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Baner - Pune Real Estate's Rockstar Location

Baner is tantalizingly close to Hinjewadi - which, of course, is the very nerve-centre of Pune's vibrant Information Technology sector.

Arvind Jain
Pride Group

What is it about Baner that has attracted Pune's top-most developers to launch projects there? Not to many years ago, all it stood for was greenery and relatively pollution-free environment. Today, it is the most important hub of high-end residential properties in Pune.

Actually, there's no real mystery here. Baner is tantalizingly close to Hinjewadi - which, of course, is the very nerve-centre of Pune's vibrant Information Technology sector. People who work in Hinjewadi tend to be highly-qualified, well-paid and widely traveled - and they want homes that match these attributes. They can afford to live in technologically enabled and luxuriously appointed housing projects, and the demand for such homes has naturally kick-started corresponding supply.

Baner was not the first area to get a wave of the IT magic wand. Aundh holds the distinction of being the area which pioneered as the housing destination of choice for home buyers from Hinjewadi. However, it did not take very long for Aundh's development limitations to reach the breaking point. As a result, home prices there began spinning out of control.

Baner and Wakad were advantageously placed as the next locations which could cater to the ever-rising demand for homes close to Hinjewadi. Significantly, they also had the best of Pune's natural beauty to offer. Greenery and scenic mountain ranges lend themselves very well as a backdrop to housing projects for those who expect a beautiful view from their balconies and bedroom windows.

Baner also has the Mumbai-Pune Expressway in the immediate vicinity. The Expressway is arguably the most important infrastructure for Pune, because it single-handedly transformed this once sedately-moving city into a hotbed of business activity. By facilitating vastly accelerated movement of people and goods between Pune and Mumbai, it ushered hitherto unthought-of levels of economic partnership between these two cities. Today, areas that lie along the Expressway do exceedingly well.

The fact that Baner is also located along the Mumbai-Bangalore highway is equally, if not even more significant. Information Technology is one of Pune's three economic booster-rockets (the other two being manufacturing - including automobile - and retail). There is talk of Pune eventually taking Bangalore on for the status of India's Silicon Valley, but that is a futuristic viewpoint. As of today, Bangalore is still the country's leading 'software city', and being as well-connected as possible to it is important for Pune's IT industry.

Naturally, no location will work just because it has a surfeit of economic plus-points, and that one can get to work and back with minimum problems. People will not buy homes just for those reasons. They also need access to leisure and entertainment, expect to have hospitals close at hand and need to shop for daily requirements. Since Baner is close to areas like Aundh, University Road, Shivajinagar and Law College Road, it offers all these facilities just a short drive away.

Finally, few locations in Pune have had the advantage of developing their very own social profile. While Boat Club Road, Prabhat Road and Koregaon Park have definitely been able to achieve this, the fact is that most new areas tend to see real estate development that caters to almost all income categories. Baner, on the other hand, has evolved into a finely-tailored neighbourhood that is visibly geared towards the upper crust.

In the light of all these advantages, Baner has been transformed into a property hotspot that attracts investors from all over the country, and even beyond. Baner sees a massive share of serious inquiries from NRIs originating from Pune - from the IT sector as well as other industries - as they rightly see it as the best place to settle in when they relocate. As a result, Baner's rate of property price appreciation has been among the highest in Pune over the last two to three years, and this trend is very likely to prevail in the future.

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First Published on Dec 9, 2013 12:58 pm
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