Pune Realty: An Emerging Hot Spot for Investment:
- Increase in business opportunities
- Increase in number of immigrants
- Ample job opportunities in service sectors
- Growing income levels
- Increased affordability
Factors That Have Contributed To The Rising Demand For Pune Real Estate -
Though the IT sector is biggest contributor to the rising real estate investment in Pune, it is by no means the only one. The growth of other sectors like manufacturing, automobile, service & education have also contributed in making Pune the top destination for real estate investments.
There has been considerable economic as well as infrastructural development in Pune in the recent years. Along with this the inflow of IT professionals & other qualified workforce has created a subsequent demand for affordable housing segments. some examples of the sunshine sectors which are attracting qualified professionals from across the country include – retail, FMCG, IT/ITES, hospitals, bio-technology and automobiles.
As Pune boasts a good number of residential projects in various parts of city, some of the places developed into townships for instance Magarpatta City, Blue-ridge, Nanded city, Megapolis and Amanora Park have become destinations in themselves. Townships -a larger development with built-in amenities and facilities- offering a better living standard are luring a large number of residential buyers from all around.
Going forward, a strong underlying demand would continue to aid an improvement in absorption levels in Pune. The Pune residential market is divided into five major markets namely Central, North, West, South and East Pune. All these zones have varied demands for residential real estate.
Major locations: Chinchwad, Akurdi, Pradhikaran, Talegaon, Chakan, and Ravet
North Pune is witnessing a tremendous amount of residential development activity. The area is coming up with many residential projects.
Major locations: Ambegaon, Katraj, Kondhwa, Parvati, Salisbury Park, Sinhagad Road, Mohammadwadi, NIBM, and Warje
South Pune is coming up with many residential projects and has become a hot destination for property buyers in Pune. It has resulted in appreciation of property rates in this part of Pune.
Major locations: Boat Club, Hadapsar, Kalyani Nagar, Kharadi, Koregaon Park, Wagholi, and Viman Nagar
Koregaon Park has huge growth prospects and is home to some huge residential development projects. Kalyani nagar is said to be one of the most sought-after addresses in the city.
Major locations: Aundh, Balewadi, Baner, Bavdhan, Hinjewadi, Kothrud, Pashan, Pimple- Saudagar, and Wakad,
Kothrud is considered to be one of the most preferred residential areas in Pune. The area has developed tremendously as compared to other parts of Pune. Attracted by this pace, developers are constructing complexes with the best of amenities.
Major locations: Apte Road, Bhosle Nagar, Deccan, Model Colony, Prabhat Road, and Shivajinagar
Earlier, there were no major residential developments in this part of Pune. This area majorly consisted of commercial spaces.
Market view – Pune
Which is the most attractive emerging real estate market in the Western India, in residential segment?-
Which is the most attractive emerging real estate market in the Western India, in commercial segment?-
Investment Opportunities in Pune:
Pune real estate market will continue to remain robust with a slew of new launches, innovative projects, quicker approvals and consistent demand from home buyers. These factors, together with the upcoming supply of projects at affordable prices, are expected to outpace the rate of absorption of the upcoming projects resulting in a steady real estate inventory in Pune. During the April-June 2012 quarter, Pune recorded the maximum increase in prices of residential properties among the 16 cities surveyed by the National Housing Bank (NHB). Pune recorded an increasing trend in the range of 10.5% in April-June 2012 quarter against the previous quarter.
A recent report by ASK Property Investment Advisers states that the outlook of the Pune real estate market remains bright, with property prices expected to clock an upward trend with a demand of 50,000 units in 2012. The report also states that the demand of residential units in the city will rise in the near future, driven mainly by factors including renewal in the pace of economic activity and migratory influx. Further, the city is also poised to witness a sustained demand of affordable housing units in the range of Rs 45-60 lakh.
The launch of new projects is in fact helping to keep real estate prices competitive and thus affordable. The residential market is moving briskly and both high-end and economy segments within the residential sector are doing well.Google+ image
Category : Flatons Advisors Blog