Lonavala residential bungalow sold for Rs 1.6 crore
LONAVALA (PUNE): A residential bungalow, spread over an area of approximately 3,300 square feet, was sold for Rs 1.61 crore. The bungalow is part of a villa development project and offers to its residents a plush four- bedroom unit.
Holiday homes in the locations of Lonavala and Khandala (which are almost equidistant from both Mumbai and Pune) have been receiving interest from investors and second-home buyers. This is partly because the infrastructure in these areas has greatly improved with more amenities like electricity and water supply and better accessibility.
With a capital value of about Rs 5,000 per squarefoot, most current purchasers are likely to see good appreciation in the medium to longterm.
However, in the shortterm, given the current supply which seems to be moderately higher than the demand in the location, values and volume of sales are likely to remain consistent.