Pune Report

Shinde Chhatri - A tribute to the great Maratha general Mahadji Shinde

Pune has been known by a plethora of sobriquets. Popular among them: Queen of the Deccan, cultural capital of Maharashtra, pensioner’s paradise and Oxford of the East.

Pune is one of the historical cities of India with a glorious

past, an innovative present and a promising future.

Human civilisations have prospered on the banks of rivers;

Pune city too has flowered on the banks of the Mutha river

originating from the Sahyadri range of mountains. Research-

ers have found evidence of human civilisations that existed

100,000 years ago along the Mutha river.

Down the centuries, Pune has been ruled by several dynas-

ties. The earliest evidence found (copper plates of 758 A. D.

and of 768 A. D.) reveals that the Rashtrakootas ruled this

region then. At that time, Pune was referred to as Punaka

Vishaya and Punya Vishaya. Copper plates of 960 A. D. and

963 A. D. refer to it as Punaka Wadi and Punaka Desha. Here

Vishaya means region. Later on, the city has been mentioned

as Kasabe Pune. The Pune Gazetteer explains the term Pune

as Punya - a holy place. In Hindu tradition, a confluence two

rivers is sacred. Hence, this city, where there is a confluence

of two rivers (Mula & Mutha), is Punyanagari. After the Rash-

trakootas, Pune was ruled by the Yadava dynasty. After the

fall of this dynasty, it came under Muslim dominance till the

middle of the seventeenth century. The great Maratha leader

Shivaji later made Pune the capital of the Maratha Empire

he established in the 17th century. After Shivaji’s death, his

heirs could not hold his empire together and so their dynasty

declined and power passed to the Peshwa, the first of a long

line of professional administrators. Under the Peshwas, Pune

acquired great political importance and became well known

as a centre of learning and culture. Pune remained the seat of

the Maratha fiefdom till the British ousted them in 1817 after

the historic third battle of Panipat.

Over the years, Pune developed into a major industrial centre

with defence, automobile and engineering giants and other

factories and corporations making it their base. Pune is also

among the greenest urban areas in the country with more

than 40 per cent of its area under green cover.

fusion CITY

Pune City is under two ‘Mahanagarpalikas’, namely:

Pimpri-Chinchwad Municipal Corporation (PCMC), and •

Pune Municipal Corporation (PMC)•

The boundaries of the Pune Municipal Corporation are spread

over 430 sq. kms., with a population of close to three million

(census 2001).

The PCMC covers an area of around 171 sq kms with popula-

tion of over a million (census 2001).

Road Connectivity:

Both public transport (autorickshaws and buses) and private

transport (cars, motorcycles and scooters) are popular in

Pune. According to one study, there were then 4 lakh cars

and 17 lakh two-wheelers in Pune in 2007. More than 2 lakh

vehicles are added to the traffic in Pune every year.

Pune is well-connected to other cities by Indian highways

and state highways. National Highway 4 (NH 4) connects it

to Mumbai and Bangalore, NH 9 to Solapur and Hyderabad,

and NH 50 to Nashik. State highways connect it to Ahmed-

nagar, Aurangabad, and Alandi.

Since 2002, Pune has been connected to Mumbai via the

Mumbai-Pune Expressway, India’s first six-lane high-speed

expressway. Both pre-paid air-conditioned cabs and private

bus companies ply this route, connecting Mumbai and Pune

in around three hours. Out of the total distance of 165 kms

from Mumbai to Pune, the Express Highway part is 96 kms.

The city of Pune in India was the first to experiment with a

Bus Rapid Transit system, plying pilot routes in December

2006.

Airport:

Pune has an International Airport situated at Lohegaon, oper-

ated by the Airports Authority of India. It shares its runways

with the neighboring Indian Air Force base, the only one of

its kind in the world.

The area between Chakan and Rajgurunagar, around the vil-

lages of Chandus and Shiroli, is currently being considered

as the construction site for the new international airport. If

constructed here, it will be 40 km from central Pune along

the Pune-Nashik National highway (NH-50) and will be the

largest one in Asia.

infrastructure UPDATE

Rail Network:

A rapid transit system has been proposed in Pune, and work

is scheduled to begin in 2010. It is being planned in consulta-

tion with Delhi Metro Rail Corporation Limited, the corpora-

tion which built and operates the Delhi Metro. Three routes

have been identified thus far:

Warje-Chinchwad, via Karve road, Jangli Maharaj road, •

Shivajinagar, and the Pune-Mumbai road (22 km, el-

evated)

Shivajinagar-Kalyaninagar, via Raja Bahadur Mill road •

and the Pune-Ahmednagar road (13 km, elevated)

Agriculture College-Swargate, via Shivaji road (10 km, •

underground)

The city has two railway stations - one in the city and the

other at Shivajinagar. Both stations are administrated by the

Pune division of the Central Railways.

SEZ Update

Pune infrastructure is well supported by the automobile and

software sectors. Some of the major automobile-related

units in Pune include TATA Motors, Bajaj Auto, Daimler-

Chrysler, Kinetic Engineering and Force Motors Ltd. Other

major industrial units in Pune are Coca Cola, Whirlpool, LG,

Bharat Forge Ltd, Thermax Ltd, Cummins Engines Co Ltd,

Sandvik Asia, Finolex, Greaves India, Eaton Corporation, Frito

Lay. Prominent software giants have chosen the Pune due

to its efficient infrastructure and easy availability of skilled,

English-speaking manpower. Some of that have a major pres-

ence are listed below-

Accenture•

Cognizant•

Dell•

HSBC Global Technology •

IBM •

Infosys •

Kanbay Software •

KPIT Cummins •

Neilsoft•

Siemens•

TCS •

Tech Mahindra •

Wipro•

Xansa•

The Maharashtra government has provided many incentives for investments in Pune and as such many SEZs have been promoted here,

IT/ITES being majority of them (over 70%). Details are tabulated below-

List of SEZs notified as on October, 2009:

Source: Ministry of Commerce & Industry, Dept. of Commerce

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

Sr. No.

Base Realty Pvt. Ltd.

DLF Akruti Infopark (Pune) Ltd

Dynasty Developers Pvt. Ltd.

EON Kharadi Infrastructure Pvt. Ltd.

Flagship Infrastructure Pvt. Ltd.

Gera Developments Pvt. Ltd.

Infosys Technologies Ltd.

International Biotech Park Ltd.

Kumar Builders Township Ventures Pvt. Ltd

Serum Bio-Pharma Park

Syntel International Pvt. Ltd.

The Manjri Stud Farm Pvt. Ltd.

WIPRO Ltd.

Magarpatta Township Development& Construction Co. Ltd.

Maharashtra Industrial Development Corporation Ltd.

Name

Hinjewadi, Taluka Mulshi

Rajiv Gandhi Infotech Park-Phase II, Hinjewadi

Rajiv Gandhi Infotech Park-Phase II, Hinjewadi

Taluka Haveli

Village Hinjewadi, Taluka Mulshi

Kharadi

Rajiv Gandhi Infotech Park-Phase II, Tal. Mulshi

Village Mann, Taluka Mulshi- Hinjewadi

Hinjewadi

Pune-Solapur Road

Talawade software Park

Pune-Solapur Road

Hinjewadi

Magarpatta City, Village Hadapsar, Taluka Haveli

Rajiv Gandhi Infotech Park-Phase III, Hinjewadi

Location

IT/ITES

IT/ITES

IT/ITES

IT/ITES

IT/ITES

IT/ITES

IT/ITES

Electronics, Hardware, Software including IT/ITES

Electronics Hardware & Software including ITES

IT/ITES

Biotechnology

IT/ITES

IT/ITES

IT/ITES

Pharmaceuticals & Biotechnology

Type

10.56

10.33

17.12

18

11.80

10.14

31.49

12.87

10.97

11.98

223.56

23.18

16

15.79

20

Area (in hectares)

major locations WITHIN PUNE

East Pune

West Pune

South Pune

North Pune

Central Pune

Note: Map is not to scale and is for illustration purposes only.

Mumbai - Pune Expressway - India’s first six-lane concrete, high-speed, access controlled tolled expressway

Presently there are around seven operational malls in Pune

which span upto 1.5 million sq ft, with majority of the malls

being in Central Pune. However the scene is set for a com-

plete transformation as retail development of above 4 million

sq ft is expected in East Pune, followed by over 3 million sq

ft mall space development in West Pune.

Operational

Proposed / UnderConstruction

Source: ICICI Property Services

organized retailDEVELOPMENT

Mall Space Distribution in Pune

Area

in M

illion

sq.

ft.

0

1

2

3

4

5

6

East West North Central

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

Sr. No.

Centre Port

Fun & Shop

Ishanya

Jewel Square

Mariplex

Nucleus

SGS ( Kakade)

44sinew Hills

Amanora

Blue Ridge

Kakade City

Omega properties

Soul Space

Xion Mall

Dolphin Mall

G Corp

In Orbit

Magarpatta Mall

Market City

Runwal gold

Westend

Mall Name

Ganesh Khind Road

Fatima nagar

Yerawada

Koregaon Park

Kalyaninagar

Modelina Road

Modelina Road

Kothrud

Hadapsar

Hinjewadi

Kothrud

Wakad

Kothrud

Hinjewadi

Hadapsar

Nagar Road

Kharadi

Hadapsar

Viman Nagar

Hadapsar

Aundh

Site Location

Central Pune

Central Pune

North Pune

East Pune

East Pune

Central Pune

Central Pune

West Pune

East Pune

West Pune

West Pune

West Pune

West Pune

West Pune

East Pune

North Pune

East Pune

East Pune

North Pune

East Pune

West Pune

Zone

140,000

140,000

550,000

120,000

200,000

160,000

200,000

1,600,000

2,000,000

200,000

600,000

150,000

200,000

200,000

200,000

350,000

325,000

1,700,000

750,000

250,000

376,000

Total Area in sq. ft. (Approx.)

Operational

Operational

Operational

Operational

Operational

Operational

Operational

Proposed

Proposed

Proposed

Proposed

Proposed

Proposed

Proposed

Under Construction

Under Construction

Under Construction

Under Construction

Under Construction

Under Construction

Under Construction

Status

Details of mall space in Pune is tabulated below-


Distribution of residential supply (no. of residential units) in

pipeline across Pune

North

South

East

West

Central

Zone

1 / 1.5 BHK

2 / 2.5 BHK

3 BHK

4 BHK / RH / Bungalow

1 / 1.5 BHK

2 / 2.5 BHK

3 BHK

4 BHK

RH / Bungalow

1 / 1.5 BHK

2 / 2.5 BHK

3 BHK

4 BHK

RH / Bungalow

1 / 1.5 BHK

2 / 2.5 BHK

3 BHK

4 BHK

RH / Bungalow

2 BHK

3 BHK


Apartment Type

641

1027

1481

2642

600

1034

1573

2652

3004

647

1170

1678

3165

3029

655

1126

1527

2494

4677

1036

1430

6161

Average Size ofa unit (in Sq ft)

713

3312

1585

145

1587

3155

1572

344

189

703

2613

1752

612

254

1255

5049

2021

310

744

11

60

70

No. of Units

0.46

3.40

2.35

0.38

0.95

3.26

2.47

0.91

0.57

0.45

3.06

2.94

1.94

0.77

0.82

5.69

3.09

0.77

3.48

0.01

0.09

0.43

Total Area (Million sq. ft)

Source: ICICI Property ServicesSource: ICICI Property Services

East Pune

West Pune

South Pune

North Pune

Central Pune

Supply of Residential Units coming up by year 2012

Pune would experience an influx of over 38 million sq ft of

residential space by 2012, with one-third of the supply con-

centrated in West Pune. Distribution of Residential Supply in Pune

21%

21%

24%

33%

1%

Total 141 0.53

Total 9379 13.85

Total 5934 9.16

Total 6847 8.17

Total 5755 6.59

Total Supply expected by Dec 2012 28056 38.30

Aga Khan Palace - Also known as the Gandhi National Memorial because of its close association with Mahatma Gandhi

Major Locations:

Bopodi, Chinchwad, Nashik Road, Pimpri, Viman Nagar, Vish-

rantwadi

This region hosts the International Airport of Pune, situ-•

ated at Lohegaon.

A new international airport is already being planned near •

Chakan & Rajgurunagar which once operational would

boost the real estate in this region.

Chakan has emerged as a major industrial hub with big •

names like Volkswagen, Bajaj Auto, Mercedes Benz,

and many other auto ancillaries having presence here.

Talegaon is strategically located at the centre of the •

golden triangle formed by Mumbai, Pune & Nashik; and

has already witnessed high level of industrial activity.

Until recently Pimpri-Chinchwad was perceived mainly •

as an industrial hub, however in recent times, the sce-

nario is fast changing with residential development

picking up. Recently the state government has granted

in-principle approval for building 100 metre tall buildings

within Pimpri Chinchwad municipal corporation (PCMC)

limits. This would further boost the real estate scenario

in this region.

Accor has recently opened its first IBIS hotel with •

around 175 fully equipped rooms, on the Nagar Road

artery which is in close proximity to the International

Residential Market in North Pune:

Airport. Also, Grand Hyatt would be operational in Vi-

man nagar in coming months.

Viman Nagar, since last few years, has become one •

of the finest locations in Pune with many exclusive &

luxurious residential projects, IT parks, hotels and edu-

cational institutes. It also has good connectivity to the

central area of Pune.

Rohan Builders have their ongoing project ‘Rohan Mithi-•

la’, which is one of their largest projects, spread across

56 acres in Viman Nagar.

Runwal Group has launched a high-end project in Viman •

Nagar, namely, ‘Runwal Luxuria’ which comprises of

luxurious 2 & 3 BHK apartments.

Kalpataru Properties, a major name in Mumbai Real Es-•

tate space has entered North Pune with their project

‘Kalpataru Estate’ at Pimple Gurav.

Nyati, Kolte Patil, • Lunkad Realties and Goel Ganga are

some of the other major developers in this region.

Commercial space of close to 4 million sq. ft. to be cre-•

ated in North Pune by 2011, which translates to over

thirty three thousand new employment opportunities.


Average Apartment Size of 2 BHK (in sq. ft.)


Total Supply (in mn. sq.ft.) by 2012

Total Supply (in no. of units) by 2012

1027

1481

6.59

5755

northPUNE

Distribution of Residential Supply as per Apartment Type Some of the residential Projects in North Pune

Residential Property Rates in prime residential markets of North Pune1 / 1.5 BHK

2 / 2.5 BHK

3 BHK


28%

3% 12%

57%


Project

Ganga Skies

Kalpataru Estate

Queens Town

Metropolitan

Mystique Moods

Park Island

Rohan Mithila

Runwal Luxuria

Developer

Goel Ganga Group

Kalpataru Properties

Mindspace Realty

Elpro Estates

Naik Navare

Raviraj Group

Rohan Builders

Runwal Group

Average CapitalValues (Rs./sq.ft)

2500 - 3000

2300

3300 - 3800

2800 - 3200

CapitalValues

(Rs/sq. ft)

2900

2650

3100

3200

3500

4500

4200

3200

Rentals for 2 BHK (Rs./month)

7000 - 10000

6000

10000

8000

No. of Units

336

800

1100

1000

350

250

1000

300

Outlook

SS

SS

R

SS

Date of Completion

Jun 2010

Apr 2010

Oct 2010

Mar 2011

Jun 2010

Mar 2010

Mar 2012

Dec 2011


Source: ICICI Property Services*Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.

Project

Chinchwad

Nashik Road

Viman Nagar

Vishrantwadi

Distribution of Apartment Type - North Pune

Outlook Key

R - Rising F - Falling S - Stagnant SW - Stagnant But likely to weaken SS - Stagnant But likely to strengthen

100

150

200

250

300

350

400

450

Mar2005

Mar2006

Mar2007

Jun2007

Sep2007

Dec2007

Mar2008

Jun2008

Sep2008

Dec2008

Mar2009

Jun2009

Sep2009

050

100150200250300350400

Mar2005

Mar2006

Mar2007

Jun2007

Sept2007

Dec2007

Mar2008

Jun2008

Sept2008

Dec2008

Mar2009

Jun2009

Sep2009

Property Price Movement Index: North Pune

North Pune

North Pune (A)North Pune (R & L)

Comparison of actual (A) and real & logical (R&L) price movement

The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison

between quarterly property price movements and changes in consumer price index for North Pune. Since zone wise inflation data

is not available we have substituted Pune inflation figures for each zone.

The actual property prices in North Pune have been consistently increasing at a pace higher than the real & logical price points

as is apparent from the above chart.

Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for Mar ‘05)

ChinchwadLohegaonVishrantwadiBopodiNashik Road

Garden at Shaniwar Wada - Political capital of the Maratha Empire until its annihilation

premium amenities including plunge pool.

Marvel Realtors have launched their high-end project ‘Marvel •

Isola’, spread across 12 acres off NIBM Road, which con-

sists of apartments starting from 3 BHK and onwards.

Other ongoing luxury projects at NIBM include ‘Sobha •

Carnation’, spread over 5 acres comprising of around

100 units with unit size starting from 2165 sq ft on-

wards and ‘Clover Palisades’ which proposes to house

108 spacious 3 BHK & 4 BHK units.

Nyati Group has also launched ‘Nyati Windchimes’ a •

luxury lifestyle project offering 3 & 4 BHK configurations,

off NIBM road.

‘Kumar Palmsprings’ is another notable project by Kumar •

Properties located at Undri. The project offers bungalow

options with high end amenities.

‘Nanded City’ a mega township spread across 700 acres •

on Sinhgad Road, proposes to house 1/2/2.5/3 & 4 BHK

apartments, bungalows along-with hospital, school &

recreational facilities.

D.S.K, Nyati, Kumar Properties, Marvel, Clover, Kolte •

Patil and Amit Enterprises are some of the prominent

developers in South Pune.

Major Locations:

Ambegaon, Dhayari, Katraj, Kondhwa, Parvati, Sailsbury

Park, Sinhgad Road

The temples on Parvati hill are the oldest heritage struc-•

tures in Pune and reminiscent of the Peshwa dynasty. Its

also one of the most scenic locations in Pune as the hill,

at a height over 2000 ft above sea level, offers a breath-

taking aerial view of the city.

Katraj Snake Park situated near the Bhartiya Vidyapeeth •

University, with a recent addition of a zoo; has become

a popular attraction in this region.

Khadakwasla dam is also a key attraction, especially •

during the monsoons.

Sinhgad road also houses the Institute of Armament •

Technology (IAT) and the Sinhgad Institute. The road fur-

ther leads to the base of the famous Sinhgad Fort.

Kondhwa has evolved as an important residential area •

in recent past. While the area towards Katraj is develop-

ing as a low cost housing destination with budget factor

weighing in more here; the area towards Wanowrie &

NIBM is coming up as a preferred location for premium

housing.

Ackruti City has come up with a residential project near •

the upcoming area of Katraj-Kondhwa link road, named

as ‘Ackruti Country Woods’ which is spread across 60

acres and plans to house over 2000 families.

Ekta Group has its ongoing project ‘California’ near NIBM, •

which offers 3 & 4 BHK air conditioned apartments with

Residential Market in South Pune:

southPUNE






1034

1573

8.17

6847

Some of the residential Projects in South Pune:

Amit Bloomfield

Clover Palisades

Country Woods

DSK Vishwa

Ekta California

Kumar Palmgroove

Kumar Princetown

Marvel Isola

Nyati Windchimes

Sobha Carnation

Project

Amit Enterprises

Clover Group

Akruti City Ltd

D. S. Kulkarni Developers Ltd.

Ekta World

Kumar Properties

Kumar Properties

Marvel Realtors & Developers

Nyati Group

Sobha Developers

Developer

4200

5500

2400

2900

5250

3100

3675

4200

4200

3555

CapitalValues

(Rs/sq. ft)

1000

150

1100

600

175

300

250

204

75

130

No. of Units

Mar 2012

Jun 2011

Jun 2011

2012

Dec 2010

Jun 2010

Aug 2010

Mar 2012

Jul 2011

Jun 2010

Date of Completion


Distribution of Residential Supply as per Apartment Type


Residential Property Rates in prime residential markets of South Pune

Ambegaon

Katraj

Kondhwa NIBM

Kondhwa Khurd

Sailsbury Park

Sinhagad Road

Location

2600 - 3000

2500

3500-5000

2500-2700

4500

2600-3000

Average Capital Values

(Rs./sq.ft)7000

7000

10000

7000

14000

8000

Rentals for2 BHK

(Rs./month)

R

SS

R

R

S

SS

Outlook


1 / 1.5 BHK

2 / 2.5 BHK

3 BHK


Distribution of Apartment Type - South Pune

23%

46%

23%

8%

Outlook Key


Some of the residential Projects in South Pune:

100

150

200

250

300

350

400

450

Mar2005

Mar2006

Mar2007

Jun2007

Sep2007

Dec2007

Mar2008

Jun2008

Sep2008

Dec2008

Mar2009

Jun2009

Sep2009

ParvatiKatrajSinhgad RoadDhayariDhankawadiSalisbury ParkKondhwa

Property Price Movement Index: South Pune



The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison

between quarterly property price movements and changes in consumer price index for South Pune. Since zone wise inflation data

is not available we have substituted Pune inflation figures for each zone.

South Pune has experienced a wide disparity in the rate of growth of actual property prices when compared with the real & logi-

cal price movement, which prevailed in recent quarters as well.

South Pune (A)South Pune (R & L)

050

100150200250300350400

Mar2005

Mar2006

Mar2007

Jun2007

Sept2007

Dec2007

Mar2008

Jun2008

Sept2008

Dec2008

Mar2009

Jun2009

Sep2009

South Pune

Shinde Chhatri - The monument is a great architectural achievement which combines imposing austerity with beauty

Major Locations:

Hadapsar, Kalyaninagar, Kharadi, Koregaon Park, Wanowrie

Koregaon Park along-with Kalayani Nagar, is considered •

to be one of the most up-market areas in Pune.

Hadapsar & Kharadi have come up as a preferred loca-•

tion for the IT/ITES sector. These locations serve not only

as a hub for IT activities but also are preferred residential

destinations promoting the ‘walk to work’ culture which

is fast becoming popular.

Due to its proximity to Koregaon Park & Kalyani Nagar, •

Mundhwa has also experienced decent development in

last few years.

Out of 10000 total units planned in Magarpatta City, •

Hadapsar, a township project by Magarpatta Develop-

ers, possession of around 5000 units has already been

handed over. Also the township is said to have gener-

ated around 40000 employment opportunities.

Another township planned at Hadapsar is ‘Amanora Park •

Town’ a project by City Group which is spread across

400 acres. The project would include school, college,

hospital, restaurants and sports complex within the

township.

Marvel Realtors has many of its ongoing projects in this •

region, such as Ritz, Zephyr, Diva, and others which can

be classified under the high end category.

Oxford Properties Group has recently come up with ‘O •

Hotel’, a five star property in Koregaon Park which is in

close proximity to the Lohagaon airport (around 6 kms).

Prominent developers in this region include Marvel, Clo-•

ver, Kolte Patil, Goel Ganga, Kumar Builders, Raheja Con-

struction, Panchshil, Nyati, Brahma and others.

This part of Pune also houses top hotels like the Taj Blue •

Diamond, ‘O’ Hotel, both at Koregaon Park, West Inn at

Mundhwa, Grand Maratha Sheraton (under-construction

at Kalyani Nagar) and Aurora Towers at Camp.

Overall, East Pune to get influx of 15 million sq ft of •

commercial space by end of 2010 which approximately

translates to over one lakh thirty thousand new employ-

ment opportunities.

This region is also set to experience a huge retail devel-•

opment, as over 4 million sq ft of mall space is proposed

in coming years.

Residential Market in East Pune:






1170

1678

9.16

5934

eastPUNE

Some of the residential Projects in East Pune

Project

Amanora Park Town -Phase I

Amar Renaissance

Ganga Satellite

Laburnum Park

La Cresta

Marvel Diva Prima

Marvel Zyphyr

Sun City II

Trillium

Developer

City Corporation Limited

Amar Builders

Goel Ganga

Magarpatta Developers

Paranjpe Schemes

Marvel Realtors and Developers

Marvel Realtors and Developers

Bramha Builders

Magarpatta Developers

CapitalValues

(Rs/sq. ft)

4200

7500

5000

3800

5500

5500

4500

5500

3250

No. of Units

1600

80

174

56

132

495

112

334

50 (balance

units)

Date of Completion

Dec 2010 onwards

Feb 2011

Mar 2010

Ready

Dec 2010

Oct 2010

Oct 2011

Ready

Jun 2010

Residential Property Rates in prime residential markets of East Pune

Location

Koregaon Park

Kalyani Nagar

Wanowrie

Kharadi

Hadapsar

Average Capital Values (Rs./sq.ft)

8000-12000

5000-8000

4000-4500

2500-2800

2700-3000

Rentals for2 BHK (Rs./month)

35000

17000

15000

9000

9000

Outlook

S

S

SS

R

R



12%

44%

30%

14%



1 /1.5 BHK

2 /2.5 BHK

3 BHK

4 BHK /RH /Bungalow

Distribution of Apartment Type - East Pune

Outlook Key


KalyaninagarKoregaon Park CampYerawadaKharadiHadapsarWanowrie


East Pune (A)East Pune (R & L)


The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison be-

tween quarterly property price movements and changes in consumer price index for East Pune. Since zone wise inflation data is not

available we have substituted Pune inflation figures for each zone.

As is evident from above chart, East Pune has consistently witnessed a disproportionate hike in property prices as compared with the

real & logical price movement.

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Jun2007

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050

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Mar2005

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East Pune

Property Price Movement Index: East Pune

Kesari Wada - Lokmanya Tilak began his two newspapers (Kesari and Maratha) in Kesari Wada

Pegasus Properties (a joint venture of Avinash Bhosale •

Group & Kumar Properties) is developing a township

named ‘Megapolis’ at Hinjewadi spread on 150 acres of

land and plans to house around 10000 units.

Supreme Universal has launched ‘Supreme Pallacio’ in •

Baner, a project offering 3 & 4 BHK fully air-conditioned

apartments with private landscaped terraces.

Paranjape’s Blueridge at Hinjewadi, Nyati Esplanade at •

Bavdhan & Nandan Prospera at Baner are other notable

projects in this region.

Aditya Builders, GK Developers, Nyati, Paranjpe, Pride •

Purple, Vascon, Wadhwani Constructions and others are

some of the prominent developers in West Pune.

Over 15 million sq ft of commercial space is being de-•

veloped in West Pune over a period of two years which

translates into 1.4 lakh new employment opportunities.

Residential Market in West Pune:






1126

1527

13.85

9379

Major Locations:

Aundh, Balewadi, Baner, Bavdhan, Hinjewadi, Kothrud,

Pashan, Pimple- Saudagar, Wakad

Construction activity is highest in this region as over •

9000 units are in pipeline translating to around 13.8 mil-

lion sq ft. of residential development.

The Mumbai-Pune expressway has brought about a •

complete transformation of Aundh which was earlier

considered to be a far-flung suburb.

Aundh has now become a bustling location and has •

emerged as one of the upmarket areas in Pune. Its con-

nectivity with Central parts of Pune also has enhanced

due to improved road network.

Baner has also become a popular destination amongst •

those who desire to be near Aundh area but prefer a

more affordable option.

Proximity to Rajiv Gandhi Infotech Park, Hinjewadi and •

the Mumbai - Bangalore by-pass, has brought about a

good fortune for real estate activity in this area. It is

seen by many as one of the future key growth areas

in Pune.

Top names in the hospitality industry also have •

made their presence in this part of Pune with Sayaji

Hotel opening its new property at Wakad with over 250

rooms and ‘Courtyard’ by Marriott with over 150 rooms

at Hinjewadi.

westPUNE

Some of the residential Projects in West Pune


Project

Astonia

Blueridge - Phase I

Ganeesham

Megapolis

Esplanade

Park Titanium

Roseland Residency

Sai Ambience

Developer

Amit Enterprises

Paranjape Scheme

Wadhwani & Sidhivinayak

Pegasus Properties

Nyati Group

Pride Purple

G K Developers

Wadhwani Group

CapitalValues

(Rs/sq. ft)

2700

3600

3300

3250

3200

4000

3250

3100

No. of Units

170

920

106

500

125

190

152

1200(Phasewise)

Dec 2010onwards

Date of Completion

Dec 2011(Phasewise)

Dec 2011

Oct 2011

Dec 2010

Jun 2011

Dec 2011

Jun 2012

Residential Property Rates in prime residential markets of West Pune

Location

Aundh

Bavdhan

Hinjewadi

Pimple Saudagar

Wakad


5000

3000-3500

2800-3500

2800-3200

2700-3000


15000

10000

8000

9000

8000

Outlook

S

R

SS

R

R



13%

54%

22%

11%


1 /1.5 BHK

2 /2.5 BHK

3 BHK

4 BHK /RH /Bungalow

Distribution of Apartment Type - West Pune

Outlook Key


Property Price Movement Index: West Pune

West Pune (A)West Pune (R & L)

Even though there has been a considerable gap between the actual property prices & the real & logical price points, the gap seemed

to be on a decline till Jun 2009, mainly due to the corrections in the property prices. However, by Sep’09, owing to the hike in property

prices in last few months, this gap has again begun to widen.

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tween quarterly property price movements and changes in consumer price index for West Pune. Since zone wise inflation data is not


050

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Sep2009

BalewadiHinjewadiAundhPashanBavdhanBanerWakadPimple SaudagarKothrud

West Pune

Statue of Peshwa Bajirao I - The most famous of the nine peshwas

centralPUNE

Major Locations:

Apte Road, Bhosle Nagar, Deccan, Model Colony, Prabhat

Road, Shivajinagar

Central part of Pune houses monuments of historic impor-•

tance like the Shaniwar Wada, the erstwhile home of the

Peshwas and Aga Khan Palace to name a few.

As compared to other regions of Pune, there are no major •

residential developments in this part of Pune.

Over 1.3 million sq ft of commercial space to be added •

in Central Pune by end of 2010. This would generate

around 12000 new employment opportunities in the

central region. Most of this supply is the outcome of re-

development of the existing traditional structures.

Residential Property Rates in prime residential markets of Central Pune

Apte Road, Model Colony

Prabhat Road, Deccan Area

Location

7000

7000-9000


20000

25000-30000


S

S

Outlook

Source: ICICI Property Services*Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.** Rates mentioned are for 3 BHK

ShivajinagarModel ColonyApte RoadLaw College RoadBhosle NagarCity AreaPrabhat RoadKarve Road

Property Price Movement Index: Central Pune


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Outlook Key


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Sep2009

Central Pune (A)Central Pune (R & L)



tween quarterly property price movements and changes in consumer price index for Central Pune. Since zone wise inflation data is not


The above chart reflects that there has been a considerable gap between the actual property prices in Central Pune and the real & logi-

cal prices, which tends to remain constant in the recent quarters as well.

Central Pune

Pune Absorption Index

The residential realty space in Pune experienced continued drop in transactions till January ’09. Since then the market sentiments

seemed to have improved backed by correction in property rates as can be seen in the absorption index chart below. However,

due to the rise in property prices during the last couple of months, the absorption index has dipped from its peak in July ‘09.

Pune Residential Real Estate Absorption Index

140

120

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80

60

40

20

0Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr2008 2008 2008 2008 2008 2008

May Jun Jul Aug Sep2009 2009 2009 2009 20092008 2008 2008 2009 2009 2009 2009

Location Attractiveness Index

From the below comparative study on different locations within Pune, Hinjewadi apparently has an edge over other locations given its poten-

tial for future infrastructure development along-with commercial development which in turn would lead to new employment opportunities.

Key to the Location Attractiveness Index

Infrastructure (connectivity, roads, proximity to markets, schools)

Hinjewadi Viman Nagar /Kharadi

Hadapsar Kalyaninagar Aundh / Baner

Wakad / Pimple Saudagar

Deccan /Kothrud

NIBM /Wanowrie

Residential Cost

Proximity to / Presence of Organised Retail

Proximity to Commercial Development

Future Infrastructure Development

Future Employment Generation

Good / Low Cost Above Average Average / Medium Cost Below Average Bad / High Cost


ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG provides real

estate solutions to home seekers, corporate investors, space occupiers and developers / landlords. ICICI Property Services addresses

the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a specialised group within ICICI

PSG, offers both real estate advisory and consumer demographic analysis backed by both primary & secondary research. The following

chart explains in brief the various services offered by R&C.

research consultancy&

•LocationAnalysis

•MarketAnalysis

•Size,Pricing,PhasingandPositioning

(Space Programming & Demarcation

for Optimum Utilisation of space)

•FinancialAnalysis

Feasibility Studies

•OptimumLandUseAnalysis

•SiteAnalysis&SWOT

•CatchmentAnalysis

•Trade&TenantMix

•LandValuation

Asset Advisory

•EntryStrategy

•PricingStrategy

•CityandRegionPrioritisationand

Expansion Strategy

Strategic Advisory

•SupplyEstimation

•DemandProjections

•ExpectedAbsorptionTrends

•DemographicAnalysis

•ConsumerTrends

•ConsumerBehaviourAnalysis

Market Research

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