Pune presents itself as an emerging employment and investment hub, and rightly so. Apart from Pune city, there has been tremendous growth in Pune suburbs too making these upcoming investment destinations where Hinjewadi stands tall amongst all places. Hinjewadi is one of the rapidly developing suburban areas of Pune and is located very close to the industrial zones and the IT hubs of Pune. The presence of several IT hubs in Hinjewadi has pushed demand for residential spaces as most employees like to stay close to their work. The area has good civic amenities and is very well-connected to other parts of the greater city of Pune. Over some time, social infrastructure has improved and grown that making Hinjewadi a bustling suburb, ideal for residing.
Although a suburb, Hinjewadi has witnessed huge development and the emergence of corporate settlements, particularly the IT parks. The area has emerged as one of the major priorities of developers when it comes to developing new residential real estate projects. You will find a large number of residential real estate projects that have come up in and around the region. No other suburb of Pune has witnessed as much growth as Hinjewadi. Hinjewadi real estate market offers a string of super facilities to the people who are living in the area. This is one of the main reasons why real estate investment in Hinjewadi is considered to be lucrative. Hinjewadi real estate market is sure to see an upswing in its property prices his year.
Let us explore about Hinjewadi real estate market
Location
When you plan to buy a residential property one of the aspects you must check out is the location of the property. It is one of the features of the property that can affect its price and the convenience of the inmates or users of the property to a great extent. A property in Hinjewadi offers all the facilities of great connectivity, super civic amenities, a safe neighborhood, etc. All these aspects can help you to enjoy a comfortable and luxurious lifestyle in the coming times.
Hinjewadi Growth
Since 2003 every Govt. has consistently been plowing in money & schemes in this area to woo hi-tech industries. Liberal incentives were provided to IT and IT-eS since then. Further, the successive governments waived off stamp duties for owned and leased properties built by Maharashtra Industrial Development Corporation. With time, the area became home to huge global companies. Today this bubbling IT hub employs quite a few lakh people pushing demand for 1 and 2 BHK flats in Hinjewadi.
Hinjewadi-Upcoming Investment Destination
The primary reason why buyers wish to buy a flat in Hinjewadi is the employment opportunities it offers. The presence of several IT Parks in the area makes it an attractive residential location. Rajiv Gandhi Infotech Park is the focal point of the IT zone of Pune, i.e. Hinjewadi. The leading IT parks of Hinjewadi are Quadron Business Park, Embassy Tech Zone, and Blue ridge. These IT Parks house prominent IT companies such as Infosys, Wipro, Cognizant, IBM, TCS, etc. Given the kind of growth the area is witnessing, Hinjewadi flat price is still quite affordable. In the coming years, the area would be beyond the reach of many.
Real Estate Market Trends
The covid-19 pandemic led to a dip in property sales in the entire Pune and Hinjewadi was no different. However, stamp duty-cut by Maharashtra Govt. and lower lending rates by banks have brought a substantial rise in demand for homes in the area. The experts believe that the future of landed property in Hinjewadi happens to be bright and favorable. This is clear from the new real estate projects that you will see in Hinjewadi. Developers have multiple projects in the area.
Lower Lending rates
This is a time that is considered to be highly favorable for home buyers. Since lending rates are at an all-time low, this can be one of the best times when you can invest in your home.
Rise in demand for rental homes
In the last few years, Hinjewadi has shown a significant increase in demand for commercial as well as residential properties leading to a rise in the rental value of all the spaces around it. Apart from employment avenues, the surrounding areas of Hinjewadi also house many educational institutes. Home seekers include not only include the employed lot but also students studying in nearby institutes pulling in demand for 1BHK and budget homes. Flats for sale in Hinjewadi will see a huge upswing.
Other factors
Besides the above factors, Hinjewadi offers excellent connectivity to major employment hubs & other parts of Pune city. It is quite accessible to Mumbai-Pune Express Highway and Bangalore-Pune Bypass. The Metro project will also boost sales of property here. The area also enjoys good social infrastructure and civic amenities.
All in all, the area of Hinjewadi is not only laced with the presence of a large number of facilities but the region is poised to welcome new and further developments in the coming times. This is an aspect that has brought about an encouraging trend in the Hinjewadi real estate market. So, if you haven’t already booked a space here, grab one now!
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