Pune, earlier known as Poona, is the second-largest city in Maharashtra. It is known as the cultural capital of Maharashtra and has been dubbed as Oxford of the East, owing to the presence of well-known educational institutions in the city. For several years, Pune has attracted students from all parts of India who came here for pursuing higher education. However, today, it is counted among one of the fastest-growing cities in India and a hot destination for real estate investment. And most investors come from the neighbouring city of Mumbai!
The thriving IT and automobile sector, greenery, pleasant weather conditions, safety, good educational institutions are a few key parameters that make property investment in Pune a hot deal. However, that is not all. There is more to it.
Pune Real Estate – 5 Key Factors that Make it a Golden Investment Destination
The real estate investment in the city has been fueled by the following factors.
- A Livable City: In 2018, Pune was declared as the most habitable city in India. This result was announced by the Ministry of Housing and Urban Affairs on the basis of four key parameters – physical, economic, and social infrastructure, and governance. This perhaps makes it a more lucrative place for real estate investments.
- Employment Hub: IT and automobile sectors are the key employment generators in the region. Most IT businesses are located in Hinjewadi, Kharadi, and Magarpatta. Of these three, Hinjewadi has emerged as the key IT location and it contributes to 60% of Maharashtra’s total IT exports!
Today, Hinjewadi hosts over 110 global companies who have set up their offices in Phase I, II, and III. There are several start-ups and growing companies, too. According to various estimates, Hinjewadi currently employs more than 1,50,000 people in different phases of a career. With Phase IV, V, and VI in the blueprint, these numbers are set to grow in years to come.
- High ROI – From Rentals and Property Appreciation: The growth of the IT sector in Hinjewadi has played a key role in the boost of the rental market in Pune. Why so? Because Pune is experiencing a huge influx of IT professionals from different parts of India. There has been a steady property appreciation in the last many years. All these will benefit, if you are planning to invest in Hinjewadi – the most preferred IT location of Pune.
- Infrastructure Boost: There has been a considerable growth in the city’s infrastructure, especially in nearby areas of Hinjewadi such as Aundh, Bavdhan, Kothrud, Pashan, and so on. Hinjewadi is known for its great commercial, civic, and social infrastructure – accelerated by amenities that fulfil all essential requirements of livelihood. There are several shopping and business centres, social hubs, active living avenues, nature trails, schools, restaurants, and hospitals in the area. The big bang is all these civic amenities are sprinkled near the IT zone.
- Limited Supply in a Growing Area: A job that offers the best work-life balance is always considered as a dream job. To achieve this, a professional needs to increase his productive time and cut down on distractions such as tiring travel time, traffic, and other chaos in life. This becomes possible only when they live near their places of work. Hinjewadi is one place that inspires its inhabitants (read people who work here) to strike a perfect work-life balance. There are housing projects in the area, that assure a big bang for the buck. However, their numbers are limited. There is a growing demand for luxury homes that assure all facilities of a modern home. This demand is perfectly met by Kasturi Housing who offer Eon Homes in Hinjewadi Phase III.
Conclusion: The suburb of Hinjewadi is connected to other suburbs of the city and Mumbai through Mumbai – Bengaluru National Highway and several internal roads. The suburb holds lots of growth potential in future owing to its SEZ zone and smart city location status. What are you waiting for? This is the right time to invest in real estate in Pune.