® Gahunje, Pune From a fringe village to an attractive growth precinct of Pune April 2018 Introduction Gahunje, located in north-west Pune, lies adjacent Strategically located, this micro market is an to Mumbai-Pune Expressway (NH 48) and in ideal destination for people living in Pune as vicinity of Pimpri Chinchwad area. The area is well as Mumbai. Once a far flung village, governed by Pradhikaran-Pimpri Chinchwad New Gahunje is currently witnessing an influx of Township Development Authority (PCNTDA), residential development and is fast which is responsible for the development of transforming into a best-sought residential physical infrastructure here. In fact, PCMC has location by professionals working in the proposed the state government to merge nine nearby areas. Besides key employment hubs villages including Gahunje and provide all nearby, Gahunje is also home to several necessary civic amenities and required good educational institutes and social infrastructure. Backed by these initiatives, the area infrastructure facilities in its vicinity. is witnessing immense real estate growth since the past few years. Well connected to Pune via NH 48 and Aundh-Ravet BRTS road, Gahunje is also Concentric development pattern of Pune coupled considered a weekend-getaway destination with its ability to expand geographically along with by residents of Mumbai and Pune. Moreover, economic hubs is driving the real estate market of an international cricket stadium nearby that the city altogether. Massive urbanization of hosts international and IPL matches is an Hinjewadi with development of major IT hubs, added advantage for Gahunje and its future industrialization in Talegaon-Chakan belt and Dehu growth prospects. Road and regions of Maharashtra Industrial Development Corporation (MIDC) have also driven Backed by these developments, Gahunje the real estate growth in Gahunje. has today emerged as an ideal destination for residing, particularly by the young population Moreover, PCMC is unable to meet the residential working nearby. Moreover, with real estate requirements in the land earmarked by it due to growth in nearby micro markets such as rampant growth of the manufacturing and IT Wakad, Hinjewadi, etc. nearing saturation, sectors. Hence, the residential developments in the Gahunje is likely to become the next realty city are expanding and touching the villages hotspot governed by PCNTDA, including Gahunje. Connectivity Located in north-west Pune and in vicinity to Pimpri Chinchwad, Gahunje enjoys excellent connectivity to M u m b a i v i a M u m b a i - P u n e Expressway. ROAD AIR RAIL Ÿ Gahunje is easily accessible via Mumbai-Pune Ÿ Gahunje enjoys excellent connectivity to Pune airport Ÿ The nearest railway station is Dehu Road Expressway, Aundh Ravet BRTS Road and NH 48. via NH 48 (approximately an hour’s drive). station at a distance of 5km from Gahunje Ÿ Chinchvad station which is at a distance of 12 km from Gahunje ® 1 Gahunje, Pune | From a fringe village to an attractive growth precinct of Pune 2 Location Mapping 1 Maharashtra DEHU ROAD Cricket Association Stadium 1 NH 48 NH 48 2 TALWADE VITTAL NAGAR 1 Vikas Nagar Road 1 2 3 GAHUNJE 2 SANGAVADE RAVET GAHUNJE 3 Akurdi PIMPRI CHINCHWAD Chikhali Road 2 NH 48 MARUNJI PUNE LEGEND HINJEWADI Arterial Roads WAKAD 1 3 3 Water body PHASE II PIMPLE City boundary PHASE I 2 SAUDAGAR BALEWADI LEGEND 1 Om Super Market Highway Market/Supermarket 2 Sumedh Super Market Hospital 1 BK Birla Centre for Education 1 Symbiosis College Major Road 3 Majisa Super Market 1 International Tech Park 2 DVM English Medium School 2 Dr. D Y Patil College of Architecture Gahunje location College 2 The Quadron Business Park 3 Pawar Public School 3 Pimpri Chinchwad College of Eng. International Biotech Park Railway Line School 1 Cantonment Hospital 3 Water body IT Park 2 Dharaskar Hospital ® 3 Gahunje, Pune | From a fringe village to an attractive growth precinct of Pune 4 Key Growth Drivers Significant number of workers, junior-mid level employees from Gahunje is less than 30-minute drive to one of the major IT-ITeS numerous automobile, manufacturing, auto ancillary part hubs of Pune - Rajiv Gandhi Infotech Park at Hinjewadi. makers and automobile vendors are looking for affordable housing options in PCMC precincts, which makes Gahunje an ideal match for their residential requirements. Several educational institutes are located within 15 km radius Proximity to Mumbai-Pune highway, good connectivity to towards Wakad-Tathawade. Aundh via BRTS and proposed Nigidi-Dapodi BRT Corridor in Pimpri Chinchwad connects Kiwale (4 km from Gahunje) to Sangvi Phata will enhance connectivity. Gahunje is merely 30 minutes drive from major automobile and Gahunje boasts of decent social infrastructure facilities with other auto ancillary suppliers’ hubs such as Nigdi, Chakan presence of many retail options to take care of day-to-day MIDC and Chinchwad surroundings where companies like needs of the residents. Mercedes-Benz, Volkswagen, Mahindra, TATA and Bajaj Auto have setup their plants. Large number of mid-junior level employees of Talawade MIDC Gahunje has a cricket stadium nearby which hosts IT park, less than 30 minute drive, prefer to live in Gahunje due international and IPL matches. to its development as a residential destination. ® 5 Gahunje, Pune | From a fringe village to an attractive growth precinct of Pune 6 Swot Analysis STRENGTH OPPORTUNITY Ÿ Gahunje is expected to receive the globally-acclaimed infrastructure- Ÿ Proximity to Mumbai-Pune expressway makes Gahunje an ideal realty based model of planned urbanization as PCMC seeks the merger of 9 hotspot for investments from both the cities. villages including Gahunje. Ÿ Preferred residential destination by IT-ITeS professionals and people Ÿ It is a gateway to Pune and holds high potential for further working in the nearby manufacturing hubs. development. Ÿ Presence of cricket stadium hosting international matches enhances Ÿ Gahunje is located in close proximity to major economic hubs the location profile and boosts infrastructure developments. including Hinjewadi, Talegaon-Chakan industrial areas and other Ÿ Current real estate prices of Gahunje are low as compared to other regions under MIDC. peripheral locations which indicates that there exists an upside Ÿ Presence of good social and physical infrastructure facilities. potential. Ÿ Presence of a cricket stadium nearby that hosts international and IPL matches. WEAKNESS THREAT Ÿ Gahunje lacks retail development as there are no malls in the Ÿ Infrastructure development and provision of civic amenities vicinity. will be a challenge if the plans do not materialize within the Ÿ The locality is surrounded by villages which will take a long period to develop. stipulated period of time. Ÿ Traffic woes might impact Gahunje in the future periods as it is located adjacent to the Mumbai-Pune Expressway. ® 7 Gahunje, Pune | From a fringe village to an attractive growth precinct of Pune 8 Residential Real Estate Snapshot Situated adjacent to Mumbai-Pune Expressway, Gahunje acts as a gateway to Pune. The city’s concentric growth pattern is aiding Gahunje’s growth as a preferred residential destination. Massive industrialization in Talegaon-Chakan belt and Dehu Road, development of MIDC and IT parks in Hinjewadi have also driven the real estate growth in Gahunje. With robust development of Hinjewadi and rising capital values, Gahunje is expected to become the next preferred residential destination. The residential real estate market of Gahunje is flooded with affordable housing options as it is a preferred residential hotspot for employees working in nearby manufacturing units and IT-ITeS companies at Hinjewadi. Nearly 3,500 units have been added to the residential market of Gahunje during the past 5 years (2013-2017). Out of the total units launched, nearly 57% have already been absorbed. This signifies that the area has immense potential and significant inherent demand. New Launch Supply 1,600 1,400 1,200 Ÿ Out of the total new launches in Gahunje between 2013-2017, maximum supply was added 1,000 in 2013 and 2015, which accounted for a whopping 76% of the total units launched. 800 Ÿ The year 2014 and 2016 experienced a decrease in launches by 72% and 65% compared to 2013 and 2015 respectively, making the launch scenario erratic. This decrease was No. of Units 600 primarily due to presence of significant unsold inventory and the overall low sentiments in the real estate market. 400 Ÿ No launches were recorded in the year 2017 as the real estate industry was severely 200 impacted by the economic reforms such as DeMo, RERA and GST. 0 2013 2014 2015 2016 ® 9 Gahunje, Pune | From a fringe village to an attractive growth precinct of Pune 10 Residential Real Estate Snapshot Budget-wise Supply 1400 1200 1000 800 600 No. of Units 400 200 0 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016 Q4-2016 Q1-2017 Q2-2017 Q3-2017 Q4-2017 <40 lakh 40 lakh - 80 lakh Budget Segment (in ) Ÿ Nearly 90% of the projects launched post 2015 were in the affordable segment (< ₹40 lakh). Ÿ Gahunje is best sought for investment purposes and is a preferred residential destination for IT-ITeS professionals working in Hinjewadi and manufacturing employees working in the nearby industrial belts. Ÿ With growing demand by professionals working in the vicinity, Gahunje can be a good destination for those looking to get rental returns. Micro Market Price Movement wrt Supply Age of Inventory 4% 9% 1,400 6,000 16% 1,200 Ready to Move-In 1,000 5,500 1 - 2 Year 800 2 - 3 Year 600 No. of Units 5,000 /sqft 400 > 3 Years 200 0 4,500 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016 Q4-2016 Q1-2017 Q2-2017 Q3-2017 Q4-2017 71% New Supply (In Units) Price ( /sqft) Ÿ Presence of highway connecting Mumbai and Pune and being a gateway to Pune has made Gahunje a realty Ÿ Nearly 16% of the units launched are ready-to-move-in.