand of residential properties and a spike in rental properties.

 

Scope of growth

Mahalunge has tremendous potential to grow as an upscale locality in west Pune due to the planned development of infrastructure and proximity to multiple employment hubs. Mahalunge is being proclaimed as the first in a progression of PMRDA (Pune Metropolitan Region Development Authority) Town Planning Schemes, the Mahalunge Township will be its first model township and the advancement model will be utilized for consequent 45 townships that have been proposed.

The PMRDA has expected to attract investment in tune of INR 12,300 crore from private and public investors within three years following the completion of the township project.

The proposed 170 km Ring Road covering 46 locales, in which Mahalunge is one of them. This will drive future realty market growth and enhance the connectivity of Mahalunge with other hotspots of Pune city.

The proposed Hyperloop connectivity project between Pune and Mumbai with one of its stations in Wakad is nearby to Mahalunge. The future infrastructure development will bolster the micro-market to mature as an upscale residential market.

 

 

 

 

 

Sumit Mondal Content Analyst at Square Yards
Sumit Mondal Content Analyst at Square Yards