10 Reasons You Should Invest in Property in Pune
Pune is the second largest city in the state of Maharashtra, also considered as the state’s cultural capital. Pune is now a great cosmopolitan city emerging as a shining spot for real estate investments.
Investors consider the city as one of the most viable and lucrative places for investing in residential reality spaces.
The thriving engineering, automobile, education and IT sectors and good weather conditions are the key parameters for investing in property in Pune.
With the employment opportunities growing day by day in this city a large number of people across India are migrating to this city.
Reasons to Invest in Property in Pune- An overview
The rapid real estate growth over the last decade has resulted in affordable property rates in Pune with affordable housing segment with units priced below Rs.40 Lakhs constituting 44% of the overall new supply in the third quarter of 2017-18. The ten reasons why you should invest in property in Pune are-
Property rates in Pune are affordable with the prices have fallen by 8% during the past one year in areas especially on the Kharadi – Magarpatta belt. There are also some minor corrections in other locations such as Kalyani Nagar and Aundh that can be attributed to excess supply.
2. Increased Employment Opportunities
The city of Pune is considered as an educational hub of the state with a number of prestigious schools and universities located here with excellent educational standards in terms of teaching staff and curriculum needed for your child’s overall development.
The accelerating phase of a number of residential projects and integrated townships being built in the suburban areas such as Viman Nagar, Wakad, and Hinjewadi has resulted in the establishment of several national and global educational institutions. The city is now a thriving employment center with abundant employment opportunities especially in IT and ITes companies.
3. Considerable Return on Investment
The steady capital appreciation even for resale property in Pune over the years is attracting global investors. Few areas in the city like Hinjewadi are experiencing growth in terms of price appreciation.
4. Improved Physical and Social Infrastructure
Considerable growth in peripheral areas of the city such M.G.Road, Koregaon Park, Bund Garden etc has led to a marked improvement in the city’s physical infrastructure. Even outer areas like Pashan, Wakkad, and Aundh among few others have good infrastructure leading to an increased demand for flats and apartments in Pune.
5. Traffic Congestion
The city of Pune has less traffic congestion when compared with other cities of Maharashtra especially Mumbai which is its nearest Metropolitan city. This city is also not overpopulated unlike many other metros and has thus retained its lush greenery surroundings.
Pune is one of the safest cities in India with a crime index of 41.69 as per the Numbeo site with safety walking alone during the daylight hovering around 77.86% as per the data based on the perception of visitors of the website during the past 3 years.
7. Smart City Model
The city of Pune is a live example of Smart City Model of development being promoted by the Indian government in the planning of residential projects that are economical, socially and environmentally sustainable. Investing in Smart City Project like the Amanora Park Town is further accelerating the property prices in Pune.
8. Varied Cost of Housing
The demand for the property in Pune for sale has shown considerable interest in investors due to a considerable range of facilities and conveniences available in areas such as Chinchwad, Baner, and Mgarpatta city.
9. Tourism Exploration
The city of Pune is close to many historic forts and hill stations making it a great destination as a popular tourism spot resulting in a huge influx of tourists from across the globe who also contribute their share towards Pune’s real estate development.
10. Transportation Facilities
Pune is well connected by Air, Rail and Road Transport both within the city and to other cities or global locations. The public bus facility operated by the Pune Mahanagar Parivahan Mahamandal Limited (PMPL) allows ease to travel within and outside the city is helping in indirectly in the thriving of the property prices in Pune.
Thus, these above mentioned ten reasons make this city a heaven for investing in real estate property in Pune.