Property Prices In Pune Promote Investment In The City

The property prices in Pune have gone up drastically in the last few years. More people are looking to invest in the city as there is huge demand for commercial and residential property in Pune. Builders of residential properties in Pune are happy with the ongoing trend. Unlike other cities of India the Pune residential property has seen stable demand. Affordable property prices in Pune have made the commercial and residential property in Pune an extremely attractive proposition for the buyers. 

Rentals of residential properties in Pune have also gone up in the last few years. This is another reason why people look to invest in Pune residential property. The setting up of IT parks has only fueled the demand of Pune residential property.  The city which was once known for its laid back attitude has now turned into a vibrant city thanks to the growing IT culture. More and youngsters are also now willing to shift to the city and buy residential properties in Pune. Things currently look very positive for this city as the investors are very optimistic about the city. Even at the current property prices in Pune people are looking to invest in the market.

Some credit for this trend should be given to real estate builders of property in Pune. Most of the builders are offering project deliveries on time as a result people are not hesitating to enter the market. There is high builder customer trust that has fueled the market of Pune residential property. This is another reason why many youngsters and first time home buyers are looking to buy residential properties in Pune. The city is known as an end-user friendly market as affordable property prices in Pune and timely possession of properties prove to be a boon for the real estate buyers.

Residential Properties In Pune a Good Investment Option

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Many people have invested in residential properties in Pune like Ulwe flats for sale due to rapid development in the area. Property rates in Pune are still quiet affordable and therefore many investors choose to invest here. Pune residential property like flats in Ulwe have sold like hotcakes in the last few months after the country saw an economic revival. Both end-users as well as investors find residential properties in Pune like Ulwe flats for sale a lucrative investment option. Time and again it has been proved that the city is at par or even better than most of the other metropolitan cities of India. 

Unlike other cities Pune has alot of green areas also the city is much better planned infrastructure wise. If one is buying a Pune residential property to earn a rental income then its an excellent though. Property rates in Pune are not very high yet one can earn a handsome rental income. This makes residential properties in Pune an excellent revenue earning option. 

Also with rapid infrastructure development like development of new international airport, new highways, roads, flyovers, etc. the demand of Pune residential property like flats in Ulwe has increased by several folds. But inspite of this the property rates in Pune are very much stable as there is no demand and supply mismatch. However the builders do have unsold inventories but with investors regaining confidence in the real estate market it is very much likely that the unsold inventory will get absorbed very soon. The city is also witnessing a good demand of luxury residential properties in Pune as well as integrated societies. It is expected that the city will soon see an escalation in the property rates in Pune as the demand of Pune residential property is only expected to rise in the future.

The Strengthening Factors for Pune Residential Property

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The rainy days that our Indian economy is seeing has affected its cities quiet too much, and Pune is not too far in experiencing the down-slide. Yet, it is due to its excellent power to bounce back that it has digested down the crunch too well. The healthy employment rate and its strengthen of economy that it is still seeing good number of investments as well as demand for residential properties. The prices in the city have seen an exponential growth, still there is no major blue funks in its demand market that could pull its leg too down.

According to Jones Lang Lasalle Pune, the market for Pune residential property is currently inclined towards budget and mid-bracket houses. A number of affordable projects are at work in localities like Ambegaon, Kondhwa, Dhanori, Manjri, and Hadapsar. Many of these areas have bolstered their economies with the strong presence of IT sector. As a result, in spite of the regression, the demand from all income groups, including the luxury ones, has continued to remain steady.

Residential property in Pune has several other factors too that have attributed to its sturdy pace. The city's connectivity via new roads, expressways and flyovers has made the city dwellers viable to commute to Mumbai and other cities in short span of time. Mumbai-Pune Expressway has accelerated to the hitherto slow pace of this city. Then, there is another rewarding factor that has kept the real estate market in robust state: in light of the increasing prices, long-term investors have shown their eagerness in rolling out their money.

Pune is the hot-spot of businesses of several types and sizes, which have rendered its realty sector both viability and strength to face the present financial crisis. There are several small to mid segment companies that are present in its precincts and aided to the interest of buyers in purchasing a india real estate property here.

2 BHK Residential Properties in Pune that Cost above 50 lacs

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Finding a 2 BHK apartment in the IT-driven city Pune is not a rocket science. Though there are a number of options available to the buyers, we are, here, considering 2 BHK residential houses that come at a price above 50 lacs. Such a range is mostly preferred by upper-middle class, who have small members to accommodate and have enough finances to spend on purchasing. The localities where a two-room apartment is available above 50 lacs are too many and generally cost up to a crore or even more.

2 BHK residential properties in Pune in the range 50-75 lacs are available; at localities like Vishrantwadi, Kondwa, Tingre Nagar, Chinchwad, Bhugaon, NIBM Complex, Rahatani, and Pimpri.
The slightly more upper-values for two-room flats can be expected in localities like Warje, Katraj, Market Yard, Ravet, Kharadu Bypass, and Bimbwevadi. In areas like Undri, Pimple Nikah, Dhanori, Wadgaon Sheri and Baner Road, such apartments can cost a buyer up to 90 lacs.

There are plenteous of localities in Pune residential property that carry two rooms and come at hefty rates. For example, the high in demand micro markets such as Baner, Viman Nagar , Kothrud, Singhad Road, Hadapsar, Magarpattta, and Aundh . Mot of these have good potential for employment generation and have flourished well over  years. The highest tags in most of these can go up to crores and even above. Examples are Karve Nagar, Singhad Road, Wagholi. At Kharadi, the highest price for a two-room flat can up to 3 crores!. At Koregaon Park and Kalyani Nagar, the two room apartment can go even up to 6 crores!!. And yes, there are takers too for the same. The per square feet rate (psf) in the above localities varies anywhere between 5000/- and 20000/-.

Makaan.com, the leading property portal, lets you search residential properties in Pune and other Indian cities. Search 1,2 . 3 BHK rooms in different price brackets. Look for price trends for Pune residential property and keep yourself informed of the changing scenario, month after month.

Real Estate Pune driven high by IT

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Pune has been acting as a nerve center of India's most distinguished and top-notch IT/ITES companies from several decades. Concomitant to this growth, or say born out of this boom is another sector that has been prospering well and plodding positively on the graph: Real Estate. To accommodate the rapidly growing populace, residential property in Pune got bigger so much so that today, it is seen as one of the lucrative markets for both buyers and developers. The regular need for residential and commercial spaces has resulted in better consumption rates as compared to the other cities. So, the demand-supply imbalance and the stocks of vacant inventories are not the major problems here.

As the city is largely inhabited by students and professionals relocated from different parts of the country, the demand for Pune property is predisposed towards multistoryed apartments.  The commercial property in the city has predilection towards HNIs (High Net-worth Individuals) who are eying on long term investments. At present, the real estate is facing competition from metropolitan cities like Hyderabad, Bangalore, and Chennai. Yet, the presence of IT hubs like Hinjewadi, Koregaon, and Baner has given it a definite edge over them.

Hinjewadi is seen as the micro-market for real estate Pune and employs more than 70,000 IT professionals. Housing almost all the major IT giants and multi-million projects laid down by international companies, the locality is a preferred choice for buyers. The property rate this July stood at Rs. 5269/ sq. ft, a 40% appreciation from last year. Hadapsar, another locality that is home to IT parks and seeing huge price rates. Over last 12 months, the price rates increased by a whopping 41%, with average price rate of Rs. 5185 psf (per square feet). A still higher rate is noticed at Pimple Saudagar, a locality near Hinjewadi.

The highest India property rates in Pune are found in Koregaon, a high-profile commercial market. With the present rate of Rs. 10733/ sq. ft., the place is out of the reach for average buyers. The other localities where real estate is seeing a steady growth are suburbs like Kothrud, Wakad, Baner, Viman Nagar.

Makaan.com is a avant-garde property portal based in India. Over here, you can find ready-to-move-in houses, resale properties, and under-construction projects from principal builders, developers, and land owners. The user-friendly search tool lets us locate the properties on the basis of several parameters like money, amenities, and age of construction.

Pune Property: High on Demand

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Pune, one of the prominent Industrial hubs of Maharashtra, stands at sixth rank in terms of per capita income. This metropolitan city houses major software companies and is highly preferred by IT professionals from all over India who flock here every year, attracted by the high potential stored in for them. The availability of  quality infrastructure has rendered this city a popular investment place for real estate agents, developers, land owners, and buyers. The property investment is going great here and in the years to come, it is likely to see a consistent growth.

The analysis of Pune property, as performed over a time span of last 12 months indicates that the price per square feet of the land has gone up by about 11.5%. From a figure of Rs. 5000 psf in last July, the price has increased to Rs. 5773 psf. Though not a considerable change over a year, the values indicate that the prices are indeed quiet high. But that does not stop buyers to plunge in. This is true for all those buyers who are willing to pay hefty amounts to buy their dream houses in the city.

Property Pune, if seen in terms of demand for luxury houses and villas, scores quiet high in the localities like Hinjewadi, Wakad, Baner, and many others. The price index in Hinjewadi, as seen from January, 2013 to July, 2013, shows marked variations. While the psf value stood at Rs. 789 per square feet in the beginning of this year and remained constant throughout the month of January, a sharp rise to Rs. 4218 psf from February was noted. The value remained constant till June, 2013 after which there was a further rise to 5360. Hence, for a period of 6 months, the % rise in price index was a whopping 586%!!

The property rates in the other popular loacality, Baner, saw a change of about 20% over 12 months. On the similar lines, in Wakad too, a raise of about 19% was noted during this period. This clearly indicates that Pune residential property is high in terms of demand by upper-middle and elite class in these areas. This phenomena is seen as windfall by the developers who see it as an opportunity to procure profits.

The buyers keen to try their hand at Pune property should note that they are not going to see any wide difference in terms of investment if they seem skeptical whether to buy a residential property or hire it on rent. This is because, in either case, they are going to spend more or less the same, If, however, they want a permanent residence, buying would be a better option.

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