April 15, 2024

Jocuri

Mad about real estate

Housing Sector in Pune at its Best!

Pune is the second largest city of Maharashtra after Mumbai, the capital of the state. It is widely known for its top notch educational facilities that attracts students from across the countries like Eastern Europe, South East Asia, Iran and Middle East. It is also popular for its various cultural activities like drama, classical music, sports, literature, etc. It has a huge industrial base that has been growing constantly with many IT and automotive companies entering the city.

Pune is one of the fastest growing mini metros in the country that offers excellent housing facilities at affordable costs. If you are looking for investments in residential property in Pune, you may opt for apartments, flats, individual houses, group housing, luxury houses like villas, pent houses, vacation homes, condominiums etc. Among the commercial spaces are office complexes, business centers, technology parks and shopping arcades that are being developed rapidly in Pune. Also, one can invest in upcoming integrated townships that include state-of-the-art housing spaces, shopping zones, business centres and all basic amenities under one roof.

Some of the leading builders developing Pune residential property include Gokhle Builders, Naiknavare & Associates, K. Raheja Corp, Panchsheel Realty, Oberoi Constructions and various others. Other national developers are also gearing up to launch mega projects in this newly formed IT destination. These honchos have been constructing quality housing for the immensely growing needs of the property market. From students to professionals to realty investors, everyone is waiting to find housing in Pune. Pune is bustling with activities in real estate due to the flourishing of IT industry in the city.

After tapping the potential of property market in Bangalore and Hyderabad, IT industries have moved to Pune to expand their base. This move gave property builders an opportunity to explore the potential of Pune real estate and thus, tremendous commercial developments took place. Now, to cater to the needs of professionals coming to work in these companies from outside, residential property in Pune is required to grow exponentially. Also, huge demand from students has already added considerably to the urgent housing needs in Pune. This is why, rapid paced development in Pune’s residential segment seems to be the need of the hour.

The property prices in Pune have been constantly growing owing to the shortage of supply. The inadequate means of meeting the housing infrastructure demands has affected the property prices fuelling them up. They are now in line with prices of property in Delhi, Mumbai and Bangalore, the major metros in India. The appreciation in capital values in most residential and commercial properties in Pune has been tremendous. It had dropped down during economic slowdown to retain the investor’s interest but have sky rocketed again after the exit of recession. Some of the highly developing residential areas in Pune are Aundh, Baner and Kharadi.

Pune houses large number of educational institutions and multinationals that contain young crowd. It shows large number of employment opportunities in various IT and non-IT sectors, increasing the population of the city. The majority of spending crowd in Pune is aged 25 on the average which then creates demand for glitzy entertainment hubs like multiplexes and shopping malls. Retail trends in India have been changing and so, noteworthy growth in Pune retail market can be seen.

The residential property market in India is on an all time high across all metros and mini metros as well as smaller tier-III and tier-IV cities. It has been gaining maximum attention and developments from past few years and will remain the hottest segment in coming times as well. Apparently, residential property in Pune is on a roll.