Pune, the cultural capital of Maharashtra, has rapidly become a preferred real estate investment destination. There was a time when Pune was considered a good retirement address, but now it is home to some of the largest MNCs, industries and manufacturing units, creating thousands of jobs and rising commercial and residential requirements. These among many other factors have made Pune the next hotspot for real estate investors.
Let us read in detail about the factors attracting real estate investors to Pune:
Growing IT and Manufacturing Hubs
Pune is the home of thriving IT hubs with hundreds of MNCs and start ups within right from Infosys, TCS and Wipro. The city is also a manufacturing hub with many units such as Volkwagen, Bajaj Auto and Mercedes Benz in Talegaon and Chakan that have created thousands of employment opportunities.
It is natural that this growth has created a tremendous demand for commercial as well as residential spaces.
Infrastructure Development
With new roads, highways and metro lines construction progressing everyday, Pune’s civic infrastructure has taken a big leap forward in the past decade. The city has also received a new airport terminal and enjoys proximity with Mumbai. These aspects are significant for businesses and professionals looking to move to Pune city.
Affordability
Compared to Mumbai, Pune offers much more affordable residential options and commercial rental prices. Hence it is an attractive real estate investment destination for investors and first time buyers alike.
Quality of Life
Pune is home to some of the best schools, old reputed universities and has a very rich cultural heritage. Pune enjoys a beautiful climate throughout the year with one of the most beautiful monsoon seasons of the country as it has hills in many areas. Pune is close to weekend destinations like Lonavala, Mahabaleshwar, Karjat and Panchgani.
These render a great quality of life to individuals and families residing in Pune. This is one of the major reasons for Pune becoming real estate investment hotspots.
Government Initiatives
With an aim to increase Pune’s livability and enhance its infrastructure, the Maharashtra Government has launched initiatives like Pune Smart City Mission and has time and again given limited time reductions on stamp duty to encourage home buyers.
Rental Yields
With growing employment opportunities, many professionals move to Pune for a better life. Hence the city has a hot rental market and offers attractive rental yields to residential and commercial property owners. This also makes investing an excellent option in Pune real estate.
Growing Demand
Pune’s population is growing rapidly owing to migration from nearby cities/towns as well as IT professionals from other states. This has created a steady demand for housing and commercial spaces in the city.
High Quality Investment Options
With some of the best real estate developers based in Pune, the city houses excellent real estate projects – both commercial and residential. One such lucrative and golden investment opportunity is a villa plot project, Neco Officers Ville by Vasupujya Corporation on NIBM road. The project is a gated community with premium amenities located very close to Pune Camp and is surrounded by lush green landscape, yet very much within the hustle bustle of the city.
This wonderful blend of economic growth, infrastructure development , affordability and higher standard of living compared to many other cities in India make Pune a hotspot for real estate investors. The city is evolving in leaps and bounds promising a great return on investment, and making it an ideal destination for those looking to invest in real estate.
