Hinjewadi Phase 3 occupies the outermost segment of Pune's most consequential technology belt. It borders Maan village to the north and connects directly into the Hinjewadi Phase 2 fabric, placing it within the same MIDC-governed Rajiv Gandhi Infotech Park (RGIP) system that runs from Phase 1 westward across approximately 2,800 acres. The broader RGIP footprint spans three phases, houses over 800 IT companies, and generates employment for upward of three lakh people — figures published by the Hinjewadi Industries Association. Phase 3 itself carries the MIDC address pin 411057 and is reached primarily via Hinjewadi-Kasarsai Road and Mann Road, the two arterial connectors that serve as the locality's daily lifelines.
Being the furthest phase from central Pune cuts two ways. Peak-hour congestion at Wipro Circle and Hinjewadi Chowk — the chokepoints that slow Phase 1 and Phase 2 commutes — is partially sidestepped by residents based in Phase 3. The trade-off is that amenity density, while growing fast, still trails the more mature phases for some categories of daily retail and healthcare.
Rajiv Gandhi Infotech Park is the structural reason Phase 3 residential land appreciated by roughly 89 percent over the three years to early 2026, according to 99acres transaction data. The park's tenant roster spans Infosys, Wipro, TCS, Cognizant, Tech Mahindra, HCL Technologies, Accenture, Capgemini, Persistent Systems, and IBM, among several hundred others across the three phases. Phase 3 itself hosts corporate campuses directly — the Ascendas IT Park (CEDAR Building) and a Wipro facility both carry Phase 3 MIDC addresses, keeping walk-to-office commutes viable for residents who live within the same zone.
That employer density generates a sustained rental market. Average rental yield in Phase 3 Hinjewadi sits around 3 percent annually, consistent with the wider Hinjewadi micro-market, where rental demand from IT professionals keeps vacancy relatively low across well-managed gated societies.
The residential product mix here skews toward mid-segment and premium apartments, with the occasional plotted development. Current market data places the average asking rate for apartments at approximately Rs 8,500 per sq ft, while actual registered transaction rates average higher — around Rs 11,654 per sq ft according to Maharashtra government stamp duty data aggregated by 99acres. That gap between asking and transacted rates reflects the weight of new-launch projects with fixed developer pricing dragging the registered average upward.
Within this landscape, Godrej Evergreen Square — the Godrej Properties township on a 10.92-acre site in Phase 3 — has recorded 353 property transactions in the past year, the highest single-project transaction volume in the locality by a wide margin. The project (MahaRERA No. P52100078240) comprises 1,998 apartments across towers of 32 floors each, with possession targeted for October 2030. Godrej Properties' presence in Hinjewadi extends across multiple phases: Godrej Park World and Godrej Eden Estate operate in Phase 1, giving the developer a layered footprint in one of Pune's most transacted micro-markets. Nationally, the developer has delivered over 100 projects with roughly 52 currently under construction, according to 99acres builder data.
The single infrastructure event with the most direct bearing on Phase 3 real estate values is Pune Metro Line 3, the 23.3-kilometre elevated corridor connecting Maan (Hinjewadi) to Shivajinagar Civil Court via 23 stations. The project is being developed by Pune IT City Metro Rail Limited, a special purpose vehicle formed by TRIL Urban Transport (Tata group) and Siemens Project Ventures, under a design-build-finance-operate-transfer model approved by PMRDA in 2018 at a project budget of Rs 8,100 crore.
As of mid-2026, physical construction stands at approximately 94.58 percent complete and financial progress at 97.40 percent, per PMRDA's own project dashboard. Trial runs on the corridor have been completed and the process of obtaining safety clearance from the Commissioner of Metro Railway Safety (CMRS) is underway. The first phase of operations — covering 12 stations between Maan and Ramnagar (Baner) — is now targeted for July 2026, after several prior launch windows were missed. The second phase, covering the remaining 11 stations from Baner High Street to Shivajinagar, is targeted for October 2026. Stations directly relevant to Phase 3 residents include Megapolis Circle, Wipro Circle, and Hinjewadi Phase 3 station. Once the corridor is operational, it will provide the first rail alternative to the heavily congested road route between Hinjewadi and central Pune.
Before the metro, Phase 3 residents rely on three main road axes. Hinjewadi-Kasarsai Road and Mann Road are the intra-Hinjewadi arteries connecting phases. The Mumbai-Pune Expressway (NH-48) is accessible within roughly 20 minutes from Phase 3, providing intercity connectivity toward Mumbai and Lonavala. Hinjewadi-Aundh Road links the IT belt with Baner, Balewadi, Wakad, and Aundh — all of which carry established retail, dining, and healthcare ecosystems that Phase 3 residents use regularly. Chinchwad Railway Station is the practical rail option today, while Pune International Airport (Lohegaon) is approximately 30 kilometres away.
The locality's school options within a 2-kilometre radius include Ryan International Academy and Pawar Public School. Birla Public School and The Orchid School serve families willing to travel slightly farther into the broader Hinjewadi belt. For healthcare, Ayushree Hospital is a recognised nearby facility; more specialist care generally requires a drive into Phase 1, Phase 2, or Wakad. Grand Highstreet Mall, approximately 5 kilometres away, is the primary organised retail destination. Day-to-day grocery options have expanded as the area's population has grown, with Mataji Supermarket and Green Mart noted by residents as walkable options within the locality.
The buyer profile in Phase 3 is weighted toward IT professionals employed within the RGIP ecosystem who want to reduce their daily commute distance, and toward investors drawn by rental demand from the same workforce pool. The rental tenant base is relatively stable because large IT campuses operate multi-year contracts and employee populations don't shift quickly. End-user buyers — particularly those purchasing 2 BHK units — tend to be first-time buyers or couples at an early career stage, drawn by entry prices below comparable Baner or Wakad addresses. Larger 3 BHK configurations attract families who prioritise proximity to the Phase 3 MIDC cluster over central-city access.
