Why Should You Invent in Pune Real Estate?
Published on: 18 May 2024
Pune - Maharashtra's second-largest city, also known as the state's cultural capital - has grown into a hotspot for real estate investment. The most significant aspects which are adding to the city’s appeal are the rising education and information technology businesses, ideal climatic conditions and growth of economic factors. With the city's job opportunities growing by the day, a large number of people from all over India, too are relocating here. Investors, on the other hand, are seeing Pune in a new light as an appealing and profitable place to invest in, for residential and commercial purposes.
Many factors have contributed to Pune's emergence as a thriving metropolis and this has had the most favourable impact on the city’s real estate market - in both the private and corporate sectors. So what makes Pune one of the most desirable cities to live or invest in? Let’s explore.
Returns on Investment
Pune has drawn foreign investors for resale property and property investment throughout the years due to its consistent capital attraction. Though a price escalation has only occurred in a few areas of the city, Pune still remains a sturdy market with a large number of property buyers and sellers. According to recent reports, the city's low-cost housing sector (1,1.5 and two-bedroom flats) accounted for 44% of new supply in the third quarter of 2017-18, with units priced below Rs 40 lakh.
Opportunities for employment
Pune is a popular location for job seekers, especially bachelors wishing to start a family, given the city's developing IT industry and growing career opportunities in these fields. With a slew of well-known schools and institutes offering top-notch educational standards in terms of education, the opportunities for employment are ever growing.
With good socio-economic growth of the city, suburban areas like Viman Nagar, Wakad, and Hinjewadi are emerging with a range of residential complexes along with national and international educational institutions. This has raised the standard of living considerably while also offering ample working opportunities for various sections of the society. The city is transforming into a thriving employment hub with a variety of career opportunities, notably in the IT and ITes industries.
Flow of funds
Unlike most other investments, real estate properties generate constant and predictable cash flows. With Pune’s growth as a technological and automotive hub, a growing number of professionals are migrating to the city in search of livelihood. By offering housing to such migrant populations, home-owners and investors can surely make a profit due to the high demand for affordable accomodation.
The infrastructure of the city
The city's physical infrastructure has grown significantly as a consequence of growth on the periphery of M.G.Road, Koregaon Park, and Bund Garden. Even the suburbs of Pune, such as Pashan, Wakad, and Aundh, have well-developed infrastructure, resulting in a spike in demand for studios and apartments.
Pune is linked via air, train, and road to other cities and international locations. Internally, PMPL (Pune Mahanagar Parivahan Mahamandal Limited) operates a city bus service that makes it easy to travel within and outside of the city, adding to the convenience of living in the city.
Easy Accessibility
With the majority of places being easy to reach, travelling within Pune is simple and cost efficient. Travelling from one end of the city takes about 1–1.5 hours, various modes of transportation make the commute easier for the majority of the population. Adding to this, the city's overall link by road and metro will be improved even further with the completion of the new Metro project.
Livability
Pune is one of India's most livable cities, according to Mercer's 21st annual Quality of Living Rankings. This is often the only place where you can see modern India, where tradition and modernization are nearly indistinguishable. Pune is also adjacent to other rapidly developing cities such as Kolhapur, Solapur, and Nashik, making it easy to live within & travel about.
Pune is set to undergo a dramatic makeover with the construction of projects such as the Pune Ring Road, the Bus Rapid Transit System (BRTS) on the Pune–Mumbai Highway, and the most prestigious-the Metro Project linking PCMC – Swargate, Vanaz – Ramwadi, and Hinjewadi – Civil Court.
The influx of job-seekers has resulted in the appreciation of real estate rates. This is also highly influenced by the establishment of IT hubs in the city. Due to the above & several other reasons, Pune is sure to be on the top in the list of investment - favourable locations.
We surely hope this trend continues and the graph of Pune's growth continues to improve over the next ten years.
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