Real estate properties have been a goldmine for investors from quite some time now. The growing population and rapid development of cities across the country have added fuel to the rising property prices in India.
Despite the fact that Mumbai, the biggest real estate market of India, is right next door, Pune has emerged as one of the most favourable cities for real estate investments. The second-largest city of Maharashtra, Pune, is famed for its educational institutions and quaint localities.
Based on the movement of residential property rates in Pune during the recent years, projects like ‘Western Avenue by Kolte Patil’ in Wakad have been identified as the most favourable destination for real estate investments by the industry experts.
Here are some of the reasons that make investing in real estate properties in Pune a prudent idea:
Increased educational and employment opportunities
Pune is known as the ‘Oxford of the East’ owing to the presence of many prestigious schools, colleges, and universities. Now, it is also a thriving commercial city with many IT industries setting up their offices and headquarters in the city.
This has led to an increase in demand of residential properties in areas like Hinjewadi, Marunji Road, Kharadi, Ravet, etc. and as a result, many new housing projects have been sprouting up in these locations.
Improved physical and social infrastructure
The social and physical infrastructure of Pune is getting better by the day, with many ambitious projects such as Mumbai-Pune Expressway, new international airport, third metro line, etc. waiting for completion.
The growth in the large peripheral areas around the town has also led to rapid infrastructural development within the city. As a result, areas like Aundh, Baner, Wakad, and Wagholi have seen a good surge in property prices in recent years.
Availability of residences for all categories
Pune properties have always attracted investors of all types, whether they’ve been at the lower end or higher, of the price spectrum. The real estate developers in Pune continue to launch fresh residential projects across all budget categories – be it affordable, mid-income or luxurious housing.
For instance, you can purchase a 2 BHK flat in Pune by investing as low as Rs. 25 lakh in the developing micro-pockets of the city such as Wakad and Hadapsar.
Steady ROI over the next few years
During the period of 2011 to 2014, the properties in Pune witnessed the greatest price appreciation among all metropolitan cities of India. This is mainly attributed to the developing nature of the city and an increasing influx of people from all across the country in search of better education and job opportunities.
Though the property prices in Pune were stable over the last year, it is expected to show a steady surge in the upcoming years, especially in a newly developed IT sector like Hinjewadi.
Abundant availability of housing properties
With the supply of residential properties being restricted in the prime locations of Pune due to the lack of land parcels, all reputed builders and developers of Pune are coming up with modern housing projects in developing outskirts of the city like Ambegaon, Undri, Chinchwad, Wagholi, and Wakad.
There is a large number of under-construction properties in these areas, making it easier for investors to pick and choose a preferable option for their investment.
For instance, if you’re looking to purchase a luxurious apartment in an affordable range, you can invest in projects like Kolte Patil Life Republic, which not only gives you a valuable piece of property that can generate high returns in the future, but also an opportunity to lead a luxurious lifestyle in lush green surroundings.