Pune, India’s eighth-largest metropolitan economy, has the sixth-highest per capita income. In the last decade, the city has seen tremendous growth and infrastructure development. Areas such as Hinjewadi and Hinjewadi have made the list of the Best Cities in India for your next real estate investment.
If you are looking to buy a home or invest in real estate in Pune, here are some reasons why you should consider investing in Hinjewadi properties.
1. A Feasible Infrastructure
Pune Railway Junction has many amenities such as ATMs, waiting rooms, retiring rooms, cloakrooms, dormitories, health kiosks, eateries, water vending machines, pay-and-use toilets, and many other services.
The Pune railway station is only 20 minutes away from Hinjewadi, allowing for flexible travel plans for relocating employees.
Pune Airport: Serving both domestic and international flights, the Pune airport is only 7.3 kilometres from Hinjewadi via Nagar Rd/Pune – Ahmednagar Highway/Samrat Ashok Rd. This accessibility has also resulted in a significant increase in the property value of Hinjewadi flats.
2. The Commercial and Social Infrastructure
Schools: Several top notch schools have all been put in place in the suburb such as EuroSchool Hinjewadi, EON Gyanankur English School, The Orbis School, Vidya Pratishthan’s Magarpatta City Public School, Stella Maris School, Mother Theresa School, Nirmala Convent School, Podar International, The Orchids International School and others.
Higher education institutes include BJS College, D.Y Patil College, Management Institute Of Leadership & Excellence, Christ College, Kothari International, and Shankar Rao Ursal College of Pharmacy, all of which are located in Hinjewadi’s vast suburb.
Hospitals: Healthcare and emergency services are widely available throughout New Hinjewadi’s outskirts, providing the best medical care. Shree Hospital, Columbia Asia Hospital, Rising Medicare Hospital, Medipoint Hospital, and Balaji Hospital are a few examples.
3. The Extensive IT Park and Commercial Hub
The EON business park in Hinjewadi is easily identified as one of the driving forces behind fair trade and Pune’s free-market economy. It is surrounded by some of the best multinational corporations and conglomerates and exudes an international aura.
It is an important node of Pune’s first Special Economic Zone (SEZ) in Hinjewadi. The 57-acre campus is located in Pune’s Eastern Corridor. Phases I and II are the two spatial sections that comprise the entire hub.
Phase I: Some of the companies in Phase 1 are: Credit Suisse Barclays Global Service Centre, Symantec Software Solutions Private Limited, Veritas Technologies, Eaton, Trizetto, Citi Service Center, Cognizant, Vodafone, Affinity Express, and SG Analytics.
Phase II: Some of the companies in Phase 2 are: WIPRO, Reliance, Polaris, TATA, Zensar, etc.
4. Low Property Prices Due to The Strategic Neighbourhood
One of the primary advantages of investing in Hinjewadi is the rapid increase in real estate values, which has pleased many previous investors.
During the last ten years, Hinjewadi’s capital gain and property price appreciation have benefited both investors and homebuyers.
Based on current trends, it is easy to predict that rates will rise significantly in the coming years.
5. Residential and rental hotspot
Hinjewadi is a popular choice for tenants and homebuyers due to its central location and good connectivity. Approximately 95% of the housing inventory in Hinjewadi consists of 2 BHK and 3 BHK multi-story apartments. It is a high-end neighbourhood with an average price of Rs 8,400 per square foot. The majority of residential developments in the area are ready-to-move housing societies developed by reputable builders such as Lodha Hinjewadi. Residential developments in Hinjewadi have experienced a four percent annual price increase.
6. Future developments
Several upcoming projects are expected to significantly increase Hinjewadi’s overall infrastructure growth. In Hinjewadi, for example, a 43-acre IT Park is proposed, which will provide nearly 2.4 million square feet of Class A office space in its first phase. It will be developed in collaboration with Goel Ganga Corporation by Hines, a global real estate investment firm. The planned metro corridor from Hadapsar to Hinjewadi under Pune Metro Phase-II will boost real estate development while also improving connectivity. Road infrastructure will also be improved as the authority plans to renovate roads for Rs 123 crore. Two flyover projects are in the works to alleviate traffic congestion during peak hours, at Hinjewadi Bypass Chowk and Nagar Road. A riverside road from Bund Garden to Mundhwa Bridge is also planned to improve traffic flow in Hinjewadi. The government has also proposed beautification projects, as well as several parks with jogging paths and playgrounds for children.
The upcoming infrastructure developments, as well as commercial and residential projects, are expected to further improve the real estate market.
7. Beautiful Environment
The magnificent Mula-Mutha River is within walking distance of the entire Hinjewadi area. Hinjewadi has a beautiful environment and a multicultural population despite being a densely populated residential and business district.
8. Close to Cosmopolitan Pune
Hinjewadi is close to Pune’s most cosmopolitan and developed areas, including Viman Nagar, Kalyani Nagar, Koregaon Park, and Magarpatta. These Pune areas are extremely well developed and are home to the city’s elite urban class. Hinjewadi takes after these areas and is extremely well established, hosting the young and modern crowd who visit Pune.