The real estate industry in Pune has witnessed a rapid growth, with more and more people investing in this sector. A number of residential and commercial properties have been developed in this city, which match the dynamic lifestyle of Pune. One of the reasons why buying a Property In Pune is becoming a trend among investors is the lucrative prospects. Pune being a major educational and IT hub, people from across the country migrate here, creating a high demand for rental homes. This has prompted investors to purchase properties in Pune. The city has an advanced infrastructure which supports the development of residential hubs while creating a corporate environment at the same time. This attracts a number of leading companies from different sectors, which in turn promotes the development of commercial projects.
Investment in the real estate in Pune
As discussed earlier, investing in real estate properties is a smart way to amass wealth. When you buy apartments in Pune, you can easily rent them out for a reasonably good amount of rent. The returns you would earn in the form of revenue would be quite profitable. The high-end homes developed by esteemed builders can earn high rental revenue. As for the commercial properties, Pune always has a high demand for commercial office space, which implies that you can easily find high-paying renters. Several reputed developers have developed modern complexes that offer an excellent infrastructure and help a variety of businesses and companies flourish well. You can rent out these spaces to leading brands from whom you can earn lucrative revenue.
Social infrastructure in Pune
One of the key reasons behind the demand for residential property in Pune of the residential sector in Pune is the reputed academic infrastructure of this city. Here one can find some of India’s best schools and tech institutes. The tech institutes in Pune attract students from across India to migrate here. The city also has a well-developed healthcare sector, which is a factor homebuyers always consider before buying an apartment. The city has a well-planned network of roads, railway and metro that ensure a quick connectivity to the important hubs. Pune brings excellent recreational facilities like cinema halls, shopping malls, parks, etc. The city has a clean environment and an impressive green cover which promotes a healthy lifestyle in the midst of nature. This makes it a wise decision to buy flats in Pune as one can enjoy great convenience on a regular basis.
Reasons behind the growth of real estate in Pune
The rapid development that Pune witnessed over recent years is the key reason behind the growth of the real estate sector. As discussed earlier, the social infrastructure makes Pune the perfect place for a residential hub. The city is well-connected to nearby cities and also has an international airport, which is a major business prospect. One can enjoy seamless import-export facilities, which has helped the commercial sector to grow well. The alluring business prospects have led to the high demand for commercial property in Pune, helping the real estate sector grow fast. Investments in these properties are turning out to be quite profitable, which has resulted in an increase in the demand for homes among investors.
Should you invest in a property in Pune now?
Just like any other sector, the price trend in the real estate industry varies with demand. With the demand for properties in Pune high and rising, it is expected that the price of property here would rise considerably higher soon. This makes now the best time to invest, as you would get it at the best price if you make the purchase before the costs rise any further. Moreover, if you buy an apartment or a retails shop in Pune, you can resell it for a high profit after a few years. This again, makes investing in these properties a wise decision.
Economy and industry
Pune is mostly noted for its IT sector. In fact, the industry is growing rapidly, thanks to the advanced infrastructure offered here. The city offers the necessary corporate environment and the commercial projects bring workspaces with a healthy atmosphere. This results in an increase in productivity and helps the IT sector flourish quickly. A number of MNCs like IBM, Wipro, Zensar, Infosys, etc. have expanded their business to this beautiful city and offers alluring employment opportunities. With plenty of jobs available, Pune has naturally witnessed economic growth. After Maharashtra, Pune has turned out to be the 2nd highest contributor of GDP. Other than the IT sector, the tourism industry and the business sector has also played a major role in the economic development of this city.
How would be the sector after 5 years
With the real estate in Pune growing on a positive trend, it is expected that the industry would grow immensely in 5 years. Some of the most reputed companies have been developing projects in this city, which is a clear sign of growth of the real estate industry. The high-end homes and penthouse projects attract the aristocratic community of the society to move here to lead a luxurious life. This has led to high standards and a healthy ambience in Pune. All these factors, even if indirectly, contribute to the growth of the real estate industry. With more and more investors buying properties, the developers are finding great incentive and sufficient capital to build a property for sale in Pune, thus making the industry gain a stronghold in this city. The introduction of the Real Estate Regulatory Authority (RERA) has been a major progress. MahaRERA has been carrying out a good job so far, keeping both developers and buyers satisfied. The organization has been efficiently protecting the interests of both sides. This encourages the property buyers to make the purchases without being stressed about the delay on the part of the developer to deliver the homes on time. On the other hand, with RERA looking after their interests too, the developers are feeling more confident to undertake big projects to build a properties in Pune which indeed is a positive development for the real estate sector.