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What drives demand for properties in Undri

India TV News Desk 26 Jun 2014, 17:13:46 PM IST
India TV News Desk
Pune: The city of Pune is constantly expanding, causing demand for homes in new areas and thereby boosting the faster development of these locations. Undri is not a new entrant on the Pune real estate landscape, but it is now gaining increasing prominence because of the massive rise in demand for affordable housing in this precinct.

The majority of property buyers are looking for homes that cater to their families' needs while at the same time remaining affordable. With the NIBM area having yielded maximum demand that has resulted in a host of projects that are priced above baseline affordability, Undri has now become a major contender to catch the expanding demand from there as well as highly developed areas likeSalunke Vihar and Wanowrie.

Undri has now emerged as one of the most viable residential property destination in Pune. While for many years it lacked the kind of infrastructure that garners interest from the buyer and investor community, this is now changing rapidly. The demand from the city's manufacturing and IT sectors has encouraged more and more developers to concentrate on this vibrant and promising area.

Importantly, areas like Undri are ideal for offering residential options to the budget homes buyer segments and at the same play a significant role in relieving the pressure of urbanization on the city. In fact, Undri now has many options both in the affordable and premium property categories, which is giving new prominence to the area,

In terms of location, Undri has very definite USPs. It is enticingly close to Pune Camp and has the additional advantage of being well connected to various key localities in Pune via local and interstate highways. At the same time, it retains its serenity and dense green cover protected by Government regulations, which has turned into a major draw for property buyers who are tired of the concrete jungle life with its pollution and traffic congestion.

Proximity to Wanowrie and NIBM ensures that residents in Undri have access to all necessities of daily living such as shopping, healthcare, entertainment and ample public transport. It is an ideal residential real estate location, and one of the few in the more central part of Pune which still offer the city's laid-back natural charm at affordable rates.

Undri also benefits from its proximity to the IT and ITeS hubs of Magarpatta and SP Infocity and also the thriving high street shopping area of MG Road. As a result, Undri is increasingly patronized by employees from the close-by IT/ITeS companies. With the widening of the Katraj-Kondhwa-Phursungi-Solapur highway, Undri is going to be even more connected and accessible.

The fact that all parts of Undri will soon be included within the Pune Municipal Limits is attracting significant interest from property investors who are banking on incremental value growth on the heels of even more infrastructure development in this area.

Kishor Pate, CMD - Amit Enterprises Housing Ltd.