Balewadi, adjacent to Baner Road, in Pune, is becoming a preferred destination for investment for both Investors and End-users. The Commonwealth Youth Games of 2008 made Balewadi a popular location. The games pushed the infrastructure activities in these areas and since then the developers got an opportunity to bring out their projects in this area.
According to Devesh Mehta of Fortune International Estates Consultants, “The area is particularly attractive to people working in the nearby IT hub of Hinjewadi and looking for a residential accommodation near the workplace”. Due to its close proximity to the Mumbai–Pune Expressway, this locality is mainly a growing choice for home buyers. Also, the Katraj- Dehu Road corridor passes through Balewadi. The area is also connected to the Mumbai-Bangalore Highway. It has good accessibility through road network to other locations of Pune. Balewadi is approximately 20 km from the Pune Airport and 10 km from the railway station.
Another reason for the investors and end-users to invest in Balewadi is its affordable price. The prevailing property rates of Balewadi are in the range of Rs 4,500-5,500 per sq ft, whereas the neighbouring localities, such as Baner, offer properties over Rs 6,000 per sq ft. So, Balewadi becomes the nearest and affordable choice for those looking for residential space in Baner but cannot afford it.
The social infrastructure in Balewadi is also attracting the investors and end-users. As Balewadi is located close to Baner and Aundh, the necessary social infrastructure is available in the area. Numerous banks, schools, restaurants and retail stores have emerged, drawn by an increasingly up-market population.
There are many new projects coming up in the locality at different stages of completion which are going to be delivered by the end of 2013 or by early 2014. Some of the few projects coming up in this locality are Marvel Cascada by Marvel Realtors, Madhuban by Kakkad Developments, Kaizen by Smile Housing, Vasudha Parnika and Sai Eshanya by Manikchand Vasudha Developers, Shreemant Ganray Krupa by Ganrraj Associates.
Source: The Times of India