Situated on the eastern side of Pune,
Magarpatta is close to the Kharadi EON IT Park,
Kalyani Nagar, Koregaon Park,
Fatimanagar and the Hadapsar Industrial Estate. Crossing North Main Road towards
Koregaon Park annexe approaching
Mundhwa Road is the point of the most talked-about new D.P. road that will connect
Koregaon Park to Magarpatta.
This road, from the northwest region of
Magarpatta City and touching the Botanical Gardens, will virtually make the
Koregaon Park area one of its closest neighbourhood locations from
Magarpatta. This connecting route from
Magarpatta to Koregaon Park will fuel the
development of residential projects, as it provides a vast improvement
in commuting towards the CBD (Central Business District).
The entire
Magarpatta and Amanora belt is lined with
beautiful housing complexes, state-of-art projects, commercial
developments and an array of shopping outlets, giving a glimpse of one
of Pune’s most hip-and-happening
areas. The rate of development in and around the Magarpatta
belt in terms of residential, retail and commercial real estate has
been significant over the past two years.
The ready infrastructure such
as schools, hospitals, offices
and IT hubs and the array of available entertainment options at
Amanora Town Centre andMagarpatta complement the growth of residential property buying in and around the area, says Pravin Mahurkar, Head (Pune) - Residential Services, Jones Lang LaSalle India.
From
the standpoint of residential development, the area at present
comprises
of major developers offering quality and affordable housing options.
End users and investors in the budget housing right up to the super
luxury and premium housing segments have a tempting bouquet of options.
The tentative price range in the area begins at
Rs. 4500/sq.ft and goes up to a whopping Rs. 14000/sq.ft.
The presence of some premium developers who are creating customized luxurious
residential projects has changed the entire lifestyle housing ethos in the
Magarpatta belt. Big players such as Panchshil,
Marvel Realtors, Kumar Properties and VTP Group (Urban Homes) are well
established in this area. Projects such as One North and
Yo! Pune by Panchshil and Diva and Ritz by Marvel,
Amanora Town and Magarpatta City are just a few currently present there.
There are numerous upcoming developments such as Urban Balance by VTP Group
(Urban Homes), Privie Sienna by Kumar Properties, Bounty and Arco by Marvel Realtors and
Ela by Vascon. The housing development along other parameters will have a great impact due to the connectivity from
Koregaon Park to Magarpatta. It will not only ease commuting and save time but also benefit the overall development of
Hadapsar and the adjoining areas.
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