What Propels Pune Property Market?

Pune Property at Makaan.com

The twin city of Mumbai, Pune, has been what you the ‘consistent performer’ in realty market. Mumbai where the extortionate price rates have driven away buyers, Pune has well-managed to be in their good books. Unlike its over-congested counterpart, this city is relatively more open and more breathable. One of the main factors that have been responsible for Pune realestate property market’s steady growth is its IT/ITeS sector. Wakad, Hinjewadi, Aundh, Baner, Koregaon Park, and Kothrud are some of its localities where software giants have made their strong hold. This sector has created a multitude of jobs for its dwellers.  And add to that the number of expatriates from Mumbai and North India that flock here every year.

Apart from being the bulwark of IT companies, Pune is also popular among buyers for its subsistence levels. Even the high-end localities carry affordable prices for residential properties in Pune. Consider a 2 BHK flat across its prime localities. In areas like Hinjewadi, Wakad, Dhanori, the starting rates fall in 15-20 lakh bracket. In Baner, Undri, Kondhwa, Viman Nagar, and Hadapsar, the two-room apartments are available in 20-30 lakh segments. Compare these rates with those prevalent across posh localities of Delhi, Gurgaon, or Mumbai: there is a whale of a difference between them.

Pune also keeps the leverage of having an independent economy of its own.  There are zillions of electric, automotive, and electronic companies that Pune can boast of. Big names like Kirloskar, Mahindra and Mahindra, Volkswagen, and GM have their setups here. Hinjawadi IT Park, spread over 2800 acres, houses innumerable IT companies. The good demand for residential Pune properties and excellent connectivity have also played a significant role in keeping the realty market steady.