Location: Pune, INDIA
Pune, once a retirement paradise, is today a Tier I city. Apart from being an educational and manufacturing hub, the city houses numerous companies including IT, ITeS… thus creating employment. The traffic, alarming as it is, is a sign that infrastructure has not kept pace with real estate development. The metro routes are planned and work is progressing at a rapid pace.
Pune is widely regarded as the second major “IT hub of India” and the top “automobile and manufacturing hub of India” It is known as the ‘Oxford of the East’ owing to the presence of a wide range of educational institutions. The city has emerged as a major educational hub. Research institutes of information technology, education, management and training attract students and professionals from India and overseas.
Pune is known for its culture and weather. Individuals who work here often choose to settle here. Residential rates psf varies in the same area, depending on the building. The chosen area of residence depends on preference of amenities in the neighbourhood including hospitals, clubs, schools or even proximity to the workplace.
In 2008, a bridge built in a particular area brought about an increase in the property rates of that area, following which the rates in the neighbouring areas also increased. Expansion of current airport is ongoing and is expected be ready by September 2022. This development will further boost the real estate sector.
In conclusion, I believe that Pune is the ideal location for real estate investment.
Author: Jyotesh G Narang, Realtor, Life Inspiration Advisory LLP., Pune
Disclaimer: The views expressed in this article are the opinion of the author and should not be construed as a promotion.