Pune has become a favourite for investors who are tired of the sky high real estate prices of Mumbai, and want to buy a home in a city that does not face the same infrastructure problems that Mumbai does. The growth of Pune was surprising to many, especially when you consider the fact that Mumbai, which is economically the most important city in India, is just a few hours’ drive away.
Upon close inspection, the reasons that led to investors choosing Pune over Mumbai become very obvious, and these are the same reasons that will convince you to invest in the profitable real estate market of Pune.
Pune, the preferred city
Pune is one of the most well developed cities in the state of Maharashtra, and a popular centre for commerce, education, and culture in the region. The city has numerous IT companies, several national level colleges and universities, and a well planned and equally well executed infrastructure that makes the city a great option for anyone who wants to buy a house in the city.
The city has undergone a significant transformation in the past few decades, and has built up an enviable infrastructure. Well planned roads, easy availability of every kind of property, and ample of jobs in the city have made Pune a favourite of young professionals who move here from every corner of the country in search for a good job, and a better life.
Pune, a popular and big city, is always one of the top choices of students who either want to pursue an educational course. There are numerous companies and several institutes offering quality education.
Above all, Pune is also a great option for anyone who wishes to buy a home, but is unable to afford the overpriced properties in Mumbai. It offers a better and more robust infrastructure, and the growing real estate market ensures that you profit from your investment in the city.
Dozens of leading developers offer housing projects that range from low cost affordable apartments and houses, to super luxury villas and condos. While the city offers several advantages to investors who stake a claim in this growing metropolitan city, three benefits stand out immediately and are the leading reasons why thousands of people invest in the real estate market of Pune.
- A growing real estate market: Unlike Mumbai, where property prices have locked up, and the real estate market has more or less stopped its growth, the real estate market in Pune is still on the rise. When considered on the whole, the market in the city is stable, but popular areas like Aundh, Dhanori and Wadgaon Budruk have seen a quarter to quarter rise in the rates of as much as 16 to 18%.
- A solid infrastructure: Pune possesses a robust and well-planned infrastructure that has been developed and implemented by the development authorities. You will never face gridlock and flooding issues in the city, which are a common sight in Mumbai, and the private developers have gone to great length to ensure that you benefit from ample of free space and great amenities within the housing complexes.
- Growing job market: The real estate market of a city is largely fuelled by the kind of people who move to the city. Pune saw its initial burst of growth after several IT and related companies set up offices here, thus bringing in educated and modern professionals.Several national and multinational companies now have an extensive presence in Pune, thus ensuring that high earning individuals move to the city. This will continue to fuel the growth of the city, and people who are looking for a job, will find great opportunities here as well.
Working and living in the city of Pune will offer you a chance at leading a high quality of life. Major IT hubs in the city, like Hinjewadi, have led to the rapid growth of adjoining area, like Aundh, and thus the most popular choices among new investors. The Pimpri Chinchwad Municipal Corporation has been witnessing some sensible and well planned development as well, and offers investors a chance to buy a home in a comfortable and upscale part of the city, while staying away from Central Pune, which has become overrun with pollution and is avoided by a number of investors now.
Now before you invest in Pune properties compare properties and prices and then make the buying decision.