All of us remember the yummy vada pav, kheema pav, and other mouth-watering street foods when we say the name Pune. The second-largest city in Maharashtra, Pune is much more than amazing street food.
Though it is one of the most favorite places for all the fashion freaks, it is now turning into a great place for all real estate enthusiasts. Yes, you read it right. Pune is evolving into a big catch for real estate. This metropolitan city now has a great demand for plots, apartments, commercial buildings, etc.
Let’s look at some of the reasons why you should invest in Pune real estate
Employment
Pune has become the hub of startups. Students and other business enthusiasts are building their dream businesses here in Pune. Not just startups, Pune is also the home of more than a hundred globally recognized companies. Thus, the city offers employment to thousands of students in a number of sectors.
This development in employment opportunities has also developed the need for commercial and residential buildings. Many builders are now trying to fill this need for commercial and residential spaces. You can easily find various flats for sale in Pallikaranai, and in other parts of the city.
Good rentals
As mentioned earlier, Pune is one of the fastest growing IT hubs of India. People across the country are moving to Pune in search of employment. Not just for employment, students across the country move to the city to pursue their degrees, masters, etc.
This indicates that if you invest in the residential spaces, you can get a good second income. There are fine apartments for sale in Velachery where you can invest and give for rent.
Infrastructure development
The city is undergoing massive infrastructure developments. Modern buildings, the laying of new roads, and huge changes in transportation systems are taking place. This improves the connectivity within the city. This is good news not just to the residents of the city, but also to the real estate enthusiasts.
This huge development in the city impacts real estate. There will be a good hike in the value of the properties of the city. You can check Pallikaranai flats for sale and various other properties. The value of these flats, plots, and other properties will increase tremendously after the infrastructure projects are done.
Price appreciation
Various parts of the city experienced an increase of around 13% per sq.ft compared to 2018. This shows the increase in demand for properties in Pune. Since there is a steady capital appreciation for resale properties too, you can invest now and fetch higher prices in the future.
Tourism
Pune is surrounded by beautiful hill stations like Lonavala, Khandala, and many more. Not only these, but it is also very close to many historic forts and monuments.
Pune has abundant beautiful locations that attract tourists from various parts of the country. These tourists also contribute to Pune’s real estate development.
Smart city
Smart cities’ mission was introduced by the government of India in the year 2018. Pune is a great example of a smart city.
One of the main mottos behind smart cities is to create economic, social, and sustainable residential spaces. You can invest in the flats for sale in Pallikaranai and other parts of the city and fetch higher prices in the future.
Future of real estate in Pune
Though the pandemic had left an impact on the real estate market of Pune, it is now growing at a fast pace. Numerous infrastructural and social facelifts are happening within the city, this will lead to a hike in the land and property value in the future.
Also, the development in tourism and the conversion of Pune into a smart city also impacts the real estate market. The value of properties in various parts of the city has seen a hike of around 13% to 35% from 2018.
In this pandemic, one good news to the investors is that the home interests which are already 8% rests which are as low as 8% are further reduced by the banks. This is advantageous to all investors who are planning to buy properties in the city.
It is told by the experts that there will be a significant increase in the appreciation prices of the properties. Pune is one of the fastest-growing cities in the country.
This city offers more than one can imagine. It is advised to invest in the real estate of Pune now as there are considerably lesser prices. It is expected that real estate in Pune will become very expensive in the future. So what are you waiting for? Invest now.
