Pune has been a growing city in terms of real estate. The city is considered one of the most rapidly-growing cities in the country and is on the list of top 100 cities for growth in the real estate sector.
Pune is known as an IT hub in the country that has led to its rapid expansion. The housing industry has evolved a lot in the last five years. Although there has been a fair share of shake-ups in the market, the city has succeeded in balancing things out and stood as a clear winner in these critical situations.
This ensures us that in the coming years, the real estate market of Pune will be wonderful and productive with new innovative ideas.
In the last 50 years, the city’s population has grown by more than five times. The population growth has boosted a lot of its economic activity. The decadal growth rate in the Pune area is 50.08% as per the Census 2001.
With such growth and a promising future, it is a wise decision to invest in this city. There is a lot of potential for profitable growth in the real estate market. The property prices in Pune might seem a little steep, but when it comes to end-user investors, the real estate segment of Pune is beneficial and profitable.
Baner and Balewadi: An Investment Opportunity
Areas like Baner, Balewadi, and Hinjewadi are the most rapidly growing localities. The Pune residential projects are pouring in with each passing day as everyone sees the true potential for this locality. It is close to the city, yet far away from the chaos.
In the coming time, areas like Baner and Balewadi are going to be the hot spots of Pune. With the IT hub close and the development of the new metro project, this seems an ideal place to invest. There are numerous options for schools and colleges, close to the infamous Pune University itself, and a plethora of restaurants and lounges. The developing area offers an easy commute to the city and is close to the Bangalore – Mumbai highway. From an investment point of view, you have got everything you can ask.
Increasing Opportunities
As we all know, Pune is considered the Silicon Valley of India because of its growing employment opportunity. Many MNCs have chosen Pune as it has a lot of potential.
Companies from different sectors like software, IT, Ecommerce, automotive, and manufacturing industries are looking to offer you an opportunity to build your future with them.
And since the world was hit by the pandemic, the market has also taken a hit. The rate of appreciation for this locality is bound to increase with time.
The appreciation rate is the rate at which the value of your asset grows. Thus, it is always a good idea to invest in a developing area.
Many believe that this is the perfect time to invest in Pune, as the future of the city is bright and full of opportunities.
Developing Suburbs
With such a broad array of professional opportunities, the future of Pune seems to be heading in the right direction. Thus, the current model of real estate in Pune is adapting too.
People are now adapting to the modern and lavish way of lifestyle. We all want cutting-edge technology integrated with wholesome amenities for our home.
But with being technologically advanced, a home should be connected to the serene nature.
PMC has kick-started “The Riverside Front’. design project .The plan is to turn the river banks into an important asset for the city. The project includes development of river fronts into gardens, open spaces for the community, and public promenades.
This is an initiative from the PMC to preserve the natural beauty, so that the flora and fauna native to the city can flourish.
The PMC Riverfront Development Project is a 2,619 crore project that is divided into 3 stretches; Kharadi, Aundh, and Bund Garden to Sangamwadi. These are the areas through which the river flows, thus the land around the banks are under the development of the PMC.
The project even received a NOC from the Maharashtra state Environment Impact Assessment Authority (SEIAA) back in 2019.
The river stretch flows from the newly developing Baner-Balewadi-Aundh smart city area, thus it is a great opportunity to invest here as with time, the development of this area is destined to reap some profitable returns.
An Investment full of Opportunities
The new model of infrastructure focuses on timely completion of projects, following the government guidelines, providing the buyers with the best of amenities, and creating state-of-the-art infrastructure for a lavish and modern lifestyle.
Most of the time, people are worried about connectivity and daily commute. Here, when you have everything from hospitals, schools, workplaces, shopping stores, restaurants, a like-minded neighborhood.
Conclusion
As an investor, you can rest assured of the development and growth of your investment. The future of these areas in the Pune real estate market is bright and full of opportunities.
