Pune’s Manjri is seeing high demand for housing owing to several favourable factors. Located close to Mundhwa in South-East Pune, the locality has swift connectivity through NH-9, proximity to developed localities and availability of basic facilities nearby. Let’s have a detailed look on what it has to offer to a real estate buyer.
Connectivity and infrastructure: It is located close to Pune – Solapur Highway, which makes it well connected to other parts of the city. Localities such as Viman Nagar, Magarpatta, Hadapsar and Kharadi are located within 8 kms from Manjri. Also, the International airport at Lohegaon is about 15 km away whereas railway station is about 13 km away. The area also boosts schools, hospitals and restaurants in the vicinity.
Price appreciation: The data with Magicbricks states that the capital value of apartment ranges from Rs 4,000 to 4,500 per sq ft. “Manjri was a rural area about 4-5 years back, however, from the past couple of years the area is witnessing new real estate developments,” says Ashok Mane of Shree Sai Consultancy. The data also reveals that the area has seen about 10 per cent increase in propertyvalues in the last one year. Also, many new projects are coming up which are still affordable when compared to nearby areas such as Viman Nagar and Kharadi.
Proximity to IT hubs: Due to its proximity to IT hubs such as Kharadi and Magarpatta, the area is seeing high demand or properties that are compact. “Young professionals who are bachelors or have small families look for smaller units. The smaller units are mostly in demand as these are easily maintained,” says Suresh Agrawal, owner of Laxmi Construction, a local development firm.
Small apartments in demand: Magicbricks data reveals that in Oct-Dec 2013 quarter, against the 67 per cent demand for 2BHK units; the supply constitutes about 65 per cent for the same property type. The supply of one BHK stands at 19 per cent out the total against the 25 per cent of the demand. However, against 7 per cent of demand for 3BHK units, the supply is about 19 per cent for such property type. This indicates that the area is seeing high demand for small and compact units.
So, if you are looking to buy small apartments within your budget, Manjri can be a best bet to opt for!
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