With ever-increasing property values in Pune’s city centre, peripheral areas have started grabbing the eyeballs of many home buyers. Sinhagad Road is one such stretch that has shown tremendous growth in the last five years.
Here’s why.
Connectivity
“Located in North-West side of Pune, Sinhagad Road provides good connectivity to Mumbai-Bangalore highway and IT hubs such as Baner and Hinjewadi,” says Sanket Mungad, a city based realtor, Preet Properties.
Infrastructure updates
To reduce the traffic snarls on this stretch, a nine kilometre road is planned directly leading to the Sinhagad Fort. In addition, one of the four corridors planned by the Pune Municiapal Corporation (PMC) for the Bus Rapid Transit System (BRTS) is Dhayari to Hadapsar that will pass through Sinhagad Road.
Capital appreciation
Not only haven for end-users, Sinhagad Road is also a potential option for investors. As per the data with us , the area has recorded an appreciation of about 38 per cent in the last one year. Thus, if you had purchased an apartment in Sinhagad Road for Rs 44 lakh in Dec 2012, you may well be able to encash it for Rs 61 lakh by now – an appreciation of Rs 17 lakh in a mere one year.
New projects
Owing to well-built connectivity and sound infrastructure, several developers have launched their projects on Sinhagad Road. Some of them are D S Kulkarni Developers, Shree Saikrupa Developers, Rohan Developers, Hemant Group, Saarrthi Group, and Shree Malhar Associates, among others.
From multi-storey apartments to villas, there is an array of housing options available. As per data with Magicbricks.com, the capital values of newly launched projects are in the range of Rs 60 lakh to Rs 3 crore. These projects offer all kinds of BHK configurations; however, buyers’ preference is mainly inclined towards 2BHK units.
Nanded city
Nanded City, a 700 acre mega township is another reason fuelling demand in Sinhagad Road. Launched by Magarpatta City, this township will have several corporate houses, IT companies, and animation and gaming companies. This will not only create ample job opportunities, but will also enhance the housing demand in the area.
Social and physical infrastructure
“Sinhagad Road has all the amenities required by the residents. Hospitals, banks, schools, restaurants and entertainment centers are all within the radius of 5km,” says Seema, Seema Group.
Due to proximity to Khadakwasla Dam (1.2km), Sinhagad Road does not face any water woes. Hence, the area is also sought for rental accommodation. The prevailing rates for 1BHK unfurnished apartments are Rs 5,000-10,000 per month and a furnished or semi-furnished are available for Rs 10,000-15,000 per month. For 2BHK apartments, it varies from Rs 15,000-20,000 per month
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