Both residential and commercial properties in Pune have earned the right kind of interest. The city has swiftly become one of the best places in India to live and sustain life. While numerous reasons come to mind to support this fact, we have noted the most important ones.
The coming professionals in Pune are not only demanding a superior lifestyle, but also good living. There is a growing interest in apartments for sale in Pune. The demand for luxury life has already caught up, and that is pressurizing the developer’s community to develop from old standards and build novel standards to match the demand. Here’s why Pune is a highly desired city in India:
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- The second-largest IT hub in the country
- Robust manufacturing base for Engineering and Automobile
- Ranks in top 5 FDI destinations
- Thriving startup place in the country
- Citizens and corporators work together for the betterment of the city
- More than 30% of students in Pune are employed in the town which has brought an employment revolution
Pune now is an ideal model neighborhood of sustainability and livability, which matches the global standards in the prime locations like Baner, Aundh, Hinjewadi, Balewadi, Bavdhan, and the city is now future-ready.
In this blog, we are highlight some critical points on the current real estate market in Pune and Pune real estate market trends. So read on to know all.
Employment Opportunities
Image Source: http://www.refact.org/employment.html
The number of multinational companies in Pune is rising every day, boosting the city’s employment rates and opening gates of opportunity for everyone. More service means more real estate demand and more demand means more attention.
As more people settle in Pune, they also boost the local economy and give jobs to local people with home services and businesses. And ultimately, attracts money for development and an increase in the standard of living.
Growing Suburbs
Image Source: https://redbrickoffices.com/coworking_space/Pune/Balewadi-High-Street
A vital indication of a growing real estate market in any city is the emergence of new suburbs around it. As many as four new hotspots- Baner, Wakad, Wagholi and have emerged around the city in the past few years; This has also led to an appreciation in Pune real estate rates.
Manufacturing hub
Image Source: https://www.carwale.com/news/mercedesbenz-hits-one-lakh-production-milestone-in-india/
Pune houses some of the most significant automobile, engineering, and electronics companies like Mercedes, Sany, Bajaj, etc. Improvement in infrastructure and ease in the movement has led to a massive warehouse stretch across the city limits. The logistics sector saw a massive boost in the first quarter of 2019 when private equity players like Morgan Stanley, Warburg Pincus, and LOGOS India invested nearly $200 million into cities like Bengaluru, Chennai, and Pune. All over the country, the increase in e-commerce players has led to the rise in demand for the warehousing sector, and Pune is benefitting from it and will continue to reap benefits in the future also.
Great Connectivity
Easy accessibility via an efficient transport system enables easy commuting for lacs of professionals who have to frequent between their homes and workspaces regularly. The Pune Metro will also soon complete its construction and multiply the ease of travel in and around the city. In addition, the Mumbai-Banglore highway helps easy freight logistics and easy leisure travel.
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An Assortment Of Projects Across All Categories
The builders in Pune are focusing more on completing their existing projects, rather than introducing new ones. As a result, this is serving as a golden opportunity for the fence-sitting home seekers and investors to take the plunge in the real estate market of Pune. Also, there are multiple options available from affordable housing to mid and luxury housing. Therefore, buyers can grab their dream house within their budget limit.
A Small Comparison To Hyderabad (The Other Major Real Estate Hotspot)
- Infrastructure: Hyderabad boasts the best infrastructure amongst the other cities like Mumbai and Bangalore. While Pune having an inherent advantage, has not come forward in infrastructure development in previous years. However, the soon to come Metro project and the Mumbai-Pune expressway holds the potential to alter this fact.
- Inventory: Pune has a mix of old and new inventory of residential and commercial real estate, which raises a question of up-gradation on many fronts. While Hyderabad houses mainly new properties, hence the question of upgrading the stock does not adrift.
While Hyderabad has taken the lead on the IT side, tax-free zones and major settlements of IT companies have infused a strong belief in experts’ minds that Pune might take over and holds the potential to lead also.
Conclusion
With a 9th rank in the most populous cities in India, Pune has become a festival of new real estate projects and home for new homebuyers looking for stable residential and commercial real estate options. From studio apartments to luxury villas, Pune is on top of the list of many national and foreign realty investors.
In the global evaluation of cities according to better living conditions, Pune ranked 145th (2nd in India). Well, citizens across India are now looking at Pune as the best livable city and you should too.
In case, you are looking for upcoming residential projects in Kharadi or investment-worthy homes in Kharadi, Pune, do not look further than Zen Estate by Mahalaxmi Group; This is a residential complex of the year 2020 and also a winner of ‘Best Project In Kharadi’ award. Come to Zen for premium riverside 2 & 3 BHK Homes and get a peaceful life forever.
Visit www.zenrealtyindia.com for more information.
