Why Pune is the Next Hotspot for Real Estate Investors

Of course, all eyes today are on the Pune real estate sector and why not? It offers great balance of affordability, quality and growth prospects which is why Pune real estate holds huge appeal for all those who are looking to invest in Indian property market. The revival of this gorgeously growing city has too many reasons like, it is an IT hub, Pune’s Climate, and major development in Infrastructure. In this blog post, we shall delve deep into the attractive pricing benefits and growth prospects that have made Pune a hot bed for real estate investors in 2020.

Pricing: One of the Bargain Exercises with Subsequent Upside

Residents in Pune have a range of options that are not as high-priced compared to the larger metros such as Bengaluru and Mumbai. For example, a 2 BHK unit in Pune costs an average of Rs 70 lakh while it is priced at nearly Rs 85 lakh in Bengaluru and over Rs one crore in Mumbai. Pune offer a good investment opportunity with per square foot pricing at roughly Rs 7,175. Given Pune is still a growing city and as long as the demand for housing remains steady, in terms of capital gains it appears promising over the longer term. For investors who jump into this market now, they can ride some of this wave BEFORE prices soar again!

Delightful Weather Conditions Contribute to Making it All the More Attractive

The climate in Pune is pleasantly mild summers and cool winters — unlike some places with blazing heat or frigid cold. Beside improving quality of living, good environment is also appealing to educated working professionals in IT and education as well with towns student under the job titles within finance. The climate in the city indeed increases its appeal amongst renters and those considering purchase — which is a win-win situation for investors.

Pune: A Thriving IT Hub

One of the major developments that has taken place in recent years which explains closely linked with Pune property is happening at an unprecedented pace, it is IT industry. Location :The capital city which boasts of having a long list of IT parks and multinational corporations, mostly located in well-known places like Hinjewadi, Kharadi etc. The increase in population naturally led to a surge on demand for residential as well commercial properties making professionals flock into the city, thus flooding all regions of Gurgaon that work close-by. The values of the real estates have grown significantly in these areas, Hinjewadi being a prime example with property rates shooting up by 23% and an average rate per square foot cost Rs.3200 to Rs.9300-11000 (for phase 1). In the last one year, Baner has recorded 20% price appreciation as well which underlines traction in important IT driven locations.

Civil Engineering Projects That Promote Growth

One of the prominent reasons is driving real estate market demand in Pune, improving infrastructure development. These projects will together enhance the overall connectivity across different parts of the city; also, Pune Metro project as well upgraded road systems and upcoming ring roads are predicted to provide ease in commutation. Pune International Airport — A world class international airport has been on the expansion plans which will make it easier for Pune residents to travel as well as investors coming in. This does not only ease up travelling within Pune but increases property value as well resulting in an elevated standard of living.

Key Areas to Watch

There are various investment hubs in Pune that have become increasingly popular due to tedious IT parks, educational institutions and other essential requirements. Koregaon Park, Hinjewadi, Wakad, Baner and Hadapsar Pune Residential & Commercial Hubs (top established locations in New Area): The new areas located at the prime spots of Kharadi are also known for their high demand for both residential and commercial purposes. Areas like Wagholi, Undri and Talegaon are upcoming locations that provide affordable housing without compromising on appreciation. Having said so, these localities are expected to receive a higher number of residents as Pune population and infrastructure grow in the later years resulting in increasing property demand.

Koregaon Park: With a friendly neighbourhood vibe and all conveniences at an arm's distance, this locally remodelled area is one of the best bets for investors as well as residents.

Hinjewadi: IT parks in Hinjewadi has increased real estate to 23% growth at some places.

Baner: there has been a 20% increase in property prices here over the last one year, reflecting a healthy demand.

Kharadi: Situated in close proximity to major IT hubs, Kharadi still remains a favourite for real estate both on the commercial as well residential fronts.

Emerging Areas: Wagholi, Undri and Talegaon have less property rates and high chances of long time appreciation.

The Dividend Potential of Real Estate in Pune

Business or investing in pune real estate market can provide good returns on your investment, as demand there is very high and promotes the capital appreciation over a period of time. Pune comes with a mix of affordable prices, strong infrastructure base, high IT influx and good weather conditions for those in search of an investment destination that is stable but promises high growth. Even with the price increase, it may be fair to say that if a newcomer investor position himself properly now, at least 6 month before anyone begun their speculation in Vancouver's case for example he can still enter Chongqing market before any bubble.

Conclusion

The booming real estate market in Pune is a potent mix of reasonable pricing, increasing demand from the flourishing IT industry, salubrious climate and upgradation of infrastructure. Pune has been a steady growing market destination and hence an ideal choice for real estate investors, as with Pune having steady growth path. Pune is a market that caters to all the requirements of an investor who wants high potential returns but with some immediate earnings and Pune does not disappoint this kind on investors. Pune is all geared up to establish itself as one of the most promising real estate zones across India at it changes with times.