Amidst Realty Gloom, Koregaon Park Shines with 15 % Price Rise in 2015
Just when you thought that the real estate market was not as profitable as it used to be earlier, then think twice. Because Koregaon Park in Pune defied all odds to emerge as one of the prominent localities in the city that saw over 15 per cent price appreciation in a span of just one year, as per the CommonFloor annual report – “Pune Real Estate in 2015.” And considering the gloom surrounding the overall realty market in recent years, this was a good return on investment for all those who had parked their hard earned money in this IT/ITeS hotspot. So, what are the factors responsible for growth at Koregaon Park? Despite being one of the most expensive real estate destinations in Pune, Koregaon Park continued to show upward realty trends in 2015. Touted to be a swanky area in the city, the locality is dotted with a mix of residential, office and retail establishments. Its proximity
to Kalyani Nagar, one of Pune’s prime IT/ITeS hub, has done much to keep the demand high here. Realty Trends at Koregaon Park The average monthly rentals for a standard 2BHK of size 1000 sq. ft. area is anywhere between Rs 18,000 to Rs 25,000. As for the capital values prevailing in the locality, the average prices ranged anywhere between Rs 10,900 to Rs 14,500 per sq. ft. As per CommonFloor Real Insights, Koregaon Park saw very few launches in 2015 but there were ample options available in the secondary market. In terms of BHK configurations available in the secondary market, the area saw maximum availability of 3BHKs (almost 35 per cent), followed by 2BHKs with 29 per cent and 4 BHKs with 18 per cent supply. However, on the downside, traffic congestion and insufficient parking is causing a problem in this locality. Source: CommonFloor.com For Latest Updates on Real Estate Updates, Property News and Cities Infrastructure Developments Visit: http://www.commonfloor.com/guide
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