Prashant Thakur, Head – Research, ANAROCK Property Consultants
Once a small village located on the eastern periphery of Pune and defined by industrial developments, Wagholi has now transformed into a sought-after residential destination.
The housing boom in Wagholi kicked off primarily on account of vast availability of land parcels at affordable prices, low registration costs and easy legal procedures, as it falls under a Gram Panchayat area. Wagholi and its nearby areas have also witnessed a rapid growth of IT parks and other commercial centres.
Over a decade ago, Wagholi was seen as little more than an extension of the city. However, it has interesting historical antecedents – Wagholi was the centre of the ruling chiefs of Chhatrapati Shivaji, and it’s very ancient Wagheshar (lord of tigers) temple is a popular tourist attraction.
Located on the Pune-Nagar highway, Wagholi has been under transformation since 2007. The region began developing primarily due to the saturation of core areas in Pune. In addition, the advent of the IT-ITeS industry in the eastern parts of the city drove up real estate activity here.
The major growth drivers that contributed to the development of Wagholi include the presence of affordable projects,