Bhugaon: For Living, Working and Investing

05 February 2024

Bhugaon, nestled in the scenic outskirts of Pune, has emerged as a sought-after destination in recent times. It offers a plethora of opportunities for living, working and investing in the flourishing real estate market of Pune. Bhugaon has become a preferred address for modern home seekers who are looking for a balanced and pleasant lifestyle because of its serene environment, proximity to urban conveniences, and robust infrastructure. For multitude reasons, Bhugaon is an ideal choice for residents, professionals, investors, and real estate enthusiasts alike.

Ease of Living

• Connectivity

Despite being tucked away from the city’s centre, Bhugaon enjoys excellent connectivity to Pune’s major destinations. It is well-connected through roads, making commutes to the city centre and nearby areas easy. Bhugaon is also well-connected to the Pune International Airport and the Pune Railway Station, making it easy for frequent travellers to commute. Besides the extensive road network, the upcoming metro project is set to further enhance connectivity and accessibility to this area. The proximity to the Mumbai–Pune Expressway (officially Yashwantrao Chavan Expressway) also adds to the overall allure of Bhugaon as a residential destination for individuals from Mumbai and Pune both.

• Social Infrastructure

Bhugaon is strategically surrounded by some of the prime locations of Pune city such as Bavdhan, Bhukum, Chandni Chowk and Kothrud. Prominent schools and institutes such as Indus International School, Ryan International School, Rainbow International School, Elite International School, are located in and around Bhugaon. To provide world-class medical facilities to the residents living around Bhugaon, hospitals such as Life Line Multispecialty Hospital, Unique Multispecialty, Asian Speciality Hospital, Sahyadri Hospitals, Deenanath Mangeshkar Hospital are in vicinity. The Pavillion Mall, Westend Mall, Grand Highstreet, and a number of other large and small shopping malls boost the area’s social, entertainment, and fun factor.

• Food and Experiences

For adventure, travel, nature and food enthusiasts, Bhugaon is just the perfect place. Bhugaon is dotted with some of the most loved food experiences and restaurants in Pune.

The resorts in Bhugaon offer a pleasant break from the rush of ordinary life thanks to their peaceful surroundings and relaxing vibe. They cater to a variety of tastes and budgets by offering comfortable lodging, scenic vistas, delicious dining options, and recreational experiences. The vibrant restaurants here serve both authentic local dishes and cuisines from across the world. Visitors can take their taste buds on a delightful journey, while enjoying the beautiful landscape.

• Natural Setting

Another alluring factor of Bhugaon that makes it popular is its breath-taking natural beauty. It offers a welcome respite from the hustle-bustle of city life, close to the beautiful Western Ghats and the Mulshi Dam. For majority part of the year, residents here can wake up to quaint landscapes, enjoy pleasant weather, and relish the calmness of the environment. Living in such beautiful, enriching environment, not only enhances the quality of life but also contributes to holistic well-being. As a result of the lack of the rush that is typical of cities, homeowners and residents of Bhugaon are able to return to a tranquil retreat at the end of the day, promoting a healthy work-life-play balance.

Ease of Working

• Infrastructure Growth

Over the years, Bhugaon has seen significant infrastructure development. The area has evolved into a self-sufficient neighbourhood, with everything at hand; including, educational institutions, hospitals, malls, recreation areas and also commercial spaces and business establishments. Such developments have increased the demand for Bhugaon real estate, making it an attractive alternative for prospective investors and residents.

• Work Opportunities

Bhugaon is a sought-after address among tech professionals due to its proximity to the Hinjewadi IT Park, one of Pune’s most prominent tech hubs. The Hinjewadi IT Park, called Rajiv Gandhi Infotech Park, is a large tech and business park spread over 2,800 acres, built by the Maharashtra Industrial Development Corporation. Also, the nearness to the Mumbai–Bangalore Expressway provides ease of access to professionals and business-owners that frequently travel to Mumbai, Satara or Bangalore for work and business.

Real Estate Growth

• Steady Rise

Due to the rising demand for housing choices far from congested urban areas, the real estate industry in Bhugaon is booming since the last 10 years. Prominent developers are investing in the area, building residential and commercial developments, owing to the area’s land availability, peaceful climate, easy connectivity, and most importantly escalating demand. This opens up a favourable market for homebuyers and investors that are looking for diverse properties, accommodating different budgets, amenities, configurations and other criteria. All in all, investing in Bhugaon’s real estate market holds great promise.

• Data and Insights

About 50 new projects with roughly 8500 units, across segments, have been launched in the last decade in and around Bhugaon, of which more than 88% units have already been absorbed. These promising numbers highlight the area’s potential and demand among contemporary homebuyers. Apartments typically cost between INR 7900 and INR 8600 per square foot, with the majority of these developments in the luxury and mid segments. High demand exists for 650 to 1,150 square foot, 2- and 3-bedroom homes among both nuclear and blended families. Demand is expected to remain stable over the next five years since an additional 5,500 apartments will become accessible to homebuyers and investors.

Bhugaon offers it all – cosy places to stay, intriguing culinary treats, latest urban conveniences and undoubtedly beautiful homes. Bhugaon’s remarkable growth trajectory positions it as a hotbed for real estate investments. Property prices have shown steady appreciation, making Bhugaon a lucrative option for investors. Furthermore, the consistently increasing demand for rental properties because of more and more professionals moving to Hinjewadi, Bavdhan, and Baner for work and business creates lucrative rental income opportunities for property owners. As Bhugaon grows and prospers, it stands out as a promising destination for real estate development and success.

Data Source: www.propequity.in