The real estate in Pune has increased approximately 20 times in the last decade, surveys report. The city ranks second in the country when it comes to real estate growth. It’s been quite a journey for Pune, initially known as the pensioner’s city. It has now transformed into an IT hub. A never before boom is being experienced in all sectors.
The city is currently expanding in every direction; resulting in swift growth in some of the areas. Every area in Pune is defined by its residents. For example, Kothrud is a home for Maharashtrian families, while, Hinjewadi, Wakad and Aundh are known for its IT crowd. Another area that is shaping its identity is the NIBM road in Kondhwa. Residential property in NIBM has seen tremendous growth in the last few years. It has made its mark as one of the most prime locations to reside and work in Pune.
NIBM: Then and Now
Even in the early 2000s, area around NIBM road was completely isolated. The area has been named after the National Institute of Bank Management (NIBM), a premiere institute of Reserve Bank of India situated here. The institute was established in 1969 and has a beautiful campus. Even then only few bungalows and villas could be spotted in the vicinity. It was not well connected to the core areas of the city. The area did not give you a feel that you are actually a part of Pune.
But now, this picture has completely changed. Few exceptional residential properties are present on both sides of the NIBM road. Some of the best builders have invested in the area, including Godrej Real Estate, Kolte Patil Developers, Raheja, Nyati Group, Goel Ganga and many others. It has attracted many young home buyers. Today, NIBM is known as a place where one can live in peaceful surroundings.
NIBM: A good area to live in
NIBM road is surrounded by green hills. It has the lowest pollution rate in the city. It is purely a residential belt of luxury living. NIBM has city’s best schools, malls, shopping centres and convenience stores and all can be accessed easily. It has got good roads, public transport is available and that too with good frequency. Adding to this are the affordable rates of the residential properties here, the range is anywhere between Rs 4500- 6000 per sq. ft.
Real Estate Scenario
NIBM and surrounding area is a hot favourite destination as far as home buying is concerned. Located on the western side of the city, it is seen on the lines of suburbs like Wakad, Bavdhan, Kharadi from other part of Pune. NIBM emerges as a leader in this competition because of its added advantage of peaceful and natural surroundings. That is why, one of the best builders in Pune, Goel Ganga Developments has built and proposed several projects in this area. Their projects like Ganga Elika, Albero, Sangria and Sai Ganga are all ready to serve you.