With eastern Pune emerging as a central business district, Wagholi is reckoned as a promising residential and commercial destination
Business centres in Pune are gradu ally spreading their wings to the peripheral areas. That's a major reason as to why the outskirts have become happening hubs. Wagholi is one such premium residential destination on Nagar Road that is now a hotbed of realty activities.
Wagholi, which was predominantly an industrial and warehousing belt, is on way to becoming a popular residential destination.As a residential hub, the place is currently in a nascent stage and is recognised as an extension on the eastern corridor.
People are now opting for Wagholi because of the affordability factor, proximity to various IT parks, good connectivity via Nagar Road which has now been widened and access to social infrastructure, malls (Inorbit Mall, Phoenix Market City), schools, and hotels.
About a decade ago, the land price here was low. There were no significant residential projects at Wagholi. The developers started exploring Wagholi as a potential location around 2007 due to heavy demand by flat buyers. In 2007, a prominent developer had launched a scheme of row houses here.Since then, Wagholi has been witnessing a capital appreciation of five to seven per cent annually.
Wagholi offers a wide variety of projects from affordable to high-end. It is strategically located on Pune-Nagar Highway and enjoys the benefit of being located close to the Kharadi IT hub. The locality is still in the initial phase of development. It is witnessing social infrastructure development and is attracting buyers looking for both affordable as well as premium options. The place allows its residents to live away from the hustle and bustle of the city. Wagholi is an upcoming area in eastern Pune. Being close to Kharadi IT hub, new malls on Nagar Road, schools and colleges offer an added advantage to residents of this locality.
Wagholi has several educational institutes such as Dhole Patil College of Engineering, Lexicon Institute of Management, Moze College of Engineering, Joshi's Kohinoor Technical Institute, and several other international schools such as Lexicon, Sharad Pawar International School and Jyotirmay International School. Kolte hospital and Nathshree hospitals are also close by. Several other components of social infrastructure including popular hotels and the multiplexes and malls like Phoenix and Inorbit, are present in close proximity to Wagholi, which gives confidence to the flat buyers.
Over the years, there has been a phenomenal development in the belt and it has emerged as a commercial, retail and residential market. The Nagar road has developed into a sixlane road. Also, Wagholi will be tangent to the ring road which will be surrounding Pune. A new flyover connecting Wagholi to Shikrapur is proposed on this road which will be of four lanes. There are several roads under construction. For instance, the one directly connecting EON IT park to Wagholi is under construction. Due to these numerous upcoming developments, the area has a good potential to develop further into a major residential and commercial hub in future.
Wagholi has seen development from unorganised players to now organised and reputed players. There are numerous new and upcoming properties including residential projects and commercial buildings in Wagholi by leading developers. With so many residential and infrastructural developments in pipeline, it is all set to become a prominent location in the near future.
It's a housing hub
Wagholi has turned out to be a good combination of affordability and easy connectivity. The locality is set to witness new projects across categories
This is the area that now tops many realtors' priority chart. Wagholi is all set to match the increasing demand for smaller units, with almost 50 new projects coming up here, all in different phases of construction.
It is hard to find property that is a true blend of well-developed location and availability of smaller unit at affordable prices. Wagholi is a good combination of affordability and easy connectivity.
The area more than 50 new residential projects coming up which are offering maximum smaller units of 1BHK and 2BHK. Many of these projects will be ready for possession by this year, while the remaining are scheduled to be delivered by 2017-18. So, if you have a timeframe of one to two years before moving in, then you have a number of property options. One can get a 1BHK unit at a starting value of Rs 35 lakh and above, while a 2BHK apartment is available in a budget range of Rs 50 lakh and above.Upcoming projects in the area offer a variety of basic to high-end facilities.These include features like power backup, lifts, clubhouse, swimming pool, gymnasium, parks, reserved parking, security, private terrace garden, vaastu compliance, visitor parking and RO water system.
WHAT DOES WAGHOLI HAVE?
The area is preferred by buyers looking for affordability and easy access to work spaces, entertainment zones and stores for daily needs The locality is witnessing a rise in demand for smaller units with multiple affordable housing projects coming up, catering to the needs of the middle class homebuyers Property within the same budget is not available in the nearby areas such as Koregaon Park, where apartments are priced high, therefore Wagholi comes across as a better and smart location for investment Connectivity is another major reason which makes it an attractive location. It is well connected to other parts of Pune via the Khandala-Loni Road. The locality will soon witness a swift and quick connectivity to the Eon IT Park through the under construction road connecting it to the IT hubs The Nagar Road connects Wagholi to significant parts of city, as it starts from the Yerwada Bridge and passes through Yerwada, Kalyani Nagar, Viman Nagar and Chandan Nagar, reaching Wagholi. A four-lane flyover is also proposed on this road which will directly connect Wagholi with Shikrapur The area has been gaining attention of property seekers owing to the affordability and the well-equipped social and physical infrastructure. With new stock coming up here, the locality is expected to attract more home buyers.It is expected that going forward the demand from IT professionals is likely to be diverted here more.
In short, Wagholi, is a good choice if the buyer is ready to go in for smaller units.
VALUE FOR MONEY
Wagholi has witnessed good appreciation for realty investors over the years
It's one destination that would never let you down. Do you desire an enviable lifestyle in large homes with all kinds of fancy amenities? If yes, Wagholi can be an option to consider.
This east Pune locality offers maximum number of villa options across Pune at reasonable rates. This cost may even go up to some crores, depending upon the size of the unit, distance from the main road, features offered, quality of interiors and the furnishings.
The area offers 2BHK villas, with 1,500-2,000 sq ft area between a price range of Rs 70 lakh and Rs one crore and above. Bigger units of 4BHK and 5BHK with built-up area of 2,200-2,600 sq ft start over a crore onwards. These villas have ultramodern amenities such as private swimming pools, ultra modular kitchens and bathrooms, which cater to all the requirements of luxury-seekers.
Due to its premium offerings, Wagholi is home to senior management professionals who are also natives of the city and want to upgrade their address. Since this area is clean and unpolluted till now, because of limited occupancy and minimum commercial activities, like Kalyani Nagar and Koregaon Park, the locality remains in the preferred list of homebuyers.
“Wagholi is selected for investment as buyers need to pay less service tax, registration and stamp duty charges to the Gram Panchayat as compared to the Pune Municipal Corporation. Hence, buyers who want to save more on government charges choose it over other locations,“ says a broker active in the area.
Wagholi is at a 15-minute drive from the Pune international airport, when traveling through the Patil Vasti Road and the Pune Nagar Road. The Nagar Road, which has been widened, connects the locality to Viman Nagar, another premium locality in the city. The Khandala-Loni Road is an arterial road connecting Wagholi to other areas of Pune.
There is a proposal to connect Wagholi to the Ring Road. A flyover is also proposed on this road, which will connect the locality to Shikrapur, in the opposite direction.
SCOPE OF APPRECIATION
As per some reports Wagholi appreciated 34 per cent in past two years and 11 percent in the past one year. So if you are considering buying a luxury home for yourself, you know where to look!
Zooming in on Nagar Road
The real estate boom continues to unfold on this stretch of Pune where Wagholi is considered an established market
Consistency and sustained growth are the two pertinent aspects of a growing real estate market. The property market on Nagar Road and its periphery area have demonstrated a robust performance over a period of time. The Nagar road is a long stretch commencing from Yerwada going up to Wagholi and beyond. Along the way are prime locations of Kalyani Nagar and Viman Nagar, recently established sub-market of Kharadi and the upcoming market of Wagholi.
Nagar road continues to be a sought-after destination as it is a well-developed stretch of road with social and retail infrastructure in abundance along the road. Also, there are schools in the vicinity. The presence of jobs in the IT parks in Kharadi further makes this area attractive. The highway goes up to Ranjangaon where there is substantial industrial development. Travelling straight down this road is easier than travelling across town and therefore the Nagar road belt continues to show potential for the long run.
Experts pointed out that only a few real estate micro-markets in the Eastern part of the city have been able to match the outstanding success of Nagar Road. The success is not limited to this region alone.As a direct result of the relentless demand for properties in this belt, nearby locations such as Dhanori, Charoli and Wagholi have become the new watchwords on the city's real estate market. Their proximity of the Pune Airport adds a decisive ingredient to the overall growth recipe that drives this region.
Nagar Road is one of the pioneering real estate boom areas in Pune to emerge following the city's emergence as an IT ITeS hub. This is where many of the first call centres and medical transcription units opened up shop in Pune. It became the venue for more and more BPO, KPO and software development firms, entrenching this belt's value to the city's economy. Nagar Road offered these firms affordable properties to establish themselves. At the same time, they have sufficient land parcels available for the development of residential projects to house their employees. Nagar Road has gone on to become a prime hub for commercial spaces. Already established as an ITITeS magnet, it also attracted massive interest from the top-notch hospitality and retail developments. Today, Nagar Road has the highest concentration o five-star and business hotels as well as high visibility malls in Pune.
From 2006 onwards Nagar Road micromarket started to witness large to medium size developments starting from Yerwarda Kalyani NagarViman Nagar Kharadi Wagholi. In the short span of six to eight years, Nagar Road turned into a hot spot for retail, entertainment and hospitality sector with retail operators like Phoenix Market City, Inorbit Mall to star rated hotels like Hayatt, Novatel, Four Point, Ibis, PARC Estique et al. With the majority of the population being intra city population who moved in from other metropolitan cities Nagar Road provided them with a perfect cosmopolitan environment.
“Nagar Road catchment has become one of the most popular residential locations in the city with prime commercial properties throughout the Nagar Road has completely changed the skyline.
Today, Nagar Road has the highest number of five-star business hotels as well as malls with presence of renowned schools and educational institutes like Bishop's, St Arnold, Billabong, Aman Setu School, Victoria Kids, Symbiosis International, Symbiosis Institute of Media and Communication, Dhole Patil College of Engineering, Raisoni College, Lexicon Institute of Management to name a few; with the Metro Plan and BRTS on Nagar road the connectivity to rest of the city is for sure going to improve further. Its IT and BFSI support services which have been the major contributor to the growth in Nagar Road followed by Manufacturing because of Ranjangaon MIDC, which is Five Star rated MIDC.
Experts believe that with the perfect blend of various real estate segments and continually cross-pollinating demand across residential, commercial and retail segments, the rapid depletion of developable space in this region was inevitable. With demand being driven into the adjoining areas, Dhanori and Wagholi quickly rose to prominence and saw a significant influx of projects by Pune's leading developers. Charoli, the next location to receive the spillover demand from Nagar Road, is now poised to receive Pune's largest integrated township. The arrival of this massive project coincides with the approval for the proposed 170-kilometer Ring Road which encompasses Pune and Pimpri-Chinchwad.The fact that Charoli lies squarely along this major infrastructure project will result in massive major investments into the area over the next five years.
Equidistant from leading eastern suburbs, Wagholi is a commercial, retail and residential market
The city has many localities to watch out for. Pune's real ty market is spreading its wings to the city outskirts, which are top investment destinations today. Located strategically on Nagar Road, Wagholi is a happening realty hub, which is equidistant from leading eastern suburbs.
Several star hotels and prominent malls, educational institutes, banks, entertainment destinations and interesting restaurants are all close by.
A short drive from the airport and with easy access to areas like Hadapsar, Manjri and Ranjangaon, Wagholi is also close to Kharadi, an emerging large-scale IT hub. The development of Wagholi has made eastern Pune a sought-after residential location. Proximity to areas like Kalyani Nagar, Koregaon Park and Viman Nagar has given them an added advantage. Located on the eastern side of Pune, Wagholi is one of the peripheral areas of Pune gaining limelight presently due to various developments mushrooming here.The eastern areas of Pune have been in demand since the growth of the commercial sector. Major IT and other business companies are also increasingly setting up their base here. Earlier a sleepy town, Wagholi has an important place in the history of Pune. It used to be famous for mining and stone quarries. The vast stretch of Wagholi along the Nagar Road has attracted developers and residents alike.
Wagholi is an extension of Kharadi. Connectivity is good, as it gets access through Nagar Road to various places in Pune. There are certain restrictions in town planning while the development is different under the Pune Municipal Corpora tion (PMC). Wagholi is not completely exploited and is still in its initial phase of development. The social infrastructure is getting developed and new developments will promote the suburb. People looking for affordable housing and working in industrial areas of Nagar Road can find solace in Wagholi.
Social infrastructure here is growing with schools and hospitals in the area. The connectivity is excellent since the area has easy access to Bund Garden, Shikhrapur-Chakan road and Solapur highway. The airport is 30-minute away. As Pune ends at Wagholi, people from locations like Aurangabad, Ahmednagar find it good for investment as it is close to them. Information Technology (IT) professionals find it comfortable. The current real estate market conditions are good and it is the right time to invest in Wagholi as the rates are cheaper here.
Apart from land availability and affordable rates, the other advantages for Wagholi are the commercial establishments planned in various lo cations in Pune reaching saturation level. The cosmopolitan atmosphere of the eastern side is attracting buyers here. Either IT professionals mi grating for jobs or international expats coming to Pune find the eastern zone better due to presence of airport and cosmopolitan lifestyle.
Even the non-resident Indians (NRIs) find this place better for investment.
Wagholi is strategically located on Pune-Nagar Highway; it also enjoys the benefit of being located close to the Kharadi IT hub. It is witnessing social infrastructure development and is attracting buyers looking for both affordable as well as premium options. The place allows its residents to live away from the hustle and bustle of the city. It also has several educational institutes.
Over the years there has been a phenomenal development in the belt and it has emerged as a commercial, retail and residential market.