Pune has emerged as one of the favorite cities for investing in the residential real estate. Famed for the educational institutions and the picturesque localities, the city is a bustling metropolis with great places to live in, with entertainment and dining options to add to the excitement.
Owing to a surge in commercial and residential spaces, the Pune real estate marketplace has touched new heights. It is one metropolis where the housing property market has always maintained its momentum even during the difficult times. This city has been ranked as the best-performing real estate market in recent years. People buy residences in Pune with diverse purposes – for a living, investment, leasing or renting out.
End users cover a wide array of options to pick from most locations. They are in a strong position to negotiate with developers. They gain from the predictable long-term appreciation of residential estate as they had been buying property over extended periods that often spans generations. It is an ideal market for appreciation.
Some prime reasons why you should consider buying or investing in property in Pune.
1) Steady ROI over the next few years
Although the rate of appreciation of property prices in many areas of the city has slowed down in the past one year, there is still ample scope for steady capital value appreciation in the years to come. If you are looking for a suitable market, Pune is definitely a good option to invest in and gain in the long term.
2) Increased employment scope
Pune has been recognised as one of the best cities for education because of the reputed schools and universities. It is a flourishing commercial city with plenty of employment options – particularly in IT and ITes companies. Accessibility of land, relaxed lifestyle and pleasant climate make it a happening place. Growing employment potential in IT, manufacturing, education, healthcare and automobile sectors have accelerated the rate of growth. Its proximity to Mumbai works to its advantage. It has carved its own identity as a promising lifestyle and property destination.
3) Better physical and social infrastructure
The growth in the number of large adjoining areas of the city has led to a distinct improvement in the infrastructure within the city. As a result, infrastructural development has resulted in a raised demand for flats and apartments in the budget as well as luxury category. A consistent progress in multiple aspects has placed the city in the national spotlight. It is marching ahead with a vibrant growth culture.
4) Affordable residential projects
Pune is a safe bet for investment in residential realty. If you are averse to high-risk investment options, try this ‘mid-segment’ market and ensure complete peace of mind. Upcoming township projects are in huge demand. Pune is an incomparable realty market because buyers have numerous options to select from as per their needs. They could select a scheme depending on their funds. No other city offers such multiple choices. Some locations have changed because of the needs of buyers. There have been many innovations like luxury apartments, studio apartments at affordable rates except standard 2BHK and 1 BHK flats.
5) Knowledge hub
Apart from the established old schools, colleges, and universities the city was known for, the rise in the number of township projects and residential localities on the outskirts of the city has led to the setting up of several nationally and internationally accredited educational institutions in the city. This, in turn, has led to the development of social infrastructure in these zones. Parts of the city identified as the ‘outskirts’ a few years ago are now transformed into bustling localities within the city limits. While the older parts of the city exude a certain charm with beautiful old family homes, the new areas are ideal for students, young professionals and families looking for flats. Pune has plenty of young homebuyers. Improved paying capacity has augmented the demand for elegant spaces leading to the construction of luxurious homes. At the same time, affordable houses have become the priority for realty buyers. Property prices for luxury and mid-income level projects are relatively low vis-à-vis Mumbai. Pune caters to the necessities of budget home searchers as well as hi-tech property investors. The demand is not fully generated from within the city but from other cities like Nasik, Mumbai, and Bangalore as well.
Pune is one of the many hot destinations in the country. Buying property here will eventually prove to be a wise investment decision. With the vast expanse of greenery all around, lush ambiance and highly skilled workforce, Pune promises to deliver lucrative gains to those who build their nest here.
Invest in Pune, get yourself a Property Agent today.