Indians form a big part of the population in Europe, the Americas, the Middle East, and Africa. Although they live and earn there, still, most of them dream of buying and maintaining a property in India. This trend has increased in recent years, owing to various reasons such as weak-rupee scenario, introduction of Real Estate Regulation and Development Act, 2016 (RERA) that has increased transparency in real estate transactions, and investor-friendly RBI rules regarding home loans, among others. Today, non-resident Indians (NRIs)understand that investing in Indian real estate will offer them long term benefits.
Going by trends it can be seen that most NRIs are keenly investing in growing metro cities like Mumbai, Pune, Bengaluru, Chennai, Cochin, and Hyderabad, among others. Of all these, Pune has emerged as one of the top investment destinations in recent years. The city offers a lot of growth possibilities that lure investors. Is this the only reason or other reasons do exist? This post discusses why investing in Pune is once a lifetime opportunity for any NRI real estate investor.
The Only Breathable, Workable, and Liveable City in India
Breathable, liveable, and workable – you rarely find this combination in any other city. Luckily, Pune is one of them. Located at the altitude of 1,840 ft above sea level, this city is covered by green hills on all sides. Vetal Hill, the highest point in the city, stands tall at 2,600 ft above the sea level.
The city gains from its geographical location. As a result, today, it is one of the best cities to live in. The moderate weather attracts tourists and inhabitants of the city equally. Adding to it, the government of India has declared it one of the most livable cities based on several indicators such as socio-economic benefits, institutional and physical infrastructure, etc. Today, the city has also emerged as one of the top employers in the country. It has earned the status of an IT and automobile hub.
Affordability and Increasing Rents Make it a Wise Investment
Here affordability has several dimensions. First, affordability is due to weak-rupee scenario. As NRIs can make the most of it, due to the huge gap in currency values. Next, it is due to affordable property prices in the city of Pune. Although it is one of the fastest developing cities in India, the property prices are much fairer than neighbouring Mumbai, Bengaluru, or Delhi. Buying property near IT hubs such as Hinjawadi, Kharadi, Hadapsar or automotive hubs such as Chakan is always beneficial. These zones attract job seekers from across India. They always prefer living near their workplaces to avoid traffic and other hassles.
Although rental income will be taxed, an NRI can seek compensation like any other Indian under section 80C. NRIs can also claim a deduction for the repair and maintenance of the home.
A Home to World-Class Educational and Healthcare Facilities
Pune hosts some of the best world-class educational institutions in the world. They have been attracting students for several years now. Many of its prestigious institutions such as Fergusson College, now referred to as Fergusson University, has played an active role in Indian independence. Although Pune was one of the favoured educational institutions for several years, in the 90s it was in the news for offering higher studies in computer education. Today Pune is has emerged as a centre for higher studies or research, and also houses several schools that teach the international curriculum.
Pune is also known for the healthcare facilities that it offers. It has some of the best hospitals such as Ruby Hall Clinic, which is one of the well-known hospitals in Maharashtra and contributes to medical tourism in the state.
Choice of Premium Range Properties
Owing to the several development possibilities that it offers, Pune is also favoured by property developers, who have launched their prestigious housing projects in industrial areas like Hinjawadi and Magarpatta. If you are considering Hinjawadi in Pune for your real estate investment, there are several mid-housing and premium projects and integrated townships to choose from.
From the many premium housing projects in Hinjawadi, Eon Homes by Kasturi Housing are beneficial to NRI investors. Positioned at Hinjawadi Phase-III, this project offers several advantages such as great civic and social infrastructure, ease of connectivity through the metro to other areas of the city, as well as world-class amenities. Inspired by South Asian designs, these homes ensure privacy and security to residents. So, if you are considering property investment in Pune, you must explore Eon Homes by Kasturi Housing which not only fits your bill but also assures the best value for investment.