When it comes to real estate development, Pune is one of India’s most attractive cities. Several real estate developments have started and finished in different city regions. These projects were of various sizes and scales, and they were either commercial or residential. Some of the most important people or developers have been involved in the situation and have created outstanding products for the property in Pune.
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Present the Current Real Estate Market Following the Pandemic
The Novel Corona Virus outbreak has significantly impacted Pune’s real estate market. True, the number of new project launches dropped dramatically after the outbreak. At this moment, no new projects are being announced by the developers. They are, on the contrary, working on completing all of the initiatives that they have started thus far.
Not Everything Is Doom And Gloom
However, it is not true if a general buyer believes that the future of real estate after Covid-19 is all awful and depressing. Indeed, specialists have stated that this is only a brief phase. Shortly, the situation is likely to improve. Not all aspects of the building have been severely impacted. In reality, the luxury housing market is doing rather well. Approx 71% percent increase in new luxury home debuts has been witnessed. This is a terrific opportunity to invest in real estate property in many ways.
Pune has been a popular real estate investment destination for Pune-based home investors in recent years.
Enhanced Employment Prospects
Pune dubbed the “Oxford of the East,” has become a hotbed for emerging Indian tech start-ups. Surprisingly, it is also a popular location for over 110 major global information technology companies, many of which have several locations in Kharadi, Viman Nagar, and other Pune neighborhoods. As a result, Pune boasts one of India’s fastest-growing business and residential areas.
High Rate of Appreciation
With young, mid-level, and senior-level IT professionals from other cities choosing Pune as their preferred base, appreciation rates in the neighborhood and surrounding places such as Wakad, Bavdhan, Baner, and Balewadi have skyrocketed. For example, between July 2016 and January 2018, rates in Pune increased from Rs 5707/sq.ft to Rs 5818/sq.ft.
Excellent Rentals
Pune attracts job applicants from around the country as well-known information technology and automotive centre. As migrating professionals are continuously searching for suitable rental houses, your property investment in Pune would almost certainly provide you with a high second income from rents. Here, luxury projects are a plus.
Infrastructure Improvements
Pune is about to get a big infrastructure upgrade. The Pune Ring Road, the Bus Rapid Transit System (BRTS) on the Pune–Mumbai Highway, and the most prestigious- the Metro Project connecting PCMC – Swargate, Vanaz – Ramwadi, and Pune – Civil Court- are all in the works. The Pune – Civil Court line Metro project has been prioritised for construction. Mumbai investors looking to buy a home in Pune or the surrounding areas see this as excellent news.
Wrapping It Up!
Pune has a temperate climate compared to Mumbai, its neighbour, and most other Indian cities. This signifies it is never too hot or cold in the summer or winter, making it one of the most comfortable towns. Sai Krishna claims that the weather in Pune keeps him coming back and that the green-covered mountains add to the cityscape.
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