In past few years, Pune has successfully placed itself as the most
desired location for the multinational companies due to its strategic location.
Pune lies on the edges of the state of Maharashtra and the real
estate projects in Pune
are in the booming stage. Even though the real estate industry is under severe
crises from past few years, however consistent demand from the buyers has put
the residential project in Pune on
the growth trajectory. There are several considerable factors which are
accelerating this growth story.
- Cheap housing
Loans- On the most
important factor which is making Pune a key position to invest is the low
rate of the interest rate at which the home loans are offered. As the
interest rates are quite lucrative here, buyers easily make their mind to
invest here and top of that Pune’s proximity to Mumbai makes it a good
deal.
- Improved
Infrastructure- There has
been massive development in terms of infrastructure. Land connectivity
within the city is far better now. Several prime Highways are touching
Pune and this is making it highly accessible place.
- Educational
and cultural Hub- Pune is
considered as the educational and the cultural Hub of the State. It has a
large number of reputed colleges and educational institutes and there is
an inflow of large number of students from all over India and because of
this, there is always demand for residential in this place.
- Thriving
IT sector-The
mushrooming IT sector is the primary reason which is driving the demand
for the residential spaces in the city. There has been a requirement for
various types of real estate in the city like commercial spaces, offices
and residential.
The real
estate in Pune has remained safe from the global economic turmoil and
the prices of the properties have been fairly stable. Even during the severe
dip phase there has been meager fall in the prices and it seems to be quite
stable now and it is all set to start a new journey. One of the top indicators
of this growth is that the demand for the residential is surpassing the supply
side. The property is emerging as the most attractive investment options in
Pune and thus it is driving both domestic and international buyers towards it.
The prosperity of this sector is further carried forward by the developers who
are investing a lot of money every year.
With all the glitz and glamor of any other large metropolitan city in
the country, along with property priced at rates which seem out of
reach to most. How does one go about making wise investment decisions in
a city as large, dynamic and diverse as Pune? Where can the average man
or women with a long term investment horizon buy property in Pune?
Many low to middle income households dream of owning 2 BHK flats in
Pune, such an investment would be ideal for a young married couple in
their late 20’s or early 30’s, especially if they have a family. Though
there are many locations in Pune where properties of this size are
available, they may cost well over 50 Lakhs with some being far
costlier.
Residential properties in Pune, though ubiquitous throughout the city
are still not large enough in number to comfortably house every citizen
of the city. This has led most flats in Pune to be priced much higher
than flats in other cities of a similar size as Pune.
So how does one go about looking for a 2 or 3 BHK Flat in Pune? One
effective way to look for homes in any city, not just Pune, is by using
the internet. The top property websites in Pune can easily be discovered
by using any search engine. Using such sites allows the user to compare
homes and builders with criterion such as size of the apartment and
amenities provided by the society in question.
Regardless of whether one approaches a property dealer or uses a
website, in the end the prospective real estate buyer may still need to
buy through an agent. The preponderance of such agents on the internet
is astounding, though the first page of most search engines usually
lists only highly reputable firms.
One of the top builders in Pune, Kushal Landmarks, offers high
quality 2 BHK flats in Pune for well under 30 Lakhs. The property
expected to be completed by 2017 has already appreciated by nearly 15%
since being launched. Among other high quality builders who sell
affordable housing in Pune are Areva, and Suravi Group each of whom has 1
or 2 BHK flats in Pune priced under 18 Lakhs.
An attractive location to buy inexpensive real estate in Pune is
Pimpri. Pimpri has a lively real estate market with many builders in
Pune constructing 1 to 2 BHK flats in the area. Among such builders in
Pune are Sukhwani and Waghere Associates. Sukhwani offers 1 BHK flats in
Pimpri all priced under 40 lakhs where as Waghere Associates is
constructing 2 BHK flats in the same location also priced under 40
Lakhs. The upcoming project in Pune by Waghere Associates is expected to
be completed by the end of this year and has already appreciated by
more than 7 % since being launched.
As the interested reader can see, there is no shortage of inexpensive flats in Pune Property
in Pune though more expensive than in other large cities like Bhopal
and Guwahati is still within the reach of the middle income segment of
India’s burgeoning middle class.
