In 2019, many Indian cities saw a downfall in housing prices. This was all due to consumer price inflation and changed socio-economic conditions. The good news is Pune is not among those cities! The real estate here is stable and going strong as compared to Mumbai – the neighbouring city, which has witnessed various sluggish phases over the years.
In recent years, Pune has become a favoured real estate investment destination for Pune-based home investors, owing to several reasons.
Here are the top 5 of them:
1. Better Employment Opportunities: Pune, the Oxford of East, has become a favoured destination for new tech start-ups in India. Surprisingly, it is also a favoured destination of over 110 leading global information technology companies, who have set up their main offices in Hinjawadi, with multiple offices in Kharadi, Viman Nagar, and other areas of the city. As a result, Hinjawadi has witnessed one of the fastest commercial cum residential developments in India.
2. High Appreciation Rate: With young, mid-and-senior level IT professionals from other cities making Hinjawadi their preferred base, appreciation rates in the area and its neighbouring areas like Wakad, Bavdhan, Baner, and Balewadi has gone up considerably. For instance, in Hinjawadi, the rates have gone up from Rs 5707/sq.ft to Rs 5818/sq.ft between July 2016 and January 2018 ( source: Makaan.Com). And it is all set to grow in coming years. This assures good ROI to Mumbai home investors.
3. Good Rentals: As well-known information technology and automotive hub, Pune attracts job seekers from across the country. This means that your home investment in Pune will assuredly bring you a good second income from rentals, as migrant professionals are always on the lookout for good rental homes. Luxury projects are a plus here.
4. Infrastructure Facelift: Pune is all set to receive a major infrastructural facelift. There are various projects in the pipeline such as Pune Ring Road, Bus Rapid Transit System (BRTS) on the Pune – Mumbai Highway, and the most prestigious- Metro Project connecting PCMC – Swargate, Vanaz – Ramwadi, and Hinjawadi – Civil Court. The Hinjawadi – Civil Court line Metro project has been included under fast track development. This is perceived as good news by Mumbai investors planning to make home investments in Hinjawadi and nearby areas.
5. Social Infrastructure: “Affordability, liveability, and improved lifestyle amenities are a few qualities that attract investors like me to this city,” says Sai Krishna, a Mumbai-based home investor. He adds, “ In the last decade, I have personally witnessed the facelift in the social and physical infrastructure of the city, especially around and near Hinjawadi. The lifestyle transformation coupled with ample work opportunities has accelerated my decision to invest in a premium apartment in this area.” What are you waiting for?
Bonus – Weather and Greenery: Pune has a moderate climate compared to the neighbouring city Mumbai, and most other cities in the country. This means, it never gets too hot during summer or too cold during winter, which makes it one of the most pleasant cities to live in. Sai Krishna says Pune weather makes him visit the place again and again, and the green covered mountains add value to the city landscape.
All this means that the city has much to offer than you think. It is now the right time to act upon the old saying – “Don’t wait to buy real estate, buy real estate and wait”. At such a fast pace, the real estate in Pune will become expensive in the future, so it is easier to buy a home in Hinjawadi (the most happening “IT” area) now, and appreciate its value over the years, rather than waiting to buy when it becomes extremely expensive.
If you are looking to invest in a property in Pune right now, Eon Homes by Kasturi Housing should top your list. Situated in Phase 3 in Hinjawadi, the project boasts of premium 2, 2.5 and 3 BHK homes, coupled with world class amenities. An investment in Eon Homes just cannot go wrong.
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