News - Times of India quoted comments by Ravi Marda in "Great Homes in Pune"

Comments by Ravindra Marda of eyeproperties were quoted in an article “Great Homes in Pune West” in the “Times of India” Pune edition on 28th March, 2008.

IT makes the difference

There's a buzz around western Pune, thanks to the influx of IT professionals,
says Menka Shivdasani

One of the nicest things to have happened to both Pune and Mumbai in recent times was the completion of Nitin Gadkari's Mumbai-Pune Expressway in 2002. The 93 km. project, which spins across the neighbouring cities, opened up the region in unimaginable ways. Suddenly, if you lived at, say, Navi Mumbai, areas in western Pune, like Aundh, were no more than an hour and a half away - maybe two, if you preferred to drive slowly. Conversely, if you worked in Pune and needed to visit the country's commercial capital in a hurry, you could zip down in the morning and be back in Pune in time for your 4 p.m. chai. Being on the West of Pune, of course, would give you an advantage while doing this, since places like Hinjewadi, Baner and Wakad are far more accessible on the Expressway.
No wonder then that western Pune has seen explosive growth in recent times. Aundh - once a peaceful holiday destination, particularly for Mumbaikars who had relatives at the serene Sind Society - may have reached saturation point, but there are other areas where growth is just waiting to happen. Property consultant Ravindra Marda of Eyeproperties Pune says: "The suburban areas which are near the city like Kothrud, Dahnukar Colony, Bhusari Colony, Karvenagar Sinhgad road, Pashan, Aundh, Viman Nagar, Wanawadi, Bibewadi, Market yard, and Kondhwa are developed and now there is no more space remaining to develop within these areas."
However, he adds, on the west side, places like Bavdhan, Pashan, Baner, Balewadi, Wakad, and Pimple Nilakh are still available for development. These areas have multiple advantages, he point out; while they may suffer the disadvantages of extended travel time to the railway station and Lohegaon airport, they are close to the expressway, to the Hinjewadi IT SEZ and offer quick access to the city centre.
Pune's western locations have seen tremendous growth over the last decade or so, boosted by the fact that they offer excellent connectivity, not only along the Expressway and the old Mumbai-Pune highway, but on the Nashik Road and Sholapur Highway as well. Marda says that till 1997, parts of Kothrud, Paud Road, Rambaug colony, Ideal colony, part of Sinhagad road up to flyover, Navsahyadri, Dahanukar Colony, Bhosale Nagar, Aundh, Pashan upto Abhimanshree had seen steady growth. Most of the developments were as bungalow cooperative societies and flats, housing government employees and professionals working in private companies, among others
Then, the IT revolution happened. In 1997, start-up software companies began their first tentative steps in rental flats and small bungalows in Kothrud, Karve Road, Paud road, and S. B. Road. By 2000, experts had started referring to this as a boom, as IT professionals increasingly
discovered the city.
MIDC got into the act, with the development of a huge software park in Hinjewadi and the focus shifted from central Pune towards the Western side. Property consultants like Marda and Shaji Thomas, who operated in the area, were delighted to find better infrastructure, rising demand for homes thanks to the IT SEZ and facilities like VSAT by STPI for High-speed Internet connection - all of which, in Marda's words, "proved that Hinjewadi is the best IT destination".
Companies like Infosys, Wipro, Tata Technologies and Geometric bought a larger space in the first phase and the need for development of a second phase was felt. If MIDC has it way, Hinjewadi could soon be one of the largest IT development centres in India; the area is attracting leading multinationals, including Microsoft.
There is no doubt that western Pune is poised for even more growth in the near future. Kapil Gandhi sums it up neatly when he says: "The western part has matured from a middleclass area having old buildings and conventional small shops, to a modern upmarket area offering beautiful roads, internationally level shopping and entertainment facilities and premium new generation housing options."
If you are looking for a good investment in Pune, this is where you begin! , Infrastructure needs to keep pace
With so much development in these areas, there is an urgent need for greater infrastructure to match the pace of growth. Some work has been done on this front - Shaji Thomas of Connextions Realtors points out that roads and public amenities have developed a great deal and suburbs like Pashan and Baner now have adequate water supply.

The expanding city

The influx of high-salaried software professionals into western Pune has led to the demand for premium properties that offer a plush lifestyle, complete with malls and multiplexes in the vicinity. Social infrastructure has also come up - for instance, educational institutions like DAV, Citi International School, Spicer College (primary to college level), autonomous colleges, convent schools like St Josephs for Girls, Pashan, Loyala in Pashan, Vidhya Valley in Pashan Sus, Indira Management Schools and Business Schools on the Highway, Mozhe College and many more. Parag Borawke, Marketing and Admin, Darode Jog Properties, says: "All the big major educational institutes like Bharati Vidyapeeth and Sinhagad technical institute which has medical, engineering, dental colleges are near the scheme on Sinhagad road - Crossover County."

Retail options have also expanded; as Marda points out, Future group has made its presence felt with six outlets under Big Bazar in Hadapsar, Bibewadi, Sinhagad Road, Baner road and now in Kothrud, apart from two luxury shopping malls under the name of Pune Central at Bund Garden Road and other at Ganesh Khind Road. "Currently there are no branded malls in the areas of Baner, Aundh, Pashan and Bavdhan," he says, adding, "There are a lot of inquiries for larger space availability in the real estate market to find a showroom or mall space in these locations."

Those who have invested in the area have hit a bonanza; the prices of the apartment schemes in Kothrud, Shivajinagar, Aundh, Kalyaninagar in 2000 shot up four times of the invested amount in just eight years. Now, with no more land available in these areas for development, adjacent areas like Bavdhan, Warje and Sinhagad road are being sold as extensions of Kothrud. According to Marda, the prices here are Rs. 2800 per sq ft to Rs. 3800 per sq ft
If Kothrud has seen expansion into Bavdhan and other areas, Shivajinagar and Aundh have not been left behind. These locations have now extended towards Pashan, Baner, and Wakad, with prices in these regions touching Rs. 3500 to Rs. 4500 per sq ft. Now, there is a new location in the vicinity being referred to as Aundh Annexe - Pimple Saudagar and Rahatani, which are about four km from Aundh and offer properties at prices ranging from Rs. 2600 to Rs. 3000.
With so much growth, the posh area of Kalyaninagar has now been extended towards Nagar road, Viman Nagar, Kharadi and Wadgaon Sheri, and prices here are Rs. 2800 to Rs. 3800.
Koregaon Park is extended towards Mundhwa and Magarpatta, Amanora Park townships are ready to absorb the pressure on this side. The prices here are 3000 to 4000 per sq ft, says Marda.


You can also read them on the links below:
1) IT Makes the difference
http://epaper.timesofindia.com/Repository/ml.asp?Ref=VE9JUFUvMjAwOC8wMy8yOCNBcjAxNDAw&Mode=Gif&Locale=english-skin-custom

2) The Expanding City
http://epaper.timesofindia.com/Repository/ml.asp?Ref=VE9JUFUvMjAwOC8wMy8yOCNBcjAxNDAy&Mode=Gif&Locale=english-skin-custom

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