– Kishor Pate, CMD – Amit Enterprises Housing Ltd.
The city of Pune has been acting like a magnet for the working masses. The growth in the IT/ITeS, hospitality and services sectors has been creating a steady demand for residential properties, but a lot of the inner city is already saturated. Development is thus spreading into new locations, many of which are undergoing large-scale transformation. One of these locations is Undri which, though one of the more recent entrants in the Pune real estate market, is already witnessing huge housing demand for several reasons.
First and foremost, most home buyers in Pune are in search for affordable housing that will cater to their families’ spatial needs while at the same time not being too far removed from the advantages of the city. Locations like Wanowrie, Salunke Vihar and NIBM have already reached maximum capacity in terms of meeting this demand, and have by and large become too expensive for the taste of budget home buyers. The demand for affordable housing that can no longer be met in these locations has now percolated into Undri.
As recently as 4-5 years ago, Undri lacked the kind of infrastructure that would attract residential real estate buyers and investors. However, things have rapidly changed since. The growth of the manufacturing and Information Technology sectors in the adjoining areas has made Undri the new Mecca of real estate development, and Pune’s leading developers are now part of the action there. Today, Undri offers both budget and affordable luxury segment housing, which means that it addresses a broad cross-section of Pune’s real estate demand.
Undri’s superior location advantages have worked well in its favour. It is conveniently close to Pune Camp, and is also easily accessible from various other key centers in Pune. Road-widening initiatives and other infrastructure enhancements are constantly adding to the value of this location on Pune’s real estate map.
Being close to NIBM, Salunke Vihar and Wanowrie, Undri provides easy access to shopping, entertainment and healthcare, but the biggest advantage it offers to residents is the fact that it is conveniently close to the IT and ITeS hubs of SP Infocity and Magarpatta. This factor makes Undri a very desirable location to transferring employees and new job takers in these establishments.
With Undri now having been partially absorbed into the Pune Municipal Limits and the rest soon to follow, it is very attractive to real estate investors. This will in turn induce the counter effect of faster infrastructure development and commercial activity. Between 2014 and 2015, when real estate markets across the country were experiencing decent, Pune was able to hold its own – largely thanks to cost-effective, high-demand locations like Undri, which has been attracting demand from blue-collar as well as white-collar professionals who are looking to upgrade their current living standards.
Undri is perfect for home seekers who are looking for a way out of the concrete jungles of the saturated inner city. It is a well-planned residential location with hospitals, schools, commercial hubs, shopping and recreation within easy reach, yet affordable to the largest segment of home buyers in Pune.
About The Author
Kishor Pate, Chairman & Managing Director of Amit Enterprises Housing Ltd. is the driving force behind one of the most successful real estate development firms in Pune and beyond. Apart from its signature luxury homes towers and premium gated townships, AEHL has also launched highly successful affordable housing projects like Astonia Classic and Colori in Undri and the Mediterranean-style township Astonia Royale in Ambegaon.