4 Pune Localities That Are Favourite Among HNIs

According to the Kotak Wealth Report 2016, Pune is going to be one of the cities that will hold a huge number of high net-worth individuals (HNIs) other than top four metro cities. IT companies and startups have largely contributed to this population of Ultra HNIs who are either at a very senior position or have started their own venture in the city. Apart from this, the investor-friendly approach of the government in this city has given a further boost to businesses to enter the startup eco-system. In fact, in times to come, the population of ultra HNIs is only going to increase where the share of Pune city will be more due to the rise of successful startups from the bootstrapped ones, according to an estimation.

 

While real estate investment has been one of the favourite ball game for HNIs, there are few localities in Pune which has been an attractive proposition for them for investment as well as for self-use purpose. Not just branded names, these properties are associated with high price tags and appealing returns.

 

 

Being the most expensive and premium neighbourhood of Pune, Koregaon Park is on the top of the list when it comes to the investment of the riches. Though the majority of the properties listed here for sale are in the secondary market as there are very few newly constructed projects in the area due to lack of open land, pocket-full investors still find this area tempting enough to invest. Properties are available here at a starting cost of Rs 15,000 per sq ft. However, the properties available here are of big sizes, mainly 3BHK, 4BHK which makes the overall cost of properties higher than Rs 5 crore

 

 

 

Aundh is one of the suburbs of Pune where residential development has reached a saturation point. Its proximity to IT corridor, cosmopolitan culture, hangout points have made it a popular outing spot and living area for the rich and the affluent class. There are many new projects coming up from the reputed developers of the city which have been a huge hit amongst investors. High-end engineering, well-built complexes, and smart security systems have made Aundh a favourite destination for those ultra-rich buyers who like to stay in the safe luxury with proximity to the nightlife. What makes it more appealing for the investors is the fact that Pune Municipal Corporation is going to develop 1,000 acres in Aundh-Baner- Balewadi area as smart city pilot project where smart designing concepts will be used. Currently, the property prices here are starting at Rs 8,500 per sq ft. Prices have increased by seven per cent in the last four years.

 

 

As residential development in Aundh saturated, Baner started developing faster than the former. While the rich looked for a classy address to stay with a view and quality properties, Baner offered them with everything to make a resident's life easier. While the congestion in Aundh went up because of the nearby crowd from IT parks, now Baner has, even more, quality restaurants, brands and a better lifestyle to offer than Aundh. Currently, the property prices here are in the range of Rs 5,000-8,000 per sq ft. However, as the ticket sizes of flats available in Baner are 3BHK, 4BHK with sizes ranging from 1,200-4,000 sq ft, the minimum cost of buying a home here is Rs 2 crore.   

 

 

The most talked about Trump Tower that gathered huge attention from the rich and the famous is another attraction for the traditionally as well as novae rich people. As some of the Bollywood celebrities already have invested in this building, the address has become more special among the wealthy ones for investment.  The property prices here ranges from Rs 14,000 onwards. Though the area is considered as one of the luxury hotspots of Pune, the congested roads around Kalyani Nagar have made it less appealing for those who like to stay away from the hustle bustle of the city. For the ultra-rich, other than Trump tower, there are many other luxury projects offering smart homes at similar rates. Several rich investors from Mumbai prefer to own a second home in Pune to use it as a vacation home during holidays.