Apartments in Mundhwa, Kharadi, Kondhwa and other areas are in great demand by investors and buyers in Mumbai. That is interesting to note, especially when Mumbai is a few hours away from Pune. The perennial space crunch and sky rocketing property prices have compelled the middle income group to settle in Mumbai's fringe areas. That is also making them think of an option of buying property in Pune.
On the flip-side, Pune still offers a wide array of residences suiting all income groups. That is why perhaps Pune has survived challenges of economic meltdown. Also, among the key locations in the city, Kharadi, Kalyani Nagar, Koregaon Park and other elite neighbourhoods have attracted the investors. Further, city's identity as an automotive and IT hub along with a good socio cultural environment combined with pleasant weather also attracts buyers and investors.
It is true that there has been a slow down in the property sales in the city, but the fact is that city's real estate market has been sustaining a growth graph. And probably this is the reason that the price correction won't take place in Pune real estate market. Meanwhile, luxury housing is also fast catching the fancy of the higher income group buyers. That is giving a boost to the market as well.
An example of such a luxurious project is Eastern Ranges, a project by Phadnis Group offering penthouses and plush 2, 3 & 4 BHK apartments in Mundhwa, Keshavnagar near Kharadi. Being located in Mundhwa, close to Kharadi, Koregaon Park, Kalyani Nagar, Camp and other commercial, financial and entertainment hubs, Eastern Ranges presents an opportunity of owning a nature friendly residence in a premium location.
Apartments in Mundhwa, like Eastern Ranges and the likes and in other area like Kondhwa, NIBM, Undri, Hadapsar, etc are in vogue. That is because Pune's core areas are saturated, outskirts of the city are sought. This ensures that the investment in property in the city is extremely attractive and situation if not upbeat, is definitely not disheartening.