“Close proximity to Hinjewadi, PMRDA and PCMC Jurisdiction, Comparatively lower real estate prices, Smart City Infrastructure Developments, Upcoming IT Park, the new hyperloop project, etc make Wakad the right choice for living and for real estate investment.”
Where is Wakad in PUNE?
The first reason to consider Wakad for real estate investment in Pune is, Wakad’s close proximity to Pune, Pimpri-Chinchwad, Hinjewadi and other upcoming suburbs. Wakad is located in the North-western region of the Pune City. It comes in the jurisdiction of Pimpri-Chinchwad Municipal Corporation, one of the richest municipal corporations in India. Wakad is strategically located at the border of Pune and Pimpri-Chinchwad. Wakad is on the eastern side of the Pune – Mumbai express way which places it in the vicinity of the real estate and IT areas like Hinjewadi (western side of the express-way), Balewadi, Pimple Saudagar, Pimple Nilakh Baner and Aundh. As the news suggest, Wakad is one of the fastest developing suburbs in India’s.
New Developments in Wakad
Wakad has just not been promised future developments but the funds have been allotted to these projects and the work has already begun. Here are some of the developments planned for Wakad that makes it ideal to invest in Wakad.
Infrastructure Development Projects in Wakad
One of the reasons to consider of investing in Wakad is the quantum of infrastructure projects going on in Wakad. Once these projects are complete life is going to be even more smarter in Wakad.
The New Pune-Mumbai Hyperloop
According to the TribuneIndia news, the ambitious Pune-Mumbai Hyperloop is nearing realization. The Govt of Maharashtra has made a major announcement of categorizing the hyperloop project as an Infra Project. The hyperloop project is estimated to be completed by 2023 which could cut down the Pune-Mumbai traveling time to just 25 minutes. The best part is that Wakad is going to be the eastern end of the hyperloop project.
Smart City Developments in Wakad
According to the IndiaTimes.com news, Rs 344 crores have been sanctioned to develop “Smart Roads” connecting Wakad, Pimple Gurav and Pimple Saudagar. The smart roads will feature facilities like wider roads, pedestrian pathways, LED street-lights, storm water drains, street landscaping etc. There is also a talk in the town that Wakad is also going to be developed on the terms of smart City along with Pimple Saudagar and Pimple Gurav. Fairly the same way as they have done in Aundh, Pune.
Hinjewadi Mahalunge Road
There are also positive developments happening on the Hinjewadi Mahalunge Road that will ease the traffic in Wakad. This is particularly benefit the IT employees commuting between Hinjewadi and Wakad.
Linear Garden in Wakad
As part of the smart city developments, a Linear Garden has been approved for the Wakad-Pimple Gurav road at the cost of 16 crores. Once complete, the garden would be first of its kind in Pune city. Facilities like these are going to make living in Wakad more pleasurable and would be wise decision to invest in Wakad.
Palika Bazaar in West Pune
Under the Pimpri-Chicnchwad Smart City initiative, a Palika Bazar like underground market is under consideration in Pimple Saudagar near Wakad. The underground shopping center is going to have 55 shops each of 275 sq.ft. The shopping complex will have all the modern amenities like escalators and landscape garden with seating.
Wakad has been included in the Hinjewadi-Shivajinagar route of the Pune Metro Project. This will make it way easier for Wakad residents to commute to the interior locations of the Pune city in less than 20 minutes, which otherwise takes more than an hour.
Wakad’s Infrastructure and Residential/commercial developments fall in the jurisdiction of PMRDA whose vision is to develop Pune Metro Region as international investment destination. PMRDA jurisdiction imply proper, systematic and quicker implementation of infrastructure and public service projects in Wakad, making it ideal for real estate investment.
RERA Real Estate Projects
Most housing projects going on in the Wakad area are regulated by the RERA Act which makes sure you get everything you are promised and that too most importantly “in time”. This has an added advantage if you are planning to invest in Wakad real estate.
Flats are Cheaper in Wakad
Flats in Wakad are cheaper as compared to surrounding areas of west/north-west region of Pune city. For example an average flat price in Pimple Saudagar is 75 to 85 lakh, Baner is 90 too 100 lakh while the average 2 bhk flat price in Wakad is between 70 to 80 lakh. This means there is good potential for property price appreciation and shows an upward trend.
The Investment Thumb-RuleInvesting in Wakad is in harmony with the real estate investment rules.
- Wakad locality has good rating of 4.8/5 at MagicBricks.com and Makaan.com real estate portals.
- Wakad is located close to Hinjewadi IT Park. This means it has high rental potential.
- Development is in full swing in and around Wakad area. 5 years down the line Wakad would be the most developed suburb around Pune.
- The price trend of real estate property in Wakad has a POSITIVE/UPWARD trend. That means you can expect good appreciation of the value of your real estate property.
- Given the presence of so many IT companies in and around, you can also rent out your property to companies as “Guest House” earning more rent for your flat.
The above mentioned factors makes it imperative to invest in Wakad Real Estate. But “where to invest in Wakad?” – Yashwin Encore by Vilas Javadekar is the preferred real estate project for investment in Wakad. Vilas Javdekar is a renowned property developer in Pune and has several projects in the Wakad area. Loaded with 45 Amenities Yashwin Encore is a RERA certified residential real estate project which is packed with plethora of urban amenities that make it ideal for living.