With increasing IT companies and developing infrastructure, the real estate market of Pune is witnessing a huge jump from past many years. Many new localities have emerged which are offering a lucrative option to homebuyers for residential investment. Among all the localities NIBM Road is emerging as a popular option among homebuyers, investors as well as tenant community.
A rapidly developing suburb, NIBM Road enjoys seamless connectivity to other plush areas of Pune like Magarpatta, Kondhwa Hadapsar, and Kalyani Nagar. The locality is just 20.9 km away from the Pune Airport and is surrounded by excellent road connectivity. The nearest railway station is Pune station which falls at a distance of 9 km. Other surrounding localities include Mohammadwadi, Undri, Pisoli, and Katraj.
Due to its proximity to major areas, NIBM Road is home to a plethora of Infrastructural development that makes this area a favourable market to invest. National Institute of Banking Management and Ramtekdi Industrial Area are in close proximity to this locality. Apart from this, NIBM road is also surrounded by many IT companies and MNCs along with Pune IT Park, Teerth Technospace, and The Cerebrum IT Park.
Because of its proximity to major IT Parks, the working professionals love to buy their dream home here. Also, with fast pace growth and the presence of leading companies, many renowned developers are moving towards this region to construct housing projects here. Some of them include K Raheja, Kolte Patil, Archana developers, Nyati, Marvel, etc.
The current average property price on NIBM Road is Rs 6,365 per sqft. While, a 1 BHK starts Rs 35 lakh onwards, a 2 BHK comes with a price tag of Rs 55 lakhs onwards. One can also invest in luxury units as well as villas. Proximity to IT companies makes this locality favourable among the Tenant Community. So, if anyone wants to earn good rental income, then the locality is best for investment. At present, the rent on NIBM road hovers from 11,000 to 20,000. A 2BHK is quite favourable among families who want to live on rent.
According to expert, with fast pace development, the property prices on NIBM Road will definitely jump in coming future. So, investing here can give lots of benefits to homebuyers as well as investors.