Why Talegaon Needs More Affordable Housing

Sachin Agarwal

Though Talegaon has long since been identified as a very suitable destination for residential property investment in Pune, most of the talk about this serene and nature-rich location has been about row houses, larger premium flats and senior living projects. As a matter of fact, a sizeable share of the demand for flats in Talegaon actually comes from locals and people who have migrated there to seek employment in the many industries operating in Talegaon.

Talegaon is situated 40 kilometres from Pune on
the Mumbai-Bangalore highway, far enough from the main city to have escaped mass real estate development and thereby retain its exceptional natural attributes. Thanks to the fact that Talegaon is located at a higher elevation above sea level, it enjoys better climate than the central regions of Pune. Nevertheless, this is a key growth location by virtue of being located at the nexus point of Pune, Nashik and Mumbai.

This factor has made Talegaon a focus area for many industries. They are attracted not only by the excellent location but the lower land rates and the fact that Mumbai is just 135 kilometres away via the Mumbai-Pune Expressway. Residential real estate in Talegaon is driven by employees from the industrial zones in Maval and Chakan as well as the IT/ITeS companies in Hinjewadi. Furthermore, Talegaon benefits from easy access to excellent educational institutes, which is always a point of favour for home seekers.

The second homes and even premium flats business is doing very well in Talegaon because of its bracing environmental qualities and the IT-driven demand from Hinjewadi, which is just 20 kilometres away. However, the main need in this location is for affordable housing, and it is this requirement that low-cost housing initiatives like Aapla Ghar by Maple Shelters seek to fulfill.

Employees of the many automobile and industrial manufacturing companies in and around Talegaon cannot afford the mid-level and high-bracket offerings that developers have been churning out. Yet, it is imperative for them to live close to their places of work, since Talegaon is relatively far from areas where most budget housing is coming up.

Flats priced below Rs. 10 lakh, yet available with contemporary housing projects with all the conveniences of modern living, are the need of the hour at Talegaon. Vacation homes in Talegaon will always be desirable to buyers and investors from Pune and Mumbai. But it is the supply of affordably-priced flats that is a key factor for this region's continued viability.

It is the employees of its industrial and automobile firms who are the real pillars of its enviable economic progress. They are not here for Talegaon's natural splendour - they have either been there from the beginning or have moved there to find employment. It is critical that their needs are addressed, as well.

-Sachin Agarwal, 
CMD - Maple Shelters