5 Reasons Pune Is The Dream Destination For Home Buyers

There was a time when Mumbai folks would buy a house in Pune to relax over the weekend. Now, Pune has emerged as a commercial and residential hub in itself. The city has seen a surge of IT firms, educational institutions and auto parts companies in past few years. This has triggered the development, the prices and the importance of the city's real estate to go up.

Here are some of the reasons that make Pune one of the best places to live in:

Property value appreciation: Property in Pune has shown the maximum amount of capital value appreciation amongst metros of India, from 2011 to 2014. The trend, experts say, is likely to continue as the city offers growth opportunities for the services and manufacturing industries. The city, known to be an upper-middle class city, has most appreciation in properties in the mid and high-end segments. Assurance of growth in property value is what every homebuyer looks for. The city is also showing signs of growth and emergence of peripheral areas like Alande, Pirangut and Punawale. The areas offer a mix of affordable properties as well as promise of good value appreciation.

High construction activity: There is a large number of under construction properties in Pune, making it easy for a buyer to pick and choose a property. Most of the projects offer mid and high-end investment opportunities without burning a hole in the pocket of the home buyers. Majority of property in Pune comes at affordable rates. If you are looking for a nice home to settle down in Pune, new areas are the best to invest in. Not only do they offer a good living space, they also offer it in a clean and green area with growing infrastructure.

Small and clean city: Long before prices of property in Pune skyrocketed, it used to be the second home destination for people in Mumbai. Even as the city has developed leaps and bounds in terms of income potential, it still lives up to its other titles like the 'cultural capital of Maharashtra', as it offers enough in terms of entertainment like plays and old-world regional cinema. It is also not overpopulated like many other metros and has retained the lush green nature it always had. All these make Pune a city that you would like to live in with all the urban advantages. 

Developing infrastructure: Pune also has quite a few infrastructure projects lined up that would help in two ways—making the life easier for its residents and also provide for the emerging new real estate areas and opportunities. The largest among these infrastructural projects is the new airport that is under development at Rajgurunagar. A long delayed project, this new airport will replace the current airport that doesn't suffice the need of this growing city. 

The Union Government too has released funds for the infrastructure of this city, which includes working on a bus rapid transit system. Moreover, projects that are funded by Jawaharlal Nehru National Urban Renewal Mission (JNNURM) including development of heritage sites, are currently under way.

Top properties in Pune: A number of top builders made Pune their home after premium real estate demand shot up in the city. Lodha Belmondo on the - Highway is a top project that has homes of all sizes starting from 850 sq ft, 1BHK to independent houses with five bedrooms. The prices range from Rs 39 lakhs to Rs 10 crore. This project also has 680 sq. ft. studio apartments priced at Rs 45 lakhs. Mystic, Hinjewadi is yet another upcoming giant project, which offers 2 BHK apartments at Rs 58 lakhs and 3BHK apartments at Rs 99 lakhs. Also, Gayatree Legacy, a high-rise property for sale in Moshi area, has 1 BHK and 2 BHK apartments that range between Rs 32 lakh and Rs 48 lakh.

We see that the time is right to invest in property in Pune, as going ahead, the prices will be soaring high.

(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)