Talegaon is recognised as a good residential property investment destination, especially by investors from Mumbai. Such investors look for 3 BHK flats and rowhouses, while the local demand is skewed towards 1 and 2 BHK configurations. Developers currently catering to both these demand profiles at Talegaon are Tata Housing, Naiknavare Group, Siddhivinayak Group and Namrata Group. Vascon has also come up with a huge residential development in Talegon.
Talegaon is situated on the Mumbai Bangalore highway, away from the city, and has excellent environmental attributes. In terms of geographical location, it is at a higher altitude than Lonavala from sea level. Talegaon is a 45 minutes’ drive from Pune and a 2 hours’ drive from Mumbai. It is well connected by expressway, national highway and railway.
The industrial belt of PCMC, Maval and Chakan and IT/BT park of Hinjewadi is close by – a mere 25 minutes’ drive. There are excellent educational institutes of international standards in the proximity, as well. With the rapid pace at which Pune has grown recently, Talegaon has definite potential to emerge as another satellite city.
Talegaon’s biggest USP is its location. Although it is away from city, it is surrounded by industrial and IT hubs which are developing there and are generating countless jobs. This adds up to demand for all sorts of residential properties. Local demand comes from varied buyers that hail from all professions. This fact in itself widens the scope for projects in the area.
Initially, the strategy by developers and second home agencies such as Disha Direct was to market Talegaon as a definitive destination for second/weekend homes. Today, the focus of development is on end users and investors who look at bungalows, row houses, apartments and senior citizen projects.
End user buyers of residential property in Talegaon are generally employees of the Hinjewadi IT Park, Talegaon MIDC, Chakan MIDC and Talwade IT Park. Other buyer components come from the manufacturing and service sectors – lawyers, doctors etc. – and retirees from Defense or other sectors.
That said, there are no significant commercial developments within Talegaon itself. This puts a ceiling on the area’s potential for property appreciation, which currently ranges between 5-7% per annum. Residential property rates range from Rs. 2800-3300/sq.ft
Sanjay Bajaj, Managing Director – Pune, Jones Lang LaSalle India
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Talegaon is a great area to invest in India. With the home prices wing so low and the quality of living investors love to invest there. Investors always look at location and price to get ROI. Most investors are from other countries because there isn’t any major investment company in that area. I love visiting India because of the wide range of real estate investment opportunities.