Pune Property: High on Demand

Real Estate at Makaan.com

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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Properties in Pune are becoming popular as investment destinations

Makaan.com

Buying a property in Pune as investment could fetch good returns in the coming years. With new development projects coming up in this city, real estate experts opine that it has become a hot destination for real estate investors who are interested in buying potential Pune property. Moreover, investors feel that buying a property cheap and selling it high is always a good investment. But to be able to do that in today’s property market, one should search and spot a potential property, and know the real estate market very well.

According to reports, in 2012, Pune real estate market performed well and property prices surged. So, investors are also hoping that buying properties in Pune could be a wise decision for future.

A good real estate investor would leave no stone unturned to find a property in Pune worth having a good value. Apart from approaching real estate agents, a smart investor browses various real estate websites to identify the right markets and potential of any property. The critical points that they consider while evaluating the potentiality of a property are:

• Existing infra projects

• Upcoming new infrastructure initiatives

• Social infrastructure

• Price trends

Because of the above mentioned aspects Pune has emerged to be as one of the top residential and commercial property investment destination.

With the upcoming infra projects in Pune, there will be massive job creation which will further fuel the price of Pune property. According to experts, job creation is one of the significant factors that will trigger the demand of the residential properties in Pune. So, realizing these potentialities investors are in a rush to buy properties in Pune.

Investors, today, have become much dependent on property websites while buying or selling properties. Reason? Real estate websites help investors to collect information related to Pune real estate and Pune property rates so that can take well informed decision while buying or selling. The sites offer comprehensive details related to properties in Pune and also help them in keeping updated on real estate news. It helps investors to find and spot hot property market in Pune especially about areas like Wagholi, Baner, Kharadi and Undri where there are upcoming changes.

The property sites are advantageous to search commercial, residential and resale properties in Pune that are offered at discounted rates. The best option made available is to filter properties according to location and budget, and compare the prices and amenities of the luxury properties in Pune.