Real estate news on Undri is a rapidly growing residential area in Pune

Building materials, New projects, Residential Properties, Pune
Posted on Feb 19, 2013
Undri has always been a promising residential property destination in Pune, but for many years it lacked the required infrastructure. However, as NIBM Road became increasingly saturated, Undri started to come into focus. The demand from the citys manufacturing and IT sectors helped to encourage developers to concentrate more on this area. Locations like Undri are ideal for offering residential options to these segments and at the same de-congesting the main city. The area, which is also temptingly close to Pune Camp, is now developing rapidly while becoming a hotspot for residential property investment.

Kishor Pate, CMD, Amit Enterprises Housing Ltd says, “Undri has the advantage of being well connected to various key localities in Pune via various local and inter-state highways and expressways while retaining its serenity.” He adds, “It has dense green cover protected by Government regulations. Proximity to Wanowrie and NIBM ensures that residents in Undri have access to all necessities for daily living. It is one of the few areas in the more central part of Pune which still offer the citys laid-back natural charm at affordable rates.”

Undri enjoys its status because of its proximity to developed places like NIBM, Wanowrie and M.G Road. The area is a home to some good schools like Delhi Public School (DPS) and Bishop School being the most famous ones among others.

Many good projects have come up recently in Undri. Annura is a residential project for 3, 4 BHK apartments by Kolte Patil Developers Ltd. Amit Enterprises Housing Ltd has five major project launches lined up for 2013, and one of them will be adding to their existing presence at Undri with an affordable housing project and OVO project by Lushlife. Most of these projects are premium housing projects providing the customers high quality housing with all luxury and amenities.

Another major factor for the increase of property in Undri is its closeness to the IT hubs. Undri is just a few kilometers away from Hadapsar, which is coming up as a big IT sector. So the demand for good housing is always on the rise.

Shantanu Mazumder, Branch Head (Pune),Knight Frank India, says “The proximity of Undri to the IT/ITES hubs of Hadapsar, Magarpatta and Kharadi, coupled with the various infrastructure initiatives under the MSRDC – Pune City Integrated Road Development Project, has boosted residential development.” Undri is located eight km from Punes main central business district MG Road and is about six kms from National Highway 48 (Mumbai Pune bypass) thus making the location not only easily accessible but affordable too for the mid-segment group.”

“The catchment comprises mid and relatively high-end projects. Approximately, 50 projects are ongoing in this catchment which comprises locations such as NIBM, Kondhwa, Undri, Mohammadwadi and Pisoli. The catchment has more than a half a dozen premium luxury projects in the range of Rs. 4,800 to Rs.5,500 per sq. ft.,” adds Mazumder.

Rohan Malani, Managing Director, Lushlife says, “We have a project OVO in Undri and it offers 2, 3 and 4 BHK apartments with amenities like home automation with mood lighting, clubhouse, landscape garden and party house, among others. We have two flats per floor facing east and west.”

Speaking about the infrastructure, Malani adds, “The infrastructure needs to be upgraded and internal roads should be improved. Undri has come into corporation limits recently and nowadays developers have come together for construction of roads.”

Being a developing area, there are still some issues which need to be tackled, “Many parts of Undri have water supply issues and therefore government needs to improve the basic necessity in the area,” says Sujay Kalele, CEO, Kolte Patil Developers Ltd.

However all these do not deny the fact that Undri has a very bright future. The residential development is quite promising for Undri as abundant land is available for development. Mazumdar expects that some of the major developments shall be coming up in the near future and since the capital values in the neighbourhood have reached its peak with no room for further development, therefore, Undri shall offer real value for money keeping up with the needs of the mid-income segment of homebuyers.
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