Real estate in Pune has witnessed tremendous development in the past two decades with companies entering into the space and setting up their bases in Pune. The city houses a number of giant IT firms, blue chip companies and multinational corporations that pull a huge crowd from different parts of India who come in search of better job opportunities. Pune, being the cultural epicenter of Maharashtra has earned the name of ‘Queen of the Deccan’. This beautiful city is surrounded by hills from three sides; and spread over an area of 146 square kilometers comprising approx 40 % greenery. The awe inspiring weather with soft drizzles all round the year adds to the beauty and charm of the city.
Apart from the amazing weather one significant factor that has fuelled the demand of real estate in Pune is the excellent educational facilities. 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. The city has turned out to be a promising real estate investment destination in India, providing an excellent investment opportunity.
Robust physical and social infrastructure – The growth in the number of large peripheral areas of the city has resulted into a significant improvement in the infrastructure within the city. Initially the development was only limited to central areas of the city but now remarkable progress can be seen in outer areas too. This has increased demand for apartments in Pune. The city 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.Captured below are two emerging hotspots in Pune that make an amazing investment destination.
Located in west Pune, close to the Hinjewadi IT Park, Wakad today, is considered to be the best bet for those looking to stay closer to Pune as well as Mumbai. The area offers easy accessibility to Mumbai and main parts of the city, through the Mumbai-Pune Expressway and internal roads. Due to fine connectivity and presence of prominent companies in close vicinity, the location witnessed huge demand of residential units from working professionals. Wakad is also conveniently placed with Hinjewadi, one of the biggest IT markets of Western India with high population.
Hinjewadi is situated on north-western side of Pune. It is well connected to NH 4 and NH 50. The location has evolved into one of the biggest IT parks of Western India over the last few decades. It is a home to Rajiv Gandhi Infotech Park and large IT companies. The overall job market of Hinjewadi is around 350,000, which is expected to double in the coming years.
With the emergence of promising investment hotspots in Pune, great number of people are showcasing interest to buy apartments in Pune.