Homing In On Affordable Housing In Shikrapur..!
By
Mr. Sachin Agarwal, CMD - Maple Shelters
Pune's
rapid growth as a city is constantly pushing the envelope for real estate
development. Suburbs that were considered 'upcoming' less than two years ago
are now established destinations, with increased property price appreciation
creating a challenge for budget home seekers. One of the latest entrants of hot
new budget homes destinations, Shikrapur in East Pune is one of the few areas
that still offer affordability along with good connectivity.
In
the past, Pune's eastern corridor along the Nagar road delivered many new
locations that became hotbeds of real estate development activity within very
short periods. Like Shikrapur, Kharadi and Wagholi were seen as little more
than remote industrial regions. Today, these areas have undergone a massive image
makeover because of the frenetic economic development along the Nagar Road
belt. After the rapid saturation and price escalation seen at Wagholi,
affordable home buyers have now turned their sights and hopes on nearby
Shikrapur.
Projecting
no more than five years into the future, we can see Shikrapur's real estate
market seeing the kind of price escalations that have already placed Wagholi
beyond the reach of the lower income groups. Land prices will rise, available
land parcels will decrease and we will witness the birth of yet another
middle-class housing destination with flats costing Rs. 35-50 lakh and above.
However, as of today, Shikrapur still offers scope for affordable housing to
meet the requirements of its blue-collar industrial workforce.
 |
| Sachin Agarwal, Maple Shelters |
Demand
for homes in Shikrapur is primarily driven by the city’s blue collared
workforce employed in the Shikrapur-Chakan industrial belt. However, Shikrapur
is also located just 20 minutes away from Kharadi, and close to the Pune
Airport and Nagar Road's rapidly expanding retail operations. In addition to
the demand from industrial workers, Shikrapur is also a location of natural
choice for modestly-salaried people employed at the airport and the various
malls along Nagar Road.
So
far, the growing demand for affordable homes in Shikrapur has largely been
addressed by small one-off projects with limited facilities and modern
amenities. However, with the entry of Maple Shelters and its affordable housing
township Auracity, the demand for budget homes in Shikrapur has seen a quantum
shift. This township under Maple Shelters' popular Aapla Ghar scheme and is now
going into its second phase and provides low-income home buyers the option of
modern features.
As
a result, home buyers looking at Shikrapur with modest budgets are not deprived
of a comfortable, contemporary and secure lifestyle. Maple Shelters' Auracity
offers 1-2 BHK flats with unit prices not exceeding Rs. 20-25 lakh, making it
the ideal option for price-sensitive home buyers in this region.
With
public transport always being an important criterion for LIG home buyers, the
fact that Pune Railway station is a mere 40 minutes' commute away also adds to
Shikrapur's advantages. Infrastructure initiatives that will benefit Shikrapur
include the proposed Ring Road, a four-lane flyover linking Shikrapur to
Wagholi and several additional roads that will improve connectivity to other
key locations in Pune.
About
The Author:
Mr.
Sachin Agarwal is CMD of Maple Group (founded in 1997 as Goyal Constructions)
whose mission is to provide genuinely affordable housing to the common man
without compromising on quality and amenities. Maple Group's 'Aapla Ghar'
initiative has seen unprecedented success. The Group now has unique welfare
housing projects, other residential projects and commercial projects in 30+ key
locations in and around the city of Pune Maharashtra, India.
For
Media Contact
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Kalghatgi
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