In the thriving metropolitan area of Pune, lies Wakad. Wakad is a beautiful locality which is booming in the real estate space. Located in the Pimpri-Chinchwad region in the north-west of Pune City, it is very well connected. It was originally a small village but was acquired in 1983 by the PCMC(Pimpri-Chinchwad Municipal Corporation). The PCMC transformed this area from a small village to a modern residential hotspot with all the infrastructural amenities like proper drainage, water supply, electricity and more

Properties in Wakad have increased manifolds in the past few years. It has been so pronounced that the properties in Wakad have appreciated by a whopping 40% in just two years. It is rightly the new real estate heaven. Established localities like Pimple Saudagar, Theragaon, Balewadi and Hinjewadi are the close neighbors of Wakad and thus it enjoys seamless connectivity with them. Moreover, PCMC has recently maximum permission to building projects, as a result of which the landscape is now being dominated by multi-storey buildings.

Connectivity

Wakad was strategically planned by the PCMC therefore, boasts of a well-planned inter-city Road system. This also ensures that the traffic is well managed and you don’t have to worry about traffic jams every time you step out It is well connected to some of the important roads such as National Highway 4, Kalewadi Main Road, Hinjewadi Road, and Aundh Ravet Road.
Wakad has a lot of options when it comes to private and public transport. It has a good network of PMPML (Pune MahanagaraParivahan Mahamandal Ltd.) buses along with private transport options such as autorickshaws and tam-tams. Since the PMPML buses operate with a very high frequency, they are regarded as the most preferred mode of transportation.
The Pune International Airport can be reached in under an hour from Wakad despite being 20KMs away via the Aundh Ravet Road. The Chinchwad and Pune Railway stations are situated 7km and 16 km, respectively, from Wakad.

Infrastructure

A number of proposed projects will greatly ameliorate the infrastructure of Wakad. The Wakad Road will be widened to a four-lane road from the present two lanes, which will phenomenally decrease the traffic.
To make Wakad a traffic-free zone, a huge number of flyovers have been proposed. A Bus Rapid Transit System has also been proposed which will link Wakad to Nashik Phata.

A lot of interest in the Medical and educational infrastructure has been seen in Wakad. This interest has translated into a lot of development here in these sectors.

Real Estate Due to its proximity to the bubbling IT Hub at Hinjewadi, Wakad has seen a lot of boom in its real estate sector. As more and more people migrate because of employment and education to the nearby areas, Wakad serves as the ideal residential place for them.

Hence, Real estate developers are moving with full speed to cater to the growing demand for houses, offices, and apartment complexes. Due to its planned road network and proximity to the nearby Bio-Tech and Info-Tech hubs, many professionals working in these hubs are now choosing Wakad as their preferred place of residence.

Moreover, the good connectivity and proximity to the Pune-Mumbai highway have resulted in a lot of commercial interest in Wakad. As a result of these, properties in Wakad have reached new heights in terms of prices.

The most in-demand real estate segment in properties in Wakad is the 2-BHK apartments. According to the latest market analysis, if the present trend continues, the property prices can reach up to INR 7500 per sqft.

This rapid escalation in property prices has also resulted in a boom in the property rental market. According to many analysts, an apartment with the area of 1000 sqft can now yield a return of INR 14 per sqft per month, thereby making Wakad the new prime interest for investors.
The current rate of residential plots has been estimated to be around INR 2200 per sqft on average in Wakad.

Hence, Wakad is the new hotbed of real estate and you should not let this opportunity to pass you by for the upcoming properties and the latest deals keep visiting Propbuying.com