Kishor Pate, CMD – Amit Enterprises Housing Ltd.
No discussion on Pune’s real estate boom areas is complete without an extensive examination of Ambegaon. This fertile and rapidly developing area is rapidly turning out to be among the most energetic property boom regions in Pune.
More of the city’s home buyers are now opting for properties in areas that offer uncluttered and bracing environment. Ambegaon is one of the most favoured locations in this respect, as offers generous greenery and hilly surroundings as well as excellent connectivity.
Ambegaon has also come into the limelight by emerging as a magnet for home seekers with religious inclinations. The Veeraliyam Temple located in Ambegaon, has by now been drawing worshipers from Pune, Mumbai, Chennai and beyond for over three years. Fully equipped with a ‘Goshala’, ‘Dharmashala’ and ‘Bhojanshala’, this very important Jain temple has a capacity to accommodate 500 visitors at a time and distributes ‘prasadam’ thrice a day. The temple was launched by its trustee Mr. Chhaganlal Gundesha, who donated his personal property for this unique place of worship which, though primarily for Mahaveer Jains, is open for all communities.
Likewise, Ambegaon will soon boast of its very own Swaminarayan temple – again primarily a major worship destination for Jains but an attraction for all religions. This temple will be spread over a massive 27 acres at Narhe, Ambegaon and be a focal point for followers from Gujarat, Mumbai and Pune.
Its development as a religious destination has added a completely new facet to real estate at Ambegaon and is now creating demand for homes across all typologies and budget segments. Yearly appreciation has so far been clocking in at between 20-25%, but with the arrival of these major temples, Ambegaon has now become an investment hotspot that will have few precedents in Pune over the next five years.
Historically, the real estate market in Pune is eminently suited for diversified offerings in a single location, and the areas that work best are those that offer buyers multiple options in terms of configurations, sizes, budgets and positioning.
Investors are increasingly attracted to the rapid growth of property rates in Ambegaon, which are fuelled both by its own inherent market drivers and the rapid development of areas like Sinhagad Road, Bavdhan, Wagholi, Bhugaon and Undri. These locations have been catering to the next wave of information technology-driven demand for homes and have appreciated considerably. Ambegaon already benefits from closeness to the Mumbai-Bangalore Bypass and NBN Sinhagad Technical Institute.
Also, Ambegaon is still the area of choice when it comes to natural ambiance, freedom from traffic congestion and pollution. This is an important factor for a real estate location, since green scenery and unspoiled surroundings attract demand for homes from all income segments. For all these reasons, Ambegaon has pulled ahead of most neighbouring locations and is attracting demand for ownership homes and investment properties from both within and outside the city.