Corridor of growthCorridor Description and Rating

B A N E R - P I M P L E S A U D A G A R

Areas Included: Baner, Balewadi, Pimple Nilakh and Pimple Saudagar

Fig 1: Map of the corridor

Corridor of growth (COG)02

Properties available in the corridor

The localities in the corridor are established residential hubs and hence, the average price level is on the higher

side. Substantial amount of supply is in the Rs 60 lakh to Rs 1 crore price bracket. The

Rs 60-80 lakh and Rs 80 lakh-Rs 1 crore brackets have 34% and 22% share of the supply. The Rs 1 crore and above segment cumulatively forms the balance 11% supply. In the Rs 60-80 lakh price bracket, supply is

concentrated more towards the higher end (Rs 70 lakh+) of the range. Though Baner is the most expensive locality, the price variation amongst the localities is not much; price level in other localities is lesser by only 4%-6%

About the CorridorIntroduction: The Baner-Balewadi Corridor consists of localities which evolved as the development pushed westwards from established areas like Shivajinagar and Aundh. Baner Road and Aundh-Ravet Road were the natural growth directions. Baner Road connects to the Pune-Mumbai Highway at Balewadi while the Aundh-Wakad Road takes off towards the west and connects with the highway. While Baner and Balewadi fall under the Pune Municipal Corporation (PMC) limits, Pimple Saudagar and Pimple Nilakh fall under the Pimpri-Chinchwad Municipal Corporation (PCMC) limits. The Mula River separates Baner-Balewadi from Pimple Nilakh-Pimple Saudagar.

Baner, Pimple Saudagar and Pimple Nilakh have already seen considerable development activity. This development has not moved further west to other localities in the corridor like Balewadi and to other areas outside the corridor.

All the localities have evolved considerably and sport good support infrastructure. This is

reflective in their price levels as well which is at least 12%-18% higher than in areas to the west.

Infrastructure: The corridor is well evolved in terms of both physical and support infrastructure. Baner Road, Nashik-Phata Road and Aundh-Ravet Road have retail and commercial establishments. In terms of physical infrastructure, areas falling under PCMC have some infrastructure issues as many schemes as per the Development Plan (DP) have not been implemented. These include new roads or widening of existing roads, creation of parks and open spaces and allotment of land for schools or hospitals. As per one report, only 40% of work envisaged in the DP has been completed.

Smart City Initiative: A major part of this corridor will benefit from the Smart City project. Under the Smart City program, PMC has selected Aundh, Baner and parts of Balewadi for area-based development. PMC will re-develop the 1000-acre spread across these localities. The program calls for

investment of Rs 2,200 crore over a five year period to improve the civic infrastructure in this area. This involves better transport facilities to increase use of public transport, more open spaces, better water distribution and water management program, promoting the walk-to-work culture and increasing employment in the zone from 10,000 to 45,000. Investment and infrastructure upgrade under this project will greatly enhance the liveability index of Baner and Balewadi in the corridor. This improved infrastructure will have a positive impact on other localities as well such as Pimple Saudagar and Pimple Gaurav.

Outlook: The outlook of the corrdior is quite satisfactory as there is improved infrastrusture.Localities in the corridor will continue to attract demand from buyers looking for options in established areas with good connectivity to both the City Center as well as IT/ITES offices in Hinjewadi. The price level is already high and unlikely to see any major increment in the medium term.

Overall Connectivity Social Infrastructure Security/Water

Fig 2: Distribution of properties by price Fig 3: Distribution of properties by delivery status Fig 4: Distribution of properties by bedroom configuration

Corridor of growth (COG)03

Both Baner and Pimple Saudagar have a high share of consumer preference when it comes to rental demand. Pimple

Saudagar leads by a 6% margin because it

is a more centrally located area within the larger city. It provides connectivity to localities along all directions especially those falling within the PCMC limits. Baner is an equally

evolved locality with connectivity to Hinjewadi in the west and core Pune city towards the south-east. Both localities have good support infrastructure for the resident population.

Sales Price Covered Area ( Lacs) (Sq.ft)

1 BHK 30-55 550-700

2 BHK 45-120 950-1250

3 BHK 70-250 1300-2500

4 BHK and Above 100-500 1800-4000

Best sectors to invest in a home Based on rental demand in sectors

Table 1: Sizes and prices of flats available for various room configurations

Based on home buying demand in sectors

Fig 5: Top localities by consumer for renting a house

Fig 6: Top localities by consumer for buying a house

margin. Supply in Baner is spread across a large budget range from Rs 40-60 lakh to Rs 1 crore and above. In case of Balewadi, with second highest share of supply, 61% is concentrated in the Rs 60 lakh-Rs 1 crore price bracket.

Not surprisingly, given the expensive nature of the locality, 2BHK is the most preferred

format followed by the 3BHK format. Almost 60% 2BHK units are of 850-1300 sq ft range while 41% 3BHK units are of 1250-2800 sq ft size. The corridor offers maximum options in the ready-to-move-in category across projects which have been recently completed and delivered some time back and have now come into the market for re-sale.

Best bedroom configurations to buy Preferred buying and renting options

Buying Renting Total (BHKs) Total (BHKs)

1 BHK 5% 16%

2 BHK 49% 52%

3 BHK 36% 29%

4 BHK and Above 10% 3%

Table 2: Demand distribution for buying and renting

In terms of consumer demand for home purchase, Baner is the most preferred locality in the corridor followed by Pimple

Saudagar. One reason for this change can be

the fact that Baner offers options across a wide budget range. In case of Pimple Saudagar, 86% properties are spread across Rs 40 lakh to Rs 1 crore price bracket. While in case of

Baner, 86% properties are spread across the Rs 20 lakh to Rs 2 crore range. Baner offers wider variety of choices to a consumer and investors are also interested to buy a property here.

Consumers prefer the 2BHK format in the corridor. About 49% consumers are looking for 2BHK units in the Rs

60-80 lakh bracket. In this corridor, the most preferred configurations is the 2BHK units. The demand distribution for buying and renting is also in the 2BHK category. The 3BHK is the second most preferred format but the demand

for it is spread across a wide budget range. Bulk (36%) of it is in the Rs 80 lakh-Rs 1 crore segment. The 3BHK also has the distribution of demand for renting. But, there is limited options for buying and renting in the 1BHK and 4BHK category.

Price changes and future prospects Historic Price movement

6 monthly change Yearly change

1% 3%

Table 3: Historical Price changes

Localities in Baner-Pimple Saudagar corridor are well established residential hubs with Baner also having office space

presence.

The average rate in the corridor is close to Rs 7,000 per sq ft. At these price levels, the rate of price change is expected to be low and some points more than general inflation level. However, the current market condition itself is slow with unit sales being slow.

This has further impacted the market and the price increment has been low. The price change over last one year has been only 3%. It is expected that this situation will improve marginally. But large price increment should not be expected.

Fig 7: Historical Price changes of corridor

Corridor of growth (COG)04

Corridor Average Price Rs/sqft

Price movement for top localities by Consumer Preference

The quarterly price change in each of the localities in the corridor reflects the overall scenario in the corridor. The price change has happened over a narrow range from +2% to -2% with average

increment being 1%. Both localities along the Baner road (Baner and Balewadi) have seen a price drop while other two contiguous localities have seen price increment.

The quarterly price trend in Baner and Balewadi has either seen marginal increase or been stagnant. Drop in this quarter is likely to be temporary price adjustment. Similarly, in case of Pimple Nilakh and Pimple Saudagar, the price trend is in line with prior quarterly price movement. The marginal movement in prices is likely to persist in medium term.Fig 8: Price changes in top localities by consumer demand

Corridor of growth (COG)05

Infrastructure UpdatesSmart City Project

Under the Smart City program, PMC has selected Aundh, Baner and parts of Balewadi for area based development and growth. PMC will re-develop the 1000-acre spread across these localities. The program calls for

investment of Rs 2,200 crore over a five year period, which will help in the growth of the corridor.

BRTS Corridor

Sangvi to Kiwale BRTS corridor has become

operational. This improves the north-south connectivity in the corridor. The Wakad-Nashik Phata BRTS is under construction and likely to become operational by 2016-17. This will improve connectivity between localities in the corridor to Wakad and Hinjewadi.

Pune’s Pimple Nilakh offers premium properties

Pimple Nilakh is one of the most premium localities situated in the Western side of Pune. Due to its proximity to Aundh, the locality is often called as the ‘New Aundh’. In this locality, the flats or apartments are the most preferred property type. In terms of connectivity, Pimple Nilakh offers easy access to the Mumbai-Pune Expressway and has moderate traffic. In fact, the area is well-connected to the other locations to the city, such as Wakad, Hinjewadi, Baner, Aundh, and Pimple Saudagar.

n Source: Magicbricks Bureau

Pune’s Baner Road is attracting home buyers

There is a potential opportunity in offer for home buyers in Pune’s Baner Road. The area has multiple housing demand drivers that include serenity of location, presence of good social infrastructure, and proximity to the Pune-Mumbai Expressway. The most thriving

IT hub Hinjewadi, and great accessibility to central Pune also helps to boost the housing demand on Baner Road. Buyers can expect new-age amenities in many projects that are being constructed in this locality, which can also a good options for home buyers.

n Source: Magicbricks Bureau

Pimple Saudagar investors rejoice price appreciation

Pimple Saudagar in Pimpri-Chinchwad has emerged to be one of the preferred residential localities. It is strategic location between Baner and Aundh and it is close proximity to the Rajiv Gandhi InfoTech Park located at Hinjewadi increases its demand amongst the IT professionals. Apart from buying, the professionals working nearby are also pushing up the demand for rented accommodation. he Pune International Airport is situated at a distance of 22 km which is easily accessible from the Aundh-Ravet Road.

n Source: Magicbricks Bureau

IN NEWS

Master PlanBaner and Balewadi fall under the PMC limits while Pimple Saudagar and Pimple Nilakh fall under the PCMC limits. Mahalunge to the

west of Balewadi and across the Pune-Mumbai Highway is one of the 34 villages which have been proposed to be merged with PMC. Most

of the land area under Balewadi and Baner has been earmarked as a residential zone.

MOST POPULAR PROJECT in Baner - Pimple Saudagarhttp://magicbricks.com/investment-hotspots/pune/baner-pimple-saudagar/

KEY DEVELOPERS in Baner - Pimple Saudagarhttp://magicbricks.com/investment-hotspots/pune/baner-pimple-saudagar/

PROJECT SUMMARY BY POSSESSION STATUS in Baner - Pimple Saudagarhttp://magicbricks.com/investment-hotspots/pune/baner-pimple-saudagar/

PROJECT SUMMARY BY BUDGET in Baner - Pimple Saudagarhttp://magicbricks.com/investment-hotspots/pune/baner-pimple-saudagar/

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D I S C L A I M E R

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