As one drives down towards Mumbai from Pune on NH4 (not the expressway), the town of Talegaon-Dabhade is one of the first places one will pass. This town is largely known for its lakes, greenery and the hills around it. In recent times, it has also emerged as a hub for affordable housing in the region, catering to industrial workers and IT employees alike. Not surprisingly, many developers have invested in numerous housing projects in and around this town.
In this article, we analyze the present and future prospects of this town, touted as Pune’s next satellite city after Pimpri-Chinchwad and see whether this hype is justified.
Location & Connectivity
Talegaon’s biggest advantage is indeed its location directly on NH4, which allows for a quick commute to Mumbai, Pune, Pimpri-Chinchwad and even Satara and Kolhapur and has hence, attracted investors from these cities. The Mumbai-Pune Expressway too is barely 2 km away and can be reached from Talegaon in a very short time indeed. Talegaon, which is a prominent industrial area itself, is also connected to the industrial hubs of Chakan and Shikrapur by road. In fact, most residential projects in Talegaon are either on NH4 or the Talegaon-Chakan road.
Talegaon also lies on the main Mumbai-Pune railway line. Regular local trains ply from Talegaon to Pune and Pimpri-Chinchwad daily and offer a convenient mode of transport for many office goers residing here. Pune Municipal Transport (PMT) also runs a regular bus service to and fro Talegaon, hence connectivity is not an issue here. Internal road quality, however, is not that good, with many kaccha roads and last mile connectivity lacking. Also, with the narrow arterial roads (other than NH4), traffic bottlenecks are formed and jams are a common occurrence, but unfortunately, not much has been done in this regard. Another inconvenience for those travelling by road is the toll they need to pay at Somatane Phata near Talegaon daily.
Talegaon caters primarily to two sections of residents: the IT sector employees working in Hinjewadi IT Park (24 km) and Talawade IT Park (14 km) on the one hand and those working in the industrial hubs of MIDC Talegaon, MIDC Chakan (21 km) and Pimpri Chinchwad (21 km) on the other. These hubs house major companies such as General Motors, L&T, Bajaj and Volkswagen. The demand for homes is comparatively greater from the latter segment i.e. the industrial staff and that has kept prices lower in this area.
When it comes to social amenities, Talegaon is a rather mixed bag. It has none of the malls or mega shopping cum entertainment centers, which are present in Pune and Pimpri-Chinchwad. Good restaurants too are rare, with the dhabas along NH4 probably being the best option for those looking to eat out. However, the town has a number of grocery stores catering to residents’ daily needs.
Talegaon has a number of educational institutions. Schools such as the Heritage School by Pearson, BK Birla Centre for Education and High Vision English Medium School offer quality academic and value-based education to children. Each of these schools is affiliated to CBSE, with the first two offering hostel facilities as well. For higher education, one can choose from among DY Patil College of Engineering, DY Patil Management Institute, MIMER Medical College and Tolani Maritime Institute.
For medical care too, a number of hospitals are available in and around Talegaon and Somatane Phata such as Lifeline Multispeciality Hospital, Unique Hospital, Sparsh Hospital and Pioneer Hospital.
Among the biggest positives of purchasing a home in Talegaon is its affordability. Land prices and property prices are far lower than those in its neighbourhood and this offers good value for money to home buyers. The average base price for a multistorey apartment is ~Rs. 3950/sq. ft. It is equally affordable to take an apartment on rent, with an average rental price of Rs. 9/sq. ft.
As most properties in Talegaon cater to the budget segment of home buyers, there is a preponderance of 1 BHK and 2 BHK apartments, though 3 BHK apartments and villas are also available at some high end projects. One can get a 1 BHK apartment for rates starting from ~Rs. 17 lakh, with a 2 BHK apartment available for a starting price of ~Rs. 21 lakh.
Pollution free living with scenic views
Another big attraction of Talegaon to a home buyer lies in its beautiful green surroundings. Whether it is hills, lakes or the Indrayani River flowing nearby, Talegaon can be said to lie in the lap of nature. Talegaon is actually at a greater altitude than the popular hill station of Lonavala (25 km away) and hence, has great weather throughout the year. Most properties in Talegaon offer amazing views of the neighbouring hills and residents can enjoy a peaceful and pollution free life.
Attractive to investors/vacation home buyers
An important feature of real estate in Talegaon is its attractiveness to investors or for those looking for a second or vacation home. In many projects, 50% or above of the apartments are purchased by these categories. For investors, Talegaon’s connectivity, upcoming infrastructural developments and the high probability of good returns serve as key attractions. In fact, land rates have more than doubled from an average of ~Rs. 1890/sq. ft. in December 2009 to ~Rs. 3950/sq. ft today, with plenty of scope for further appreciation.
Vacation/second home buyers are drawn by Talegaon’s climate, green surroundings and the lower property rates here. Talegaon’s proximity to popular tourist destinations such as Lonavala, Khandala, Karla and Bhaja caves etc. make it a good base camp for thrill-seekers as well as those looking for a peaceful, carefree holiday.
Upcoming projects in Talegaon
Having seen some of the key features of the real estate sector in Talegaon, we now highlight some of the upcoming projects in this town, which illustrate these features.
One of Pune’s major upcoming developers, VTP Realty, is launching their project Bhagyasthan, which is just off the Talegaon-Chakan road. This 11 acre project consists of budget homes of 1 RK, 1 BHK and 2 BHK configurations. Planned to be ready for possession around the end of 2018, these homes will boast of VTP’s signature quality engineering. Amenities such as a basketball court, clubhouse with gym, herbal garden etc. are also planned for the benefit of residents.
Located on NH4, as one enters Talegaon, is Naiknavare Developers’ Lakeshore Residency. As the name suggests, this project is next to a lake (which was, unfortunately, dry when I visited). Comprising of 2 BHK and 3 BHK homes along with convenience stores to meet residents’ daily needs, it functions virtually as a mini-township. Residents can avail of amenities such as a swimming pool, lawn, amphitheatre etc.
Moving further on NH4 towards Wadgaon, one comes across Tata Value Homes’ La Montana project. A beautiful Spanish themed township, being built on a 20 acre land parcel, it boasts of spacious and comfortable 2 BHK homes. Located next to green hills, residents can enjoy a pollution free environment while availing of the numerous amenities such as a jogging track, Jacuzzi, banquet hall, healthcare centre and even a school.
Located next to La Montana is another project by Naiknavare Developers, named as Eagle’s Nest. Offering a variety of housing options ranging from 2 BHK and 3 BHK apartments to row houses and duplex apartments, this project caters to a wide spectrum of home buyers. With the beautiful Western Ghats right next to it and amenities such as a community center, water bodies, pavilions and senior citizen’s seating area, residents will be spoilt for choice.
Further along the highway, as one passes Wadgaon, one comes across Clover Realty’s Clover Casablanca project. This project has 1 BHK, 2 BHK and 3 BHK condominiums and boasts of the IGBC Green Homes Gold Certification. Clover is providing plenty of amenities to residents including a putting green, cricket pitch and skating rink, among others.
Talegaon has a lot to offer to home buyers, looking for greater value. The town may not have the advanced infrastructure and luxuries of a city, but its climate and surroundings are a major attraction. For those working in nearby areas, Talegaon is an appealing option. With ever improving infrastructure and more enterprises setting up base (Foxconn is setting up a major manufacturing facility here), the future does look promising for this town along the western outskirts of Pune and Pimpri Chinchwad.