Hinjawadi, Kharadi, Baner Lead Pune’s Mixed-Use Property Boom
The growing demand for mixed-use developments in Pune has made them a preferred choice among buyers and developers, with areas like Hinjewadi, Kharadi, Magarpatta, and Baner emerging as key hotspots. These projects integrate residential, retail, and recreational spaces within a single community, providing convenience and enhancing lifestyle quality. Over the past five years, mixed-use developments in Pune have increased by 20-30%, reflecting a shift towards walk-to-work locations and easy access to entertainment and shopping hubs. Experts highlight that such developments captured 25% of India's $7.8-billion real estate investment in 2022, indicating their increasing appeal. Wider proposed roads in the city's outskirts, including Baner, Balewadi, Mahalunge, Kharadi, and Wagholi, are also facilitating the expansion of commercial spaces within these projects.
Both buyers and tenants are finding significant advantages in mixed-use developments, with rental demand remaining high due to their proximity to IT parks, shopping centers, and Metro connectivity. Developers note that 2 BHK units in these projects typically command monthly rents between ₹45,000 and ₹60,000, while 3 BHK units range from ₹60,000 to ₹90,000. Investors are also showing interest, as the cost difference between rent and EMIs makes ownership a more attractive option. Leading developers, including Tejraj Group and Sigma One Universal, are actively working on mixed-use projects across prime locations. They emphasize the importance of well-planned separation between residential and commercial spaces to ensure optimal functionality, with buyers and tenants willing to pay a premium for the added convenience and integrated lifestyle benefits.
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