Tuesday, 22 January 2013

Factors Behind Pune Real Estate Hike

Property Demand in Pune City is growing because of IT industry. In the areas like Kalyani Nagar, Hinjewadi, Wakad and Baner there is steady demand for properties as these areas are close to major IT hub. Apart from IT and BPO industry, the student population in Pune residing their campuses are also demanding housing in Pune.

According to real estate experts and agents there will not be recession in  Pune Real Estate Industry at least in the next 10 years. And property demand in Pune is still stable. Currently, Pune Real Estate market is one of the most dynamic segments in Western India.

According to the real estate market reports in Pune, commercial property in Pune fetches about 20-25% returns on investment. Thats why Pune is most preferred destination of investors. Developers are now also focusing on the bordering areas of Pune such as Ambegaon, Wagholi,Chakan etc. Most of the investors are now looking for affordable accommodation in suburban and bordering areas.Areas like Kothrud, Vanwadi, Aundh were the extension of villages but now they are hub of property development .

Pune is swiftly transforming itself into IT city as many national and international companies such as, Wipro, Infosys are establishing their base in the city. Even though because of growing market in Pune many leading MNCs has also arrived here.
The rapid industrialization of Pune has increased the population in the city tremendously and the fact is that Pune Real Estate is successfully providing space not only for the commercial complexes but to residential buildings also.