Located in the western part of Mumbai, the micro market started seeing developments when Commonwealth games were conducted in 2008. The micro market witnessed an influx of infrastructure developments and this has now transformed the locality into a prominent residential destination.

The residential market of the locality has shifted from an affordable market into a mid-segment area. The proximity of the micro market to the prime localities such as Mumbai and Pune is another advantage of the area. The area is located close to the Hinjewadi IT hub and this has contributed to the increase in residential demand.

The area is witnessing rapid infrastructure developments and this is backing the residential projects. Developers are coming up with luxury projects with modern amenities. The micro market enjoys good connectivity. The strategic location of the micro market along the Mumbai-Pune Bypass has also contributed to the growth of the area.

Though the micro market is majorly considered a prime residential area, the area also has retail and commercial establishments. The presence of large land parcels makes the commercial market of Baner a promising real estate destination.

The micro market is attractive with greeneries around, and this gives a harmony between nature and contemporary lifestyle for the home buyers. Many prefer living in such areas just to escape from the polluted and the overcrowded city. This has contributed to the increased demand for residential properties. Many prominent builders have their projects in the locality.

Most of the demand is driven by the working class people employed in Hinjewadi and its neighborhood. Since most of the people are professionals and they prefer projects with modern amenities, builders are launching projects with modern and ultra-modern amenities. Such projects are offered at reasonable prices. The micro market mostly offers mid-segment projects and the professionals are the buyers here. Many projects come with international standards and contemporary amenities to offer a rich and modern lifestyle for the home buyers.

The multi-storeyed apartments are priced anywhere between INR 5300 per Sq. ft. and INR 8400 per Sq. ft. Most of the demand is for the residential apartments. The average prices of the residential projects in the area are INR 6850 per Sq. ft. Over the past five years, the micro market has witnessed price appreciation by 34 per cent.

The property prices of the locality increased by 85 per cent in the last 8 years. Investors who invested in those days have witnessed the maximum benefit. The property prices are still seeing a rise and the growing development in infrastructure and real estate makes the micro market an ideal destination for investment.

Many prominent builders have their projects in the micro market. Few of the top residential projects in the micro market from reputed builders are Crystal Towers by Paranjape Schemes Construction Ltd., Bella Casa by Rachna Lifestyle, Prakalp Pride by Prakalp Infrabuild & Development Pvt. Ltd., Puraniks Aldea Espanola by Puranik Builders, etc.

If you are a home buyer, looking to buy an apartment, then you can consider Crystal Towers in Baner. This is a luxury project, which offers 2 and 3 BHK apartments. This is a pragmatic luxury project with excellent amenities and specifications.

Author's Bio: 

Reshma is a writer who shares his views on Indian real estate through indiaproperty.com