Pune Is A Preferred Choice Among Young Professionals

Pune real estate has started showing the signs of stability when it comes to demand

and supply of the properties in the city.Today various real estate developers are showing keen interest in the city thereby generating an up thrust in the Pune properties and obtaining applaud at the same time, gaining huge capital gain for every residential property. The Pune properties are witnessing a boom that had started in the late 90's.

Today developers in Pune are increasingly focusing on achieving operational efficiencies in order to improve construction productivity and delivery of residential property in Pune with the help of technological advances and commitment to improve delivery capabilities.

Development in the western region of Pune started only about 15 years ago. The area comprised primarily farm or barren land; however some of the locations are premium locations. As today Pune is expanding quite rapidly in all directions. Western Pune which includes various suburbs like Wakad, Kothrud, Balewadi are among others has undergone a complete makeover.

Western Pune is no more a lonely, deserted or 'poor' cousin of Pune city. In fact, it has become a preferred choice among young professionals who work in the nearby IT Parks. Pune has always invited prestige which is one reason the city became a pensioners' paradise. Pune's organic growth and influx brought on by increasing employment and business opportunities has upped the need for more residences.

Pune's property market benefits from Mumbai's economic activity its' own demand drivers are IT and ITES sectors and manufacturing industries. But there arent as many homes in the city and prices of real estate within the municipal limits are high.

According to CRISIL Research's City Real(i)ty - jobs in the IT/ITes sector in Pune are expected to increase from 8,115 in 2009-10 to 32,941 in 2013-14. As the employment catchment areas spreads, home seekers will also rise. Residential and Commercial properties will be in demand.

Affordable property in Pune is going to be available only in the city's outskirts and even in mofussil towns in a 20-40km radius. In Pune city the land prices have pushed up realty costs which is relatively lower outside the municipal limits, but the idea is fraught with development issues including roads, water, electricity, transport, connectivity and civic amenities.

Pune is good as lot of large IT SEZ and educational campuses are developing in proximity and Mumbai expressway is great advantage. Speaking about what makes Pune popular so the proximity to the highway, commercial and IT hub, affordable rates and product mix are the factors favoring growth and demand on the western region.

Now that the amount of land available in Pune is quite less since the supply in these areas is less and the demand is more, serious buyers should buy now especially because property prices in west Pune have always been escalating. Also post of 31st March shows the regulations being made by the government, the prices are bound to rise very soon.

by: lokeshmanu24

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