The second wave of the COVID-19 pandemic continues to impact the purchase decisions of Indian consumers. Akin to all sectors, the real estate sector too has witnessed pivotal changes over the last one year – be it in terms of digitalised ‘zero-touch’ offerings and services or design overhauls in favour of future-ready, self-contained projects that are both, health and environment-friendly. There is also a growing preference among home buyers for established or organised developers. Consumers are realising the value of home ownership, at a time when extended restrictions seem likely and hybrid work formats are becoming popular.
Until early in 2020, homes were primarily a destination for rest for many, with large parts of our waking hours spent in offices or outdoors. However, long stretches of confinement following the Coronavirus pandemic, have resulted in rising demand for open spaces, gardens, outdoor fitness options and provisions for productive remote working areas in modern residential projects. Home buyers are seeking a feeling of belonging and community. Consequently, urban peripheries and suburbs have acquired newfound appeal, given the relative abundance of space, reduced air pollution levels and better overall quality of life.
Tathawade’s locational advantages
One such residential destination in proximity to the Mumbai-Pune Highway is Tathawade, a noteworthy educational hub in Pimpri-Chinchwad. Tathawade is within the Pimpri Chinchwad Municipal Corporation (PCMC) limits. Planned urban development in PCMC has resulted in a lot of spillover demand towards Tathawade (also from other urban centers of Pune city). Tathawade boasts of hassle-free connectivity to Aundh, an affluent neighbourhood with multiple retail establishments and recreational outlets. Additionally, Akurdi, a residential-cum-industrial area that is home to multiple automobile companies and the upscale neighbourhood of Chinchwad, are both well connected to Tathawade. Moreover, important landmarks like Bhumkar Chowk, Dange Chowk and Wakad are also in close vicinity. In terms of the upcoming infrastructure, Tathawade is conveniently close to the proposed 170-km Pune ring road that will encircle Pune and PCMC and the planned metro station at Hinjewadi junction.
Advantages of investing in Tathawade real estate
In addition to its location advantages, lifestyle and health benefits, there are also potential financial upsides to home ownership in Tathawade. Property prices in Tathawade are still competitive, as compared to core urban areas in Pune. Healthy rental rates are also an attractive proposition. The potential for growth, availability of space for planned development and relatively unpolluted natural environment, make Tathawade a highly coveted destination for residential development by leading developers.
See also: A guide to paying PCMC property tax
The new normal of the work-from-home trend, is expected to contribute to the growing popularity of strategically-located residential hubs like Tathawade (which is in proximity to Hinjewadi, one of India’s leading IT hubs). Tathawade is about 9.5 kms away from Rajiv Gandhi Infotech Park, one of the most significant employment centres in Pune that houses the offices of major IT/ITeS entities.
Tathawade is a 30-minute drive from Pune and is very well-connected to Mumbai by road. At the same time, Tathawade is far away enough from the typical hustle and bustle of the ‘big city’ living, to offer peace and tranquillity that most people crave for. This fast-growing residential hub is unique, as it offers multiple benefits to both, first-time home buyers and property investors.
See also: Posh areas in Pune
(The writer is chief sales officer, Mahindra Lifespace Developers Ltd)