Pune A culturally diverse city has been luring people into settlement with real estate investment showing a positive upward trend. The greatest advantage of settling in Pune is its conducive weather. Adding to this is the fact that Pune has become a potential IT hub.
IT parks, SEZ’s, Malls, Multiplexes and huge commercial spaces have sprung up in large numbers over the past few years. Pune homes good quality infrastructure, lush greenery, Industries, Commercial spaces and residential apartments bestowed with basic amenities like hospitals, banks, schools within reach. The city has seen massive expansion and growth in terms of employment, real estate and infrastructure.
Pre requisites of investments are that the returns on investment should be promising. A cosmopolitan city with all the basic amenities and a growing Industrial, Commercial and Educational hub is the definitely an investors’ paradise.
The reason for Pune to be thronged by investors is attributed to the flourishing IT sector that has opened up innumerable job opportunities. A good environment for living, better prospects for employment and guaranteed appreciation on property value, all this sums up to soaring real estate prices in Pune. Apart from this, Pune has ample entertainment and recreational hot spots like Theatres, Shopping Malls and Multiplexes.
Religious places like Narayanpur, Bhimashankar, Alandi, Shirdi and Pandharpur are places of worship thronged by thousands of devotees from all over. Picnic spots like Alibag, Mahabaleshwar, Sinhagad, Lonavala, Khandala, Matheran, Panchgani attracts large number of tourists as well as people from nearby localities. A city like Pune with such places of interest in close proximity is sure to attract buyers in very large numbers.
When the criterion for investments is satisfied just the question of investing in a good property remains. The builder reputation, cost, proximity to basic necessities, realistic loan facilities is all that accounts for in property buying. The cost of property has shown drastic increase over the past few years. Properties in Pune have been bearing an exorbitant appreciation value. The property purchased two years back, in prime locations, is almost double its cost now.
So if you have invested at the right time you will be reaping greater monetary benefits as far as property investment in Pune is concerned. Putting your money at the right place at the right time is the strategy that investors in Pune have been following since the advent of real estate boom.
The areas that have developed dramatically over the years are Aundh, Hinjewadi, Baner, Wakad and Hadapsar. Close up are areas like, Pimpri-Chinchwad, Ravet, Kharadi, Warje ,Thergaon, Pashan and Mundhwa. Talegaon, Kanhe, Urawade, Bhugaon, Pirangut and Mulshi seems to promising new areas for investment in Pune. New residential properties like 1bhk, 2bhk, 3bhk flats, Villas, Penthouses, Row houses and commercial office spaces are in huge demand in these areas.
Properties for resale are equally higher in demand if we consider prime real estate locations in Pune. Buyers are ready to invest in properties that have been put up for resale at reasonable prices in central locations of Pune. The returns on property investment is equally assuring in case of resale properties.
Be it Baner,Aundh,Pashan Hadapsar, Kondhwa, Talegaon,Ravet, Kharadi, property rates have been reaching new heights.If you are planning to pick a newly constructed flat in Hadapsar the price per sq.ft would aprox Rs.2000-5000, in Aundh its around Rs.4800-6500 and in Wakad approximately Rs. 2700-3500. These prices differ vastly for areas that are on the outskirts of the city where price per sq.ft is around Rs.1200-2200.
Prices are said to be stabilizing after a sudden artificial hike over the past six months. Properties in Pune seem to exhibiting a different trend in different locations having a good appreciation value. Based on the location newly constructed or property for resale, prices tend to rise in that proportion. A recent property market overview suggests that the average price per sq.ft for apartments in Pune is around Rs.4300 whereas for plots it’s around Rs.2370.In the upcoming years properties in Pune will be of much higher costs and greater appreciation value. The real estate scenario here in Pune exhibits potential for incessant and optimistic growth in the next few years.