Which are Preferred Localities by Young Investors in Pune Property Market?
As a way of investment, real estate has rapidly emerged that should ideally be on the top of the priority list of an investment. To start investing at young in real estate in city like Pune means your money has that much time to grow which leads higher returns. Preferred localities by young investors can be different by their requirements.
As per Housing Index Sentiments (HIS), in latest survey, the age group of investors are different but around 47% of real estate investors are in group of age between 28-38, most of youngsters and accordingly their preferred localities for property investment are different.
In Pune, the localities which are on saturation point like Aundh, Hinjewadi, Kharadi, Baner etc. are more preferred by youth. The reason or factors that attract the youth towards these locations are:
1. Infrastructure facilities and development potentials in that area.
2. Proximity to workspaces, Bus stops, railway stations.
3. Walkable distance to all the day to day necessaries like grocery shops, health centers, medicals.
4. Entertainment facilities like shopping malls, Multiplex etc.
5. Good Surrounding and neighborhoods in that area.
In current scenario, most of the young investors preferred to invest in area where the appreciation rate of property will be high in near future and indirectly they can get best returns on investments. Lets have a look on the top most localities in Pune preferred by young investors.
Baner is known for one of the IT centric locality in western Pune as it is very close to Hinjewadi IT Park, Aundh. It is located on off Katraj -Dehu road on Mumbai Pune express way. The property rate in Baner this year are around 4000-5500 per sq.ft.
Baner has an environment of green surrounding towards which young investors attract to invest within where there is relatively pollution free area. So, most of young investors which are in age group of 30-35 are keen to invest in such area where the rate of property price appreciation has been among the highest with good natural environment and surroundings in coming future.
Hinjewadi consists a mojor IT hub in Pune, Rajiv Gandhi Info tech Park. It is about 15-18km from Pune city and very close ti Pune-Mumbai expressway. The surrounding areas of this locality have many IT industries which is main reason for attracting youngsters.
Demand in this area for property is increasing day by day by most of IT and industrial employees which are in age group of 28-35 years. The appreciation rate in this area is growing fast as it 30-40% increased within year.
Aundh in both commercial and residential property market maintained its place as a number one. Aundh is one of the big established market in Pune city. It catches the demand not only from central Pune but from IT driven demands for homes close to IT hub, Hinjewadi.
As compared to Hinjewadi, Baner and western localities of Pune, Aundh is already become a well established in socio-fabrics.
Mumbaikars, local crowd of Pune, and young investors from IT industries from Hinjewadi are mostly keen to invest in properties in Aundh. These investors are like to invest in Aundh due to appreciation in value of property in that area. The rate have increased from Rs. 6000 per sq.ft. In 2012 To 8700 per sq.ft. in 2014.
Kharadi, located in eastern Pune has been increasingly attraction top IT companies due to its low pricing and proximity to prime locations like Kalyani Nagar and Viman Nagar. It is a fantastic place for investments as high returns are expected.
IT Park like EON has been attracting multinational IT companies which in turn is creating employment demand. It leads to increase the demand of housing by young investors. Kharadi offers both affordable as well as luxury housing projects. So there is wide scope to invest within.
5. Viman Nagar:-
Viman Nagar as eastern region is prime location for young investors as its proximity to entertainment hubs like Phonix mall, Inorbit mall etc. as well as it is very close to Air port, Kharadi IT park, Kalyani Nagar etc.
Property rates at Viman Nagar have been rising steadily over the past five years. The property rates at Viman Nagar range from Rs.6000-7000 /sq.ft,depending on exact location and project specifications.
Apart from these localities, there are some localities which can be best for long term investment like, from western region Balewadi, Wakad, Pimple Saudagar etc and from eastern region Koregaon Park, Wagholi, Hadapsar etc.Google+ image