Pune is one of the prime real estate hotspots in India and the realty sector in this city has grown by leaps and bounds in recent years. The city has witnessed a rapid increase in the number of property launches and sales. Now that the main city is saturating, the development had spread over to the suburbs, with more and more developers and homebuyers eyeing these regions. Several factors have contributed to the growth of the realty sector in Pune and some of them are discussed below.
- Business prospects: Pune is a leading hub of commercial activities, thanks to the modern infrastructure and the locational benefits. As a result, commercial property in Pune is high in demand among entrepreneurs, companies and investors. Most important among these are office spaces, retail shops, showrooms, especially those that are part of modern projects. While many buy such properties to expand an existing business or launch startups, there are also investors who purchase them due to the potentially high returns from lease.
- Job opportunities: As leading companies have set up in Pune, they offer lucrative employment opportunities. The IT sector, in particular, has shown promising growth with the sophisticated tech parks attracting leading IT companies. The job opportunities act as a pull factor to draw in migrants from other cities, giving rise to a high demand for homes. Like commercial properties, investors also invest in residential units near the corporate hubs as many of the migrants seek rental homes there.
- Social infrastructure: The social infrastructure in Pune is very well-developed, offering every civic amenity that homebuyers usually seek. For example, Pune is known to house some of the best schools, colleges and engineering institutes in India. This enables the residents to secure a bright future for their children. The healthcare sector is quite promising too, with several reputed hospitals offering medical facilities. Pune comes with plenty of shopping malls, cinema halls, restaurants, parks and other necessary amenities. Additionally, those living in a residential property in Pune can enjoy superb connectivity features as the city comes with a well-planned network of roadways and railway. Public transport services in Pune are also quite reliable.
- Price trends: For property investors, price trends are one of the most important factors to consider. The property prices in Pune are on a constant rise for the last few years. This implies that if one purchases a property in this city, its value would increase considerably over time. As a result, the homeowners can enjoy a higher rental or resale value within a few years. This makes property in Pune a profitable asset for investors. As the demand for both commercial and residential units in Pune is high, finding tenants won’t be difficult.
Whether for investment purposes or end-use, properties in Pune offer a number of perks. Urged by the rising demand, a number of reputed real estate companies have come up with projects here. Propelled by all these factors, Pune has grown into one of the largest real estate hubs in India and is expected to remain one for quite a while.