Pune is an academic and employment destination for people from across the world. And Hinjewadi stands out as the IT hub in the city. From small to big there is hardly any company in IT and IT-es (having presence in India) that doesn’t have an office here. The presence of immense job opportunities has led to spiraling property rates in Hinjewadi. There is no dearth of flats in Hinjewadi: small to big affordable to premium, there is something for everyone.
The rising demand for residential projects in Hinjewadi is driven by the people working in the area. The Hinjewadi IT park area houses IT firms in three phases. These people form a large base of potential property seekers, who would like to stay close to their workplace. After long hours at work, no one likes to travel far to be with family, you would want to keep travel to a minimum. Given this opportunity, every developer has a project here. While the homes may be a tad more expensive than other Pune suburbs, people prefer being here as their travel time for office is considerably cut-down.
This increasing demand for homes has led to a steep growth in Hinjewadi property rates too. The properties in and around Hinjewadi are quite expensive for end-users and investors, This suburb is driven by Pune’s burgeoning IT/ITeS sector, which has proved to be the single-largest booster for residential and commercial real estate in the city. Prices vary, depending upon the brand of the developer, the location of the property, amenities offered to the home buyers, etc.
Investors looking to earn rental income can also expect a good monthly inflow, given that the location offers a tenant the benefit of sound social and physical infrastructure, such as access to leisure hangouts, restaurants, shopping malls, and connectivity to other strategic locations. Hinjewadi has a well-developed social infrastructure that makes the place even more alluring for homebuyers. In the coming years, the rentals and the property rates will only go upwards which invests in real estate at this time extremely beneficial.
Hinjewadi has become a magnet for home buyers in Pune and the Pune Metro will boost infrastructure in the area.
Connectivity is a critical factor when deciding where your home should be. Without adequate and multiple modes of transportation, staying there would be extremely inconvenient. Whether you own a business or you’re an employee of an organizatwhreion, you need to get to your office in time.
It has been observed in a study that an average of 83% of overall traffic in Hinjewadi is comprised of two and four-wheelers of the staff working at Hinjewadi offices with only 5% using public transport. During peak hours, there are traffic jams and congestion. Hinjewadi awaits the commencement of the Pune Metro Rail project, which proposes to begin its operation by March 2023. Metro trains offer excellent connectivity, cities like Delhi, Chennai, and Mumbai are live examples of the ease that metro connectivity brings to a place.
The Pune Metro Rail project is a 23.3-km stretch that will link Hinjewadi to Shivajinagar (third phase). Nicknamed Puneri Metro, this line was approved by Mahrashtra’s state government on February 9, 2018, and could serve as a boon for residents. The metro rail could also improve the work-life balance for professionals in Hinjewadi.
The Metro will also ease traveling to other localities or cities for work, house chores, or even entertainment. So, if you are living in Hinjewadi and decide to change your job, you may use the metro to save time.
Hinjewadi enjoys unique advantages compared to other suburbs when it comes to buying a home. It has smooth access to the Pune-Mumbai Expressway which is the main exit route for most weekend getaways from the city. With metro connectivity, travel will be seamless for Punekars. If you wish to buy a flat in Hinjewadi, this is the time to book your space.