According to the latest New World Wealth report, Pune features in the list of the richest cities in India with a total wealth of $180 billion. With an astounding number of 4,500 millionaires and 5 billionaires, Pune features in a list which is topped by Mumbai in 1st place, followed by News Delhi, Bengaluru coming up 3rd, followed by Hyderabad and then Pune. Chennai and Gurgaon add to the list after Pune with a total wealth of $150 billion and $110 billion respectively, followed by other Tier II cities in India such as Surat, Ahmedabad, Visakhapatnam, Chandigarh, Jaipur and Vadodara.
The above figures are increasingly relevant in the context of growth across sectors such as financial services, IT, real estate, healthcare and media and it is believed that this growth will be initiated across the cities of Hyderabad, Pune and Bengaluru. Particularly so for the real estate sector in India, the report predicts that approximately 40% of wealthy Indians are likely to demonstrate an appetite for up-market residential properties in India in the next two years. Which, brings us to the obvious question about the demand for ultra-luxury properties and the profile of high net worth individuals (HNIs) and non-resident Indians (NRIs) who are investing in these properties in India and their real estate requirements.
In recent years, Pune has evolved as a much-favoured city as compared to others, owing to many conducive conditions such as moderate climatic conditions and investment prospects. In a report by 99 acres in 2015, Pravin Mahurkar, Associate Director – Residential Services, JLL stated, “The buyers for luxury housing in Pune are the C suite of the city’s leading corporates, high level executives from the city’s IT and non- IT MNCs, the most successful entrepreneurial segment, NRIs returning to Pune and also investors and end users from Mumbai”.
Pune’s well-heeled are often seen to invest in real estate across some of the city’s centrally located and established neighbourhoods as well as more recent ones that have been burgeoning in the Eastern IT Corridor of the city. “Maximum luxury properties are concentrated in locations such as Kalyani Nagar, Koregaon Park, Magarpatta City, Boat Club Road, Prabhat Road, Sahakarnagar, Salisbury Park, Model Colony, Bhosale Nagar, Sopan Baug, Erandwane and the Aundh-Baner corridor”, adds Pravin Mahurkar.
In terms of favoured locations to invest in, Bhosale Nagar is one of Pune’s prime residential neighbourhoods. Located in the heart of Pune, this tree-lined neighbourhood has long been home to the city’s affluent residents and is a part of Pune’s well-established and prosperous neighbourhoods. Families have resided here for generations, even before Pune began to expand geographically towards its eastern and western boundaries. A prime residential area, just off the University Road, Bhosale Nagar is known for its verdant tree-cover and is very close to Shivaji Nagar, an important locale in Pune known for the district court, the Pune Municipal Corporation and many more government establishments. Bhosale Nagar is much sought-after and this green and luxurious neighbourhood is one of Pune’s most enviable addresses owing to the large expanses of space that it affords its residents. Its proximity to the city’s shopping, entertainment, educational and business districts lends Bhosale Nagar an exclusive touch.
A spectacular location such as Bhosale Nagar is further enhanced by the presence of architectural spaces that seamlessly compliment the location. Castel Royale is a striking example of lavish luxury that combines architectural genius with the exclusivity of serenity and nature that Bhosale Nagar has to offer, to present to its discerning residents the finest that life has to offer.
Nestled amidst a canopy of trees, Bhosale Nagar affords its residents the extravagance of waking up to the twitter of chirping birds. Well-connected to every great place in Pune including essential conveniences such as hospitals, schools and banks, Bhosale Nagar is a landmark in itself. And, standing tall amidst this verdant neighbourhood is Castel Royale that delivers opulent living at its very best.
Our Verdict; we recommend you give yourself to a little indulgence and luxury, at Bhosale Nagar.