Pune now has become the fastest growing cities of Maharashtra. Becoming the popular tech city of India, it is increasingly emerging as the most sought-after real estate market of the state because of increasing and massive arrival of multinational companies, BPO and IT Firms and student population are among others.

 

Pune is witnessing an upturn now because of the enormous advancements taking place in the real estate segment of the city resulting in increase of residential and commercial property in Pune where demands generated by mass arrival of companies and educational institutions.

Pune city have good climatic conditions and its proximity to Mumbai through expressway makes it extended and desirable suburb of Mumbai.The fact that Mumbai port is just a few hours away from Pune makes it an ideal manufacturing hub as well with circular connectivity to Nasik, Ahmedabad and Aurangabad.

 

Pune has won an additional accolade of being the ‘Detroit of India’ due to foreign car makers: Benz Motors Inda, Volkswagen, General Motors beside homegrown domestic leaders Tata Motors, Mahindra are among few who has already established themselves.

 

Real Estate Market of Pune has grown faster and the growing rates has multiplied in all parts of the city which includes the suburbs and the neighboring areas. Pune becomes the one urban zone involving the two largest municipal corporations: Pimpri-Chinchwad and Pune City acting as twin cities.

 

Pune’s infrastructure is getting better and better and becoming the leading industrial and business city due to the increasing move by corporates. Pune being the stable real estate market with consistent demand coming from a number of strong and dependable business sectors. The increasing demand for homes by IT/ITes and industrial employees most of the residential projects is being launched in Pune are concentrated on the north-western and south-eastern side.

 

Capital values of residential property of Pune market appreciated marginally since the last year and are expected to be firm next year. The growth of rental values is likely to overtake the capital values in short to the medium term. The substantial share of homes in Pune comes from migratory IT/ITes, student population and manufacturing sector employees. The steady increase in property prices makes it matured market with less down risk of investment.

There is a great demand of an affordable home between Punekars’ an ideal configuration are 1, 2 and 2.5 BHKs are in highest demand because of affordability factor considering high inflation and interest rate. The residential properties in Pune include options like group housing, flats, individual houses, apartments, luxury houses like villas, vacation homes, bungalows, penthouses and condominiums and thus facilitate for the accommodation as per requirements of people from different sections of the society.

Coping with the demand further newer housing projects are also being developed even at the peripheral locations of the city. Including the stylish, quality and self containing housing facilities like integrated townships which are self containing residential apartments facilitating for all the needs of the residents within the residential units itself including senior citizen housing as well.

PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in pune.