In recent years, Pune has carved out a niche position for itself as a preferred location for individuals, corporates and multinational companies because of its location. Lying on the scenic outskirts of Maharashtra, Pune is blooming as a city. This has paved the way for the construction of several residential apartments in Pune. Today, the overall demand for residential and commercial properties in Pune is growing by leaps and bounds. The property rates in Pune were never as affordable as they are today. The ‘tech city’ has emerged as a lucrative real estate market and has become a hot property destination in India.
In this article, we aim to throw light on the factors that are motivating people to purchase a property in Pune.
Important Reasons for Looking at Real Estate in Pune
Buyers are making investments in residential properties located in Pune courtesy the lowest rates of interest offered by numerous banks, Pune’s proximity to Mumbai, the potential for massive growth in different sectors, etc. In addition, Pune offers the best possible infrastructure and has pleasant climatic conditions. Also referred to as the ‘cultural capital of Maharashtra,’, Pune has positioned itself as a well-established educational hub and boasts of an increasing number of colleges and other educational institutions. With students coming here from all corners of India and beyond, there exists a strong demand for various kinds of residential apartments in Pune.
The flourishing IT industry in the region is yet another reason that is driving the growth of residential properties in this city. The professionals employed in these industries need to find accommodation within the precincts of the city. This, in turn, has increased the demand for the construction of various types of residential facilities.
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These days, it is common to find various wallet friendly residential projects that have come up along the fringes of the city. There is an increased focus on these areas because of their high rental value. Obviously, property developers are embracing the opportunity with their arms flung wide open. The demand for high to medium budget housing properties are witnessing an increasing trend across Pune. This city was once famed as the ‘Pensioner’s Paradise.’ It was but a sleepy suburb that could be best defined as a town covered with greenery. Now, Pune has become a rival to India’s ‘Silicon Valley’, Bengaluru with regards to the IT sector.
Last Conclusion
If you have been looking towards investing in your dream home in Pune, then the right time to go about the act for property rates in Pune are at their most affordable. Start shortlisting the residential properties that suit your needs and budget alike – you will not be disappointed with the results.
