Keshav Nagar - An Untapped Gold Mine in an Overly Starved Market

Pune is an incredible city in many ways. Be it its vast historical heritage, great educational institutions, its established industrial best, or the recently booming IT Sector, there is a lot to the city that attracts loads of people from all over the country, and even outside it.

And as with any other growing metro, this situation has while helped the city improve its already impressive growth rate, it has also created many problems for its residents; biggest being the rapidly decreasing livable space and increasing cost of living in the city. And with the migration rates projected to go up by 25%, the situation doesn't seem to resolve anytime soon. 

This is the reason why builders, taking cue from cities like Mumbai & Delhi, have started developing areas surrounding Pune to create suburbs that can incorporate the growing population and help the city expand. One such area is Keshav Nagar in Mundhwa area, previously a collection of hamlets in remote periphery of the city, which now has grown to become the next Kharadi. The area enjoys close proximity to Hinjewadi, the IT Hub of pune, which has created a great consumer base vying for the area, and has thus inspired many builders to develop their projects here. In terms of residential property value, Keshavnagar benefits from its advantageous proximity to Koregaon Park, of which Mundhwa is now considered an extension. It is one of the increasingly rare locations where purchasing a budget home in a strategic location in Pune is still possible.

Currently, Keshavnagar is primarily a destination for mid-income and upper middle-class home buyers and, with a variety of new residential projects and resale options available to choose from.  Some of the major projects from renowned builders in the area are Godrej Infinity and Godrej Active by Godrej Properties, Mantra Insignia from Mantra Builders, Valora Towers of ARP Builders and Purva Silversands from Purvankara* (Though this one is more in Mundhwa proper, rather that in Keshav Nagar per se).

Keshavnagar first started coming into the Pune real estate limelight in the late '90s. Due to the fact that it still a Gram Panchayat area and therefore outside the official municipal limits, property prices have remained rational up to now and the area still offers a lot of ambient greenery. Keshavnagar is expected to come under the municipal corporation in another one- and-half to two years, which would mean a boost in the currently somewhat under-developed infrastructure there, as a result of area-specific policies of the municipal corporation. 

The area is located between Manjiri on the East and Ghorpadi on the West, is close to Pune Camp and only about nine kilometers from the railway station. The airport is readily accessible, as are major malls such as Amanora Town Centre on Hadapsar-Kharadi Bypass and Phoenix Market City and InOrbit on Nagar Road. 

More importantly, from a residential real estate viewpoint, it is an ideal home base for Infotech employees from the Magarpatta, Kharadi Kalyaninagar and other IT hubs, which are within quick driving distance. Land availability for new constructions is still fairly good, portending a lot of future development potential for the area. 


Refferences: 

1. Keshavnagar is fast becoming an investment hotspot of Pune
2. Economic Times (Keshavnagar: New realty boom area in Pune)