Pune comes as a pleasant reprise from the crazy hustle bustle of Mumbai. Great climate all the year-round, some of the most picturesque surroundings, employment, affordable housing – Pune has everything you ever wanted. It is one of the most desirable cities in India to live in. There is no dearth of projects offering 2 & 3 BHK flats in Pune. From premium to affordable to get everything your budget permits.
Let us understand why Mumbai real estate investors are keen on buying a property in Pune than in Mumbai.
- Affordable Property
Pune is a buzzing investment hotspot. The speedy growth of IT, changing demographics greatly drive Pune’s real estate scene. However, the property rates compared to Mumbai are far cheaper in Pune. You get better deals in terms of better projects, amenities, infrastructure, etc. You can afford a bigger house in Pune for the same price compared to Mumbai. No wonder it is slowly becoming a favorite investment destination amongst the Mumbaikars.
2. High ROI – From Rentals and Property Appreciation
The growth of the IT sector in Pune has played a key role in the boost of the rental market and overall property prices in Pune. Why so? Because Pune is experiencing a huge influx of IT professionals and students from different parts of India and abroad.
Home to over 110 MNCs, Pune boasts of some of the biggest and stunning IT parks in India. The Rajiv Gandhi Infotech Park in Hinjewadi, being the biggest, has the presence of all major companies like TCS, Infosys, Wipro, Persistent, Cognizant, Accenture, etc. The number of multinationals in Pune is frequently on the rise, boosting the city’s employment rates.
As for educational institutions, Pune offers a rich legacy; from the University of Pune to Fergusson College to Symbiosis, from the ILS Law College to the Armed Forces Medical College, Pune probably has more world-class educational institutions per sq km than any other city in India!
These employment & educational options have brought steep demand in residential & commercial real estate. The property prices have been trending upwards steadily.
3. Perfectly Paced/ Liveable
In 2018, Pune was declared as the most habitable city in India by the Ministry of Housing and Urban Affairs based on four key parameters – physical, economic, and social infrastructure, and governance. Earlier known as the retirement home, this sleepy town is a thriving metropolis now.
4. Excellent Social/Civic Infrastructure
The fact that Pune is included in the Smart City list in India augurs better civic and social infrastructure in years to come. A melting pot of cultures, Pune has been home to different sects: Jews, Parsis, Christians, Hindus & Muslims. Pune enjoys a pretty good night-life too.
5. Lush Greens/better Weather
Pune offers an equitable climate all year round. Pune’s beautiful trees, parks, and greenery are unmatched by Mumbai. You don’t even have to drive far out of Pune to get a break from city chaos – hill stations and weekend getaways are just an hour or two away (Lonavala, Wai, Mahabaleshwar, etc.). You will be able to view hills from almost anywhere in the city.
6. Connectivity to Mumbai/Cosmopolitan Crowd
Pune’s proximity and excellent connectivity to Mumbai attract Mumbaikars like no one else.
7. Residential projects with better amenities
Mumbai has less land space to accommodate lavish amenities in residential projects. If at all they do, the projects have premium pricing. These days people want more than just four walls and a parking slot in their apartment. Pune having ample landmass offers basic amenities even in affordable housing projects. The premium and luxury apartments offer world-class amenities.
The thriving IT sector, greenery, pleasant weather conditions, safety, good educational institutions, and most importantly good ROI are a few key parameters that are driving Mumbai real estate investors to Pune. Book yourself 2 & 3 BHK flats in Pune before you miss the bus.