Why Invest in Pune?
Pune has emerged as one of the most favourable cities for investing in residential real estate in the year 2015. The city, famed for its educational institutions and quaint localities, is now a buzzing metropolis with great places to live in, and several options for entertainment and dining. Based on the movement of residential property rates in Pune over the last year, around 7-9 localities have been identified as being the most favourable for price appreciation by leading financial journals and industry experts.
Here are some of the reasons why you should consider buying or investing in property in Pune:
- Steady ROI over the next few years – While the rate of appreciation of property prices in most areas of the city has slowed down over the past year, there is still scope for steady capital value appreciation in the years to come. However, in a few newer areas of the city like Hinjewadi, there was a growth in price appreciation.
- Increased employment opportunities – Pune has always been known as one of the best cities for education because of the number of prestigious schools and universities here. It is now also a thriving commercial city with abundant employment opportunities, especially in IT and ITes companies. Real estate in areas like Hinjewadi, Marunji Road and Kharadi, where most of these companies are based, have a seen a positive trend over the last year and a number of new projects in Pune have sprouted up.
- Improved physical and social infrastructure – The growth in the number of large peripheral areas of the city have led to a marked improvement in the infrastructure within the city. Initially only limited to central areas of the city like Bund Garden, M.G Road, Koregaon Park and Deccan, now the outer areas of the city like Aundh, Baner, Pashan, Wakad, among a few others, also enjoy good infrastructure which has led to increased demand for flats and apartments in Pune.
- Affordable residential housing – Pune is still considered as a safe option for investment in residential realty, and has enjoyed a constant year-on-year appreciation rate. Especially for those who are averse to high risk investments, property in Pune is a great option! It is largely considered a ‘mid-segment’ market, and upcoming projects in Pune like townships are in great demand. Areas like Magarpatta City, Baner and Chinchwad have seen a high rate of absorption in residential housing.
- Knowledge hub – Along with the established old schools and universities the city was already renowned for, the increase in the number of township projects and residential areas on the outskirts of the city has led to the development of several nationally and internationally accredited educational institutions in the city. This in turn has led to the development of social infrastructure in these areas. This is most notable in residential areas like Baner, Wakad, Viman Nagar and Hinjewadi.
Real estate in Pune is growing as quickly as the city itself! Parts of the city that were considered as the ‘outskirts’ a few years ago are now thriving localities with new options for dining and shopping cropping up very frequently. While the older parts of the city boasts of beautiful old family homes, the newer areas are perfect for students, young professionals and families looking for flats in Pune.