Pirangut property market: An overview

Pirangut is a residential area located in the western suburbs of Pune.

 

The locality was a rural area and agriculture was the mainstay, till the Rajiv Gandhi Infotech Park came up in the neighbouring Hinjewadi area. Later, industrialisation and modernisation led to urbanisation and the locality saw a huge development.

 

Nearby Pirangut localities include many famous areas of the city such as Hinjewadi, Rihe, Tathawade, Wakad, Balewadi, Lavale, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like K Raheja Corp, Majestique Landmark and Mount Vert, who are working on their different projects in Pirangut. Some of the premier projects in Pirangut include K Raheja Corp Viva, Vilas Javdekar Palash Boulevard, Runwal Song of Life County, etc.

 

Due to the advent of various IT majors and other multi-national corporations, Pune has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Pirangut, as it is one of the noted suburbs of Pune. Although prices of the flats in Pirangut are going up at a rapid pace, yet, affordable housing for the mid and the junior-level executives of the various companies, can be found here.

 

The Maharashtra government has also proposed to develop Pirangut and plans for a number of infrastructure projects have been drawn up. Plans have been proposed by the Pune Metropolitan Region Development Authority as well, to develop a metro route between Hinjewadi and Shivaji Nagar. The civic amenities have also improved here. The industrial and IT sector growth, have led to the development of the retail and hospitality sectors, as well.

 

Connectivity with nearby Pirangut localities

• There are a few major roads which run through the area -e., Pirangut Road, Mumbai-Bengaluru Highway, etc.
• The area has an extensive bus service and the Hinjewadi Bus Stand and Pimpri Bus Stand lie in close vicinity.
• There is a railway station at Pimpri from where the railway services can be availed.
• It takes about an hour and 15 minutes from Pirangut to reach the airport in Pune.

 

Employment hubs near Pirangut

• Rajiv Gandhi Infotech Park is located within the radius of 10-14 kilometres from the locality.
• DLF Akruti IT Park is located at a distance of approximately 11 kilometres.
• Panchsheel Tech Park is approximately 17 kilometres away.
• International Tech Park is located approximately 14 kilometres away from the locality.

 

Schools in Pirangut and other social amenities

Pirangut offers very good social infrastructure to its residents. Some of the reputed schools in Pirangut include the Mercedes Benz International School, Blue Ridge Public School, Pawar Public School, etc. Some of the leading hospitals in Pirangut include the Sanjeevani Hospital, Mediplus Speciality Hospital Pvt Ltd, Hinjawadi Hospital, etc. The shopping needs of the residents are catered by malls in Pirangut such as the White Square, Spot 18, City One Mall, etc.

 

Price trends in Pirangut

• Price appreciation—Around 20% in the last one year.
• Current property rates—Rs 2,987-Rs 4,577 per sq ft.

 

Reasons to invest in Pirangut

Considering the price trends in Pirangut and the rising demand, the locality is touted to become a good investment region in future. There are chances of good appreciation of property rates, with a number of projects being developed here. Moreover, the area is located very close to the industrial zones of Pune and IT/ITeS hub. Thus, the demand for real estate here, will only move northward. What more? The Maharashtra government has proposed to develop the area further. So, the scope of development of infrastructure facilities is also good here. Considering all these factors, Pirangut can be an excellent place for investment.

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