Pensioner’s paradise, pleasant climate, calm and green surroundings, a tranquil lifestyle… all these monikers were used to describe Pune some 30 years ago. But all that changed when, in 1998, the first foundation was laid for a sprawling IT zone in a small sleepy village on the outskirts of Pune by the name of Hinjewadi.
That IT zone at Hinjewadi played a big role in transforming Pune from a laid back town to a bustling, sprawling city. Hinjewadi itself underwent a significant metamorphosis from a rural community to a hot investment destination. From premium commercial properties to prime residential projects, Hinjewadi has it all. In fact, some of the premium ongoing residential projects in Pune are in and around the lucrative, in-demand location of Hinjewadi.
So what are the factors that have transformed Hinjewadi into the most desirable real estate destination in Pune?
- IT Zone, Revenue & Employment Generator
Hinjewadi is the most popular IT Zone in Pune, strategically located on the NH4 bypass. The Rajiv Gandhi Infotech Park, set on 2800 acres of vast land parcels in Hinjewadi, houses many top-end software companies including Infosys, Wipro, TCS, Cognizant, etc. employing almost 7-8 lakh IT professionals. One of the biggest industrial areas around Pune, and spread across 3 phases, Hinjewadi contributes almost 60 % of Maharashtra’s IT exports and witnessed investments in excess of USD 1 billion last year.
- Excellent Connectivity
The very fact that Hinjewadi was chosen for building an enormous IT zone was its strategic location. Proximity to the Mumbai-Pune highway and then later on the Mumbai Pune Expressway meant that Hinjewadi was always going to be a prime development location.
Apart from the Mumbai Pune corridor, Hinjewadi lies on the Mumbai Bangalore Highway, a part of the Golden Quadrilateral.
The approval of the PMRDA (Pune Metropolitan Regional Development Authority) for a Metro link between Hinjewadi and Shivaji Nagar will mean more connectivity and smoother traffic conditions.
- Strong infrastructure & proximity to city centers
For an area to flourish it needs a strong infrastructure, be it civic or social. Hinjewadi boasts of top-class educational institutes, entertainment & shopping centers, nature trails, sports facilities, healthcare, and public services, all lifestyle requirements for comfortable living. The easy commute (or in some cases even a walk) to the office is another selling point for home buyers looking to purchase residential properties in Hinjewadi. Easy accessibility to the airport, railway station and localities such as Baner, Aundh, Balewadi, and Pimpri-Chinchwad mean that the residents are just a short distance away from the Pune city centers.
- ROI on Property & Rental income appreciation
With Hinjewadi becoming the hot property destination, it is obvious that there has been a high-value appreciation for those who own residential or commercial properties. In the last few years, there has been an increase in demand for residential as well as commercial spaces in Hinjewadi. The biggest advantage is that Hinjewadi offers a choice for all price points, from premium, mid-range to affordable housing where the buyer gets plenty of options as per budget. A lot of integrated townships, residential projects as well as commercial spaces have either come up or are ongoing. The demand has also pushed rental properties with residential and commercial spaces commanding good rental income.
Home buying trends are more towards automated homes with state-of-the-art amenities with preferences among the working professionals being towards 1 BHK and studio apartments. For families, a 2 BHK flat in Pune Hinjewadi is still the foremost choice.
For interested home buyers looking for a premium residential property, Pride Purple Group’s Park Connect offers 2 BHK flats for sale in Hinjewadi Pune. Located near Wakad, Park Connect is a project that is designed to bring ‘The Better Life’ to its residents with top-notch amenities including a jogging track, lap pool, open-air & a/c gym, badminton court, futsal court, yoga deck and much more. Easy connectivity to malls, restaurants & lounges, schools, medical facilities, as well as to prime areas of Baner, Balewadi and the Mumbai-Pune highway make Park Connect the premier choice of home buyers.