Impact of Pune Metro Expansion on Residential Real Estate

Economic growth propels commerce and industrialization. This in turn propels urbanization and increase in population. Cities must accommodate these changes with better infrastructure for better connectivity. Metro rail projects have greatly contributed to the infrastructure development, especially in metro cities and growing cities like Pune. Metro projects have a ripple effect in these cities improving resident lives by providing long-term solutions to serious problems. The expansion of the Pune metro has had noteworthy effects on the Pune real estate market.

This blog discusses these in detail:

1. Enhanced Connectivity

With improved connectivity, mobility amongst many locations is enhanced encouraging builders in Pune to construct new projects. As working professionals, students, and other commuters can move around easily, the quality of life improves boosting the demand for housing in these locations.

2. Accessibility to IT hubs

There are many IT parks in locations like Hinjewadi, Kharadi, Baner-Balewadi etc,. IT professionals working in these locations can commute easily even if they live far. The connectivity of these locations to many hubs has boosted the housing industry as many new projects are coming up.

3. Value Appreciation

It is well known that infrastructure development always hikes up property prices irrespective of the city. As all the locations in Pune get connected improving access the property prices too have increased significantly. 

4. Reduced Traffic

Eased traffic congestion allows easy mobility and reduced stress. The citizens of Pune have benefited greatly from the metros. They do not have to depend on road transport alone relieving them of daily traffic woes and allowing faster movement. 

5. Simultaneous Infrastructure 

The development of metro projects catalyzes the overall development of a region, including roads, public spaces, parks, and social infrastructure. Hospitals, schools, retail zones, and entertainment avenues come up as the metro gets ready to be used by the public. 

Kharadi, Hinjewadi and Baner are some of the key residential areas that will benefit with the expansion of Pune metro. These locations host some of the major IT hubs in Pune and improved connectivity is bound to boost the residential demand and property prices. Professionals seeking a good quality of life in projects with the best facilities and amenities can find their property in Pune at these locations. Investors can rest assured of gaining good rental returns as well as wealth appreciation in their investments. Even commercial real estate investment will give excellent returns thanks to the expansion of metro in these regions.