The Maharashtra government recently approved a new IT Park in Purandar, near the proposed Purandar International Airport. Times Property This move comes as Pune’s urban sprawl pushes southwards, and infrastructure projects seek to catch up with growing demand. The announcement has stirred quite a buzz in real estate circles. Here’s what this could mean, both opportunities and challenges, for property buyers, developers, and investors in and around Pune.
Background: Purandar Airport & Associated Developments
Before discussing real estate impact, it helps to understand the setting:
- The Purandar International Airport (also known as the New Pune Airport) has been in planning for several years. It aims to address capacity constraints at the existing Lohegaon Airport and to cater to rising travel demand.
- Land acquisition challenges have been a major hurdle: objections from farmers in villages like Vanpuri, Udachiwadi, Ekhatpur, Munjawadi, Kumbharvalan, Pargaon, and Khanwadi have delayed progress.
- The size of the airport land has also been revised multiple times. Originally proposed around 2,832 hectares (≈ 7,000 acres), but revised to about 3,175 acres (≈ 1,285 hectares) to reduce resistance and manage land issues.
Purandar IT Park: What Has Been Announced
- The state government’s approval of a new IT Park in Purandar near the airport is aimed at leveraging the connectivity benefits and expected infrastructure improvements. Times Property
- This IT Park is expected to relieve pressure on existing IT hubs like Hinjewadi, while opening up new growth opportunities in Pune’s southern belt.
Real Estate Impact: Why This Matters
Here are the key ways in which the new IT Park + the airport will influence Pune’s real estate market:
1. Rise in Demand for Residential Properties
- As the IT Park creates job opportunities, professionals will want to live closer, driving demand for homes in nearby villages and suburbs. Places like Saswad, Jejuri, Purandar villages, and surrounding areas are likely to see increased interest.
- Both affordable and premium housing will see growth. Flats (1, 2, 3 BHK), gated communities, and second homes will become more sought after.
2. Increase in Land Prices & Speculation
- Land values around the proposed airport-IT park corridor are likely to increase. Early buyers and investors may benefit from lower prices now, before full infrastructure kicks in.
- However, speculation can lead to inflated pricing, and plots being marketed without clear legal status (e.g., NA conversion, proper approvals).
3. Infrastructure and Connectivity Improvements
- With airport development comes better roads, highways, possibly public transport linkage, utilities (water, power, sewage). The IT Park will necessitate good connectivity.
- Inclusion of nearby villages into the Pune Metropolitan Region (PMRDA) jurisdiction is under discussion. This means better planning, regulated land use, and civic infrastructure. The Times of India
4. Boost to Commercial Real Estate
- Office spaces, data centres, tech parks, retail outlets, and logistic hubs may emerge to support the IT Park.
- Retail and hospitality could also benefit: demand for hotels, restaurants, service apartments may go up near the airport + IT Park.
5. Value Appreciation & Investment Potential
- Early entrants (buyers or developers) might gain significant capital appreciation as the area gets developed.
- For long-term investors, properties in the growth corridor of Purandar are likely to provide good returns.
Risks and Important Considerations
While the prospects are promising, there are also risks. Anyone interested should keep these in mind:
- Land Acquisition Delays & Disputes: The airport project has already seen objections, protests, and delays. These can ripple into delays in the real estate developments too.
- Legal / Regulatory Approvals: Conversion of agricultural land, NA status, layout approvals under PMRDA, registration under RERA for projects and plotting – all these approvals take time. Without them, legal risks increase.
- Speculative Bubble Risk: Sometimes hype leads to unrealistic promises (high returns, inflated marketing). Buyers must verify credentials, approvals, and plan carefully.
- Infrastructure may lag: Just announcing an IT Park or airport doesn’t immediately bring all utilities or roads. Sometimes basic civic amenities lag, which can reduce living comfort initially.
- Environmental & Social Concerns: Environmental clearances, compensation to farmers, rehabilitation, impact on local ecology etc. can challenge the smooth flow of the project.
Key Opportunities
Here are the major opportunities people (homebuyers, developers, investors) can leverage:
- Early Land Purchases: Buying plots or property now before infrastructure fully comes up can lead to higher returns later.
- Mixed Use & Integrated Townships: Developers can plan integrated communities combining housing + retail + recreation + green spaces.
- Affordable Housing Demand: As employment rises, people working in the IT Park will look for well-connected but affordable housing. This is an important segment.
- Commercial Spaces & Offices: Leasing of office space, co-working, hosting service centres near the IT Park will be lucrative.
- Hospitality, Retail, Lifestyle Services: Hotels, restaurants, entertainment zones, malls could do well as locals + travellers increase.
What Homebuyers/Investors Should Do
If you are considering investing or buying property in this region, here’s a checklist:
- Check Approvals & Legal Status
- Verify if the land has NA status or is in conversion pipeline.
- Check if the layout plan is approved by PMRDA or relevant authority.
- Ensure the project is registered under RERA if required.
- Check Infrastructure Plans
- Are there plans for road connectivity, sewer, water, power?
- How is the commute to the main Pune city / IT hubs?
- Seller / Developer Track Record
- Does the developer have history of delivering on time?
- Transparent pricing, no hidden costs.
- Check Compensation / Land Acquisition Terms (if you are a landowner)
- What compensation is offered?
- Are there clauses like returning part of land as developed plots (as has been proposed in some cases)?
- Watch Market Trends & Government Notifications
- When PMRDA includes villages under its jurisdiction, land use rules, construction permissions become stricter and more regulatory.
- Keep tab of announcements on notifications, clearance, timelines.
Recent Developments & Numbers
To add current context, here are some updated facts:
- Government has received consent from farmers for about 76% of the 3,000 acres needed for airport land.
- The proposed airport’s land has been reduced from ~7,000 acres to ~3,175 acres (≈ 1,285 hectares) to manage opposition.
- Compensation offers include monetary value, giving back of 10% of acquired land as developed plots / Aerocity plots.
- Inclusion of Purandar villages under PMRDA’s jurisdiction is being considered to ensure planned development around the airport.
External References
- MakaanExpert article on Purandar International Airport – Key Facts & Latest Updates for more details on airport plan, status, and real estate influence.
- Article from TimesProperty about the new IT Park in Purandar near Pune airport.
Conclusion
The announcement of an IT Park in Purandar near the upcoming Purandar International Airport is more than just another infrastructure plan—it signals a shift in Pune’s growth trajectory. For real estate, this means new growth corridors, opportunities for early buyers, commercial expansion, and rising demand. However, it also brings risks tied to land acquisition, regulatory delays, and speculative practices.
For homebuyers and investors thinking long-term, this is a region to watch closely. With due diligence on legal status, developer reliability, and infrastructure planning, investing in Purandar could be very rewarding in the coming years.
This blog is written by Nikhil Mawale, the best property advisor in Pune understands your dreams, offering expert guidance, exclusive deals, and smart plans for homebuyers and investors.
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