Property In Pune Peripheries Set To See Increased Demand

The demand for housing in Pune peripheries is already on the rise as the information technology (IT) sector is increasing its footprint in Maharashtra's cultural capital. Our Prime Minister just announced a measure that would further boost the demand.

In his address to the nation on the New Year's Eve, Prime Minister Narendra Modi announced that people with an annual income of up to Rs 12 lakh in urban areas would be eligible for a four per cent subsidy in interest for a home loan up to Rs 9 lakh under the Pradhan Mantri Awas Yojana. Those earning Rs 18 lakh annually will enjoy a three per cent rebate on home loans of up to Rs 12 lakh. These housing schemes will positively impact the demand for apartments in the peripheries of Pune.

What is different about Pune suburbs?

Because of the affordable options they provide, Pune suburbs are high in demand. Data show with a budget of Rs 40 lakh, one can easily find property in areas such as Ranjangaon, the Shirwal-Satara stretch, Shikhrapur and Saswad Road. In fact, localities of Ranjangaon and Shikrapur will soon enjoy the status of satellite town and see massive infrastructural developments in the coming times.

Apart from that, the upcoming airport at Purandar will further boost the connectivity. The improved social infrastructure will create more demand for apartments in Pune peripheries.

Who is buying?

Pune suburbs are much preferred by buyers who are investing in their second home. The affordability factor also pushes tenants living in the city choose peripheries over the city centre.

What is in store?

Improved connectivity and affordability are the two prime factors that have led to the increased demand for apartments in Pune peripheries. Authorities push to make peripheries a safer place will further boost the housing demand there.

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