Pune Real Estate Market Growing Appreciably
While many cities of India are reeling the apprehension of slowdown with the sales nose-driving
, Pune's real estate market has defied any such apprehensions. The demand for residential property in Pune doesn't comes from IT Sector alone but from manufacturing sector which features a number of international names.
Pune market have always been at the peak as far as real estate is concerned. Here the property buyers have high hopes from Pune with regards to rate appreciation be it investors or end users. Keeping this in mind the developer have launched a residential project in the vicinity of the most upmarket area of NIBM.
The growth of residential property values cannot be compared to that of neighboring Mumbai, Pune has the advantages of being a stable market with consistent demand coming from a number of strong and dependable business sectors.
Most of the residential property being launched in Pune are connected on the northwestern and south-eastern side due to the increase demand for homes by IT and industrial employees. Encompassed in these regions are areas like Balewadi, Hadapsar, Kharadi, Baner and Nagar Road among others.
Capital values on the Pune residential market have appreciated by approximately four to six percent since the beginning of 2011 and is expected to appreciate further by another three to four percent by the end of the year. Pune property market benefits from the fallout of Mumbai's effervescent economic climate, as well as it own demand drivers.
Pune city is already venue to many multinational manufacturing companies' corporates headquarters, while Mumbai continues to be destination of choice for large financial institutions. Pune holds a lot of appeal for IT/ITES centric firms and also it is preferred retirement destination for a large segment of Mumbai's mid management cadre.
In a manner, Pune and Mumbai are symbiotically juxtaposed to each other on the real estate map. Witnessing a massive inflow of population from various metros in a short span of five years, Pune has undergone a sea change in terms of infrastructure, making it one of the most preferred real estate property market.
Pune has become a metro in the investors' eye that creates a huge demand which gives a scope for more launches by established developers. Despite a substantial hike in the rates the property market is growing in Pune. In general Pune's residential property market can look forward to healthier growth in the future.
The city's road network, which is increasingly being challenged, is being enhanced with the addition of more access roads where they are needed the most. A number of malls and entertainment facilities are being launched in the eastern and western parts of Pune which is further enhance demand for residential homes.
There are in fact, projects whose designs are inspired from the foreign architecture too. A buyers today has a choice of high-end apartments and lavish row-villas there is also a growing category of customers who look for something beyond the ordinary. For such buyers, there is both smart and super luxury homes.
Designer homes, customized spaces and studio apartments have also become popular among the different categories of home buyers. According to developers, the ses concepts are here to stay, but only in the best of locations in Pune including University Road, Aundh, Kalyani Nagar, Baner, Viman Nagar, Koregaon, among others.
The realty market in Pune is good and quite steady which is going by the current trend and it will be continue to remain like this in future.
by: lokeshmanu24
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