About Hinjawadi
Hinjawadi, also known as Hinjewadi, is a neighbourhood on the outskirts of Pune. Hinjawadi was a forested and agricultural area, a village tucked away from the sight of urban dwellers. However, due to large-scale developments in the past two decades, Hinjawadi is one of the prime locations in the country’s IT and residential sector today.
This article traces the transformation of the Hinjawadi area while exploring reasons to take note of this area and the gamut of investment opportunities it houses.
Important landmarks in the transformation of Hinjawadi
Development of the IT sector in Hinjawadi
The entire country has taken note of the rapid growth and development of Hinjawadi as an IT hub in recent times. The Rajiv Gandhi Infotech and Biotechnology Park, which spans 2800 acres, houses Indian and global companies like Infosys, Wipro, and Cognizant. The Hinjawadi region is also home to top IT and other companies.
The Hinjawadi MIDC, where most IT companies have offices, is divided into three phases. We will look at them in brief:
Apart from this, the plan to develop more phases is underway.
Development of the real estate sector in Hinjawadi
With the rise of the IT empire, there was a massive requirement for jobs which saw the flourishing of the real estate industry in Phase I and II. Some of the biggest names in the Indian real estate sector realised the development of Hinjawadi and constructed premium residential spaces in the region. Some include Shapoorji Pallonji, Pegasus Properties, and Kohinoor Group.
Today, Hinjawadi is called Pune’s Silicon Valley and has considerable demand and supply of residential spaces. Over 1.5 lakh people work in this area, and the job requirements keep increasing. According to 99acres.com, the real estate rates in Hinjawadi have risen by 20%. The development of the Hinjawadi-Shivaji Nagar Metro and the Pune Ring Road will further provide travelling ease for the residents in Hinjawadi.
Immense investment opportunities in Hinjawadi
Due to all these reasons, Hinjawadi has attracted investors due to its significant real estate price appreciation, increased offering, and rapid development in recent years. Apart from the IT Sector, the Hinjawadi area also boasts of housing some of the top educational institutions in the country, like the Symbiosis International University, Mercedes Benz International School, and Blue Ridge Public School. A range of entertainment spaces, including restaurants, bars, pubs, malls, retail outlets, and parks increases the desirability of living in Hinjawadi.
Shapoorji Pallonji, the curators of iconic projects globally over the past 150 years, have developed two stunning properties in Phase I — Joyville Hinjawadi and Joyville Sensorium Hinjewadi. These two properties are among the finest residential spaces in the area. To know more about these properties, visit — https://www.joyvillehomes.com
Originally published at http://realestateandepc.wordpress.com on April 17, 2023.
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