Life Along the Mumbai-Pune Expressway in Kothrud

Till some time ago, Kothrud was a micro market that was less known to most people. But over time, it has emerged as a busy locality. The realty growth in the area has been mainly for its social infrastructure and location which is provided to the residents. The area was known as KothrudBaug previously and is located in the south western part of Pune. It comes under Haveli Taluka and Paud Road and Karve Road pass through this area. Kothrud is only 12kms from the Mumbai-Pune expressway and given the proximity of the area to the expressway, the locality has become popular among buyers.

There has been tremendous growth witnessed in Kothrud in the past 7 to 8 years and it has become a destination much favoured in Pune. The growth pace has been quite rapid and the area’s population has gone up manifold. Almost 90 percent of this area is developed and is now considered to be a densely populated suburb. This micro market is a good mix of affordable housing units and higher end housing areas. Currently, flat for sale in Pune Kothrud costs anything between Rs 9000 to Rs 10000 per square foot. In the year 2004, the rate that was going for properties here was around Rs 1200 to Rs 2000 per square foot. The appreciation of prices over the years has been by 11 percent almost. The rental rate of properties is around Rs 17 for a square foot. Roughly 93 percent of the properties available here are apartments. Most of the projects in this area fall under the Rs 7000 per square foot rate.

Currently, Kothrud is one of the most sought after destinations of Pune for the excellent connectivity offered to different areas of the city along with high social infrastructure. As it is an established location that has stand-alone housing projects along with older bungalows, newer unit supplies have been low in Kothrud in the past couple of years. The availability of limited land for newer developments has made builders redevelop the older bungalows and housing societies. The newer flats that are available mainly belong to the 3 to 4 BHK configuration whose sizes range between 1500 and 2,500 per square foot. The prices are between Rs 9000 and Rs 11,000 per square foot and their prices have gone up by 30 to 35 percent almost in the last 2 years mainly because of supply-demand mismatch.

In the past few years, Kothrud has turned from being an industrial area only to a very prominent end-user housing micro market in Pune. Karve Road and Paud Road make the connectivity from Kothrud good to central areas of the city while the Bangalore-Mumbai highway makes it easy to access the Hinjewadi IT Park from Kothrud.

Infrastructure 
There are many key infrastructure projects that are set to come up in the vicinity of Kothrud. The expansion of Paud Road is one of the infrastructure projects that will greatly impact property prices in this area. The twin lane road shall be widened to a six- lane road by the end of 2016. Companies such as Tech Mahindra, Cummins India, and Cognizant are located near Kothrud. The locality has got good social infrastructure and together with good quality civic infrastructure, Kothrud has become one of the most pursued localities in Pune.

The metro railway project that has been planned shall add to the real estate growth of this area. It is likely that Kothrud shall witness important infrastructural developments in coming future with the RamwadiVanaz section of the Pune Metro Phase I which would pass through Karve Road and Paud Road and have the main depot located at Kothrud. Moreover, the Pune Municipal Corporation has decided to add road tunnels to Kothrud for connecting to Baner, Pashan and Aundh for improving connectivity in these areas and ease traffic congestion. These infrastructural developments that have been proposed alongside the Paud Road widening that has been planned along with the current supply-demand mismatch aims to give promising outlook for housing realty developments in Kothrud.

The area’s social fabric is also one of the engines of growth in this area. Because of quick development in the past few years, Kothrud has a lot of educational institutes, MNCs, hospitals, banks and other companies. The quick development has led to a significant decline in the availability of land for more development. Therefore, a lot of development works have moved to Shivane, Warje and Bavdhan which have benefitted directly from the quick development of Kothrud. The extension of Paud Road from Pirangut and Bavdhan has also shown a lot of development.

Future Growth Prospects and Emerging Areas

Because of the dense growth in this area, localities such as Warje, Shivane and Bavdhan are witnessing rapid growth. Currently, the capital values of residential apartments in Kothrud are between Rs 9000 to Rs 9500 for a square foot but per square foot value is around Rs 5000 to Rs 7000 per square foot in Warje and Bavdhan. Comparatively, Shivane is a newer micro market which is being developed and its capital values are lower at Rs 2500 to Rs 6000 per sq. ft. A lot of the projects in these micro markets have 3, 2 and 1 BHK flat for sale in Pune although the demand for 2BHK flats has been highest here. Because of several factors that include higher demand from end-users, strategic location and overall development etc. Kothrud’s capital values may perhaps increase by almost 12% to 15% in the coming 18 to 24 months.

You can look up different properties in Pune for purchase online. Simply select a locality that you would want to own your property in and the website would show you the appropriate results for it. Buying property in Pune at this time is a good idea because Pune has shown the fastest real estate development and also property prices are increasing quite rapidly. Prior to purchasing property, you should make sure of the builder’s timeliness and delivery of projects along with the facilities on offer.