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.

Skyrocketing Property Prices Keep Buyers Away in Pune

Pune property at Makaan.com

Pune is a city of dreams that brings many people to its shores. But over the years due to rise in demand of real estate in Pune the property prices in Pune have reached a new high. Buying property in real estate in Pune, these days, has remained the sole privilege for the very affluent class, especially in the posh areas of the Maharastra city. Theproperty prices in Pune has swelled too much that it can burst any time now. Pune was a city that was supposed to offer the affordable housing to middle and lower-middle segments, who could afford to buy India property Pune, are ranking high in terms of price rates. What could be the reason behind such a catastrophic rise in rates?

The inflation that hit the Indian market recently resulted in an appreciable increase in the cost of construction materials like sand, cement, steel etc. To compensate for their invested money on these, developers started raising the rates. But they were not fair in doing so: they let the prices get appreciated alot, so much so, that the property rates in Pune gained a considerable raise in terms of prices. The greed of developers and builders, along with their nexus with political authority gave them ample freedom to appreciate the prices too much.

Seeing the hefty property rates in Pune, the demand for property in India Pune came to an all-time low. Even the middle and upper-middle income groups started wavering from their decision to buy. In spite of the fact that the demand dwindled, the developers did not lessened the rates. Instead, to bring back the customers, they came up with offers like freebies and small discounts. But this strategy of theirs has not brought any fruitful result. As long as the prices do not get corrected, it would be difficult to see the demand get any increase.

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.

2 BHK Residential Properties in Pune that Cost above 50 lacs

Pune Property at Makaan.com

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 in Pune the next destination of investors

Amongst various cities in India, Pune is also considered to be one of the most rapidly growing cities in terms of real estate investment venture. Pune is a small and beautiful city in western India but it becomes popular for investing real estate in Pune. With the coming up of new infrastructures the value of real estate Pune is expected to skyrocket and so investments could mean good returns. With such opportunities it would be wise to browse and spot a potential plot or apartment for investment.

Realty websites not only provides information on properties available for sale but also meant for lease or rent. Students can also make the most of such free services while seeking for hostel, mess or PGs. They do not have to visit real estate agents who levy commissions but can find a luxury apartment easily by directly contacting the owner with the help of these sites. Owners upload pictures and video on these sites of their apartments allowing visitors to view and choose. So, by opting for the services of realty websites you can avoid the trauma visiting real estate agents physically of finding apartments, plot or houses.

There are also several realty websites that offer updated information about resale residential properties in Pune for people who merely want to invest in real estate. So, whenever you like to undergo the option of Pune real estate investment venture, you should take detailed information from certain websites available online. Browsing and comparing attractive deals related to such investment by taking the advantage is a wise decision. Makaan.com, a fast growing realty site that intends to connect buyers and sellers, keeps it customers updated through alerts with specific to the requirements customers post on its website. Detailed information also related to resale properties in Pune are made available. It aims to connect buyers and sellers of real estate across the country just through clicks.

Realty website allows real estate buyers or sellers find attractive deals on residential and commercial properties according to their requirements. Buying and resale properties in Pune become a hassle-free experience with the help of such websites. With the coming up of large IT companies Pune’s residential projects are also growing and that makes Pune a lucrative investment destination. Individuals can also locate developers and builders that are coming up with new projects in major cities that are likely to be good investment option by taking the advantage of realty websites.

If you are new buyer or seller and intend to buy/sell/rent real estate in Pune then definitely you should consider the services of realty property website.