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.

The Emerging Hotshots of Pune Realty

Pune Property at Makaan.com

For many people in North India, Hinjewadi and Pune are just synonyms; the reason being that every year, a high number of young professionals flock to this locality in search of white-collared jobs. As the locality has in incredibly high number if IT companies, it seems to be the only real estate destination to migrants. But this is far from true. Over years, Pune real estate has seen flourishing of several high-growth nodes such as Kharadi, Baner, Wagholi, and several others. The blog lists top 5 localities that can be best bets for seekers of properties in Pune.

1. Baner: One of the prime suburbs of Pune, Baner boasts of a well-developed IT sector. IT is a major residential hub and offers connectivity to Mumbai Pune Expressway. The average price per square feet (psf) rate for residential apartments in Baner varies in 6000-7000/-. The locality witnessed an appreciation of about 3.5 % if compared to the last quarter of 2013.

2. Wakad:  Another important destination for seekers of Pune properties is Wakad. Being close to Hinjewadi, a suburb laced with Info Tech Park, Wakad has seen considerable growth in last one decade. The locality underwent a marginal 0.9% of price appreciation in first quarter of 2014.

3. Viman Nagar: An important IT destination, Viman Nagar is known for its rapidly growing price rates of residential properties. In next 5-6 years, the price rates are expected to see a whopping increase of about 40%.

4. Kharadi: Better known for presence of EON Free Zone, Kharadi is another prime residential locality in Pune. It strategic proximity to Koregaon Park and Kalyani Nagar has awarded it with residential and commercial importance. During Jan-Mar, 2014, property prices increased by 2.5% over previous quarter.