East Pune’s Wanowrie area has strong social infrastructure as well as easy access to well-known IT/ITeS hotspots like Magarpatta, Hadapsar, and Viman Nagar. That is why residential projects of wanowrie has gained poupularity in last decade. Real investment in the neighbourhood has increased in the previous several years due to rising property values and increased demand from working professionals.
Pune is the centre of academic institutions and global corporations, which draws a growing number of young people to the city every year. These young people want established communities that meet their needs, such as good housing, reliable transportation, many facilities, and easy access to jobs. Among the eastern Pune neighbourhoods that have caught the attention of investors in the past three to four years is Wanowrie.
The bulk of the flats in the region are high-rise buildings, with most of them having two or three bedrooms. In Wanowrie, the average cost of a home may start at Rs 3,300 per square foot and go up to Rs 12,000 per square foot. Wanowrie real estate prices are somewhat higher than in other areas since the neighbourhood is known for its low pollution and safety levels, as well as other positive attributes including well-kept roads, renowned hospitals, and easy access to markets.
Wanowrie real estate landscape
In Wanowrie, most household supplies are priced at much above Rs 1 crore. The area’s typical residential value is between Rs 6,000 and Rs 8,000 per square foot. However, the cost of certain houses can reach an astounding Rs 20,000 per square foot, depending on the facilities included.
The area’s typical rental price per square foot is between Rs. 15 and Rs. 20. In Wanowrie, a two-bedroom flat may be rented for about Rs 20,000 a month. This area’s connectedness is its primary draw.
The availability of brand-new residential buildings in a conveniently located region makes Wanowrie an appealing destination in Pune, according to Gunjan Goel, Director of Goel Ganga Developments. People prefer this location since it’s convenient for getting to well-known areas like Camp and Fatima Nagar. The region’s connection would also be improved by the planned metro route connecting Hadapsar and Saswad. Wanowrie’s closest metro stop is six kilometres away at Hadapsar.
Principal factors of real estate growth
Robust connectivity-In Wanowrie, transportation is not a problem because to the area’s strong road network and hassle-free cab and auto-rickshaw availability at the door. Ghorpuri Station, which is 6.1 kilometres away and reachable by the Prince of Wales Road, is the closest train station to Wanowrie. The Pune-Nashik Highway provides easy access to the international airport located near Lohegaon.
Low crime rate-The region is secure to live in since there aren’t many recorded crimes, which is especially comforting for female migrants who might feel uneasy in a new city.
Social amenities-For those who enjoy the outdoors, the Empress Botanical Garden, located next to BT Kawade Road, is the area’s primary draw. Wanowrie also has six pharmacies and seventeen reputable hospitals, such as Arcus Hospital, Ayodhya Charitable Hospital, and Inamdar Multispeciality Hospital.
Education– The Podar International School, Kidzee, St. Mathews Academy, Junior College, and other well-known educational establishments are among the region’s many noteworthy attractions.
Entertainment:There are about ninety restaurants in the area, in addition to Amanora Mall, Seasons Mall, Vishal Mega Mart, and Reliance Fresh, to meet the demands of the locals in terms of shopping and entertainment. It also features several financial institutions, including Axis Bank, IDBI, and SBI, in addition to more than 30 ATMs.
Proximity to employment hubs-Wanowrie is home to a number of offices. Its proximity to Magarpatta (7km), Hadapsar (6) and Viman Nagar (12), the prominent IT/ITeS hub, make it a preferred choice for working professionals. Some famous global conglomerates near Wanowrie include Cognizant, Capgemini, and Tech Mahindra.
It is anticipated that the market will once again demonstrate its resilience and robustness. The demand for residential real estate has surged in the wake of the COVID-19 pandemic because to the growing ability of homeownership, and prices are expected to follow suit once market conditions stabilise.
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